Bharat Book Bureau Provides the Trending Market Research Report on “Global Brake Friction Market, Forecast to 2025” underHeavy Industry category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
The need to decrease stopping distance and increase in vehicle production are expected to drive the brake friction OE market
Global brake friction (OE) market is projected to grow at aCAGR of 2.33% during the forecast period, from an estimated USD 13.48 billion in 2018 toUSD 15.84 billion by 2025. The growing production and installation of brake disc are expected to drive the demand for brake friction products during the forecast period. However, low penetration of disc brake in commercial vehicles can hinder the growth of the brake friction products market in the forecast period. Also, the brake friction aftermarket is projected to grow at aCAGR of 1.03% during the forecast period, from an estimated USD 29.778 billion in 2017 toUSD 31.99 billion by 2025. The growth of the brake friction aftermarket can be attributed to increased vehicle usage across the globe.
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Passenger cars market is estimated to showcase the fastest growth in terms of value
The brake friction OE market for passenger car is projected to grow at the highest CAGR during the forecast period from 2018 to 2025. Factors such as increasing production of passenger cars, growing awareness about safety, and better control and stability of the vehicle have led to an increase in the demand for disc brake friction system. Increasing disposable income levels are expected to increase the demand for personal cars, which in turn would increase the production of passenger cars.
Metallic brake disc is estimated to hold the largest share in brake friction market
The metallic brake disc is projected to be the largest segment of the brake friction market, by brake disc material. The majority of the present-day passenger cars are equipped with metallic brake disc that is cheaper than other disc types. The Asia Oceania region is estimated to be the largest market for metallic brake disc owing to the increasing vehicle production in countries such as India and China and low cost of the metallic brake disc.
North America to dominate the aftermarket for brake friction
The North American region comprises of developed economies such as US and Canada along with emerging economies such as Mexico. North America is estimated to dominate the brake friction aftermarket due to its largest vehicle parc and total miles driven per year. The region is the largest producer of LCVs, which include light trucks and SUVs. In addition, increasing traffic congestions and increase in average miles traveled are driving the demand for brake friction products in the aftermarket. The North American customers are more aware of safety regulations and hence change their brake friction products periodically. Also, the aftermarket in the region is organized. All these factors are expected to drive the brake friction aftermarket in the forecast period. However, increasing life of brake friction products can result in the stagnant growth of brake friction market in the region.
The study contains insights provided by various industry experts. The break-up of the primaries is as follows:
- By Company Type: Tier-1 - 55%, Tier-2 - 20%, and OEM - 25%
- By Designation: C level - 15%, Manager level – 45%, Other- 40%
- By Region: North America - 25%, Europe - 40%, Asia Oceania – 30%, RoW – 5%
Note: Others includes sales managers, marketing managers, and product managers
The company tiers are based on the value chain; the revenue of the company has been not considered
Tier I includes the manufacturers of brake friction, whereas Tier II includes the suppliers of components.
The key companies profiled in the study are Robert Bosch (Germany), Aisin Seiki (Japan), Nisshinbo Holding (Japan), Federal-Mogul (US), Brembo (Italy), Delphi (Now Aptiv) (UK), Tenneco (US), Akebono Brake Industries (Japan), Miba (Germany), and SGL Group (Germany).
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