— Automotive Friction Brake System Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.
The global automotive friction brake system market is set to witness a steady growth over the next couple of years. Enforcement of stricter automotive safety laws and increased emphasis on preventive maintenance are some of factors that are propelling the global automotive friction brake system. Longer lifecycle of automobiles coupled with a strong vehicle aftermarket in developing counties continues to play an important role in driving the sales of automotive friction brake system.
Friction brake system is becoming a must-have component in modern companies. Manufactures required to comply with the regulatory norms enforced by authorities, which makes it mandatory install proper safety equipment in vehicles. However, difference in regulatory standards form region to region and country to country impacts the adherence level.
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The disc brakes and drum brakes we find in modern vehicles fall under the friction braking system. Over the years, automotive safety regulations have revised rigorously, resulting in improved safety. Advances in technology has led to the arrival of smart braking systems. These systems are expected to witness rapid adoption in forthcoming future. Manufacture are seeking ways to integrate smart braking in automotive safety system. Such enhancement not only increase the level safety but also facilitate better handling and speed control.
The global automotive friction brake system is being driven by increased production of vehicles along with enforcement of stricter regulation on stopping distances. In addition, adoption ESC technology in light vehicle is also reflecting favourably on the market.
Global Automotive Friction Brake System Market: Segmental Analysis
The segmental analysis of the market is based on product type, vehicle type, and sales channel. On the basis of product type, the market has been segmented into disk brake and drum brake. On the basis of vehicle type, the market has been segmented into HCV, LCV and passenger cars. On the basis of sales channel, the market has been segmented into aftermarket and OEM’s.
Global Automotive Friction Brake System Market: Regional Analysis
The regions covered in the report include APAC, Europe, North America, Africa and the Middle East. North America is the largest for automotive friction brake systems. This is primarily owing the presence a large number of automotive manufacturers in the region. Almost every automotive company in the world wants to have a share of the pie in North America. The automotive friction brake market is led by the U.S. in the region, which accounts for a significant share of the market in terms of revenue. Asia Pacific is also an important market for automotive friction brake systems. Similar to North America, APAC is also viewed as an attractive business destination. The automotive sector has witnessed a tremendous growth in APAC with China being at the center of it. Moreover, the rising vehicle parc across the region indicates toward a positive direction for the market. Fast-developing countries such as India, Indonesia and Vietnam also present attractive market opportunities. Efforts to boost domestic manufacturing is also bearing fruits as foreign manufacturers are setting up their facilities attracted by cost benefits and widespread availability of resources.
Global Automotive Friction Brake System Market: Competitive Landscape
Brembo S.P.A., Delphi Automotive PLC, Aisin-Seiki Co. Ltd., Halla Mando Corporation, Akebono Braking Industry Corporation, Federal-Mogul Corporation, Haldex AB, Continental AG, Robert Bosch GmbH and TRW Automotive Holdings Corp are among the market participants that MRFR has mentioned in its report.
Korea-based Sangsin Technology a leading brake friction manufacturer is set to build a manufacturing facility in McDonough Georgia. The cost of setting up this new facility is estimated to be around USD 20 Mn and is likely to create 200 jobs.
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