Canada Automotive Brake Pad Market Insights:

According to MarkNtel Advisors, the Canada Automotive Brake Pad Market is expected to grow at a CAGR of around 3% during the forecast period, i.e., 2023-28. The market growth is influenced directly by Canada's automotive sector, i.e., driven mainly by growing sales of vehicles, especially EVs (Electric Vehicles), across the country on account of improving disposable income of consumers, along with substantial government & private sector investments in the automobile industry.

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Canada Automotive Brake Pad Market Definition:

Brake pads, a crucial component of the automotive braking system, which, when pressed against the rotor by a caliper, help slow down or stop the vehicle. The rise in safety concerns among vehicle owners owing to the growing number of road accidents & casualties is leading to rapidly increasing requirements for brake pads with better materials & a higher friction coefficient across Canada.

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Growth Restraint: Significantly High Costs of Maintaining & Repairing Brake Parts

With rapid & notable advancements in the automotive sector, many braking technologies have emerged that deliver superior braking performance, particularly at high speeds. Due to these developments and the expensive research behind them, the maintenance & repair of brake components has become significantly high, i.e., a major growth restraint for the Automotive Brake Pad Industry in Canada during 2023-28.

Canada Automotive Brake Pad Market Segmentation:

-By Vehicle Type

  • Passenger Car
  • Light Commercial Vehicle (LCV)
  • Heavy Commercial Vehicle (HCV)

-By Material Type

  • Semi-Metallic
  • Non-Asbestos Organic (NAO)
  • Low-Metallic and Ceramic

-By Demand Type

  • OEM
  • Aftermarket

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Canada Automotive Brake Pad Market Geographically Analysis:

-By Region

  • Northern Territories
  • Pacific Region
  • Prairie Provinces
  • Central Canada
  • Atlantic Region

Canada Automotive Brake Pad Leading Companies:

  • Hardex Brakes
  • Ideal Brake Parts
  • Areion Brakes
  • Midas
  • German Parts. Ca
  • ABS Friction
  • Royal Brakes Canada
  • Wagner
  • Pertec Brake Pads Ltd.
  • NRS Brakes
  • Others

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