The automotive brake friction products market share is expected to grow from US$ 10,387.3 million in 2021 to US$ 13,203.7 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.
The automotive brake friction products market is broadly segmented into five major regions — North America, Europe, APAC, MEA, and SAM. Asia Pacific region is expected to be the largest market. The market growth can be attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The increased vehicle production and upcoming stringent safety norms in China and India will boost the market. China is estimated to dominate the Asia Pacific brake friction products market during the forecast period.
Electric vehicles are projected to play an increasingly important role in North American transportation networks as a result of falling electric vehicle prices and increased acceptance by the general public. Studies claim that electric vehicles would account for at least 65% of overall car purchases in the US by 2050. As electric cars have regenerative braking in their system, the requirement of hydraulic braking got reduced. For instance, in 2020, the automobile industry in the US, delivered almost 14.5 million light vehicle units. This is expected to boost the automotive brake friction products market growth in the region.
Europe is one of the largest automotive markets in the world and home to many global vehicle and automobile part manufacturers. The future of the automotive tire market looks promising in the region, with the extension of tariff wars, impact of new technologies such as autonomous and electric vehicles, and changing preferences of millennial and younger generation consumers. The increasing prosperity of the overall automotive industry is expected to boost the automotive brake friction products market growth in the region.
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Automotive Brake Friction Products Market: Strategic Insights
Market Size Value in US$ 10,387.3 million in 2021 Market Size Value by US$ 13,203.7 million by 2028 Growth rate CAGR of 3.5% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Automotive Brake Friction Products Market: Strategic Insights
| Market Size Value in | US$ 10,387.3 million in 2021 |
| Market Size Value by | US$ 13,203.7 million by 2028 |
| Growth rate | CAGR of 3.5% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Automotive Brake Friction Products Market
The outbreak of the COVID-19 pandemic has slowed down economic growth; many industry verticals, such as healthcare infrastructure, automobile, entertainment & media, and education, faced numerous challenges due to the rising number of COVID–19 cases. Many enterprises have shifted their business models to remote working. Governments' stringent regulations, such as the imposition of lockdown, led to an upward trend in remote work. The automobile industry faced a supply chain disruption, which led to shortages of automotive brake frictions products such as disc brakes, brake shoes, brake liners, and drum brakes. However, during the pre COVID-19 pandemic, it was observed that there was a surge in personnel vehicles, positively impacting the automotive bake friction product market growth. From 2021, the lifting of lockdowns, and increase in sales of vehicles in 2021 has led to v—shape northward direction recovery growth of the automobile industry where it is started to dip or declined in the 2019. In addition, several governments taking key initiatives such as lowering taxes and reducing corporate tax for uplifting their economy.
Lucrative Regions for Automotive Brake Friction Products Market
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Increasing Rate of Vehicle Production
The global automotive industry is expanding in a northwest direction due to increased foreign direct investment (FDI) for instance, in July 2021, Waaree Energy Storage System, in collaboration with Zypp Electric, provides lithium batteries. On June 2021 in order to double down on India, ZF, a German automotive parts supplier, plans to invest around USD $218.36 (EUR 200 million) and strategically consolidate its business over the next decade. Fiat Chrysler Automobiles will invest $150 million in FCA ICT India, a new Global Digital Hub in Hyderabad, in January 2021. This is anticipated to propel the global automotive brake friction products market.
Disc Materials Segment Insights
On the basis of disc materials, the global automotive brake friction products market is divided into metallic, ceramic and composites. Steel wool or fibers in composite brake pads provide strength while also transferring heat away from the brake rotors. Composite brakes can be noisy and abrasive, resulting in increased rotor wear. For instance, Bosch Auto Parts provides a profiled aluminum mount, paired with a cast brake ring made of high-carbon grey cast iron in the composite brake disc, which is an innovative, lightweight product. Composite brakes have several advantages, including weight reduction of up to 20%, reduced fuel consumption and CO2 emissions, high levels of comfort, and excellent driving performance. The brake disc's innovative design and the use of high-quality materials to improve its resilience and deceleration characteristics through performance is anticipated to boost the automotive brake friction products market.
