Global Brake Friction Markets (OE & Aftermarket) to 2025 - Aisin Seiki, Brembo, and Robert Bosch are Dominating

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May 09, 2018, 11:15 ET

DUBLIN, May 9, 2018 /PRNewswire/ --

The "Brake Friction Market (OE & Aftermarket) by Type (Brake Disc, Pad, Drum, Shoe, Liner), Disc Type (Metallic, Composite, Ceramic), Liner Type (Molded, Woven), Vehicle Type (ICE, Electric, Hybrid, OHV), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The brake friction aftermarket is projected to grow at a CAGR of 1.03% during the forecast period, from USD 29.77 Billion in 2017 to USD 31.99 Billion by 2025. The increasing vehicle parc is the key factor driving the growth of the replacement market for brake friction.

The brake friction (OE) market is projected to grow at a CAGR of 2.33% during the forecast period, from an estimated USD 13.48 Billion in 2018 to USD 15.84 Billion by 2025. This growth can be attributed to the increase in demand for vehicles across the globe.

The brake friction market has been segmented on the basis of ICE vehicle, off-highway vehicle, electric & hybrid vehicle, friction products, aftermarket, and region. Brake disc and brake pad are estimated to be the fastest growing and largest segments of the brake friction (OE) market, respectively, in terms of value. The increasing demand for performance, braking control, and less stopping distance of the vehicle has increased the demand for disc and brake pads.

The brake disc is estimated to be the fastest growing market, by product, in terms of value. Most of the present-day vehicles are equipped with brake disc as these are easy to install, repair, and more durable than the drum brake. With advancements in brake friction technology, disc brake friction is expected to show higher growth than the drum brake system. Disc brake products have higher stopping power and durability as compared to drum brake products. Moreover, increasingly stringent emission norms are driving the demand for lightweight friction products such as ceramic disc brakes. Hence, the ceramic brake disc is estimated to grow at the highest CAGR during the forecast period.

The brake pad is the fastest growing aftermarket, by product, in terms of value. The installation rate of disc brake system in vehicles is high in developed countries and is estimated to increase in developing countries such as India and Brazil. Additionally, the demand for brake disc is expected to increase further with an increase in average velocity of a vehicle. Disc pads have a lower product life as compared to the brake disc. Hence, the brake pads need to be replaced periodically. The increasing installation of disc brake in new cars will create an opportunity for the brake pad aftermarket. Hence, the brake pad aftermarket is expected to grow at a high CAGR during the forecast period.

The passenger car is the largest and fastest growing segment of brake friction (OE) market, by ICE vehicle type, in terms of value. The increasing demand for brake friction in passenger cars can be attributed to the increasing installation rate of disc brake systems in passenger cars. HEV is estimated to be the largest market for brake friction, by electric & hybrid vehicle type, in terms of value. HEVs have the largest share of electric and hybrid vehicle sales across the globe. Owing to the increasingly stringent emission norms and growing pollution levels, the adoption of electric & hybrid vehicles has increased across the globe.

North America is expected to dominate the brake friction aftermarket during the forecast period. Increasing vehicle parc is expected to boost the market in this region. The presence of leading brake friction manufacturers is also driving the growth of the market in this region. In addition, North America has an organized brake friction aftermarket, which includes key players such as Federal Mogul, Brembo, and others. Increasing customer awareness and technological advancements make it easy for manufacturers to operate in the aftermarket in the North American region. Additionally, consumers are more interested in the braking performance and safety of the vehicle. Hence, the region is expected to dominate the brake friction aftermarket.

The key factors restraining the growth of the brake friction aftermarket are the presence of multiple regional players in the brake friction market and easy availability of counterfeit products. The choice of brake friction systems varies with vehicle type and cost. This leads to customization and adds to the overall cost of the brake friction system. Moreover, a lack of awareness about the replacement of brake friction at regular intervals can hinder the growth of the aftermarket. Additionally, growing environmental concerns across the globe have compelled manufacturers to develop eco-friendly and lightweight brake friction products. Hence, key players such as Federal Mogul and Robert Bosch have launched their aftermarket products.

The major players in the brake friction market are Robert Bosch (Germany), Aisin Seiki (Japan), Nisshinbo Holding (Japan), Federal-Mogul (US), Brembo (Italy), Delphi (UK), Tenneco (US), Akebono Brake Industries (Japan), Miba (Germany), and SGL group (Germany). These companies collectively account for a major share of the brake friction market.

