Brake Friction Market Insights | Key Players: Robert Bosch (Germany), Aisin Seiki (Japan), Nisshinbo Holding (Japan), Federal Mogul (US), Brembo (Italy).

The brake friction market is projected to grow during the forecast period due to the increase in vehicle production. The brake friction (OE) market is projected to grow at a CAGR of 2.33% from 2018 to 2025, from $12.79 Billion in 2017 to $15.84 Billion by 2025. The brake friction aftermarket is projected to grow at a CAGR of 1.03% from 2018 to 2025, from an estimated $29.06 Billion in 2017 to $31.99 Billion by 2025.

The brake friction market has been segmented on the basis of an 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.

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The ecosystem of the brake friction market consists of manufacturers and Tier 1 suppliers such as Robert Bosch (Germany), Aisin Seiki (Japan), Nisshinbo Holding (Japan), Federal-Mogul (US), Brembo (Italy), Delphi (Now Aptiv) (UK), Tenneco (US), Akebono Brake Industries (Japan), Miba AG (Germany), and SGL Group (Germany).

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 the 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 the 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.

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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.

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