Brakes for Friction Products Market Size & Growth Analysis Report, 2022-2028

The global brakes for friction products market is anticipated to grow at a CAGR of 4.5% during the forecast period (2022-2028).

Brakes for friction products are generally used to induce friction in situations where slow or decreased movement is necessary. These products consist all components that support the vehicle to stop or reduce speed of various products such as brake pads, brake drums, brake shoes, discs, and liners. Brake pads usually consist of asbestos or semi-steel plated with the back facing the brake disc. They convert the vehicle's kinetic energy into mechanical energy and support the vehicle to stop. Additionally, in disc brake systems, disc-mounted calipers contain two brake pads. For drum brakes, it pushes a brake friction product, such as a brake shoe, outward and stops the rotational motion of the brake drum.

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The market growth is majorly attributable to the increase in vehicle parc all over the globe. For instance, as per the OICA, total vehicle sales including the passenger cars and light commercial vehicles, had increased to 92,654,055 units in 2018 from 91,458,490 units in 2016. Such augmented vehicle sales have surged the vehicle parc in the last few years significantly. The increase in vehicle parc has fueled the demand for brake friction products globally. Additionally, key drivers such as improved economic conditions coupled with the population growth have also led to an increase in vehicle production in many regions. This is also likely to support the market growth.

Some key players operating in the market include Robert Bosch GmbH, Aisin Seiki Co., Ltd., and Tenneco, Inc., among others. The market players are eyeing on strengthening their position in the market by adopting various strategies as mergers and acquisitions, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2022, Brakes India launched a range of high-performance brake pads specially designed to offer enhanced braking at high speeds and in hilly terrain. The new 'Elite' brake pads launched under the TVS Apache brand have been designed to provide superior racing performance. The TVS Apache 'Elite' brake pads are also stripe coated with the proprietary ABRACOAT technology, a unique abrasive film which provides improved initial friction performance, introduced for the first time in India. These brake pads are distinctly painted in a superior red color and are easily distinguishable by the stripes on the pad surface.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Vehicle Type

• Regions covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape: Robert Bosch GmbH, Aisin Seiki Co., Ltd., and Tenneco, Inc., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Brakes for Friction Products Market Report by Segment

By Type
• Brake Disc
• Brake Rotor

By Vehicle Type
• Passenger Car
• Lightweight Commercial Vehicle
• Truck and Bus

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This release was published on openPR.