Increase in Vehicle Production in the Forecast Period is Expected to Fuel the Global Brake Friction Market

The Brake Friction Market is estimated reach USD 14.73 billion by 2028 from USD 9.81 billion in 2020, at a CAGR of 5.21% during the forecast period. The stringent brake emission norms, stopping distance and vehicle safety will drive brake friction products market. Brake friction deals with developing the products that helps in either stopping or reducing the speed of the vehicle. Automotive brake friction products comprise various products like brake pad, brake drum, brake shoe, disc, and liner. Brake pads consist of asbestos or semi-steel plated back facing the brake disc. Brake pads convert the kinetic energy into mechanical energy, which assists the vehicle in stopping. Furthermore, disk brake system consists of two asbestoses within the calliper, which is mounted on the disc. additionally, drum brakes products, like brake shoes, push outward and stop the motion of the cylinder.

Companies are involved in innovating new technologies for the ever-demanding automotive OEMs. Leading OEMs and component manufacturers are investing heavily in R&D to develop new products in brake fiction. Developed countries like Germany, the US, the UK, and Japan have over 90-95% installation rate of all four-disc brakes in passenger cars. the expansion of disc brakes in these countries is attributed to the high-income level of consumers and stopping distance mandates. However, countries like India, Brazil, and Russia have a 70% average rate of installation of mixed braking systems. Due to infrastructure requirements, consumers in these countries prefer economic cars, which have front disc and rear drum brakes.

The brake friction products market is driven by increasing vehicle production worldwide. Every vehicle is provided with brake systems that include different brake friction products. as an example, disk brake systems comprise rotors and pads, whereas a drum brakes comprises the shoe and drum. Increasing demand for comfort and convenience has resulted in a rise in production of vehicles across the world. there's increase in vehicle production in many regions due to factors like improved economic conditions and increasing population.

 The increased lifetime of vehicle components poses a serious challenge for brake friction products manufacturers. OEMs prefer durable brake friction products that are less likely to fade early due to controlled friction with less wear and fewer potential noise and minimized roughness. Additionally, durability across a good service temperature range, resistance to water washout, road contaminants and oxidation, and clean assembly of brake-calliper components are factors considered by OEMs and makers to extend the sturdiness of brake friction products. Rising government involvement and introduction of stringent safety norms have put pressure on manufacturers to supply durable products that aren't subject to early depreciation.The Brake Friction Market is segmented on the basis of product: brake disc pad, drum, shoe, liner and others. On the basis of disc material, it is segmented into metallic disc, and ceramic disc. On the basis of vehicle type it is segmented into passenger car, lightweight commercial vehicle, truck and bus. On the basis of type, it is segmented into woven and moulded.

Asia Pacific region is predicted to be the most important market. The expansion is attributed to the improving socio-economic conditions in emerging economies like China, India, Indonesia, and Thailand. The increased vehicle production and upcoming stringent safety norms in China and India are further expected to boost the growth of the Brake Friction Market. The key players of Brake Friction Market are Robert Bosch (Germany), AISIN CORPORATION (Japan), Nisshinbho Holdings Inc. (Japan), Brembo S.p. A (Italy), and Tenneco Inc. (US). These companies have made their position within the competitive global market through supply contracts, expansion strategies, and agreements.