The rising demand for electric vehicles promises major growth for the automotive brake pads market. According to historic data, electric components contributed to just 1% of vehicle make-ups during 1930. However, today this make-up amounts to more than 30% in all vehicles. Moreover, International Energy Agency estimates that over 9 million people have delayed their demand for vehicle purchase in 2019, and this demand will likely be restored as financial crisis during the covid-19 pandemic promises to settle down with the vaccination drives on the horizon. Furthermore, the advent of technologies like 3D printing, automotive installation, repair, and maintenance promise to get a major boost, along with key cost-effective, and improved efficiency in automotive brake pad manufacturing.
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