Global Automotive Aftermarket Brake Friction Parts Market to Reach US$3.9 Billion by 2030, Fueled by a 2.7% CAGR

DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Automotive Aftermarket Brake Friction Parts - Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

The global market for Automotive Aftermarket Brake Friction Parts, valued at US$3.2 billion in 2022, is projected to grow to US$3.9 billion by 2030, with a compound annual growth rate (CAGR) of 2.7% during the analysis period of 2022-2030.

Among the segments analyzed in the report, Brake Pads are expected to lead the growth with a CAGR of 2.8%, reaching US$2.8 billion by the end of the forecast period. The Brake Shoes segment is estimated to grow at a CAGR of 2.3% over the next 8 years.

Key Market Insights:

• The U.S. Automotive Aftermarket Brake Friction Parts market is estimated at US$798 million in 2022.
• China, the world's second-largest economy, is forecasted to reach a market size of US$612.1 million by 2030, with a CAGR of 4.2%.
• Japan and Canada are also noteworthy markets, expected to grow at 1.4% and 2% respectively from 2022 to 2030.
• Germany, within Europe, is forecasted to grow at approximately 2.1% CAGR.

Select Competitors:

Key players in the Automotive Aftermarket Brake Friction Parts market include:

• ABS Friction Inc.
• Advics Co. Ltd.
• Akebono Brake Industry Co. Ltd.
• Continental AG
• Delphi Technologies
• Federal-Mogul Motorparts LLC
• Fras-Le S.A.
• Japan Brake Industrial Co. Ltd.
• Nan Hoang Traffic Instrument Co. Ltd.
• Nisshinbo Brake Inc.
• Nisshinbo Holdings Inc.
• Robert Bosch GmbH
• TMD Friction Holdings GmbH
• ZF Friedrichshafen AG

Economic Outlook:

The global economic outlook is showing signs of improvement, with growth recovery expected in the near term. While challenges such as slower-than-expected decline in global headline inflation, food and fuel inflation in developing countries, and high retail inflation persist, countries and governments are taking measures to address these issues.

The rise of new technologies, including generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies, is expected to open up new opportunities in the global investment landscape. These technologies have the potential to drive incremental growth and value to global GDP.

The short-term economic landscape is expected to be a mix of challenges and opportunities, requiring resilience and adaptability from businesses and their leaders.

