Quantifying Growth: Unveiling Canada Automotive Brake Pad Market Size and Forecast by 2023-28, Boasting a CAGR of 3%

How big is the Canada Automotive Brake Pad market?

According to MarkNtel Advisors study, the Canada Automotive Brake Pad market is projected to grow at a CAGR of around 3% during the forecast period, i.e., 2023-28.

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Key Drivers: Rise in Road Safety Concerns and More Frequent Brake Part Replacements

As Canada is witnessing gradually increasing instances of road accidents fatalities, there are growing safety concerns among consumers. It, in turn, has compelled the Canadian government to impose strict norms for automobile manufacturers to use advanced brake components in their products, i.e., leading to surging sales of brake pads in the country.

Moreover, with rapid industrialization urbanization, the country is observing an increasing number of trade activities, which is resulting in more miles driven by commercial vehicles entwined with quick wear tear of brake components. Hence, more frequent replacements of brake parts are creating remunerative prospects for the automotive brake pad market.

Leading Companies in the Canada Automotive Brake Pad market:

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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Canada Automotive Brake Pad Market Segmentation:

By Vehicle Type

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

Of them all, passenger vehicles will continue dominating the Canada Automotive Brake Pad Market with the largest share throughout 2028.

By Material Type

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

By Demand Type

OEM
Aftermarket

Regional/ Countries Insight:

Northern Territories
Pacific Region
Prairie Provinces
Central Canada
Atlantic Region

Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.

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