DUBLIN--(BUSINESS WIRE)--The "Global Automotive Brake Friction Products Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Disc Materials, Product Type, and Vehicle Type" report has been added to ResearchAndMarkets.com's offering.
The global 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 vehicle architecture is changing with the evolution of the automobile industry, and many governments are forcing automobile manufacturers to develop safety assurance cars. Thus, many key players, along with governments, are investing a significant amount of capital in developing efficient, reliable automotive products which is anticipated to boost the automotive brake friction products market growth.
However, regardless of the future brake systems or vehicle architecture, brakes are the most important driving safety components, positively impacting the automotive brake friction products market. Vehicle architecture is evolving with the increasing automated driving capabilities. The increased use of brakes as a result of traffic congestion led to the changing of brakes; therefore, the demand for brake pads is rising, resulting in the automotive brake friction products market growth.
Asia Pacific is expected to be the largest automotive brake friction products market during the forecast period. The automotive brake friction products market growth in the region can be attributed to the improving socio-economic conditions in emerging economies, such as China, India, Indonesia, and Thailand.
The increasing vehicle production and upcoming stringent safety norms in China and India would also boost the automotive brake friction products market in the coming years. China is estimated to dominate the Asia Pacific automotive brake friction products market during the forecast period.
China is the world's largest vehicle manufacturer. Thus, the automotive brake friction products market in China is estimated to grow at a high rate in future. OEMs based in China are focusing on the adoption of lightweight materials for brake friction products. Also, the presence of global players is driving the adoption of safety features in vehicle models.
For instance, Shanghai Automotive Brake Systems Co., Ltd. is a joint venture between Huayu Automotive Systems Company Limited and Continental AG and is one of the largest suppliers of brake friction products in China.
Electric vehicles are projected to play an increasingly important role in North American transportation networks owing to the falling electric vehicle prices and increasing acceptance by the 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. Also, in 2020, the automobile industry in the US delivered almost 14.5 million light vehicle units. Europe is one of the largest automotive markets across the world. It is also a home to many global automobile and vehicle part manufacturers.
The future of the automotive tire market looks promising in the region owing to the extension of tariff wars, impact of new technologies such as autonomous and electric vehicles, and change in the 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 during the forecast period.
Semi-metallic brake pads, commonly known as "metallic brake pads," are readily available in the market, with metal content ranging from 30% to 65%. Steel, copper, or other metals are used to reinforce the metallic matrix. Their features such as high strength and thermal conductivity is anticipated to propel the global automotive brake friction products market.
The metallic disc has advantages over ceramic in terms of toughness and heat resistance which is also encouraging the segment growth in the automotive brake friction products market. It is less expensive and lends itself to heavy braking over a long stretch of road or track as it has 60% metal in it. Semi-metallic brake pads are most commonly found on high-performance race cars.
Metallic brakes provide better braking performance in a broader range of temperatures and conditions. They also do not compress as much as organic brakes, so less brake pedal pressure is required to affect stopping ability. Organic or non-asbestos aramid, kevlar, glass, or ceramic fibers are used to reinforce the organic matrix of ceramic pads.
Carbon ceramics are a high-performance material made from a combination of fibers, powders, and expensive resins. It was previously used in aerospace braking systems. Automobile manufacturers are now employing this technology in personal and sports vehicles which is propelling the automotive brake friction products market growth.
Ceramic brakes are less susceptible to deformation at extreme temperatures and last longer than traditional brakes. Unlike conventional brakes, they do not corrode, even in the winter. Metal brake discs are 50% heavier than ceramic brake discs. As a result, a ceramic brake reduces the load of vehicles. Ceramic brakes are excellent because they absorb heat from even the harshest, most abrupt stops. These pads are cleaner and quieter and last longer than organic pads, outperforming them.
The major stake holder operating automotive brake friction products market eco-system includes hardware & components, automotive brake friction products manufacturers, governmental organizations and end-uses. Components and hardware providers provide various components & parts to automotive brake friction products manufactures providers.
After the automotive brake friction products manufacturers, several peripheral stakeholders in the global automotive brake friction products play a crucial role in enabling the technology advancements and adoption of advanced automotive brake friction products such as ABS (Anti-lock braking system) and Ebd (Electronic brakeforce distribution). System integrators play a vital role in installing the automotive brake friction products. Some of the stakeholders include government organizations and regulatory bodies among others.
Key companies in the automotive brake friction products market include 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; and Nisshinbo Brake Inc. among others.
The report also comprises secondary research on other companies that hold a significant share of the automotive brake friction products market.
Key Market Dynamics
- Increasing Rate of Vehicle Production Will Fuel the Demand for Automotive Brake Friction Products
- Traffic Congestion and Evolving Vehicle Architecture to Increase the Demand for Replacement Units
- Improving the life of brake friction products in order to influence demand for replacements
- Metal-Free Brake Pads Technology in Electric Vehicles
- Rising trends towards enhanced Vehicle Safety with ABS and EBD
- 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.
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Laura Wood, Senior Press Manager
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