Brake Friction Products Market Size is estimated to grow at a CAGR of 3.7% during the forecast period

 

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.

Products used in brake friction include those that help slow down or stop a moving object. These comprise a range of items such brake pads, shoes, drums, rotors, discs, and liners. The back of the brake pads, which are a crucial component of the disc braking system, is made of asbestos or has a semi-steel plating. The vehicle can stop more easily thanks to these pads since they transform kinetic energy into mechanical energy. The disc brake system also includes two brake pads that are housed in a caliper that is attached to the disc. Brake shoes, which apply pressure to the brake drum's inner surface and halt rotation, are among the drum brake products.

 

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Growth Drivers:

Globally rising safety standards and concerns, an increase in traffic accidents, more stringent emission standards for stopping distance and vehicle safety, particularly in Europe and North America, and an increase in the demand for and installation rate for brake discs in passenger cars are the main factors propelling the growth of this market.

Additionally, the rate of global automobile production expansion is accelerating. Every vehicle needs brakes because they help with stopping or slowing down the vehicles. There is a rising need for brake components as a result of increased vehicle production. Additionally, as traffic congestion increases worldwide, more people are using their brakes while driving. This increase in brake usage causes the brake shoe size to shrink, the brake pads to perform worse, and the braking force to diminish. As a result, it becomes necessary to change the brake shoes or brake pads. The market for brake friction products is being fuelled by all of these reasons in a big way.

However, the growing advancements in brake technologies to limit the use of friction material and the global ban on the use of asbestos as a friction material are expected to limit the growth of the global brake friction products market to some 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

 

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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xResearch is a market research and consulting organization that uses unique data, expert analysis, and new technologies to create trusted intelligence on industries. Our research is focused on delivering an informed and impartial view on essential market data of industry, and it is primarily driven by an in-depth study covering the following parameters: Market Sizing and Forecasting, Market Segmentation, Competitive Analysis, Strategic Assessment and Business Modelling.

                                   

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