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.
Automotive Brake Friction Products Market Analysis
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.
Automotive Brake Friction Products Market Overview
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.
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Automotive Brake Friction Products Market: Strategic Insights
Market Size Value in US$ 10,387.3 million in 2021 Market Size Value by US$ 13,203.7 million by 2028 Growth rate CAGR of 3.5% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
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Automotive Brake Friction Products Market: Strategic Insights
| Market Size Value in | US$ 10,387.3 million in 2021 |
| Market Size Value by | US$ 13,203.7 million by 2028 |
| Growth rate | CAGR of 3.5% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
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Automotive Brake Friction Products Market Drivers and Opportunities
Increasing Traffic Congestion with Surge in Demand for Replacement of the Automotive Components Drives the Market Growth
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.
Metal-Free Brake Pads Technology in Electric Vehicles
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.
Automotive Brake Friction Products Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Automotive Brake Friction Products market analysis are Disc Materials, Product Type, Vehicle Type, and geography.
- Based on disc materials, the global automotive brake friction market is divided into metallic, ceramic, and composite. Among these, composite disc materials have the largest share in 2023, this is owing to increasing development of the advanced composite materials.
- Depending upon the product type, the global market is divided into brake shoe, brake pad, brake liner, brake disc, and drum brake. Among these, brake liner has the largest share in 2023.
- Based on vehicle type, the market is segmented into passenger vehicle, and commercial vehicle. Among these, passenger vehicles have a larger share in 2023, this is owing to increasing passenger cars sale across the globe.
Automotive Brake Friction Products Market Share Analysis by 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.
Automotive Brake Friction Products Market Report Scope
Automotive Brake Friction Products Market News and Recent Developments
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:
- TMD Friction, a leading global supplier of braking solutions, is accelerating its transformation focus towards a safer and more sustainable future of mobility. Building on its heritage of more than 110 years of premium OE experience as well as its 140 years of success as an industry leader, the company is now entering a new chapter in its history. After establishing its leading expertise in supplying braking products and solutions people can trust, the company is now developing a new, modern brand direction which includes focusing on business practices and solutions to minimise its environmental impact. (Source: Company Website, February 2024)
- Tenneco’s Ferodo original equipment (OE) braking business has introduced advanced copper-free hybrid friction material composites that simultaneously serve braking performance and comfort requirements in both internal combustion engine (ICE) and electric vehicles (EVs). (Source: Press Release, July 2023)
Automotive Brake Friction Products Market Report Coverage and Deliverables
The “Automotive Brake Friction Products Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Automotive brake friction products market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Automotive brake friction products market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Automotive Brake Friction Products market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the automotive brake friction products market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Disc Materials, Product Type, and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
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.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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