Aisin Seiki, Brembo, and Robert Bosch are the dominant players in the brake friction market. The extensive competition in the automotive industry has compelled these companies to focus on innovation. The companies are focusing on introducing innovative products in brake friction technology. As the demand for lightweight components is increasing, the lightweight ceramic disc will impact the brake friction market for electric and hybrid vehicle to a great extent.

Market Dynamics

Drivers

Increase in Vehicle Production Will Fuel the Demand for Brake Friction Market
Growing Demand for Passenger Cars and Commercial Vehicles
Increasing Demand for Construction Equipment and Off-Highway Vehicles
Increasing Use of Brakes Due to Traffic Congestion to Increase the Demand for Replacement Units
Increasing Vehicle Parc & Vehicle Miles Traveled to Boost the Aftermarket

Restraints

Improving Life of Brake Friction Products to Influence the Demand for Replacement Units
Advancements in Brake Technologies to Eradicate the Use of Friction Materials
Developing Public Transport Services and Trends Such as Ride Sharing

Opportunities

Electric & Hybrid Vehicle Segments are Expected to Drive the Demand for Brake Friction Market in Coming Future
Use of Lightweight Material in Brake Friction Products
Eco-Friendly and Non-Toxic Brake Friction Products to Be New Avenues of Growth for Brake Manufacturers

Challenges

Government Regulations Related to Alloy Composition of Brake Friction Products
Counterfeit Brake Friction Products in the Aftermarket

Key Topics Covered

1 Introduction
1.1 Objectives
1.2 Product and Market Definition
1.3 Market Scope
1.4 Years Considered in the Report
1.5 Currency & Pricing
1.6 Package Size
1.7 Limitations
1.8 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.3 Data From Secondary Sources
2.4 Primary Data
2.5 Market Size Estimation
2.6 Data Triangulation
2.7 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in the Brake Friction Market
4.2 Brake Friction Market, By Country
4.3 Brake Friction OE Market, By Vehicle Type
4.4 Off-Highway Brake Friction (OE) Market, By Application
4.5 Electric & Hybrid Vehicle Brake Friction Market, By Vehicle Type
4.6 Automotive Disc Brake Market, By Disc Type
4.7 Automotive Brake Lining Market, By Lining Type
4.8 Brake Friction (OE) Market, By Product
4.9 Brake Friction (OE) Market, By Products
4.10 Brake Friction OE Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics

6 Brake Friction (OE) Market, By Product Type
6.1 Introduction
6.2 Brake Disc
6.3 Brake Pad
6.4 Drum Brake
6.5 Brake Shoe
6.6 Brake Liner

7 Off-Highway Brake Friction (OE) Market, By Application
7.1 Introduction
7.2 Agricultural Tractors
7.3 Construction Equipment

8 Electric & Hybrid Vehicle Brake Friction (OE) Market, By Vehicle Type
8.1 Introduction
8.2 Battery Electric Vehicle
8.3 Hybrid Electric Vehicle
8.4 Plug in Hybrid Electric Vehicle

9 Brake Friction (OE) Market, By Vehicle Type
9.1 Introduction
9.2 Passenger Car
9.3 LCV (Light Commercial Vehicle)
9.4 Trucks
9.5 Buses

10 Brake Liner (OE) Market, By Liner Type
10.1 Introduction
10.2 Molded Brake Liner
10.3 Woven Brake Liner

11 Brake Disc (OE) Market, By Material Type
11.1 Introduction
11.2 Metallic Brake Disc
11.3 Composite Brake Disc
11.4 Ceramic Brake Disc

12 Brake Friction Aftermarket, By Region
12.1 Introduction
12.2 Asia Oceania
12.3 Europe
12.4 North America
12.5 RoW

13 Competitive Landscape
13.1 Overview
13.2 Market Share Analysis
13.3 Competitive Situation & Trends

14 Company Profiles
14.1 Robert Bosch
14.2 Aisin Seiki
14.3 Nisshinbo
14.4 Federal-Mogul
14.5 Brembo
14.6 Delphi
14.7 Tenneco
14.8 Akebono
14.9 Miba
14.10 SGL
14.11 Meritor
14.12 Additional CPS

For more information about this report visit https://www.researchandmarkets.com/research/tqwld8/global_brake?w=5

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