Brake Friction Products Market: Current Analysis and Forecast (2021-2027)
Emphasis on Product Type (Brake Disc, Pad, Drum, Shoe, Liner); Disc Material (Metallic, Ceramic, Other); Liner Type (Molded, Woven); Vehicle Type (Passenger, Commercial); and Region/Country
Global Brake Friction Products Market is anticipated display a CAGR of around ~3% over the forecast period (2021-2027). The use of brakes when driving rises as traffic congestion increases. More braking wears out the brake pads and diminishes braking power. When braking power is reduced, there is a strong need for brake pads and brake shoes to be replaced. As a result, replacing the brake raises the need for brake pads, causing the brake friction market to develop. The introduction of disc brakes to improve the braking system in automobiles has resulted in an increase in demand for automotive brake friction materials, mostly from the automotive sector. The market is being pushed by increased interest in commercial and passenger cars, which has resulted in the development of automotive brake friction materials for use in automotive parts.
Insights Presented in the Report
“Amongst Product Type, Brake Disc segment dominated the market in 2020”
Based on Product Type, the market is segmented into Brake Disc, Pad, Drum, Shoe and Liner. The Brake Disc segment is expected to grow at a higher CAGR during the forecasted period. The vehicle segment is led by disc brake technology. The excellent performance of disc brakes, strict brake emission regulations, vehicle safety and stopping distance, and rising popularity of disc brake technology are all factors that are predicted to drive disc brake usage in the future.
“Amongst Disc Material, Ceramic segment dominated the market in 2020.”
Based on Disc Material, the market is segmented into Metallic, Ceramic and Other. The Ceramic segment is expected to grow at a higher CAGR during the forecasted period. Metallic brake pads are noisier than ceramic or other brake pads, resulting in a noisier ride. Metallic brake pads also exert extra strain on the braking system, causing the brake rotors to wear down faster. Ceramic brake pads are more dependable in a wider range of temperatures and driving situations than metallic brake pads.
“Amongst Liner Type, Molded segment dominated the market in 2020.”
Based on Liner Type, the market is segmented into Molded and Woven. The Molded segment is expected to grow at a higher CAGR during the forecasted period. Because of its features like longevity in performance, water resistance etc. the demand for molded liner is expected to increase during the forecasted period.
“Amongst Vehicle Type, Passenger segment dominated the market in 2020.”
Based on Vehicle Type, the market is segmented into Passenger and Commercial. The Passenger segment is expected to grow at a higher CAGR during the forecasted period. The passenger car segment is estimated to be the largest and the fastest-growing market for brake friction products because of the higher production of passenger cars than commercial vehicles. The demand for passenger cars has been very high from countries like China, India which is further fuel demand of brake friction products.
“Asia Pacific represents as the largest market.”
Based on the estimation, during the projection period of 2021-2027, Asia Pacific is expected to grow at a higher CAGR. The improvement in socioeconomic conditions of growing countries such as China, India, Indonesia, and Thailand can be linked to the expansion. The market for brake friction products would be boosted by growing vehicle production and future severe safety standards in China and India. China and India’s expanding need for trucks, buses, railways, industrial machinery, and robotics is driving demand for friction materials in a variety of applications. Because of the region’s significant expansion in the automotive and aerospace industries, the Asia Pacific automotive brake friction materials market is expanding. Rapid development and rising demand for personal automobiles are propelling the global automotive brake friction materials market forward. Some of the major players operating in the market includes Aisin Corporation, Robert Bosch, Nisshinbo Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul Corporation, Delphi Technologies, ANAND Group, Akebono Brake Industry Co., Ltd., Miba AG etc.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional & country-level analysis of the industry
Customization Options:
The Global Brake Friction Products Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
The global increase in vehicle manufacturing is driving the brake friction industry. Braking systems, which are made up of various brake friction components, are installed on every vehicle. Disc brake systems, for example, include rotors and pads, whereas a drum brake has a brake shoe and a braking drum. The growing desire for comfort and convenience has resulted in a growth in vehicle manufacturing all over the world. Furthermore, improving economic conditions and rising population have resulted in a rise in car manufacturing in several locations. As a result, the market for brake friction products has grown. Every car has a brake system that stops or slows down the vehicle. As the number of cars produced rises, so does the need for brake components, propelling the industry forward. Furthermore, increased usage of brakes decreases brake shoe size, power, and time to replace, resulting in an increase in the brake friction market.
Automotive brake friction products are comprised of all components that aid in the vehicle’s stopping or slowing down. Brake friction goods for automobiles include brake pads, brake drums, brake shoes, discs, and liners. A brake pad usually has an asbestos or semi-steel plated back that faces the braking disc. They help the car stop by converting the vehicle’s kinetic energy into mechanical energy. Furthermore, two brake pads are stored in a caliper positioned on the disc in disc braking systems. Brake friction products, such as a braking shoe, push outward and stop the rotational motion of the brake drum in drum brakes. Manufacturers have been pushed to focus on improving vehicle safety due to rigorous government requirements and the adoption of federal laws. Over the projected period, this will raise demand for automotive brake friction products and drive market growth in the automotive brake friction products market.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Brake Friction Products Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Brake Friction Products, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by product type, disc material, liner type, vehicle type. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Brake Friction Products Market in the global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing government incentives and demand for eco-friendly transportations etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Brake Friction Products across the major markets
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Brake Friction Products Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Brake Friction Products market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of service type, vehicle type, and region.
The main objective of the Brake Friction Products Market Study
The current & future market trends of Brake Friction Products were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Brake Friction Products in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include type, application, and vehicle
- Defined analysis of the regulatory framework for the Global Brake Friction Products industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Brake Friction Products for the major regions & countries
- Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Spain, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
- Company profiles of the Brake Friction Products Market players and the growth strategies adopted by them to sustain in the fast-growing market
- Deep dive regional & country level analysis of the industry
Related Reports
Customers who bought this item also bought
India 3PL Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Services (Domestic Transportation Management, International Transportation Management, Value-Added Warehousing and Distribution); By End User (Automobile, Chemical, Construction, Consumer Retail, Energy, Manufacturing, Life Sciences and Healthcare, Technology, and Others), and Regions (North India, East India, West India, and South India)
November 5, 2024
