Automotive Aftermarket for Brake Parts in North America by Product and Performer

Report Overview

Number of Vehicles in Use and Lightweighting Trends Promote Aftermarket Demand

Aftermarket demand for automotive brake parts in North America is forecast to advance 2.6% per annum through 2021 to $4.3 billion. Sales will be boosted by:

• increases in the size and age of the region’s light vehicle park

• lightweighting trends in automotive manufacturing, leading to OEM installation of thinner, lighter brake parts that need to be replaced more frequently

• the ready availability of less expensive imports that makes it more affordable to replace rather than resurface rotors and drums, but reduces replacement intervals due to their lower quality and durability

• increases in raw materials and product prices

• legislation restricting hazardous materials content, particularly in Canada and the US, that will promote sales of higher-value brake parts

Market advances, however, will be tempered by the lower cost of many imported brake parts, as well as by lax hazardous materials regulation in Mexico, which promotes the sale of less expensive imports over more expensive parts made in the region. However, the low cost of these products will be offset to a degree by their lower quality, which will require them to be replaced more frequently.

Key Findings in the Automotive Aftermarket for Brake Parts Study

US to see largest net gains through 2021, Mexico fastest growth

While average annual market advances in the US will lag those of Mexico and Canada, the US will still account for 78% of all North American brake part sales gains through 2021 in value terms, due to its large and aging light vehicle park, as well as the higher average number of miles travelled per light vehicle.

Aftermarket brake parts demand in Mexico will expand at the fastest rate in North America, albeit from a relatively small base. Factors buoying demand in Mexico include:

• above average increases in the number of light vehicles in use

• the advanced age of the country’s light vehicle park, increasing the likelihood that brake system components will need to be repaired or replaced

Shoes, pads, & linings dominate

Shoes, pads, and linings account for the largest single share of regional automotive aftermarket brake part demand and will register the biggest gains through 2021 in value terms. These are wear parts that must be replaced regularly, boosting aftermarket product requirements. Rising raw materials costs have been offset somewhat by increased use of lower-priced imports from countries including China and India. A trend away from the installation of brake drums by OEMs will lead to a shift in the product mix, dampening replacement demand for brake shoes and drums but boosting sales of disc brake pads, linings, and rotors.

Study Coverage

This study presents historical demand data (2006, 2011, and 2016) and forecasts (2021) by product category (shoes, pads, & linings; rotors; cylinders & calipers; drums; ABS-related parts; and other), country (US, Canada, Mexico), and performer (professional and consumer/DIY). The study also evaluates company market share and competitive analysis on industry competitors including Akebono Brake Industry, Brake Parts, Brembo, CARDONE Industries, Continental, CWD, Centric Parts, Federal-Mogul, MAT Holdings, and Power Stop.