The factors driving the growth of the Friction Brake System market are focus on preventive maintenance, stringency in the safety norms and growing consumer emphasis on safety. Increasing concerns over safety forced the government mandates to improve the vehicle safety as a result of which the demand is expected to be driven. The longer replacement cycle and an increase in number of miles traveled by vehicles are expected to generate huge opportunities in the friction brake system aftermarket segment.
The introduction of smart braking systems has led to a decrease in the number of accidents and loss of lives. These can be integrated with other safety systems that enable speed control and prevent skidding of vehicles to minimize risks of a potential accident. The increasing production of vehicles and sales, coupled with regulations over stopping distances, have contributed magnanimously to the growth and development of the industry.
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Friction Brake System Market – Competitive Analysis
The environmental regulations for brake dust have encouraged many large players in the market to identify alternate materials for brake pads that provide better stopping performance, durability, and generate low wheel dust as compared to conventional copper brake pads. The companies are primarily focused toward developing eco-friendly, reliable, and robust braking systems. The key players have made heavy investments in the field of research & development for increasing their market share and ensuring healthy growth. The companies are engaged in extending their geographical presence to high-growing markets and strengthening their production capabilities.
Industry/ Innovation/ Related News:
April 2017- Continental North America, a business unit of Continental AG operating in the U.S., invested approximately USD 40 million to expand the Morganton automobile plant. The company has also received a job development incentive grant of USD 1.6 million from The State of North Carolina. The added production capacity would be utilized for manufacturing the MK C1 braking systems.
Aug, 2017- Continental introduces an innovative wheel and braking concept for electric vehicles. The design enables the use of a large aluminum brake disk and solves the problem of bad braking performance due to corroded brake disks. It also reduces the weight of the wheel and brake and reduces service costs due to a lifetime brake disk and an easy brake pad change.
Oct, 2016 – Akebono Brake Corporation continues its recent expansion of brake pad coverage with the announcement of nine new part numbers to its Pro-ACT, Performance and EURO Ultra-Premium ceramic disc brake pad lines. This introduces premium brake coverage to an additional 5.8 million domestic, European and Asian vehicles. Akebono has released a total of 25 new part numbers this month, expanding total coverage to more than 10.4 million vehicles.
Friction Brake System Market – Segmentation:
The Friction Brake System Market can be segmented in to three key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Product Type – Disc Brake, Drum Brake
Segmentation by Vehicle type – Passenger Cars, LCV, HCV
Segmentation by Sales Channel – OEM’s, Aftermarket
Segmentation by Regions: North America, South America, Asia-Pacific, Europe and Africa & Middle East
Friction Brake System Market – Regional Analysis:
In Asia Pacific region, the Friction Brake System market has witnessed considerable growth in countries such as China, India, and Brazil, owing to upcoming emission norms. The increase in production of vehicles and lifespan of vehicles, is driving the demand for brake friction products. These developing nations are expected to show strong increasing production volumes over the forecast period. Favorable government initiatives and increased investment in the automotive industry are further expected to drive the growth of the market. The increasing stringent vehicle safety norms and growing number of road accidents have subjected the industry to added pressure from both, governing agencies and consumers. Thus, the industry is estimated to undergo a shift during the forecast period in terms of technology penetration, with disc brakes dominating the market presence.
North America region is estimated to be the fastest growing market. The U.S is the main contributor to the friction brake system market for automotive due to the established automotive manufacturers present in this region. This can be attributed to the increasing demand for improved performance in adverse weather conditions along with the mandatory implementation of the ESC technology in all light vehicles is driving the regional market.
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