Press release
Top Factor Driving Brake Friction Products Market Growth in 2025: Autonomous Vehicles Driving Growth In Brake Friction Products Market
Brake Friction Products Market Size
The brake friction products industry has seen significant growth in recent years. With a compound annual growth rate (CAGR) of 5.9%, this market is projected to increase from $11.09 billion in 2024 to $11.75 billion in 2025. The historical growth in this market can be linked to several factors like the enforcement of safety and environmental rules, the shift to high-performance braking systems, heightened vehicle production, and the surge in the use of electric vehicles (EVs).
In the coming years, the brake friction products market is predicted to see robust expansion, rising to $14.61 billion by 2029 with a compound annual growth rate (CAGR) of 5.6%. The growth predicted during the forecast period can be tied back to the growing demand for efficient, dependable braking systems, an uptick in vehicle ownership, ongoing efforts to minimize brake dust emissions, and a rise in infrastructure development and construction activities. Prominent trends during the forecast period encompass the incorporation of sensors and smart technologies, the production of quieter braking systems, a move towards customization and personalization, ongoing exploration into new materials, and collaborations and partnerships.
What Is Contributing to the Growth of the Brake Friction Products Market?
The escalating count of self-driving cars is predicted to drive the expansion of the brake friction products market in the future. Autonomous vehicles, also known as self-driving cars, utilize advanced sensor technologies, computer systems, and artificial intelligence to function and navigate without constant human supervision or monitoring. Advancements in artificial intelligence and sensor technology, along with significant investment and support from private companies and governments to boost safety and efficiency in transportation, are the prime reasons for this surge in autonomous vehicles. Brake friction products play a critical role in the secure, reliable, and efficient functioning of autonomous vehicles, ensuring accurate and controlled braking, smoothly integrating with advanced driving systems, thereby enhancing their overall performance and longevity. For example, as per the National Association of Insurance Commissioners, a non-profit organization based in the US, in December 2022, it is estimated that by 2025, 3.5 million autonomous vehicles will be on the roads of America, and by 2030, the number will increase to 4.5 million. Hence, the escalating count of self-driving cars is promoting the growth of the brake friction products market.
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Who Are the Dominant Companies Influencing Brake Friction Products Market Trends?
Major companies operating in the brake friction products market are Meritor Inc., Miba HydraMechanica Corporation, H-E Parts International LLC, American Friction Inc., TMD Friction Holdings GmbH, Hilliard Corporation, Superior Graphite Co., Brake & Equipment Warehouse Inc., Raybestos Products Company, Cardolite Corporation, ProTec Friction Group, Midwest Brake, Logan Clutch Corporation, Phoenix Friction Products, Accurate Specialties, ALL FRICTIONS CO. LLC, Cook Bonding & Manufacturing Co. Inc., Cleveland Oak, Pyrogenics Group/MINTEQ, Clutch Engineering, Great Lakes Friction Products, Friction, The Rowland Company, Orttech
How Is the Brake Friction Products Market Evolving?
Leading enterprises in the brake friction products market are creating revolutionary products with the help of state-of-the-art absorbent glass mat (AGM) technology, thereby improving safety and dependability for both standard and autonomous vehicles. The absorbent glass mat (AGM) technology is an advanced design of lead-acid battery that uses a glass fiber mat to collect and retain the battery's acid, enhancing the effectiveness and reliability of electronic parts within braking systems. For example, in July 2023, Bosch, an engineering firm based in Germany, introduced Blue Line brake pads regarded as the auto parts of the next generation. These brake pads serve as an exemplary substitute for original equipment (OE) brake pads, boasting high friction stability, noise and vibration reduction, and absence of asbestos. These brake pads are designed for optimal braking performance, superior thermal balance, and noiseless braking, making them an ideal option for daily drivers.
What Are the Different Segmentations in the Brake Friction Products Market?
The brake friction products market covered in this report is segmented -
1) By Product Type: Brake Disc, Pad, Drum, Shoe Liner
2) By Disc Material: Metallic Disc, Ceramic Disc
3) By Vehicle Type: Passenger Car, Lightweight Commercial Vehicle, Truck, Bus
Subsegments:
1) By Brake Disc: Cast Iron Brake Discs, Carbon-Carbon Brake Discs, Carbon Ceramic Brake Discs, Composite Brake Discs
2) By Brake Pad: Organic Brake Pads, Semi-Metallic Brake Pads, Ceramic Brake Pads, Low-Metallic Nao (Non-Asbestos Organic) Pads
3) By Brake Drum: Cast Iron Brake Drums, Steel Brake Drums, Composite Brake Drums
4) By Shoe Liner: Asbestos-Free Shoe Liners, Non-Asbestos Shoe Liners, Ceramic Shoe Liners, Organic Shoe Liners
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Which Region Is at the Forefront of the Brake Friction Products Market?
Asia-Pacific was the largest region in the brake friction products market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the brake friction products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Brake Friction Products Global Market Report?
- Market Size Analysis: Analyze the Brake Friction Products Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Brake Friction Products Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Brake Friction Products Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Brake Friction Products Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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