Automotive OEM Brake Friction Material Market Size to Grow at 2.93% CAGR and to Hit US$ 13.61 billion by 2029

In the global automotive OEM brake friction material market, the brake pad market is expected to grow as vehicle production is expected to increase during the evaluation period.

PUNE, India, April 5, 2023 /PRNewswire/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive OEM Brake Friction Material Market.

Automotive OEM Brake Friction Material market is expected to grow at 2.93% CAGR from 2023 to 2029. It is expected to reach above USD 13.61 billion by 2029 from USD 10.49 billion in 2022.

The brake pad market is primarily driven by increasing demand for environmentally friendly brake pads with superior heat resistance and improved mechanical efficiency. Moreover, the introduction of electric vehicles with regenerative braking systems is expected to increase the demand for lightweight automotive brake pads. The expected growth of the brake pads market will be supported during the evaluation period. In addition, powder, metallurgy, and renewable brake friction materials are the pattern in the automotive frequency friction products industry. Carbon based brake pads market is expected to increase due to its positive properties such as improved wear resistance and eco-friendly properties.

The brake pad market is expected to grow as vehicle production is expected to increase during the evaluation period. This drives the demand for advanced technology braking systems and will continue to lead to the introduction of advanced automotive frequency friction products in the near future.

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Growth Drivers

Automotive brake traction products are forcing OEMs to cut costs and jeopardize profits. This may adversely affect expected growth of the automotive friction products market during the evaluation period. Growth of the automotive friction products market is limited by poor durability and high replacement.

One of the driving forces for automotive OEM brake friction material market the growth of the automotive brake pad market

One of the major factors driving the growth of the automotive brake pad market is the ready availability of low-cost friction pads. Brake pads form an integral part of automobile disc and drum braking systems. They act as friction materials and are fitted as standard in vehicle braking systems. Brake pads are a common component, readily available and affordable. Asbestos brake pads are cheap to manufacture and therefore form an integral part of the automotive braking system. For reference, the average aftermarket price for brake pads ranges from USD 25 to USD 75, depending on the vehicle and car make. Additionally, the presence of numerous regional and global brake pad manufacturers makes the market more competitive, leading to price competition.

Recent Developments

4th January 2023: Make your car, e-bike, smartphone, fitness tracker, and headphones aware of your surroundings. Bosch develops and manufactures intelligent sensors that make life safer and more comfortable. And these sensors will become increasingly efficient and help protect the planet. Bosch is the pioneer and market leader in micro-electro-mechanical (MEMS) sensors. MEMS sensors are currently one of the most important and widespread sensor types. 

Browse the full "Automotive OEM Brake Friction Material Market Report, By Brake Type (Disc Brake, Drum Brake), Application Type (Brake Lining, Brake pad), Material Type (Organic, Semi Metallic, Ceramic) And Region- Global Market Share, Trend Analysis & Forecast, 2023 – 2029" Report and TOC at https://exactitudeconsultancy.com/reports/14239/automotive-oem-brake-friction-material-market/ 

Segment Overview

The Automotive OEM Brake Friction Material Market is segmented By Brake Type, and By Application Type.       .

Regional Insights

Asia Pacific region is expected to show higher Automotive OEM Brake Friction Material market growth in the forecast period.

 Asia Pacific (60% Largest Market): Asia Pacific is expected to show higher market growth in the forecast period.

60% of the market growth is due to APAC during the forecast period. China, Japan, India and South Korea (Republic of Korea) are the major markets for automotive brake pads in APAC. The market growth in this region will be faster than the market growth in other regions. High acceptance of commercial vehicles in countries such as China, India and South Korea will drive the growth of the APAC automotive brake pads market during the forecast period. This market research report provides detailed information on competitor

What's New for 2023?

• coverage of the danger of a recession, supply chain disruptions, global trade tensions, the Russia-Ukraine War, global inflation, recovery analysis from COVID-19, and global inflation
• Positions of the main competitors and global competition
• influence in the market across several geographic areas - Strong/Active/Niche/Trivial

Some Important Points Answered in this Market Report Are Given Below:

• Outline of product portfolio including product development, planning and positioning
• Details key operational strategies focusing on R&D strategies, corporate structures, localization strategies, manufacturing capabilities, and financial performance of various companies.
• Detailed analysis of market returns over the forecast period.
• Examine different market prospects using Porter's Five Forces Analysis, PEST and SWOT analysis.
• Study of the segment expected to dominate the market.
• A study on analysis of regions projected to register the highest growth during the forecast period

To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/14239/automotive-oem-brake-friction-material-market/  

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Automotive OEM Brake Friction Material Market to Hit USD 13.61 billion by 2029

In the global automotive OEM brake friction material market, the brake pad market is expected to grow as vehicle production is expected to increase during the evaluation period.

https://exactitudeconsultancy.com/reports/14239/automotive-oem-brake-friction-material-market/ 

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