Automotive Aftermarket Brake Friction Part Trends and Forecast
The future of the automotive aftermarket brake friction part market looks promising with opportunities in the passenger car and commercial vehicle markets. The automotive aftermarket brake friction part market is expected to reach an estimated $3.4 billion by 2030 with a CAGR of 2.6% from 2024 to 2030. The major drivers for this market are increased vehicle age and maintenance needs, growing vehicle ownership, and implementation of stringent government policies.
Lucintel forecasts that brake pad is expected to witness the higher growth over the forecast period due to their superior performance.
Within this market, passenger car is expected to witness the higher growth due to increasing larger vehicle population and rising demand for replacement brake parts.
APAC is expected to witness highest growth over the forecast period due to significantly growing vehicle population and implementation of stringent government norms in the region.
A more than 150-page report is developed to help in your business decisions.
Emerging Trends in the Automotive Aftermarket Brake Friction Part Market
Technological advances, changes in regulations and evolving consumer tastes are reflected in the emerging trends of the Automotive Aftermarket Brake Friction Part market. And these developments are shaping the future of brake friction technology and its application.
• Change to High-Performance Materials: Greater need exists for high-performance brake friction materials that have longer lifespan and produce less noise. This has led to advancement in materials science, enhancing better performance during extreme conditions and services extending for a longer period of time.
• Attention on Sustainability: There is a trend towards ecological friendly and recyclable brake friction materials in the industry. It is driven by regulatory pressures and customers’ interest in sustainable products that has resulted into green technologies’ innovations as well as new materials coming on board.
• Integration with Advanced Vehicle Technologies: Designing of brake friction parts to work effectively with advanced vehicle technologies such as electronic stability control (ESC) and autonomous driving systems. This move enhances overall safety precautions for the motor vehicle while also improving its general performance.
• Growth in Online Sales Channels: The rise of e-commerce is influencing the aftermarket brake friction parts market. Thus, consumers along with repair shops prefer online shopping for a wide range of reasons leading to efficient supply chains coupled with digital platforms
These trends will have a major impact on product development, consumer choices, industry practices in the automotive after-market brake friction part market.
Recent Developments in the Automotive Aftermarket Brake Friction Part Market
There have been recent developments in the Automotive Aftermarket Brake Friction Part market that discuss advances in material technology, regulatory compliance, and market dynamics. These developments are changing the industry and shaping its product offerings.
• Breakthroughs in Advanced Materials: Manufacturers are working on new brake friction materials to improve performance and durability. Such innovations comprise of material with higher heat resistance and lower noise levels leading to superior total braking effectiveness.
• Reform of Regulatory Compliance: Companies are striving hard to meet stringent environmental and safety regulations. Developments here include creation of eco-friendly materials as well as technologies meeting the new emission standards for performance.
• Technological Integration: The adoption of advanced technologies on brake systems is pushing for creation of friction parts that seamlessly work with sophisticated vehicle concepts like electronic stability control system or autonomous braking system.
• Expansion into E-Commerce Channels: The automotive after-market is increasingly using sales and distribution channels based on e-commerce platforms. This improvement allows customers to purchase any brake friction parts more conveniently through the internet, thus benefiting consumers and repair shops alike.
This change implies alterations in how products are designed, what determines the strength or weakness of markets, as well as customer tastes within the Automotive Aftermarket Brake Friction Part market.
Strategic Growth Opportunities for Automotive Aftermarket Brake Friction Part Market
The automotive aftermarket brake friction part market provides many strategic growth opportunities that are driven by technology, industry trends and regulatory changes. These developments have impacted on the future of the sector through innovation.
• Designing High-Performance Brake Systems: It is a remarkable chance for creating high-performance brake friction materials which will satisfy needs of sport and premium cars. This category has been increasing because of consumers demanding for improved vehicle performance.
• Expansion into Emerging Markets: Such markets as India and Southeast Asia provide opportunities for growth in case company enters them. The rise in automobile purchases in these regions is accompanied by growing demand for affordable yet quality brake parts.
• Investment in Sustainable Technologies: Brake manufactures should invest more companies which make eco-friendly and recyclable material hence adhering to regulations and customers’ preferences. Firms that emphasize on sustainability stand out among competitors.
• Integration with Advanced Vehicle Systems: Creating braking systems that work together with advanced vehicle systems like ADAS and self-driving technologies may lead to sales growth. Such combinations increase safety levels at the same time attracting technology-oriented consumers.
This report provides an analysis of various strategic growth opportunities behind automotive aftermarket brake friction parts, including influencing market dynamics, driving innovation, expanding reach.
Automotive Aftermarket Brake Friction Part Market Driver and Challenges
The Automotive Aftermarket Brake Friction Part market is influenced by a range of drivers and challenges, including changes in technology, regulations and the economy. To navigate the market properly, it is important to understand these aspects.
The factors responsible for driving the automotive aftermarket brake friction part market include:
1. Technological advancements: Innovations through materials and manufacturing processes improve brake friction performance and durability. Demand for new and improved parts is driven by advances like better heat resistance or noise reduction technologies.
2. Regulatory Compliance: New environmental and safety regulations are making companies develop brake friction parts that meet new standards. Technologies that support compliance with changing laws as well as product performance improvements are being invested in.
3. Growing Vehicle Ownership: Increasing vehicle ownership across the globe increases demand for aftermarket parts like brake friction components. As vehicles on road increase so does need for replacement as well as upgrade parts on the aftermarket.
4. Focus on Safety and Performance: Both consumers and manufacturers have intensified their focus on vehicle safety and performance resulting into the demand for top quality brake friction parts. Key among other factors include; improved braking performance or reduced stopping distances.
