According to Cognitive Market Research, the global Brake Pads market size is USD 4136.5 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2031.
North America held the major market of more than 40% of the global revenue with a market size of USD 1654.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 1240.95 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 951.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
The Latin American market will account for more than 5% of global revenue and have a market size of USD 206.83 million in 2024. It will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The Middle East and Africa held the major markets, accounting for around 2% of the global revenue. The market was USD 82.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
The ceramic brake pads held the highest Brake Pads market revenue share in 2024.
