The automotive brake friction products market size is projected to reach US$ 17,261.8 million by 2031 from US$ 11,809.2 million in 2023. The market is expected to register a CAGR of 4.9% during 2023–2031. The increasing adoption of ABS technology in the vehicles drives the market growth. The modern technologies such as electronic stability control (ESC), adaptive cruise control adoption is driving the market trend. It also leads the way in the development of autonomous driving functions. Further, ABS and EBD are required in all new cars sold in India.
Manufacturers of brake friction products face a significant challenge as vehicle components live longer. OEMs prefer long-lasting brake friction products that fade less quickly due to controlled friction, reduced wear, reduced noise, and reduced roughness. Additionally, OEMs and manufacturers consider durability across a resistance to water washout, wide service temperature range, clean assembly of brake-Caliper components, road contaminants, and oxidation, and when developing brake friction products. Regenerative braking has been used in battery-operated electric vehicles in recent years. The electric vehicle manufacturers are adopting advanced frictional products to smoothly run the vehicles. Metal rotor discs are used in the manufacturing of electric vehicles. With the increased sales of electric vehicles, the demand for the automotive brake friction products market is growing at a rapid pace during the forecast period as these brake frictional products are lighter and highly efficient. Therefore, with the increasing demand for eco-friendly transportation with high demand for electric vehicles, there is expected to be ample opportunity for the automotive brake friction products market growth.
The growth of automotive brake friction products is primarily attributed to increasing automotive production and sales in major countries in Asia Pacific, such as India, China, Indonesia, Japan, and Thailand. The increased electric vehicle production and stringent government safety rules and regulations across Japan, China, and India are boosting the global automotive brake friction products market growth. China is projected to dominate the global market owing to increased automotive production and rapid sales of electric vehicles in this country. China is the largest automotive and automotive components manufacturer. Thus, the automotive brake friction products market is growing at a rapid pace. Several OEMs in China are focused on the development of lightweight materials such as composites, carbon fiber, and many others for brake friction products. Also, the increasing adoption of safety features in the latest launched vehicle models is driving the market growth. For instance, Shanghai Automotive Brake Systems Co., Ltd. made a joint venture between Huayu Automotive Systems Company Limited and Continental AG to supply brake friction products in China.
The use of brakes is increasing at a rapid pace while driving owing to a surge in traffic congestion. In traffic conditions, vehicles are subjected to more braking, which wears down the brake shoes and brake pads, which ultimately reduces braking power. The braking power is being reduced, which strengthens higher demand for the replacement of brake pads and brake shoes. This has increased the use of frictional brakes owing to traffic congestion that results in driving the global automotive brake friction products market growth during the forecast period.
Phenolic composite brake pad backing plates are 75% lighter, inert, and corrosion-free, thermally insulating, and have superior damping properties required for electric vehicle braking duty cycles. Further, in February 2022, Brakes India launched high-performance 'Elite' friction brake pads. Brakes India launched wide range of high-performance braking pads designed to enhance the braking capabilities at high speeds and in the hilly areas.
Phenolic composite braking pads are 75% lighter, and corrosion-free. These pads are thermally insulated, and have superior damping properties required for electric vehicle braking duty cycles. Further, in February 2022, Brakes India launched high-performance 'Elite' friction brake pads. Brakes India launched wide range of high-performance braking pads designed to enhance the braking capabilities at high speeds and in the hilly areas. Electric vehicles are lighter than their internal combustion engine vehicles. Several vehicle models such as Mercedes-Benz EQV Luxury passenger van uses automotive friction pads for smooth and comfortable driving.
Key segments that contributed to the derivation of the Automotive Brake Friction Products market analysis are Disc Materials, Product Type, Vehicle Type, and geography.
The geographic scope of the Automotive Brake Friction Products market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is expected to have the largest share in 2023. This is primarily owing to increasing production and sale of the automotive across China, India, and Japan. The market growth in the Asia Pacific region is primarily attributed to increasing vehicle sales across India, China, and Japan. The increasing vehicle production with stringent government rules and regulations related to the safety norms in Japan, China and India boost the automotive brake friction products market growth during the forecast period. China dominates the Asia Pacific automotive brake friction products market owing to the presence of several automotive component manufacturers. Also, India is estimated to grow with the highest CAGR during the forecast period.
The regional trends and factors influencing the Automotive Brake Friction Products Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Brake Friction Products Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11,809.2 Million |
| Market Size by 2031 | US$ 17,261.8 Million |
| Global CAGR (2023 - 2031) | 4.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Disc Materials
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Brake Friction Products Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Brake Friction Products Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive brake friction products market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Automotive Brake Friction Products Market are listed below:
The “Automotive Brake Friction Products Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific is expected to dominate the automotive brake friction products market in 2023.
Traffic Congestion and Evolving Vehicle Architecture to Increase the Demand for Replacement Units
The modern technologies such as ESC, adaptive cruise control adoption is driving the market trend.
Japan Brake International Co. LTD., Nisshinbo Holdings Inc., ABS Friction, AKEBONO BRAKE INDUSTRY CO., LTD, Bendix Spicer Foundation Brake LLC, BOSCH Auto Parts, Carlisle Brake Friction, Delphi Auto Parts, AISIN SEIKI Co.Ltd., MIBA AG are among the major companies operating in the Automotive Brake Friction Products market.
The automotive brake friction products market size is projected to reach US$ 17,261.8 million by 2031 from US$ 11,809.2 million in 2023.
The market is expected to register a CAGR of 4.9% during 2023–2031.