NEWARK, Del, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The global automotive brake friction products market is expected to create lucrative growth opportunities with an opulent CAGR of 4.8% during the forecast period from 2022 to 2032. The market was valued at around US$ 10.4 Bn in 2021 and is likely to reach a valuation of US$ 17.2 Bn by 2032.
The automotive brake friction products market grew at an average annual rate of 3.6% from 2017 to 2021. The automobile brake friction items include a disc brake, brake shoes, drum brake, brake pad, and liner, all of which are intended to slow down a vehicle. Furthermore, brake shoes are the main application for metallic automotive brake friction products. Brake shoe revenue experienced 3.1% growth from 2017 to 2021, and 4.2% growth is anticipated over the projection period.
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Key players in the global automotive brake friction products market are massively aiming at expanding their manufacturing facilities, investing in research and development along with innovating new products.
Major companies in the Automotive Brake Friction Products include Robert Bosch, Nisshinbho Holdings Inc., Brembo S.p.A, Tenneco Inc., Federal-Mogul, Delhphi, Akebono Brake Industries, ABS Friction, Bendix Spicer, Japan Brake Industrial Co., Ltd, Toughla Brake Linings.
More Insights into the Automotive Brake Friction Products Market
China is predicted to account for over 30% of the global automotive brake friction products market. China is expected to create an absolute dollar opportunity by accounting for a total market share of around US$ 361.2 Mn by 2032. With the rise in ABS and EBD brake technologies, the demand for brake friction products is increasing continuously. The market in China is anticipated to reach a market size of US$ 1.2 Bn by 2032.
Japan accounted for around 24% of the global market share in automotive brake friction products in 2021. The absolute dollar opportunity growth in Japan is projected at US$ 219.1 Mn during the forecast period. Japan continues to extend its offering in the Middle East and Asia for Industrial and Automotive OE in the aftermarket. Japan’s anticipated market size in the automotive brake friction product market is expected to reach US$ 924.7 Mn during the forecast period.
Key Segments Covered in Automotive Brake Friction Products Industry Survey
Automotive Brake Friction Products by Disc Materials:
Automotive Brake Friction Products by Product Type:
Automotive Brake Friction Products by Vehicle Type:
Automotive Brake Friction Products by Region:
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
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Explore Wide-ranging Coverage of FMI’s Automotive Landscape
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