Press release
Brake Friction Products Market Future Huge Growth with Technology and Current Trends 2022 to 2030
The prominent factors such as are structuring of stringent government safety norms, rising urbanization, and surging demand for automobiles are attributed to the industry growth. Additionally, escalating demand for passenger cars with disc brakes is also boosting the industry's growth. Moreover, the availability of a wide range of products and increasing disposable income among the population are also acting as major catalyzing factors for the industry demand in the impending years.
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Based on the vehicle type, the passenger car segment is dominating the global industry with the highest revenue shares. The demand for the adoption of brake discs in passenger cars is propelling due to its high performance, ease of maintenance, and more precise braking. Thereby, these factors lead the segment growth around the world. Whereas the light commercial vehicle segment is showing the highest CAGR rate that leads the industry demand. The rising need for logistics facilities for transporting goods over short distances or within limited geographical limits is fueling the segment growth. The brake friction products are adapted to lessen the speed of the LCV by boosting frictional resistance between brake shoes and drums or discs, which is fueling the industry demand over the forthcoming scenario.
In recent scenarios, the trend of the environment-friendly modes of transport is rising, which increases the demand for cleaner and greener technology in vehicles. A primary step in the direction of accomplishing this objective is to reduce the complete weight and fuel consumption of the vehicle. The framework and brake systems constitute 22-27% of the whole weight of a light-duty vehicle. Accordingly, these products are made up of heavy alloys that lead to the higher consumption of fuel. Thereby, continuous investment in R&D activities leads to the introduction of these lightweight friction products. Hence, these frictional product innovations may create lucrative opportunities for market demand in the near future.
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Top Key Players
Market participants such as Aisin Seiki, Brembo, Continental AG, Federal-Mogul, FTE automotive, Delphi, ITT Inc., Miba, Nisshinbo Holding, Meritor, Inc., Robert Bosch, Robert Bosch, SGL Group, Tenneco are some of the key players operating in the global market. Various market players are launching new products in the global market to strengthen their market position. For instance, in August 2021, Hella Pagid operates in a joint venture with TMD Friction- automotive suppliers, and HELLA presents above 14,000 brakes for commercial vehicles.
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Polaris Market Research has segmented the brake friction products market report on the basis of product type, type, disc material, vehicle type, and region:
Brake Friction Products, Product Type Outlook (Revenue - USD Million, 2018 - 2030)
• Brake Disc
• Pad
• Drum
• Shoe
• Liner
Brake Friction Products, Type Outlook (Revenue - USD Million, 2018 - 2030)
• Woven
• Molded
Brake Friction Products, Disc Material Outlook (Revenue - USD Million, 2018 - 2030)
• Metallic Disc
• Ceramic Disc
Brake Friction Products, Vehicle Type Outlook (Revenue - USD Million, 2018 - 2030)
• Passenger Car
• Lightweight Commercial Vehicle
• Truck
• Bus
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Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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