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Aug 12, 2023

Electric Vehicles Propel Demand for Advanced Automotive Brake Shims market: Expected to Reach US$ 604.5 Million by 2033

The automotive brake shim industry, crucial for reducing noise and enhancing brake performance, is facing significant changes due to the rise of electric vehicles (EVs). According to recent research

The automotive brake shim industry, crucial for reducing noise and enhancing brake performance, is facing significant changes due to the rise of electric vehicles (EVs). According to recent research by Future Market Insights, an ESOMAR-certified market research firm, the global market is expected to grow at a CAGR of 5.6% by 2033. The report comprehensively explains the scope and content of the research, encompassing the driving factors, market size, and forecast data for automotive brake shims. It also provides detailed segmentation in revenue and shipment, along with 10-year forecasts extending up to 2033. The report includes information about key players in the industry, their market shares, the competitive landscape, and regional insights.

Newark, Del, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The global Automotive Brake Shims Market is estimated to reach US$ 349.0 Million in 2023. Over the assessment period from 2023 to 2033, the global market is projected to expand at a CAGR of 5.6%. It is projected to culminate in a market size of US$ 604.5 Million by the end of 2033.

Shims for automotive brakes are expected to be crucial parts that are carefully positioned between brake pads and calipers in cars. Demand might be increased by these thin, insulating materials' capacity to reduce noise, vibrations, and harshness during braking maneuvers.

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It is anticipated that brake shims will considerably improve passenger happiness and vehicle comfort. This is explained by their capability to effectively absorb noise and attenuate vibrations produced by the contact between the brake pad and caliper.

With a strong emphasis on noise reduction and enhanced brake performance, the automotive brake shims sector is being severely impacted by rising production of electric vehicles (EVs). There is an increasing need for specialized brake shims that reduce noise and vibration in EVs. This is because regenerative braking systems have taken the place of conventional friction-based ones.

In order to satisfy these demands, manufacturers are changing the way they produce their products, spurring innovation for greater durability and compatibility with regenerative systems. Brake shim replacement is required by the expanding aftermarket for electric vehicles, further accelerating the market's development.

The automotive brake shims industry is expected to change as a result of the shift toward electric automobiles. It can highlight how important they are in ensuring that EV users have a quieter and more comfortable braking experience.

Brake shims made of recycled rubber and bio-based composites might help reduce waste and the manufacturing process' negative environmental effects. This is crucial since the car sector greatly affects the environment. A sustainable future depends on actions to cut emissions and waste.

Brake shim performance can also be improved by the use of sustainable materials. In brake shims, recycled rubber is frequently used as a reinforcement material.

It might increase the shims' toughness and resistance to deterioration. On the other hand, bio-based composites can provide distinctive qualities such as high strength and stiffness. These could make such brakes operate better.

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 5.2%.

The United States automotive brake shims industry is expected to reach a value of US$ 100.1 million by 2033.

China's automotive brake shims industry is anticipated to incline at a CAGR of 5.9% from 2023 to 2033.

Germany's automotive brake shims industry is expected to surpass a market value of US$ 26.3 million by 2033.

The rubber segment by material is expected to dominate the automotive brake shims industry with a CAGR of 5.7% from 2023 to 2033.

“The market for automobile brake shims is being propelled by the 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).

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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.

Scope of the Report

Attribute

Details

Estimated Market Size (2023)

US$ 349.0 million

Projected Market Valuation (2033)

US$ 604.5 million

Value-based CAGR (2023 to 2033)

5.6

%

Historical Data

2018 to 2022

Forecast Period

2023 to 2033

Quantitative Units

Value (US$ million)

Segments Covered

Material

Application

Sales Channels

Region

Regions Covered

North America

Latin America

Western Europe

Eastern Europe

East Asia

Central Asia

Russia & Belarus

Balkan & Baltics

South Asia Pacific

Middle East and Africa

Key Companies Profiled

Robert Bosch GmbH

ZF Friedrichshafen AG

Valeo S.A

Delphi Automotive PLC

Nisshinbo Holdings Inc.

Brembo S.p.A.

Akebono Brake Industry Co., Ltd.

EBC Brakes

DSS Brakes

Miba AG

Report Coverage

Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Automotive Brake Shims Market Outlook by Category

By Material:

Rubber Material

Pressure Sensitive Adhesive (PSA) Material

Thermoset Material

Others

By Application:

Two Wheeler

Passenger Vehicle

Commercial Vehicle

By Sales Channels:

OEM

Aftermarket

By Region:

North America

Latin America

Western Europe

Eastern Europe

East Asia

Central Asia

Russia & Belarus

Balkan & Baltics

South Asia Pacific

Middle East and Africa

Request a Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-15664

Find More Valuable Insights into the Automotive Brake Shims Market Study

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.

Explore Wide-ranging Coverage of Future Market Insights Automotive Landscape:

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Automotive Brake Valve Market Share: Is projected to expand at a CAGR of 5.9% between 2023 and 2033, to reach US$ 22,598.7 million by 2033.

Automotive Carbon Brake Rotors Market Size: This is expected to exceed the valuation of US$ 5,907.8 million in 2023 to reach US$ 12,381.2 million by 2033.

Automotive Brake System & Components Market Growth: This is projected to be valued at US$ 69,403.5 million in 2023 and is expected to rise to US$ 109,862.1 million by 2033.

Automotive Brake Friction Products Market Outlook: Projected CAGR of 4.8% by the year 2032.About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

Contact Us:

Future Market Insights, Inc.Christiana Corporate, 200 Continental Drive,Suite 401, Newark, Delaware – 19713, USAT: +1-845-579-5705For Sales Enquiries: [email protected] All Reports: https://www.futuremarketinsights.com/reportsLinkedIn | Twitter | Blogs