For more detailed insights into the Automotive Aftermarket Brake Friction Parts market and global economic trends, please refer to the full report.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
• Here's How Inflationary Pressures Affect the Economy
• Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
• Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
• Here's What's Causing Inflationary Pressures in the Global Market
• Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
• Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
• Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
• Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
• Competitive Scenario
• Automotive Aftermarket Brake Friction Parts - Global Key Competitors Percentage Market Share in 2023 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
• A Prelude to Automotive Aftermarket Industry
• Snapshot of Automobile Parts & Components Intended for OEM & Aftermarket Applications
• Aftermarket Brake Shoes & Brake Pads Market: A Review
• Aftermarket: Key Revenue Contributor to Brake Friction Parts Market
• Global Automotive Aftermarket Brake Friction Parts Market Tightens Grip on Road to a Pothole-Free Journey
• COVID-19 Pandemic: A Speed-Breaker for Automotive Aftermarket Brake Friction Parts Market
• Speak-Freak Segments of Automotive Aftermarket Brake Friction Parts Market
• Trends Indicating Green Light Ahead for Automotive Aftermarket Brake Friction Parts Market
• Ferrari-Like Drivers Offering New Oil to Automotive Aftermarket Brake Friction Parts Market
• Red Flags for Global Automotive Aftermarket Brake Friction Parts Market
• North America Rules while Asia-Pacific Vrooms Ahead on Automotive Aftermarket Brake Friction Parts Market
• Asia-Pacific Embarks on High-Speed Trajectory
• Friction and Friction Products for Automotive
• Brake System
• Brake Friction Products
• Major Brake Friction Material Advantages and Disadvantages - Ceramic, Semi-Metallic, Metallic and Non-asbestos Organic (NAO) Material
• Friction Materials
• Classification Based on the State of Friction Contact Surfaces of Application
• Select Standards
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Automobile Production Dynamics Influences Demand Patterns of Automotive Brakes Market
• World Automobile Production in Million Units: 2008-2022
• Car Brakes used in Modern Automobiles
• Nearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVs
• An IneviTable Rebound in Market Prospects to Encourage Growth in Sales of Brakes: Global Commercial Vehicle Sales (In 000 Units) for Years 2018, 2020, 2022, 2024 & 2026
• Pandemic Impact on the Automotive Industry & What's the New Normal?
• Car Production YoY % Growth in 2020 Across Major Regional Markets
• Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
• Strong Outlook for Automotive Aftermarket to Benefit Demand for Automotive Brakes
• Robust Aftermarket Expands the Addressable Market Opportunity for Automotive Brakes: Global Opportunity for Automotive Aftermarket (In US$ Billion) for Years 2023, 2025 and 2027
• Product Replacement Cycles: Key Factor Influencing Demand for Aftermarket Parts
• Expanding Vehicle PARC & Longer Service Life of Vehicles Drive Opportunities in the Aftermarket
• Aging Vehicle Fleet Drives Opportunities for Automotive Brakes in the Aftermarket
• With Several Governments Imposing 15 Years as the Retirement Age for Vehicles, the Growing Age of Vehicles is Poised to Benefit Demand for Replacements Parts: Average Age of Cars & Light Trucks in the United States (In Years) for the Years 1980, 1990, 2000, 2015, 2020 and 2022
• Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
• Average Age of Cars in the EU (2022E): Breakdown by Select Country
• Electric Vehicles Rising Demand Influence the Brake Market
• Electronic Braking Breakthroughs Push EV Safety & Autonomous Driving Forward
• Rising Popularity of Electric and Hybrid Vehicles Fuel Demand for Regenerative Braking
• Need for Reducing Automobile Weight, Improve Fuel Efficiency, and Comply with Evolving Tailpipe Emission Regulations Drive Light Weight Material in Brakes
• Post Pandemic, Massive Engineering Interest in Lightweighting Will Create Massive Interest in Innovative Lightweight Brakes: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
• Bringing Down Environmental Impacts and Improving Sustainability
• How Advances in Carbon Brakes Transformed Formula 1 Landscape
• Remanufactured Brake Friction Parts Grow in Prominence
• Environmental Impact of Automotive Component Production: Comparison of Green House Gas Emitted (in kgCO2-eq) by Type of Manufacturing Activity - Remanufacturing with Secondary Material, New Production with Secondary Material, Remanufacturing with Primary Material and New Production with Primary Material
• Environmental Impact of Automotive Component Production: A Comparison of Waste Generated (in Kg) by Type of Manufacturing Activity - Remanufacturing and New Product Manufacturing
• Value of New and Remanufactured Automotive Components: Percentage Breakdown of the Real and Resorted Value of Material, Labor, Energy and Plant & Equipment for New Product and Remanufactured Product
• Material Consumption Pattern in the Production of Automotive Components: Breakdown of the Volume of Material Consumed (in Kgs) by Type of Manufacturing Activity - Remanufacturing and New Product Manufacturing
• Energy Consumption in Production of Automotive Components: Breakdown of the Volume of Energy Consumed (in Megajoule (MJ)) by Type of Manufacturing Activity - Remanufacturing (with Primary and Secondary Material) and New Production (with Primary and Secondary Material)
• Key Trends within the Brake Types and Materials Market
• Disc Brakes Rise Above Drum Brakes: Augurs Well for Brake Pads Market
• Importance of Brake Pad in Efficient ADAS Operation, Accident Prevention
• Technology Developments to Drive Growth
• Advancements in the Brake Technology
• Automotive Parts Manufacturing Gain as Automakers Strengthen R&D Spending
• Automotive R&D Spending in US$ Billion for 2020, 2025, and 2030
• Automotive R&D Spending Breakdown by Segment: 2025
• From Old School Options to Power Brakes: Car Brakes at Zenith of Automotive Safety
• Car Brakes: The Evolutionary Timeline
• Braking Trends in the Automotive Market
• Future of Brakes - Brake Systems of the Future
• Demographic Trends Create Fertile Environment for Long-Term Growth of Automobile Market: Expanding Global Population
• World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
• Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
• Urban Sprawl
• World Urban Population in Millions: 1950-2050
• Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
• Growing Affluence of Middle Class Population
• Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
• Large Base of Millennials
• Rising Living Standards
• Ever Rising Incidences Pertaining to Road Accidents Propels Demand for High-End Automotive Braking Components
• An Insight into the Rapidly Growing Online Automotive Aftermarket Industry
• Key Issues & Challenges Hampering Industry Prospects

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/124513

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