Automotive Brake Friction Products Market, by Disc Materials (% Share)
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Product Type Segment Insights
On the basis of products, the global automotive brake friction products market is divided into brake shoe, brake pad, brake disc, brake liner and drum brake. The brake lining is hard materials or substances attached to a brake pad to increase friction against the drum. Brake linings are the wearable surfaces in brake systems like drum brakes and disc brakes found in automobiles. Braking system components differ depending on the model and type, but their purpose and operation are the same. These linings apply frictional forces to a cylindrical drum connected to the wheel during braking to reduce the wheel's speed and improve vehicle control.
Vehicle Type Segment Insights
On the basis of vehicle type, the global automotive brake friction products market is divided into passenger vehicles and commercial vehicles. Passenger vehicle segment expected to hold significant share in the global market. The passenger vehicle market is heavily reliant on research and development, with products that must meet real-time customer needs. Furthermore, governments are putting pressure on passenger car manufacturers to produce fuel-efficient, low-emission vehicles, which has compelled them to invest heavily in research and development activities. This is anticipated to bolster the automotive brake friction products market.
The automotive brake friction products market players focus on new product innovations and developments by integrating advanced technologies and features to compete with the competitors. In March 2022, Nisshinbo Established a Joint Venture with Continental AG in India. It increases the production volume of automobiles, motorcycles, and the demand for valve blocks, which are the main parts of EBS.
On the basis of disc materials, the automotive brake friction products market is divided into metallic, ceramic and composites. On the basis of products, the global market is divided into brake shoe, brake pad, brake disc, brake liner and drum brake. On the basis of vehicle type, the global market is divided into passenger vehicles and commercial vehicles. By geography, the global market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Automotive brake friction products Market– Company Profiles
Automotive brake friction products Market– Company Profiles
- ABS Friction
- Akebono Brake Industry Co., Ltd.
- Bendix Spicer Foundation Brake, LLC
- Bosch Limited
- Carlisle Brake & Friction, Inc.
- Delphi Auto Parts
- Japan Brake Industrial Co., Ltd.
- Aisin Corporation
- Miba AG
- Nisshinbo Brake Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Disc Materials, Product Type, and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Increasing Rate of Vehicle Production Will Fuel the Demand for Automotive Brake Friction Products are driving the growth of the automotive brake friction products market. The global automotive industry is expanding in a northwest direction market growth, thanks to increased foreign direct investment (FDI). The pandemic has also prompted governments to reconsider their investment facilitation and promotion policies, which could help boost FDI in the coming years. However, the primary focus remains on increasing the number of new projects, diversification which is becoming more important. At the same time, intraregional connections, environmental issues, and the green economy are receiving more attention. For instance, on February 09, 2022, according to the Union Minister of State for Commerce and Industry, India has received USD 339.55 billion in foreign direct investment (FDI) from 2018-to 2022.
The market opportunity lies in Metal-Free Brake Pads Technology in Electric Vehicles. Phenolic composite brake pad backing plates are 75-percent lighter, inert and corrosion-free, thermally insulating, and have superior damping properties required for electric vehicle braking duty cycles. For instance, on 20 Mar-2020 NRS Brakes has introduced NRS EV brake pads engineered for electric and electric-hybrid vehicles that utilize regenerative braking and friction braking for the Tesla Model 3.
Based on disc materials, the global Automotive Brake Friction Products is divided into metallic, ceramic and composites. Composites type segment led the global Automotive Brake Friction Products in 2021.
In 2021, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America. APAC is a prospective market for automotive brake friction products developers.
The major five companies in the automotive brake friction products market include ABS Friction; Akebono Brake Industry Co., Ltd.; Bendix Spicer Foundation Brake, LLC; Bosch Limited; and Carlisle Brake & Friction, Inc.
On the basis of product type, the global Automotive Brake Friction Products is divided into brake shoe, brake pad, brake disc, brake liner and drum brake. The brake liner segment led The Automotive Brake Friction Products market in 2021.
The List of Companies - Automotive Brake Friction products Market
- ABS Friction
- Akebono Brake Industry Co., Ltd.
- Bendix Spicer Foundation Brake, LLC
- Bosch Limited
- Carlisle Brake & Friction, Inc.
- Delphi Auto Parts
- Japan Brake Industrial Co., Ltd.
- Aisin Corporation
- Miba AG
- Nisshinbo Brake Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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