Automotive brake friction is generated between the wheels of a vehicle and the road surface when brakes are applied. Brakes are mainly intended to stop or reduce the speed of the vehicle.
Increase in the production of vehicles in the recent years is expected to drive the automotive brake friction market during the forecast period. Rise in the number of accidents caused due to exceeding of the speed limit by the driver or loss of control over the vehicle is further anticipated to propel the growth of the automotive brake friction market in the years to come. Technological advancements such as electronic braking system (EBS), advanced brake system (ABS), and regenerative braking for improving the braking system is expected to provide promising opportunities to the automotive brake friction market during the forecast period. Furthermore, increase in research and development activities on environment-friendly brake friction products which dissipate less heat and possess improved mechanical properties are projected to boost the growth of the automotive brake friction market in the next few years.
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Surge in efforts for electrification of vehicles in the recent years is anticipated to provide lucrative opportunities for the development of light-weight automotive brake friction products. This is expected to further fuel the growth of the automotive brake friction market during the forecast period. Moreover, research activities underway across the world for developing better and improved brake friction materials by using nanomaterials are estimated to promote the growth of the automotive brake friction market in the coming years.
In certain types of braking system, such as autonomous emergency braking (AEB), brakes are applied mainly with an intention to reduce the impact in case of collision. However, many a time, it is not possible to avoid collision completely. This is anticipated to hinder the growth of the automotive brake friction market during the forecast period. The average lifespan of brake friction products such as brake shoes, brake pad, or brake liner is quite low and they need to be replaced regularly due to wear and tear. If not replaced at the right time, it can pose a threat to the safety of the driver. This is expected to adversely impact the growth of the automotive brake friction market during the forecast period.
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Based on vehicle type, the automotive brake friction market can be classified into passenger vehicles and commercial vehicles. The commercial vehicles segment can be further sub-segmented into light commercial vehicles (LCVs), heavy commercial vehicles (HCVs), and buses & coaches. The commercial vehicles segment is expected to witness remarkable growth in the automotive brake friction market during the forecast period owing to the greater amount of wear and tear of bushes caused due to the comparatively high load carrying capacity and more running of commercial vehicles compared to passenger vehicles.
In terms of product, the automotive brake friction market can be divided into brake pad, brake shoes, brake discs, brake drums, and brake liner.
Based on type of brake, the automotive brake friction market can be categorized into disc brakes and drum brakes. Among types of brake, the disc brake segment is expected to dominate the automotive brake friction market during the forecast period. This can be primarily ascribed to the additional advantages of disc brakes such as their ability to effectively and safely bring the vehicle to a stop and effective dissipation of heat.
In terms of technology, the automotive brake friction market can be bifurcated into foundation brakes and electronic brakes. The electronic brake segment can be further split into anti-locking braking system (ABS), electric park brake, braking assistance, predictive braking, brake-by-wire, slip control, regenerative braking, and autonomous emergency braking (AEB).
Based on technology, the antilock brake segment is anticipated to witness remarkable growth in the automotive brake friction market at the beginning of the forecast period. ABS prevents the wheels from locking up and avoids uncontrolled skidding of the vehicle. AEB system first tries to avoid the collision by warning the driver about required action. If no action is taken and the collision is about to occur, the system applies the brakes. Some AEB systems apply full braking force, while others apply a gradual braking force. Thus, the AEB system plays a vital role in preventing collisions or, at least, in reducing the impact. Increase in efforts being undertaken by OEMs (original equipment manufacturers) across the world to develop and implement autonomous vehicles is expected to promote the growth of the automotive brake friction market in the next few years.
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The regenerative braking system is anticipated to account for a dominant share of the automotive brake friction market in the near future as there has been an increasing demand for electrification of vehicles during the recent times.
Based on sales channel, the automotive brake friction market can be segmented into OEMs and aftermarkets. The aftermarket segment is anticipated to witness significant growth during the forecast period as the average lifespan of brake friction products is lower than the overall average lifespan of vehicles.
In terms of geography, the automotive brake friction market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific is expected to dominate the automotive brake friction market during the forecast period owing to the increasing production of vehicles and the strong presence of key vehicle manufacturers in countries such as China, Japan, and South Korea in the region.
Key players operating in the automotive brake friction market include Robert Bosch GmbH, Aisin Seiki Co., Ltd., Delphi Automotive LLP, Federal-Mogul Corporation, Brembo S.p.A., Akebono Brake Corporation, and Nisshinbo Holdings Inc.
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