Brake Friction Market Size, Trends, Shares, and Forecast - 2031

MARKET OVERVIEW

Increasing traffic congestion is another major factor bolstering the market for brake friction systems and the trend is anticipated to grow, resulting in market growth in the coming years. The aftermarket of automotive braking system is also a key driver for brake friction market. However, counterfeit products in the market is inhibiting the market for brake friction in the current scenario. The development of lightweight and composite material brake friction systems is anticipated to attract new customers, thereby escalating the brake friction market in the future.

MARKET SCOPE

The "Global Brake friction Market Analysis to 2031" is a specialized and in-depth study of the automotive and transportation industry with a special focus on the global market trend analysis. The report aims to provide an overview of Brake friction market with detailed market segmentation by brake types, brake material type, component, distribution channel, vehicle type, and geography. The global brake friction market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading brake friction market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on brake type, the market is segmented as Disc Brake, Drum Brake
  
•   On the basis of brake material type, the market is segmented into Metallic, Composite, Ceramic
  
•   Based on component, the market is segmented into brake shoes, brake pads, brake liners, and others
  
•   On the basis of distribution channel, the market is fragmented into OEMs, Aftermarket
  
•   Based on vehicle type, the market is segmented into passenger cars, light commercial vehicle, heavy commercial vehicle
  

MARKET DYNAMICS

Drivers:

•   Mounting Demand for Construction Equipment and Off-Highway Vehicles
  
•   Growing Vehicle Parc & Vehicle Miles Travelled to Boost the Aftermarket
  

Restraints:

•   Developing Public Transport Services and Trends Such as Ride Sharing.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Brake friction market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive Porters five force analysis highlighting factors factors affecting the Brake friction market in these regions.

IMPACT OF COVID-19 ON BRAKE FRICTION MARKET

The outbreak of the COVID-19 has severely impacted the automotive and transportation, and other related industries. The emergence of COVID-19 virus across the globe which led to lockdown scenarios has led to unprecedented series of border closures across the globe. This disruption in global supply chain is expected to leave an impact on the industry through till mid-2021. However, demand for automotive related products such as Brake friction has remained unaffected as the budgets for manufacturing of vehicle had been allocated prior to the pandemic. They are making considerations about vehicle design and materials to efficiently allocate budgets for production. This is expected to drive the brake friction market.

MARKET PLAYERS

The report covers key developments in the Brake friction market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Brake friction market are anticipated to lucrative growth opportunities in the future with the rising demand for Brake friction in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Brake friction market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
Bosch Auto Parts
Akebono Brake Corporation
Nisshinbo Brake Inc.
ABS Friction
Japan Brake International Co., Ltd.
Bendix Spicer Foundation Brake LLC
Delphi Auto Parts
MIBA AG
LUMAG SP. Z.O.O
Carlisle Brake & Friction
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Brake Friction Report Scope