Press release
2025-2034 Brake Friction Products Market Roadmap: Insights for Competitive Advantage
Brake Friction Products
How Large Will the Brake Friction Products Market Size By 2025?
In the past few years, there has been a substantial expansion in the brake friction products market size. It's anticipated to elevate from $11.09 billion in 2024 to $11.75 billion in 2025, marking a compound annual growth rate (CAGR) of 5.9%. The growth witnessed in the previous period is mainly due to the enforcement of safety and environmental norms, transition towards performance-based braking systems, surge in vehicle manufacturing, and an increase in the uptake of electric vehicles (EVs).
How Big Is the Brake Friction Products Market Size Expected to Grow by 2029?
The market for brake friction products is anticipated to witness robust growth in the coming years, escalating to a value of $14.61 billion by 2029, with a compound annual growth rate (CAGR) of 5.6%. The expansion during this forecast period can be accounted for by several factors such as increased demand for effective and dependable braking systems, surging vehicle ownership, sustained efforts to minimize emissions from brake dust and escalated constructions and infrastructural development activities. The forecast period will be characterized by key trends such as incorporation of sensors and smart technologies, creation of less noisy braking systems, customization and personalization, continued exploration of new materials, and significant collaborations and partnership ventures.
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Which Key Market Drivers Powering Brake Friction Products Market Expansion and Growth?
The rise in the number of autonomous vehicles is projected to stimulate 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 continuous human supervision or control. The escalating count of autonomous vehicles is due to progress in sensor technology and artificial intelligence, coupled with significant investment and backing from private corporations and governments to improve safety and efficacy in transportation. Brake friction products are essential for the safe, trustworthy, and efficient functioning of autonomous vehicles, providing accurate and controlled braking, assimilating flawlessly with advanced driving systems, and augmenting the overall performance and lifespan of autonomous vehicles. For example, as per the National Association of Insurance Commissioners, a non-profit organization based in the US, in December 2022, it's anticipated that there will be 3.5 million autonomous vehicles on American roads by 2025 and 4.5 million by 2030. Hence, the rising number of autonomous vehicles is promoting the growth of the brake friction products market.
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Which Fast-Growing Trends Are Poised to Disrupt the Brake Friction Products Market?
Leading firms in the brake friction product sector are pioneering new products utilizing cutting-edge absorbent glass mat (AGM) technology, guaranteeing augmented safety and dependability for both traditional and self-driving vehicles. The innovative AGM technology is a variant of lead-acid battery design that leverages a glass fiber mat to soak up and retain the battery's acid, thereby enhancing the efficiency and reliability of electronic components within braking systems. For example, in July 2023, Bosch, an engineering conglomerate based in Germany, introduced the Blue Line brake pads. Identified as next-generation automotive components, these brake pads offer a superior alternative to original equipment (OE) brake pads with their high friction stability, minimization of noise and vibration, and asbestos-free composition. Engineered for excellent braking performance, brilliant thermal stability, and quiet braking, these brake pads are an ideal selection for regular drivers.
What Are the Emerging Segments 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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Who Are the Global Leaders in the Brake Friction Products Market?
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
Which are the Top Profitable Regional Markets for the Brake Friction Products Industry?
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.
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