Acumen Research and Consulting estimates that global Brake Friction market is expected to reach the market value of around US$ 16 Bn by 2027 and is anticipated to grow at a CAGR of around 3% in terms of revenue amid the forecast period 2020 – 2027.
The act of braking is the control of the speed by inhibiting the movement of an object. The force has to be avoided by eliminating the kinetic energy of an object in motion. The removal of the kinetic energy can be achieved by discharging or converting the energy into another form of energy into the atmosphere. Mechanical frequency which inhibits movement through friction brake pads can be seen as the most common form of braking. In order to convert the vehicle's cinematic energy into thermal energy, a mechanical brakes use friction forces which then dissipates into the atmosphere.
The report provides analysis of global brake friction market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The market for brake frictions is primarily led by the increasing demand for environmentally friendly brake frictions with substantial thermal resistance properties and improved mechanical efficiency. Furthermore, the demand for lightweight automotive brake frictions is expected to increase with the introduction of electric vehicles with regenerative breaking systems. The expected growth in the market for brake frictions will be supported during the evaluation period. In addition, in the industry of automotive frequency friction products, powder, metallurgical and renewable brake friction materials are patterns. The market for carbon based brake frictions is expected to increase because of positive characteristics, such as improved wear strength and environmentally sustainable characteristics.
Because of the expected increase in vehicle production over the evaluation period, the market of brake frictions is projected to increase. This increases the demand for advanced technological braking systems that will continue to lead in the near future to the introduction of advanced automotive frequency friction products. In addition, strict government rules and enforcement of federal car safety legislation have forced manufacturers to concentrate on increasing vehicle safety. The stipulate for brake frictions will continue to be increased and the market in car brake frictions will increase over the forecast period.
Counterfeit car brake traction goods are pushing OEMs to slash their costs and risk their profits. This could negatively affect the expected growth of the car friction products market during the evaluation period. Furthermore, the growth of the market for automotive fret friction products is limited by low life and by high cost of replacement.
In terms of region, the Asia Pacific is estimated to grow significantly
Asia Pacific is expected to dominate the car frequency friction market over the forecast time period owing to increased vehicle production and the significant presence of key vehicles manufacturers in countries like China, Japan and Korea. The sales and demand of the automobile brake friction in Asia Pacific was expected to play a major position in the global market for car brake friction equipment among the segmented regions. Due to the significant growth of the car and aerospace industry in the region, the Asia Pacific demand for car brake friction materials is expanding. The growth of automotive frequency friction materials on the market is driven by rapid industrialization and growing demand for cars worldwide.
The market research study on “Brake Friction Market (Brake Friction Market By Product: Drum Brake, Brake Disc, Others; Brake Friction Market By Vehicle: Commercial Vehicles, Passenger Cars; Brake Friction Market By Linear Type: Woven Brake Liner, Moulded Brake Liner) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Brake Friction market entailing insights on its different market segments.
The global Brake Friction market is segmented as below:
Brake Friction Market By Product
Brake Friction Market By Vehicle
Brake Friction Market By Linear Type
Woven Brake Liner
Moulded Brake Liner
Brake Friction Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such Japan Brake International Co., Ltd., Bosch Akebono Brake Corporation, Auto Parts, Nisshinbo Brake Inc., ABS Friction, Delphi Auto Parts, Bendix Spicer Foundation Brake LLC, Lumag Sp. Z.O.O.,, MIBA AG, Others.
The market value of Brake Friction is anticipated to be around US$ 16 Bn in 2027.
It is anticipated to grow around 3% CAGR amid the forecast period 2020-2027.
Asia Pacific held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
Growth in vehicle production & sales is a key driver of the market.
Japan Brake International Co., Ltd., Bosch Akebono Brake Corporation, Auto Parts, Nisshinbo Brake Inc., ABS Friction, Delphi Auto Parts, Bendix Spicer Foundation Brake LLC, Lumag Sp. Z.O.O.,, MIBA AG and others are the prominent players in the Brake Friction Market.
The report provides insights on global Brake Friction market segment by product, vehicle, linear type and major geographic regions.