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New York, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Brake Friction Products Market by Type, Disc Type, Liner Type, Vehicle Type And Region - Global Forecast to 2026' -
Hence, the growth of the brake friction market also depends on the global vehicle parc.
As per OICA, total vehicle sales, which include passenger cars and light commercial vehicles, increased from 91,458,490 units in 2016 to 92,654,055 units in 2018.Increased vehicle sales have increased the vehicle parc in the last few years substantially.
The cumulative global vehicle part, which includes PC, LCV, and HCV segments, has increased from 8,59,769.7 thousand units in 2018 to 9,42,911.2 thousand units in 2020. The increase in vehicle parc has fueled the brake friction market globally.
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
Asia Oceania is estimated to be the largest market for brake friction products as China and Japan are the major vehicle-producing countries and accounted for around 57% and 20% in 2020, respectively.With the increasing vehicle production and enhanced brake technologies such as ABS and EBD, the demand for brake friction products is increasing continuously.
According to OICA, global vehicle production increased from 77.6 million units in 2010 to 89.3 million units in 2026. Particularly in Asia, increasing industrialization is driving the production of trucks and commercial vehicles.
In-depth interviews were conducted with CEOs, marketing directors, other innovation and strategy directors, and executives from various key organizations operating in this market.
• By Company Type: Tier 1 –80%, Tier 2 – 20%
• By Designation: C Level - 40%, D Level- 35%, and Others – 25%
• By Region: Asia Pacific - 20%,Europe – 50%, North America – 25% and RoW – 5%
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.
The brake friction products market is segmented based on brake friction products, brake liner by type, brake disc by material, off-highway, electric vehicle, and vehicles (Passenger Cars, LCVs, Trucks, and Buses), aftermarket, and regions .The study also includes an in-depth competitive analysis of the major brake friction products manufacturers in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall brake friction products market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the market's pulse and provides them information on key market drivers, restraints, challenges, and opportunities.
Read the full report:
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