The Brake Friction Products Market is Segmented by Type (Discs, Pads, Blocks, Linings, and Other Types), Material (Ceramic, Asbestos, Semi-metallic, Sintered Metals, Aramid Fibers, and Other Materials), Application (Clutch and Brake Systems, Gear Tooth Systems, and Other Applications), End-user Industry (Automotive, Railway, Aerospace, Mining, and Other End-user Industries), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Brake Friction Products Market is segmented into type, material, application, end user and region.
The Global Brake Friction Products Market Size is forecast to grow at a CAGR of 5.3% during the forecast period 2021-2028.
Friction materials are used to provide or enhance friction to decelerate or stop the system. Friction materials majorly find applications in braking systems, where they are used in brake pads and brake linings.
Stringent brake emission norms, stopping distance and vehicle safety are some of the factors that have supported long-term expansion for Brake Friction Products Market.
Due to the COVID-19 crisis, there was a sudden drop in vehicle miles travelled (VMT) and customer foot traffic because of physical distancing and lockdowns. This will result in a slow economic recovery, which means that aftermarket demand may take years to recover to 2019 levels. With so many restraints, aftermarket players should take steps now to improve their business strategy and emerge stronger from the crisis.
Asia Oceania region is expected to be the largest market. The growth can be attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. The increased vehicle production and upcoming stringent safety norms in China and India will boost the brake friction products market.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 5.3% during the forecasting period, 2021-2028 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2028 |
Report Segmentation |
type, material, application, end user and region. |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Nisshinbo Holdings Inc., Akebono Brake Industry Co. Ltd, ITT Inc., Miba AG, ANAND Group, Robert Bosch, AISIN CORPORATION, Brembo S.p.A, and Tenneco Inc. |
Available Customization |
In addition to the market data for Brake Friction Products Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |