The global automotive brake friction products market size is expected to create lucrative growth opportunities with an opulent CAGR of 4.8% during the forecast period from 2022 to 2032. The market was valued at around US$ 10.4 Bn in 2021 and is likely to reach a valuation of US$ 17.2 Bn by 2032.
Brake friction products are a critical component in any vehicle's braking system. These products, often referred to as brake pads, provide the friction necessary to stop a vehicle by pressing against the brake rotor.
There are two main types of brake friction products: organic and ceramic. Organic brake pads are made of materials such as asbestos, glass, rubber, and resin, and are known for their affordability and relatively low noise levels. Ceramic brake pads, on the other hand, are made of a mixture of ceramic fibers, copper fibers, and other materials, and are known for their durability and ability to provide consistent braking performance in a variety of conditions.
When it comes to maintaining your brake friction products, it's important to inspect them regularly and replace them as needed. Brake pads typically last between 25,000 and 70,000 miles, but this can vary depending on the type of driving you do and the type of brake pads you have.
Key Takeaways
The replacement rate of brake friction products within vehicles is projected to be hampered by increasing the life of automotive brake friction products and sophisticated brake technology. Manufacturers of brake friction products now utilise more durable materials due to government restrictions that are stringent and the requirement to function in all types of environments.
It is projected that rapid advancements in brake friction products will lower the need for brake friction products by lowering the number of replacements in cars. Additionally, OEMs place a high priority on brake friction solutions with regulated friction, low wear, and noise-dampening properties.
The increased demand for automobile parts on a global scale has attracted counterfeiters. Brake pads, brake linings, and other associated vehicle components are now more prevalent counterfeits that can't be distinguished from the real thing. OEM-produced brake friction products are pricey yet of high quality.
In India, counterfeit items are to blame for about 20% of traffic accidents. FICCI reported that fake vehicle components caused the Indian government to lose US$ 282,912 as a result. Several agencies have taken efforts to stop the illegal trade of car parts.
The car industry, the trade platform, and the U.K. government collaborated to establish a consumer education campaign to combat fake brake friction goods. Online retailers like Amazon and eBay have also expressed their opinions on purchasing aftermarket cars. The listing of brake pads and related components on Alibaba's marketplace was prohibited.
During the historic period from 2017 to 2021, the metallic disc material is projected to increase at a pace of about 3.2%, and is expected to see a 4.5% CAGR during the forecast period. Due to its ability to resist heat, metallic materials are used more frequently in brake friction products. They are the perfect material for stopping against large machinery since they do not compress like ceramic material does.
Brake shoes are expected to experience the fastest growth in the aftermarket with regard to product type. From 2017 to 2021, brake shoes accounted for a 3.2% CAGR. Because they are located in the back of the automobile, brake shoes have a longer lifespan than brake pads because they have more room to produce the friction needed to stop the car. They also don't need as much power to stop the car as brake pads do. Brake shoes are expected to expand at a 4.5% annual rate between 2022 and 2032.
For more information:
https://www.futuremarketinsights.com/reports/automotive-brake-friction-products-market
Competitive Landscape
Key players in the global automotive brake friction products market are massively aiming at expanding their manufacturing facilities, investing in research and development along with innovating new products.
The key companies operating in the automotive brake friction products market include:
ABS Friction, Bendix Spicer, Robert Bosch, Nisshinbho Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul, Delhphi, Akebono Brake Industries, Miba AG, Aisin Seiki Co., Ltd., Macas Automotive, Masu brakes Pvt Ltd, Sundaram Brake Linings Ltd, Standard Friction Components Ltd, Japan Brake Industrial Co., Ltd, and Toughla Brake Linings.