Automotive Brake Shims Market
The global automotive brake shims market, as highlighted in a report by Future Market Insights (FMI), generated sales totaling USD 315.2 million in 2018. The market experienced a 5.2% year-on-year growth in 2022 and is expected to reach USD 349.0 million in 2023. Over the forecast period from 2023 to 2033, the market is projected to grow at a compound annual growth rate (CAGR) of 5.6%, culminating in a market size of USD 604.5 million by the end of 2033.
Automotive brake shims are essential components carefully placed between brake pads and calipers in vehicles. The demand for these thin, insulating materials is likely to increase due to their ability to minimize noise, vibrations, and harshness during braking maneuvers. By effectively absorbing noise and reducing vibrations caused by the interaction between the brake pad and caliper, brake shims are expected to significantly enhance passenger satisfaction and vehicle comfort.
The automotive brake shims market is being strongly influenced by the rising production of electric vehicles (EVs), with a particular focus on noise reduction and improved brake performance. As regenerative braking systems replace traditional friction-based systems in EVs, there is a growing demand for specialized brake shims designed to minimize noise and vibration in these vehicles. Manufacturers are adapting their production processes to meet these demands, driving innovation in the development of more durable and compatible brake shims for regenerative systems. The expanding aftermarket for electric vehicles is further fueling the growth of the brake shims market, as the replacement of brake shims becomes increasingly necessary.
The shift toward electric vehicles is expected to transform the automotive brake shims industry, emphasizing their role in providing a quieter and more comfortable braking experience for EV users. Additionally, the use of recycled rubber and bio-based composites in brake shims could contribute to reducing waste and minimizing the environmental impact of the manufacturing process. This is particularly important given the significant environmental footprint of the automotive industry. Efforts to reduce emissions and waste are crucial for a sustainable future.
The use of sustainable materials can also enhance the performance of brake shims. Recycled rubber is often used as a reinforcement material in brake shims, potentially increasing their durability and resistance to wear. Meanwhile, bio-based composites can offer unique properties, such as high strength and stiffness, which could further improve brake performance.
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Key Takeaways from the Automotive Brake Shims Market Study:
- In the historical period from 2018 to 2022, the global automotive brake shims industry recorded a CAGR of 2%.
- The United States automotive brake shims industry is expected to reach a value of USD 100.1 million by 2033.
- China automotive brake shims industry is anticipated to incline at a CAGR of 9% from 2023 to 2033.
- Germany automotive brake shims industry is expected to surpass a market value of USD 26.3 million by 2033.
- The rubber segment by material is expected to dominate the automotive brake shims industry with a CAGR of 7% from 2023 to 2033.
“The market for automobile brake shims is being propelled by growing use of regenerative braking systems globally. Regenerative braking is a technique that uses a vehicle’s kinetic energy to create electricity. For subsequent usage, it can be kept in the battery. This factor is projected to create novel opportunities for leading companies.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
The automotive brake shims industry has a highly competitive landscape, with a significant number of players vying for high market shares. Several significant participants in this industry comprise Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo S.A, Delphi Automotive PLC, Nisshinbo Holdings Inc., and Brembo S.p.A. among others.
Manufacturers might be researching and adopting new materials for brake shims to enhance their performance, durability, and noise reduction capabilities. Advancements in materials science can lead to shims that are more effective at reducing brake noise and vibration.
A handful of players are developing and incorporating advanced noise reduction technologies into brake shims. These could include features such as dampening layers, insulating coatings, and specific designs that minimize noise and vibration during braking.
They are providing a wider range of brake shim designs and sizes to fit several vehicle models and brake systems. Customized solutions can help improve performance and noise reduction for specific vehicles.
For instance,
- EBC Brakes Racing introduced titanium motorsport brake pad shims in April 2022. It is appropriate for the high heat that comes with racing. For a wide range of high performance automotive uses, it was made accessible.
Comprehensive Market Insights: Full Report Overview
Find More Valuable Insights into Automotive Brake Shims Market Study
The research report analyzes the market demand trends of automotive brake shims. The global market estimation and growth projection are based on factors such as end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of automotive brake shims.
As per Future Market Insights (FMI) research scope, the automotive brake shims industry has been studied and segmented on the basis of material (rubber material, pressure sensitive adhesive (PSA) material, and thermoset material, others), application (two wheelers, passenger vehicle, commercial vehicle), sales channel (OEM, aftermarket), and regions. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
About the Automotive Division at Future Market Insights (FMI)
The automotive division of Future Market Insights (FMI) research offers a novel approach and innovative perspective in analyzing the automotive market. Comprehensive coverage of capital, portable, process, construction, industrial, and special-purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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