Press release
Brake Friction Products Market Booming Worldwide With Leading Key Players- Continental, Delphi Automotive, SGL Carbon AG, Robert Bosch, AISIN CORPORATION, Nisshinbho Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul, and TRW
The spiraling demand and installation rate of brake discs in passenger cars across the globe; the rising number of road accidents worldwide: the proliferating safety concerns and standards across regions; and the high number of stringent brake emission norms for stopping distance vehicle safety, especially in Europe and North America are among the major factors driving the growth of the global brake friction products market.
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According to vehicle type, the passenger cars segment held the largest share of the global brake friction products market in 2021. The segment is estimated to retain its lead further and register the highest growth in the market during the forecast period of 2022-2030.
According to product type, the brake discs segment led the global brake friction products market in 2021. The trend is predicted to continue during the forecast period of 2022-2030 mainly due to the rapidly increasing popularity and penetration of disc brake systems in different vehicle segments across the globe due to its high performance.
Geographically, the Asia Pacific region commanded the global brake friction products market in 2021, followed by North America, and Europe. The region is estimated to retain its dominance further in the market during the forecast period of 2022-2030. Countries such as India, China, Japan, Indonesia, and Thailand are among the key contributors to the growth of the market in the region. In the North American region, the U.S. and Canada are the leading contributors to the growth of the market in the region.
Some of the major brake friction products companies profiled in the report include Continental, Delphi Automotive, SGL Carbon AG, Robert Bosch, AISIN CORPORATION, Nisshinbho Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul, and TRW.
The global brake friction products market is segmented into product type, vehicle type, market type, and region. Based on product type, the market is bifurcated into brake discs, brake pads, drum brakes, brake shoes, and brake liners. Based on vehicle type, it is classified into passenger cars, LCVs, and HCVs. Based on market type, it is classified into original equipment supplier (OES) and independent aftermarket.
The global brake friction products market is analyzed across North America (U.S. & Canada), Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Australia, New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of Latin America) and Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, and Rest of Middle East & Africa).
Key Insights of Brake Friction Products Market
• On the basis of vehicle type, the passenger cars segment held the largest share of the global brake friction products market in 2021. The segment is estimated to retain its lead further and register the highest growth in the market during the forecast period of 2022-2030.
• On the basis of product type, the brake discs segment led the global brake friction products market in 2021. The trend is predicted to continue during the forecast period of 2022-2030.
• On the basis of region, the Asia Pacific commanded the global brake friction products market in 2021, followed by North America, and Europe. The region is estimated to retain its dominance further in the market during the forecast period of 2022-2030.
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