PUNE, India, April 24, 2018 /PRNewswire/ --
According to a new market research report "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", published by MarketsandMarkets™, the market is projected to grow at a CAGR of 2.33% from 2018 to 2025, and the market size is estimated to grow from USD 13.48 Billion in 2018 to USD 15.84 Billion by 2025. The market is anticipated to grow owing to factors such as growing vehicle production, increasing concerns of safety & comfort, stopping distance regulations, and demand for better stopping performance. The Brake Friction Aftermarket is projected to grow at a CAGR of 1.03% during the forecast period, from an estimated USD 29.77 Billion in 2017 to USD 31.99 Billion by 2025. The growing vehicle parc and increase in total miles driven per year per country will drive the brake friction aftermarket. Also, the increasing installation of disc brakes, which are high on performance and durability, is projected to drive the demand for brake friction products.
Browse 91 market data Tables and 61 Figures spread through 178 Pages and in-depth TOC on "Brake Friction Market (OE & Aftermarket)"
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Passenger car is estimated to be the largest segment in Brake Friction Market.
Factors such as growing consumer disposable income and increasing vehicle ownership with easy finance options have led to the rise in passenger car sales. In addition, economic manufacturing cost, availability of cheap labour, and government FDI policy have helped Asia emerge as the largest producer of passenger cars globally. With increase in production as well as sales of passenger cars, the segment is projected to dominate the brake friction products OE market as well as aftermarket.
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Brake disc is estimated to be the fastest growing segment of the Brake Friction (OE) Market
Today's passenger cars use a front disc and rear drum or all disc brakes (in case of premium vehicles). Factors such as the growing demand for premium passenger cars, advancements in the disc brake technology, lowered costs, stopping distance regulations, and advantages offered by disc brakes over drums (better heat dissipation & shorter stopping distance) are expected to drive the growth of the brake disc market. The penetration of disc brakes has also grown in light commercial vehicles. Therefore, the disc brake friction products are projected to dominate the brake friction products market.
North America is estimated to be the leading aftermarket for brake friction
With the highest vehicle parc and increase in average miles driven, North America is estimated to be the largest aftermarket for brake friction products. The LCV segment accounts for the largest share of Brake Friction Aftermarket. Additionally, many players operate in the region's aftermarket due to the easy availability of organized replacement market and strict rules against counterfeiting of products. Federal-Mogul, for instance, offers aftermarket brands such as Jurid, Ferodo, and Abex. Increasing vehicle parc and increasing concerns about braking distance and safety are propelling the aftermarket players to launch advanced brake friction products. Hence, the replacement of brake friction products has increased in the region.
The major players in the Brake Friction Market are Robert Bosch (Germany), Aisin Seiki (Japan), Nisshinbo Holding (Japan), Federal-Mogul (US), Brembo (Italy), Delphi (Now Aptive) (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.
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