The brake friction products market is projected to reach USD 13.3 billion by 2026 from USD 10.8 billion in 2021, at a CAGR of 4.3% during the forecast period. The growth of the brake friction products market is influenced by factors such as increasing vehicle production, mandates regarding the stopping distances, demand for better safety.
The brake friction products market is dominated by a few global players and several regional players. Some of the key players in the brake friction products market are Robert Bosch (Germany), AISIN CORPORATION (Japan), Nisshinbho Holdings Inc. (Japan), Brembo S.p.A (Italy), and Tenneco Inc. (US).New product development, expansion, acquisition, and partnership strategy have been the most dominating strategy adopted by major players from 2017 to 2021, which helped them to innovate on their offerings and broaden their customer base.
AISIN AW CO, LTD ( a subsidiary of AISIN CORPORATION) adopted business strategies like new product development and expansions. In April 2019, the company expanded a new production base in the US and capital investments up to USD 400 million, contributing to the overall auto part manufacturing business of Texas. In June 2019, Aisin World Corp. of America (AWA), Northville, Mich., US, a consolidated subsidiary of AISIN Corporation, entered a joint venture with Leon Import, S.A. (Leon), an aftermarket import and sales company located in Panamas established Aisin Sales Latin America, S.A. (ASLA).
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Nisshinbo Holdings Inc. is an environment and energy company addressing global environmental issues. It provides electronics, automobile brakes, precision instruments, chemicals, textiles, and real estate businesses with wireless communications and electronics, automotive parts and devices, lifestyle and materials, and new energy and smart society. Its automobile brake business manufactures brake pads, brake linings, and other friction materials. It is the first company to respond to new rules by developing copper reduced and copper-free friction materials, which have attracted several automakers.. In March 2021, TMD Friction, owned by Nisshinbo Holdings, upgraded the brake product segment by introducing brake linings for new vehicle models.
Brembo S.p.A. designs, develops, and manufactures braking systems for cars, motorcycles, commercial vehicles, and racing. It is the proprietor of Brembo, Breco, ByBre, and Marchesini brands and sells products under the AP Racing brand. Brembo manufactures brake calipers, discs, modules, and carbon ceramic discs. The carbon ceramic brake friction was awarded the Golden Compass prize by ADI, the Italian industrial design association. Brembo introduced its new Brembo Sport | T3 brake disc, a direct replacement for original equipment discs. It has two easily recognizable elements distinguishing it from the previous version - Type3 slotting and the Brembo logo engraved on the braking surface. These new technologies and design features are a first for a road disc.
Brake Friction Products Market (OE & Aftermarket) by Type (Brake Disc, Pad, Drum, Shoe, Liner), Disc Type (Metallic, Composite, Ceramic), Liner Type (Molded, Woven), Vehicle Type (ICE, Electric, PHEV, OHV), and Region - Global Forecast to 2026
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