LUTON, U.K. – The brake friction product market size was valued at $9.98 billion in 2020 and is projected to reach $14.58 billion by 2029, growing at a compound-annual-growth rate (CAGR) of 4.3% according to a recently released report from Exactitude Consultancy.
The research firm’s Brake Friction Products Market Forecast study focuses at sales and the overall global market for brake friction products in 2022. The sales forecast for brake friction products by region and market sector for the years 2023 through 2029 is then thoroughly analyzed.
Based on market dynamics and development-promoting variables, the brake friction products market research assesses market valuation and growth rate. On the most recent business prospects, trends, and news in the sector. Along with a SWOT analysis of the major suppliers, the research also includes a thorough market study and vendor landscape.
The research identifies the keys that will drive growth since demand is determined by a buyer’s financial resources and the rate at which an item develops. Key companies and new entrants can gain insight into the spending reports of major market participants in this area, which will help them better appreciate the possibilities for investment in the global brake friction products market. It can be used more effectively by both established and up-and-coming players in the market to gain a thorough understanding of the sector.
Major companies in this market are:
Delphi Automotive LLP, Brembo S.p.A., Nisshinbo Holdings Inc., Robert Bosch GmbH, AISIN CORPORATION, Brembo S.p.A, Tenneco Inc., Federal-Mogul Corporation, Akebono corporation, TMD Friction Holdings
Brake Friction Product Market Segmentation:
- By Type: brake disc; pad; drum; shoe; liner
- By Disc Type: metallic; composite; ceramic
- By Liner Type: molded; woven
- By Vehicle Type: passenger vehicles; commercial vehicles
- By Region: North America; Europe; Asia Pacific; South America; Middle East and Africa:
The overall part of the research also lists specific market-impacting variables and domestic market regulation changes that have an effect on the market’s present and future tendencies.
Some of the key data points used to estimate the market situation for specific nations are consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, and upstream and downstream value chain analysis.
When giving prediction analysis of the country data, it also takes into account the presence and accessibility of international brands, the difficulties they encounter owing to strong or weak competition from local and domestic brands, the influence of domestic tariffs, and trade routes.