Brake Friction Products Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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The global brake friction products market is expected to witness growth at a compounded annual growth rate (CAGR) of 3.7% during the forecast period of 2022-2030.

Brake friction products include products that aid in either reducing the speed or stopping a vehicle. These include various products such as brake pad, brake shoe, brake drum, rotor, disc, and liner. Brake pads, which form an integral part of the disc braking system, comprise asbestos or semi-steel plated back facing the brake disc. These pads convert the kinetic energy into mechanical energy, which helps the vehicle in stopping. Moreover, the disc brake system consists of two brake pads in the caliper mounted on the disc. Drum brake products include brake shoes, which press on the drum's inner surface and stop the brake drum's motion.

Growth Drivers:

The factors primarily driving the growth of this market include: The rising safety concerns and standards globally; the growing number of road accidents worldwide; the increasing number of stringent brake emission norms for stopping distance & vehicle safety, especially in Europe and North America; and the burgeoning demand and installation rate of brake discs in passenger cars across the globe.

Additionally, the production of vehicles across the globe is rising at a rapid rate. Brakes form a critical component of every vehicle as it aids in stopping or slowing down of the vehicles. The escalating production of vehicles results in an increased requirement for brake components. Alongside, due to increasing traffic congestion globally, the usage of brakes while driving is also increasing. This rise in the usage of brakes decreases the brake shoe size, hampers the brake pads, and reduces the braking power. Due to this, there arises a need for a change of brake pads of brake shoes. All these factors significantly aid in fueling the growth of the global brake friction products market.

Moreover, the leading players operating in the brake friction products market are investing heavily in enhancing their R&D activities. Due to the rolling out of stringent emission norms, component manufacturers are being forced to decrease the weight of components to reduce emissions and increase the fuel efficiency of vehicles. For instance, Bosch recently launched a new brake disc to bring down pollution due to brake dust.

However, factors such as the ban in the usage of asbestos as a friction material in various countries across the globe and the growing advancements in brake technologies to curtail the usage of friction material are expected to restrain the growth of the global brake friction products market to a certain extent during the forecast period.

Brake Friction Products Market Segmentation:

By Product Type:

·         Brake Discs

·         Brake Pads

·         Drum Brakes

·         Brake Shoes

·         Brake Liners

 

By Vehicle Type:

·         Passenger Cars

·         LCVs

·         HCVs

 

By Market Type:

·         Original Equipment Supplier (OES)

·         Independent Aftermarket

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Based on vehicle type, the passenger cars segment acquired the largest share of the global brake friction products market in 2021. The segment is projected to continue to stay at the top and attain the highest growth in the market during the forecast period. This can be majorly attributed to the comparatively higher production of passenger cars than commercial vehicles across the globe.

 

Based on product type, the brake discs segment dominated the global brake friction products market in 2021. The segment is anticipated to retain its lead in the market during the forecast period of 2022-2030 due to the growing popularity and penetration of disc brake systems in different vehicle segments worldwide due to its high performance.

 

Regional Outlook:

The Asia Pacific region led the global brake friction products market in 2021. The region is poised to further remain dominant throughout the forecast period of 2022-2030. The major factors driving the market in the region include the high vehicle production, the growing number of stringent safety norms, and the presence of well-established market players in the region. Furthermore, the ever-increasing population, the enhancing socio-economic conditions, especially in the developing countries, and the surging disposable incomes of people leading to an enhanced demand for premium and ultra-premium vehicles in the region are also expected to significantly contribute to the growth of the market during the forecast period. India, China, Japan, Indonesia, and Thailand are the leading contributors to the growth of the market in the region.

The North American region captured the second-largest share of the global brake friction products market in 2021. The region’s position is likely to remain the same, and the region is expected to further witness robust growth in the market during the forecast period. The increasing number of players operating in the region’s aftermarket owing to the presence of organized replacement market; the high replacement of brake friction products; the rising average miles driven; the growing vehicle park; the augmenting concerns regarding braking distance and safety, and the escalating launch of advanced brake friction products in the region are some of the major factors ascribed to the growth of the brake friction products market in North America. The U.S. and Canada stand as the major contributors to the growth of the market in the region.

Key Companies in Brake Friction Products Market:

·         Continental

·         Delphi Automotive

·         SGL Carbon AG

·         Robert Bosch

·         AISIN CORPORATION

·         Nisshinbho Holdings Inc.

·         Brembo S.p.A

·         Tenneco Inc.

·         Federal-Mogul

·         TRW

·         Gold Phoenix

·         Klasik

·         BoyunAkebono Brake Industry

·         Bendix

·         Sangsin

·         Longji Machinery

·         MIBA AG

·         BPW

·         Hongma

·         Other Players

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