Challenges in the automotive aftermarket brake friction part market are:
1. High Development Costs: Developing advanced brake friction materials and technologies can be quite expensive. Manufacturers face a challenge balancing cost considerations with improvement in function.
2. Regulatory Compliance Costs: Stringent environmental protection measures coupled with protective measures require significant research investments. Meeting new standards requires continuous adaptation and innovation.
These drivers or challenges shape product development, marketing strategies as well as overall industry dynamics in Automotive Aftermarket Brake Friction Part market
List of Automotive Aftermarket Brake Friction Part Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive aftermarket brake friction part companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive aftermarket brake friction part companies profiled in this report include-
• ABS Friction
• ADVICS
• Akebono Brake Industry
• Continental
• Delphi Technologies
• Federal-Mogul Motor parts
• Fras-Le
• Japan Brake Industrial
• Nan Hoang Traffic Instrument
• Nisshinbo Brake
Automotive Aftermarket Brake Friction Part by Segment
The study includes a forecast for the global automotive aftermarket brake friction part by product type, material type, vehicle type, and region.
Automotive Aftermarket Brake Friction Part Market by Product Type [Analysis by Value from 2018 to 2030]:
• Brake Pads
• Brake Shoes
• Others
Automotive Aftermarket Brake Friction Part Market by Material Type [Analysis by Value from 2018 to 2030]:
• Semi Metallic
• Non-Asbestos Organic
• Low-Metallic Non-Asbestos Organic
• Ceramic
Automotive Aftermarket Brake Friction Part Market by Vehicle Type [Analysis by Value from 2018 to 2030]:
• Passenger Cars
• Commercial Vehicles
• Others
Automotive Aftermarket Brake Friction Part Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Automotive Aftermarket Brake Friction Part Market
There are a lot of changes happening in the automotive aftermarket brake friction part market because of technological advancements, regulatory pressures, and shifts in consumer preferences. This is improving braking performance and safety across different regions.
• United States: The US has observed the rise of high-performance brake friction parts due to increased vehicle performance and safety regulations. Some improvements include using new materials for improved strength and low noise that caters for luxury and regular vehicles.
• China: Brake friction material improvement is China’s target to comply with strict environmental standards as well as improve vehicle safety. There is also an increase in the market share of electric cars; hence, these new technologies have led to specialized brakes demand.
• Germany: Germany on its side leads in eco-friendly designs since it concentrates on reducing pollution caused by harmful emissions from brakes as well as developing recycling processes. Enhancements made involve sustainable practices integration into their systems with further elevated standards intended at meeting rigorous rules.
• India: The Indian market grows because of increasing number of vehicles owned by people as well as rise in awareness about safety standards. A change towards affordable but dependable aftermarket braking systems that balance between cost and effectiveness have been noticed too.
• Japan: Japan has developed technologically advanced brake friction materials for traditional as well as hybrid cars. The primary focus here has been to add value to consumer expectations while meeting industry regulations through better durability and higher performance capabilities during application of the brakes.
Features of the Automotive Aftermarket Brake Friction Part Market
Market Size Estimates: Automotive aftermarket brake friction part market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive aftermarket brake friction part market size by product type, material type, vehicle type, and region in terms of value ($B).
Regional Analysis: Automotive aftermarket brake friction part market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, material types, vehicle types, and regions for the automotive aftermarket brake friction part market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive aftermarket brake friction part market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the automotive aftermarket brake friction part market size?
Answer: The global automotive aftermarket brake friction part market is expected to reach an estimated $3.4 billion by 2030.
Q2. What is the growth forecast for automotive aftermarket brake friction part market?
Answer: The global automotive aftermarket brake friction part market is expected to grow with a CAGR of 2.6% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the automotive aftermarket brake friction part market?
Answer: The major drivers for this market are increased vehicle age and maintenance needs, growing vehicle ownership, and implementation of stringent government policies.
Q4. What are the major segments for automotive aftermarket brake friction part market?
Answer: The future of the automotive aftermarket brake friction part market looks promising with opportunities in the passenger car and commercial vehicle markets.
Q5. Who are the key automotive aftermarket brake friction part market companies?
Answer: Some of the key automotive aftermarket brake friction part companies are as follows:
• ABS Friction
• ADVICS
• Akebono Brake Industry
• Continental
• Delphi Technologies
• Federal-Mogul Motor parts
• Fras-Le
• Japan Brake Industrial
• Nan Hoang Traffic Instrument
• Nisshinbo Brake
Q6. Which automotive aftermarket brake friction part market segment will be the largest in future?
Answer: Lucintel forecasts that brake pad is expected to witness the higher growth over the forecast period due to their superior performance.
Q7. In automotive aftermarket brake friction part market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to significantly growing vehicle population and implementation of stringent government norms in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive aftermarket brake friction part market by product type (brake pads, brake shoes, and others), material type (semi metallic, non-asbestos organic, low-metallic non-asbestos organic, and ceramic), vehicle type (passenger car, commercial vehicle, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Automotive Aftermarket Brake Friction Part Market, Automotive Aftermarket Brake Friction Part Market Size, Automotive Aftermarket Brake Friction Part Market Growth, Automotive Aftermarket Brake Friction Part Market Analysis, Automotive Aftermarket Brake Friction Part Market Report, Automotive Aftermarket Brake Friction Part Market Share, Automotive Aftermarket Brake Friction Part Market Trends, Automotive Aftermarket Brake Friction Part Market Forecast, Automotive Aftermarket Brake Friction Part Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.