Future Market Insights
Automotive brake friction products consist of all the components that assist in either stopping or reducing the speed of the vehicle. Automotive brake friction products comprise various products, such as a brake pad, brake drum, brake shoe, disc and liner. Usually, a brake pad consists of an asbestos or a semi steel plated back facing the brake disc. They convert the kinetic energy of the vehicle into mechanical energy and assist the vehicle in stopping. Moreover, in disc brake systems, two brake pads are contained in a caliper that is mounted on the disc. In case of drum brakes, brake friction products, such as a brake shoe, push outward and stop the rotating motion of the brake drum.
Brake friction products are available in the market with different specifications depending upon the type of vehicle. During the braking process, brake friction products are subjected to wear. Attributing to this, many OEMs focus on manufacturing brake friction products that are capable of sustaining the generated heat. In order to improve the friction resistance properties, brake friction products are made of composite materials. Furthermore, various types of filler materials are also added while manufacturing brake friction products in order to improve their mechanical strength.
Automotive Brake Friction Products Market: Dynamics
The automotive brake friction products market is primarily driven by the increasing demand for environment friendly brake friction products that have appreciable heat resistant properties and increased mechanical strength. Moreover, with the introduction of electric vehicles that have regenerative braking systems, the demand for lightweight automotive brake friction products is anticipated to increase. This will support the anticipated growth of the brake friction products market over the assessment period. Furthermore, powder, metallurgic and organic type of brake frictional materials are trending in the automotive brake friction products market. Increase in the demand for carbon based brake frictional products is anticipated owing to favorable characteristics, such as better wear resistance and ecofriendly properties.
The brake friction products market is anticipated to ramp up, owing to the anticipated increase in vehicle production over the assessment period. This will increase the demand for technologically advanced braking systems, which will further lead to the introduction of advanced automotive brake friction products in the near future. Furthermore, stringent government regulations and implementation of federal laws for increasing vehicle safety have compelled manufacturers to focus on increasing vehicle safety. This will further increase the demand for automotive brake friction products and promote growth of the automotive brake friction products market over the forecast period.
Counterfeit automotive brake friction products compel OEMs to lower their cost and pose a threat to their revenue stream. This could have a negative impact on anticipated growth of the automotive brake friction products market over the assessment period. Moreover, low operation life and high replacement cost act as restraints in the growth of the automotive brake friction products market.
Automotive Brake Friction Products Market: Segmentation
On the basis of product type, global automotive brake friction products market can be segmented into:
On the basis of sales channel, the global automotive brake friction products market can be segmented into:
On the basis of vehicle type, the global automotive brake friction products market can be segmented into:
Automotive Brake Friction Products Market: Regional Outlook
Attributing to the anticipated increase in commercial vehicle production in North America, the demand for brake friction products is projected to increase over the assessment period. Moreover, stringent government regulations in the European region, pertaining to increasing vehicle safety, will further surge the demand for automotive brake friction products and promote growth of the automotive brake friction products market over the forecast period. Urbanization and increasing population in the developing countries of Asia-Pacific will increase the production volumes in the coming future. This will create opportunities for further augmentation of the automotive brake friction products market over the assessment period.
Automotive Brake Friction Products Market: Market Participants
Examples of some of the market participants in the automotive brake friction products market are:
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