Brake Friction Market

Market Leader - Brake Friction Market

The brake friction market is estimated to be USD 13.48 Billion in 2018 and is projected to reach USD 15.84 Billion by 2025, at a CAGR of 2.33% from 2018 to 2025. The increasing demand for safety and security and increased production of vehicles have led to the growth of the brake friction market. The brake friction aftermarket is projected to grow at a CAGR of 1.03% during the forecast period, from an estimated USD 29.778 Billion in 2018 to USD 31.99 Billion by 2025. This growth can be attributed to the increased vehicle miles driven and traffic congestions across the globe.

Brake friction products create dust particles that are harmful to the environment. This has increased the demand for eco-friendly brake friction products. Additionally, as per a mandate by the Environmental Protection Agency (US EPA), copper content in disc pads should be reduced to less than 5% by 2025. These regulations have compelled key players such as Nisshinbo and Robert Bosch to introduce copper and asbestos free brake pads. Hence, with regulations related to brake dust and technological advancements, eco-friendly brakes are set to gain traction in the near future.

Most of the passenger cars in developed countries are equipped with disc brake systems. Passenger cars in developing countries such as India are gradually shifting towards the all-disc braking system. This shift towards brake disc system can be attributed to the increasing demand for safety and better braking performance. On the other hand, most of the heavy commercial vehicles use all drum brake system due to their load-bearing capacity. However, the NHTSA and European commission have decreased the stopping distance of a heavy vehicle. Hence, many commercial vehicles are now equipped with disc brakes in front wheels and drum brakes in rear wheels. This combination of disc and drum brakes helps to reduce the stopping distance significantly. Additionally, disc brake systems are easy to install and lighter in weight. Hence, disc brake systems are expected to dominate the market for passenger cars and commercial vehicles. The increasing demand for better braking power and safety will drive the market for disc brakes in the near future.

Asia Oceania is estimated to lead the brake friction market and will see strong growth during the forecast period. With increasing vehicle parc, development of road infrastructure, and increase in average miles driven, China is expected to be the key contributor to the Asia Oceania market. The highest growth of the aftermarket for brake friction products in the region can be attributed to the increasing passenger car parc, which accounts for the largest market share of vehicle parc in the region. China, Japan, and South Korea have a strong replacement market for disc brake system owing to high installation rate of disc braking system. Moreover, countries such as India are witnessing a high installation rate of disc brakes in passenger cars. Hence, the replacement market for disc brakes in the region is estimated to grow at the highest CAGR during the forecast period.   Moreover, with increasing environmental concerns, the demand for eco-friendly brake friction products is also expected to increase.

Related Reports:

Brake Friction Market (OE & Aftermarket) by Type (Brake Disc, Pad, Drum, Shoe, Liner), Disc Type (Metallic, Composite, Ceramic), Liner Type (Molded, Woven), Vehicle Type (ICE, Electric, Hybrid, OHV), and Region - Global Forecast to 2025

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