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Brake Friction Products Market on Path to Hit $14 Billion by 2029 at 4.8% CAGR
Brake Friction Products
Brake Friction Products Market Outlook: What Size And CAGR Are Anticipated By 2025?
The market size for brake friction products has been consistently expanding in the past couple of years. Its growth is anticipated to stretch from $11.09 billion in 2024 to $11.59 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.5%. This growth in the historic period is due to the enforcement of safety and environmental rules, a shift towards high-performance braking systems, a boost in vehicle manufacturing, and an increase in the uptake of electric vehicles (EVs).
What Is the Expected CAGR for the Brake Friction Products Market Growth Through 2029?
A consistent rise in the market size of brake friction products is anticipated in the coming years, reaching $14 billion in 2029 with a 4.8% compound annual growth rate (CAGR). The predicted upswing during the forecast period can be linked to the growing demand for highly efficient and trustworthy braking systems, a surge in car ownership, persistent need to lessen brake dust emissions, and augmentation in infrastructural development and construction activities. Significant trends for the forecast period encompass incorporation of sensors and cutting-edge technologies, creation of less-noisy braking systems, customization and personalization, ongoing exploration into novel materials, along with collaborations and partnerships.
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What Are the Primary Drivers Behind Brake Friction Products Market Growth?
The rise in autonomous vehicles is anticipated to spur the expansion of the brake friction products market going forward. Self-driving cars are recognized as autonomous vehicles that use state-of-the-art sensor technologies, computer systems, and AI to independently maneuver and operate without constant human supervision. The rise in these autonomous vehicles can be attributed to the advancements in AI and sensor technology. Furthermore, substantial investments and backing from private firms and government bodies are aimed to improve safety and efficiency in transportation. Brake friction products form a crucial element for safe, reliable, and effective functioning of self-driving cars. These products ensure a controlled and accurate braking mechanism and flawlessly integrate with advanced driving systems, thereby contributing to the overall performance and durability of these autonomous vehicles. For example, predictions made by the National Association of Insurance Commissioners, a non-profit US-based organization, in December 2022, state that there will be 3.5 million self-driving cars on American roads by 2025, reaching 4.5 million by 2030. Thus, the escalating number of autonomous vehicles aids in augmenting the growth of the brake friction products market.
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What Are the Key Segments Driving Brake Friction Products Market Growth?
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
What Are the Technological Trends Impacting the Brake Friction Products Market?
Significant firms in the brake friction products industry are creating inventive products using high-tech Absorbent Glass Mat (AGM) technology. This ensures superior safety and trustworthiness for both traditional and self-driving vehicles. Absorbent Glass Mat (AGM) technology improves the efficiency and dependability of electronic parts within braking mechanisms by using a design of lead-acid battery that employs a glass fiber mat to soak up and store the battery's acid. For example, in July 2023, Bosch, an engineering firm based in Germany, introduced Blue Line brake pads which are considered as the next-generation automotive parts. These brake pads, which are an outstanding substitute for original equipment (OE) brake pads, deliver excellent friction stability, efficient noise and vibration dampening, and are devoid of asbestos. They are tailored to provide top-notch braking performance, superior thermal stability, and discreet braking, making them a trustworthy option for normal drivers.
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Who Are the Major Competitors in the Global 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 Region Dominates the Brake Friction Products Market Share in 2025?
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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