Global Rubber Coated Brake Shims Market is expected to Grow at a CAGR of 5.7% During the Forecast Period

The latest market report published by Credence Research, Inc. “Global Rubber Coated Brake Shims Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The market for rubber coated brake shims is expected to grow from US$ 62.0 million in 2020 to US$ 91.39 million by 2027 with a CAGR of over 5.7% during the forecast period from 2021 to 2027.

Global Rubber Coated Brake Shims Market, 2020 – 2027 (USD Million)

Browse the full report here: Rubber Coated Brake Shims Market: Global Industry Size, Share, Statistics and Forecast 2020-2027 (credenceresearch.com)

Increasing adoption of disc brakes with noiseless operation

Car manufacturers are increasingly incorporating disc brakes into their vehicles as it help t improve driving experience. Furthermore, strict government rules requiring vehicles to use braking technology disk brakes are increasingly being used in passenger cars. Additionally, in order to achieve five-star ratings in the New Car Assessment Program in various countries have led to an increase in demand for disc brakes. As brake shims are mainly used in disk brakes, the demand for brake shims is likely to extend in tandem with disk brake market. For example, the National Highway Traffic Safety Administration (NHTSA), Department of Transportation, proposed regulations to reduce stopping distance. The National Highway Traffic Safety Administration (NHTSA) published a final rule in the Federal Register on July 27, 2009, amending Federal Motor Vehicle Safety Standard No. 121 to improve vehicle stopping distance performance.

Most passenger cars have disc brakes as standard equipment, but commercial vehicles are gradually adopting this technology for improved driving experience. Furthermore, rising demand for premium passenger cars, advancements in disc brake technology, and the advantages of disc brakes over drum brakes (better heat dissipation and shorter stopping distance) are expected to drive disc brake demand, which will drive the market for rubber-coated brake shims.

In 2020, the passenger car segment dominates the market.

The market has been divided into two segments based on vehicle type: passenger cars and commercial vehicles. In 2020, the passenger car segment dominated the market and is expected to continue to dominate throughout the forecast period. The growing demand for an efficient braking system that reduces braking noise and vibration to improve comfort is driving the segment growth. Disc brakes are becoming a standard feature in the majority of passenger cars available globally, and the number of brake pads required per vehicle is increasing, contributing to the rubber-coated brake shim market. Furthermore, the increase in the number of passenger cars has accelerated the global sales of rubber-coated brake shim. Global new passenger car sales increased from 55.8 million units in 2010 to 63.7 million units in 2019, according to the Organization Internationale des Constructeurs d’Automobiles (OICA).

Disc brakes are typically found in passenger vehicles, but due to their consistent performance at higher speeds and resistance to brake fade, they are increasingly finding their way into the commercial vehicle market. Some of the leading manufacturers of disk brakes for commercial vehicles include Akebono Brake Industry, Knorr-Bremse AG, and TMD Friction Services GmbH. As a result of the increasing use of disk brakes in commercial vehicles, the market for rubber-coated brake shim is expanding. Furthermore, rising commercial vehicle sales accelerated the market for rubber-coated brake shim. Global new commercial vehicle sales increased from 19.15 million units in 2010 to 26.95 million units in 2019, according to the Organization Internationale des Constructeurs d’Automobiles (OICA).

Focus on new production lines

Major players operating in the global rubber coated brake shims market include Brake Performance, Meneta Advanced Shim Technology, Nichias Corporation, Nucap Industries Inc, Stanztechnik Schulte Gmbh, Trelleborg Sealing Solutions Kalmar Ab, and Util Industries S.P.A. In November 2019 – Trelleborg Inaugurates New Production Line at its Swedish Brake Shim Facility that will enable Trelleborg to fulfill the commitment to delivering continued growth and meeting growing market demands. With the next evolution in brake shim materials, this will meet customers’ future needs.

Market Segmentation

Global Rubber Coated Brake Shims Market by Vehicle Type, 2015 – 2027

  • Passenger Cars
  • Commercial Vehicles

Global Rubber Coated Brake Shims Market by Distribution Channel, 2015 – 2027

  • Online/e-Commerce
  • Offline/Retail Stores

Global Rubber Coated Brake Shims Market by Sales Channel, 2015 – 2027

  • Original Equipment Manufacturers
  • After Market

Global Rubber Coated Brake Shims Market by Company, 2015 – 2027

  • Brake Performance
  • Meneta Advanced Shim Technology
  • Nichias Corporation
  • Nucap Industries Inc
  • Stanztechnik Schulte Gmbh
  • Trelleborg Sealing Solutions Kalmar Ab
  • Util Industries S.P.A.