CHICAGO, Nov. 29, 2021 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, 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%.
Browse in-depth TOC on "Brake Friction Products Market"
258 – Tables
58 – Figures
249 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id= 35416213
Increasing demand of passenger cars with brake disc and developments in the brake technology, stopping distance regulations are expected to drive the Brake Friction Products Market.
"Globally, the brake disc segment is expected to lead the market during the forecast period."
The global brake friction market, which can be attributed to the increasing penetration of disc brake systems in different vehicle segments. The penetration of brake discs in passenger cars is increasing globally, key countries are shifting toward disc brake technology in passenger cars.
"Asia Oceania is projected to be the largest regional market"
The Asia Oceania market is estimated to be the largest market in 2021. The growth is attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. Passenger car production has grown due to many factors such as increase in population and increasing GDP post-COVID-19 in China, India, and Japan. Additionally, increasing disposable income in some of the most populated countries has increased the demand for premium and ultra-premium vehicles. Therefore, the adoption rate of SUVs and other vehicles has increased across the globe. SUVs, premium vehicles, and ultra-premium vehicles are equipped with disc brakes with less stopping distance. Due to high-speed capacities and weight of the vehicle, these vehicles require a powerful braking system made of ceramic or carbon composite brake friction products. The key OEMs in this region include Brilliance Auto, Shanghai Automotive Industry Corporation (SAIC), Chery Automobile, Geely Automobile, Hawtai Motor Group, and Honda Motor Co., Ltd.
Request FREE Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id= 35416213
The Brake Friction Products Market is dominated by globally established players such as Robert Bosch (Germany), AISIN CORPORATION (Japan), Nisshinbho Holdings Inc. (Japan), Brembo S.p.A (Italy), and Tenneco Inc. (US) are the leading manufacturers of brake friction products in the global market. These companies adopted new product development, and expansion strategies to gain traction in the automotive turbocharger market.
Browse Related Reports:
Brake System Market by Type (Disc, Drum), Technology (ABS, ESC, TCS, EBD), On & Off-Highway Vehicle(Passenger Car, LCV, HCV, Construction-Mining, Tractor), OHV Brake (Hydraulic Wet, Hydrostatic, Dynamic), Actuation and Region - Global Forecast to 2026
Automotive Safety System Market by Technology (Active (ABS, ESC, BSD, LDWS, TPMS) and Passive (Airbag, Pedestrian and Whiplash Protection)), On-highway (PC, LCV, Buses, Trucks), Off-highway, EV, Offering (Hardware, Software) - Global Forecast to 2025
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/automotive-brake-friction-product-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/automotive-brake-friction-product.asp