Brake Friction Products Market Overview
The Brake Friction Products Market size was estimated at USD 11.79 billion in 2023 and is projected to reach USD 16 billion in 2030 at a CAGR of 4.47% during the forecast period 2023-2030.
Brake friction products refer to the components used in braking systems to generate friction and facilitate the stopping or slowing down of vehicles. There are two main types of brake friction materials: disc brake pads and drum brake linings. Disc brake pads are steel backing plates with friction material bonded to the surface that faces the disc brake rotor. They are commonly used in automotive and other applications. Drum brake linings, on the other hand, are used in drum brakes and provide friction against the drum to slow down or stop the vehicle. Brake friction products play a critical role in ensuring effective braking performance, safety, and durability in various types of vehicles.
The market for brake friction products is driven by several factors. One driver is the increasing demand for vehicles and the subsequent need for reliable and efficient braking systems. As the automotive industry continues to grow, the demand for brake friction products rises in tandem. Additionally, stringent brake emission norms and regulations drive the market as manufacturers focus on reducing emissions and increasing fuel efficiency. The development of new technologies by tier-I companies and OEMs, along with investments in research and development, also contribute to the growth of the brake friction products market. These drivers collectively shape the market by addressing safety concerns, meeting regulatory requirements, and catering to the evolving needs of the automotive industry.
However, there are several factors hampering the growth of the market. One key restraint is the increasing popularity of electric vehicles (EVs) and their impact on the demand for brake friction products. EVs typically have regenerative braking systems that rely less on traditional friction-based braking, resulting in reduced wear and tear on brake friction products. This shift towards EVs poses a challenge for manufacturers in terms of adapting their product offerings and strategies to cater to the changing market dynamics. Additionally, the market faces limitations due to the availability of alternative braking technologies, such as electromagnetic brakes and hydraulic brakes, which offer different advantages and may compete with traditional brake friction products.
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The COVID-19 pandemic has had a negative impact on the brake friction products market. Due to the implementation of stringent lockdown measures and restrictions on mobility, there has been a significant decline in vehicle usage and miles travelled. This decline in traffic and vehicle activity has resulted in a decreased demand for brake friction products. The spread of COVID-19 has disrupted supply chains, manufacturing operations, and distribution networks, leading to challenges in the production and availability of brake friction products. However, as the global economy recovers and restrictions are lifted, the brake friction products market is expected to gradually rebound, driven by the resumption of vehicle production and increased demand for automotive components.
Delvens Industry Expert's Standpoint
The Brake Friction Products Market is expected to grow during the forecast period. This growth can be attributed to several factors. Increasing demand for vehicles and the need for reliable braking systems, stringent brake emission norms, and the development of new technologies by tier-I companies and OEMs are expected to drive the growth of the market. These drivers contribute to the growth of the market by addressing safety concerns, meeting regulatory requirements, and catering to the evolving needs of the automotive industry. On the other hand, the market faces restraints such as the rising popularity of electric vehicles (EVs) and their impact on the demand for traditional brake friction products. The shift towards EVs with regenerative braking systems poses a challenge for manufacturers to adapt their product offerings. Additionally, the availability of alternative braking technologies, such as electromagnetic brakes and hydraulic brakes, presents limitations and competition for traditional brake friction products.
Key Findings
- Based on type, the market is segmented into Brake Disc, Pad, Drum, Shoe, Liner. Brake disc is expected to dominate the market in this segment. The superior performance of disc brakes, strict brake emission regulations, vehicle safety and stopping distance, and growing popularity of disc brake technology are anticipated to encourage vehicle use of this technology in the future.
- Based on disc type, the market is bifurcated into Metallic, Composite, Ceramic. Metallic disc type dominated the market in this segment. This is due to their low cost, high durability, and good performance under a wide range of conditions.
- Based on liner type, the market is segmented into Molded, Woven. Molded liners dominated the market in this segment. Molded liners are more durable and have a longer lifespan than woven liners. They are also less likely to fade under high temperatures and pressures. As a result, molded liners are the preferred choice for high-performance vehicles.
- Based on vehicle type, the market is segmented into passenger vehicles, commercial vehicles. Passenger vehicles dominated the market in this segment. This is due to factors such as higher production of passenger vehicles in recent years, shorter replacement cycles and growing demand for safety features.
- The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. Asia Pacific is estimated to account for the largest market share during the forecast period. This is primarily due to the region's large and growing automotive industry, as well as the increasing demand for aftermarket brake parts. China, India, and Japan are the key markets in the Asia Pacific region.
Brake Friction Products Market Regional Analysis
Asia Pacific to Dominate the Market
- North America is estimated to account for the largest market share during the forecast period because of the rising demand for aftermarket brake parts.
- Moreover, the rapidly growing automotive industry also help to the market expansion in the area.
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Brake Friction Products Market Competitive Landscape
- ABS Friction
- Aisin Seiki
- Akebono Brake Industries
- Bendix Spicer
- Brembo
- Continental AG
- Delphi
- Federal-Mogul
- FTE automotive
- ITT Inc.
- Japan Brake Industrial Co., Ltd
- Macas Automotive
- Masu brakes Pvt Ltd
- Meritor, Inc.
- Miba
- Nisshinbo Holding
- Robert Bosch
- SGL Group
- Standard Friction Components Ltd
- Sundaram Brake Linings Ltd
- Tenneco
Brake Friction Products Market Recent Developments
- In April 2022, in order to improve comfort and performance in internal combustion engines (ICEs) and electric vehicles (EVs), Tenneco produced sophisticated original equipment manufacturer hybrid friction material composites. The novel hybrid friction material will combine the advantages of non-asbestos-organic (NAO) and low steel (LS) composites. This special hybrid composite material is designed to fit electric cars.
- In March 2022, Brembo declared its formal collaboration for brake systems with Gran Turismo TM 7. Gran Turismo TM 7's distinctive braking solutions, which provide the ultimate driving experience, will cover high performance and dependability. Additionally, Brembo is offering its UPGRADE systems, which come with eight different color options for the GT|BM calipers and Carbon Ceramic discs.
Brake Friction Products Market Reasons to Acquire
- Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
- Gain authentic and granular data access for the Brake Friction Products Market to understand the trends and the factors involved in changing market situations.
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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