Automotive Friction Brake System Market to Demonstrate a Strong Growth Over 2022

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Automotive Friction Brake System Market.

According to the new report by Market Research Future (MRFR), the global automotive friction brake system market is slated to acquire a important market valuation at a steady CAGR over the review period.

The factors driving the growth of the market for automotive friction brake system are the massive demand for automobiles across the globe, technological advancements, the shifting focus of major market players on dealing with preventive maintenance, stringency in the safety norms, and growing consumer demand for the emphasis on safety. Increasing concerns over security as pushed the introduction of government mandates to improve vehicle safety. as a result, the need for automotive friction brake systems is expected to grow over the review period. The longer replacement cycle and a surge in number of miles traveled by vehicles are likely to generate considerable opportunities in the friction brake system aftermarket segment. The increasing production of cars and sales, coupled with regulations over stopping distances, have contributed generously to the growth and expansion of the industry over the forecast period.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Automotive Friction Brake Market TrendsSegmental Analysis

The automotive friction brake system market has substantial the product, vehicle, and sales channel.

Based on the product type, the automotive friction brake system market has been segmented into disc brakes and drum brakes. on the basis of the vehicle type, the market for automotive friction brake system has been segmented into passenger cars, heavy commercial vehicle (HCV), and lightweight commercial vehicle (LCV). Based on the sales channel, the market has been segmented into original equipment manufacturers (OEM’s), and aftermarket.

Regional Analysis

Based on the region, the global automotive friction brake system is segmented into Europe, Asia Pacific, North America, and the rest of the world, including the middle east, Latin America, and Africa.

In Asia Pacific region, the market for automotive friction brake system has observed considerable growth in countries such as China, India, owing to imminent emission norms. The increase in manufacture of vehicles and lifespan of vehicles is fueling the demand for brake friction products. These emerging nations are predicted to display substantial growing production volumes over the forecast period. Favorable government initiatives and improved investment rate in the automotive industry are further expected to drive the growth of the market. The increasing stringent vehicle safety norms and the growing number of road accidents have subjected the sector to added pressure from both governing authorities and consumers. Therefore, the industry is projected to endure a shift during the forecast period in terms of technology penetration, with disc brakes leading the market presence.

North America region is projected to be the fastest-growing market. The U.S is the foremost contributor to the friction brake system market for automotive industry, owing to the established automotive manufacturers present in this region. This can consider the growing demand for enhanced performance in adversative weather conditions along with the compulsory implementation of the ESC technology in all lightweight vehicles is driving the regional market over the forecast period.

Europe is also a significant region of the global automotive friction brake system market and is expected to account for a substantial market share over the forecast period. This is attributed to the presence of leading market players in established automotive industries in developed economies of Germany, France, and the UK which are driving the growth of the automotive friction brake system market over the forecast period. Moreover, the market is also driven by the increasing technological advancements, a result of the research and development projects taking place in the region.

Key Players some of the leading players operating in this market identified by MRFR are Brembo S.P.A, Akebono Braking Industry Corporation, Delphi Automotive PLC, Continental AG, TRW Automotive Holdings Corp., Federal-Mogul Corporation, Aisin-Seiki Co. Ltd., Robert Bosch GmbH, and Haldex AB Halla Mando Corporation.