The Saudi Arabia Brake Pad Market is expected to grow at a CAGR of around 7% during the forecast period, i.e., 2023-28. MarkNtel Advisors’ recently published versions of the study on the Saudi Arabia Brake Pad Industry (2023-2028) have been closely monitored. The factual data related to it has been intensively crafted, conducting primary and other market research processes & strategies.
Essential Parameters
- Timefrvame and Metrics
- Historical Period: 2018-21
- Base Year: 2022
- Forecast Years: 2023-2028
- Units: USD Million/Billion
- Our goal is to offer clients with relevant and up-to-date information. To achieve this, our skilled analysts and researchers conduct thorough studies on the industry.
- Before creating a roadmap or checklist for the research report, we seek to understand the client’s perspective and objectives.
- The figures in our reports are tailored with input from industry experts, ensuring our reports are comprehensive solutions for clients.
- We use both primary and secondary research approaches to gather unbiased and comprehensive market information.
Key Driver: Significantly Expanding Vehicle Fleet with Improving Economic Conditions
Saudi Arabia has been experiencing consistent growth in terms of vehicle sales over the years, backed mainly by rising population levels, urbanization, and improving disposable incomes. Hence, the rapidly expanding vehicle fleet, including passenger cars, commercial vehicles, & public transportation, owing to various ongoing & upcoming infrastructure development projects, ever-increased mobility requirements, and massive investments in different end-user verticals, is creating a higher demand for brake pads in the country, which, in turn, would drive the Saudi Arabia Brake Pads Market through 2028.
Analyzing the Segmentations for the Saudi Arabia Brake Pad Market
Knowing the fragmentation of the market makes one understand the versatility & nature of the industry in a very detailed and informed way. This section of the research report talks about how every segmentation plays a role in enhancing the market share & size. Read further to get familiar with the market segmentations:
By Material Type
-Semi-Metallic
-Non-Asbestos Organic (NAO)
-Low-Metallic and Ceramic
By Vehicle Type
-Passenger Car
-Light Commercial Vehicle
-Heavy Commercial Vehicle
By Sales Channel
-OEM
-Aftermarket
Market Segmentation
Based on Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles
- Heavy Commercial Vehicles
Of these three, passenger cars hold the largest share of the Saudi Arabia Brake Pad Market. It owes to the high private vehicle ownership rates and a rapidly increasing population. The country has a significant number of passenger vehicles on the road due to urbanization, growing population levels, and improving disposable incomes, i.e., contributing to the massive demand for brake pads. Like other components, brake pads also require timely replacement due to wear & tear of passenger vehicles as they age. Hence, in order to ensure vehicle safety & optimal braking performance, the growing frequency of maintenance & replacement of brake pads is augmenting the market growth.
Moreover, the extensive use of passenger vehicles for various purposes like daily commuting, family transportation, and personal travel puts more strain on the brake pads, i.e., resulting in more frequent replacements than other vehicle types. Furthermore, the rising availability of a diverse range of passenger car models from various manufacturers, both domestic & international, is another prominent aspect accelerating the production of brake pads, as different models require certain specifications or sizes in brake components, including pads. Hence, these factors are contributing to the growth of the Saudi Arabia Brake Pad Market for passenger cars.
Based on Sales Channel:
- OEM
- Aftermarket
Here, aftermarket, which refers to the replacement & maintenance of different components of vehicles already in use, holds a significant market share. This segment includes various vehicle parts products offered by third-party manufacturers or suppliers rather than OEMs (Original Equipment Manufacturers). The prime aspect driving the demand for aftermarket brake pads is the cost considerations since they are often more affordable than OEM parts, owing to which vehicle owners, especially those looking for cost-effective components, opt for these products as a budget-friendly alternative.
Exploring the Geographical Landscape of the Saudi Arabia Brake Pad Industry
Our skilled researchers and analysts provide a detailed overview of each region or country, to help stakeholders understand the market status in these areas. They are:
-North
-East
-West
-South
-Central.
Do You Know Who are the Leading Companies in the Saudi Arabia Brake Pad Market?
Key competitors are the major role-players of any market, working to innovating & expanding the industry landscape. Look below to know about the Saudi Arabia Brake Pad Market companies:
-FBK Manufacturing Malaysia Sdn Bhd
-Alfred Teves Brake Systems (Pty) Ltd (Continental AG)
-Robert Bosch (Pty) Ltd
-AC Delco
-MAT Holdings, Inc. (Bendix)
-Tenneco Inc (Ferodo)
-Sangsin Brake Co., Ltd. (HI-Q)
-TRW Ltd Aftermarket (Road House)
-KBX Brakes
-Asimco Global Inc.
Key Questions Addressed in the Saudi Arabia Brake Pad Market Research Report:
- What is the estimated size, share, and CAGR of the Saudi Arabia Brake Pad Market in the forecast period?
- What are the key trends projected to impact the Saudi Arabia Brake Pad Market during 2023-2028?
- What are the different segments & sub-segments considered in the Saudi Arabia Brake Pad Market research study?
- Who are the key stakeholders and players participating in the Saudi Arabia Brake Pad Market?
- What are the major aspects creating opportunistic arena for the Saudi Arabia Brake Pad Market?
- What would be the demand for different types of products/services in the Saudi Arabia Brake Pad Market through 2028?
- What all factors would create challenge for the Saudi Arabia Brake Pad Industry growth?
About Us-
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
Contact Us –
Call: 📞 +1 628 895 8081, +911204278433
Email: 📧 sales@marknteladvisors.com
