The automotive brake friction products market was valued at US$ 10.4 Bn in 2021 and is expected to reach US$ 17.2 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, revenue through brake shoes grew at 3.6% during 2017-2021. Brake shoes provide enough space to create the friction required to stop the car and have greater longevity.
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U.S. to dominate the Automotive brake friction product market throughout the Analysis Period
The market for automotive brake friction products in the U.S. is valued at US$ 5.8 Bn by 2032. U.S. generated the highest revenue of approximately 3.4% CAGR in 2017-2021 and is expected to achieve a growth rate of 4.1% by 2032. Stringent regulations and awareness about safety is driving the demand for automotive brake friction products. Department of Toxic Substances Control prohibits the sale of any vehicle containing more than 0.5% copper by weight by 2025. The absolute dollar opportunity growth in U.S. is expected to be US$ 1.9 Bn during the forecast period.
“Due to changing architecture of vehicles, there is a thriving demand for intelligent brake systems. Brake friction material manufacturers are engaging in portfolio diversification to meet the future needs of automated driving and electrification and combining uncompromising safety and sustainability in future brake systems.” comments an analyst at Future Market Insights.
Competitive Landscape
Automotive brake friction product manufacturers are largely aiming at expanding their manufacturing facilities, investing in R&D and innovating their products. The key companies operating in the automotive brake friction products market include ABS Friction, Bendix Spicer, Robert Bosch, Nisshinbho Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul, Delhphi, Akebono Brake Industries, Miba AG, Aisin Seiki Co., Ltd., Macas Automotive, Masu brakes Pvt Ltd, Sundaram Brake Linings Ltd, Standard Friction Components Ltd, Japan Brake Industrial Co., Ltd, and Toughla Brake Linings.
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Some of the recent developments by key providers of flexible screens are as follows:
- In April 2022, Tenneco introduced advanced OE hybrid friction material composites that aim to serve to brake and need for comfort in an internal combustion engine (ICE) and electric vehicles (EVs). The new hybrid friction material will combine the benefits of low steel (LS) and non-asbestos-organic (NAO) composites. This unique hybrid composite material will specifically suit electric vehicles.
- In April 2022, Faraday Future Intelligent Electric Inc. declared Brembo as their main supplier for specialized caliper assembly for FF 91 EV which includes pistons, calipers, and brake pads. Their partnership will ensure high braking performance and safer vehicle experience for the driver.
- In March 2022, Brembo announced its official partnership with Gran Turismo TM 7 for braking systems. Gran Turismo TM 7 will cover high performance and reliability in their unique braking solutions that will offer best driving experience. Brembo is also making available its UPGRADE systems which will include Carbon Ceramic Disc along with GT|BM calipers in 8 different colors.
- In March 2022, Brembo announce that it will supply customized braking components for formula one world championship. The company will supply cars with hydraulic and friction parts including carbon disc and pads that will comply with the latest FIA regulation while committing to higher performance.
- In Feb 2022, Brembo added Dual Cast and Lightweight two-piece disc to its aftermarket operations. The new disc will use special cast iron process, lighter-weight hats, pillar or directional venting, plus holes and grooves on the braking surface. It will ensure precise and firm braking performance and lighter braking system, with additional environmental benefits.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Automotive Brake Friction Products Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Automotive Brake Friction Products in terms of Disc Material (Metallic, Ceramic and Composites), Product Type (Brake Shoes, Brake Pad, Brake Liner, Disc Brake, Drum Brake), and Vehicle Type (Passenger Vehicles, Commercial Vehicles) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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