Global Automotive Aftermarket Brake Friction Parts Market to Reach US$3.9 Billion by 2030, Fueled by a 2.7% CAGR

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Oct 23, 2023, 20:00 ET

DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Automotive Aftermarket Brake Friction Parts - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Automotive Aftermarket Brake Friction Parts, valued at US$3.2 billion in 2022, is projected to grow to US$3.9 billion by 2030, with a compound annual growth rate (CAGR) of 2.7% during the analysis period of 2022-2030.

Among the segments analyzed in the report, Brake Pads are expected to lead the growth with a CAGR of 2.8%, reaching US$2.8 billion by the end of the forecast period. The Brake Shoes segment is estimated to grow at a CAGR of 2.3% over the next 8 years.

Key Market Insights:

The U.S. Automotive Aftermarket Brake Friction Parts market is estimated at US$798 million in 2022.
China, the world's second-largest economy, is forecasted to reach a market size of US$612.1 million by 2030, with a CAGR of 4.2%.
Japan and Canada are also noteworthy markets, expected to grow at 1.4% and 2% respectively from 2022 to 2030.
Germany, within Europe, is forecasted to grow at approximately 2.1% CAGR.

Select Competitors:

Key players in the Automotive Aftermarket Brake Friction Parts market include:

ABS Friction Inc.
Advics Co. Ltd.
Akebono Brake Industry Co. Ltd.
Continental AG
Delphi Technologies
Federal-Mogul Motorparts LLC
Fras-Le S.A.
Japan Brake Industrial Co. Ltd.
Nan Hoang Traffic Instrument Co. Ltd.
Nisshinbo Brake Inc.
Nisshinbo Holdings Inc.
Robert Bosch GmbH
TMD Friction Holdings GmbH
ZF Friedrichshafen AG

Economic Outlook:

The global economic outlook is showing signs of improvement, with growth recovery expected in the near term. While challenges such as slower-than-expected decline in global headline inflation, food and fuel inflation in developing countries, and high retail inflation persist, countries and governments are taking measures to address these issues.

The rise of new technologies, including generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies, is expected to open up new opportunities in the global investment landscape. These technologies have the potential to drive incremental growth and value to global GDP.

The short-term economic landscape is expected to be a mix of challenges and opportunities, requiring resilience and adaptability from businesses and their leaders.

For more detailed insights into the Automotive Aftermarket Brake Friction Parts market and global economic trends, please refer to the full report.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions"
Here's How Inflationary Pressures Affect the Economy
Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
Here's What's Causing Inflationary Pressures in the Global Market
Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
Competitive Scenario
Automotive Aftermarket Brake Friction Parts - Global Key Competitors Percentage Market Share in 2023 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
A Prelude to Automotive Aftermarket Industry
Snapshot of Automobile Parts & Components Intended for OEM & Aftermarket Applications
Aftermarket Brake Shoes & Brake Pads Market: A Review
Aftermarket: Key Revenue Contributor to Brake Friction Parts Market
Global Automotive Aftermarket Brake Friction Parts Market Tightens Grip on Road to a Pothole-Free Journey
COVID-19 Pandemic: A Speed-Breaker for Automotive Aftermarket Brake Friction Parts Market
Speak-Freak Segments of Automotive Aftermarket Brake Friction Parts Market
Trends Indicating Green Light Ahead for Automotive Aftermarket Brake Friction Parts Market
Ferrari-Like Drivers Offering New Oil to Automotive Aftermarket Brake Friction Parts Market
Red Flags for Global Automotive Aftermarket Brake Friction Parts Market
North America Rules while Asia-Pacific Vrooms Ahead on Automotive Aftermarket Brake Friction Parts Market
Asia-Pacific Embarks on High-Speed Trajectory
Friction and Friction Products for Automotive
Brake System
Brake Friction Products
Major Brake Friction Material Advantages and Disadvantages - Ceramic, Semi-Metallic, Metallic and Non-asbestos Organic (NAO) Material
Friction Materials
Classification Based on the State of Friction Contact Surfaces of Application
Select Standards
Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Automobile Production Dynamics Influences Demand Patterns of Automotive Brakes Market
World Automobile Production in Million Units: 2008-2022
Car Brakes used in Modern Automobiles
Nearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVs
An IneviTable Rebound in Market Prospects to Encourage Growth in Sales of Brakes: Global Commercial Vehicle Sales (In 000 Units) for Years 2018, 2020, 2022, 2024 & 2026
Pandemic Impact on the Automotive Industry & What's the New Normal?
Car Production YoY % Growth in 2020 Across Major Regional Markets
Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
Strong Outlook for Automotive Aftermarket to Benefit Demand for Automotive Brakes
Robust Aftermarket Expands the Addressable Market Opportunity for Automotive Brakes: Global Opportunity for Automotive Aftermarket (In US$ Billion) for Years 2023, 2025 and 2027
Product Replacement Cycles: Key Factor Influencing Demand for Aftermarket Parts
Expanding Vehicle PARC & Longer Service Life of Vehicles Drive Opportunities in the Aftermarket
Aging Vehicle Fleet Drives Opportunities for Automotive Brakes in the Aftermarket
With Several Governments Imposing 15 Years as the Retirement Age for Vehicles, the Growing Age of Vehicles is Poised to Benefit Demand for Replacements Parts: Average Age of Cars & Light Trucks in the United States (In Years) for the Years 1980, 1990, 2000, 2015, 2020 and 2022
Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
Average Age of Cars in the EU (2022E): Breakdown by Select Country
Electric Vehicles Rising Demand Influence the Brake Market
Electronic Braking Breakthroughs Push EV Safety & Autonomous Driving Forward
Rising Popularity of Electric and Hybrid Vehicles Fuel Demand for Regenerative Braking
Need for Reducing Automobile Weight, Improve Fuel Efficiency, and Comply with Evolving Tailpipe Emission Regulations Drive Light Weight Material in Brakes
Post Pandemic, Massive Engineering Interest in Lightweighting Will Create Massive Interest in Innovative Lightweight Brakes: Global Automotive Lightweight Materials Market (In US$ Billion) for the Years 2022, 2024 & 2026
Bringing Down Environmental Impacts and Improving Sustainability
How Advances in Carbon Brakes Transformed Formula 1 Landscape
Remanufactured Brake Friction Parts Grow in Prominence
Environmental Impact of Automotive Component Production: Comparison of Green House Gas Emitted (in kgCO2-eq) by Type of Manufacturing Activity - Remanufacturing with Secondary Material, New Production with Secondary Material, Remanufacturing with Primary Material and New Production with Primary Material
Environmental Impact of Automotive Component Production: A Comparison of Waste Generated (in Kg) by Type of Manufacturing Activity - Remanufacturing and New Product Manufacturing
Value of New and Remanufactured Automotive Components: Percentage Breakdown of the Real and Resorted Value of Material, Labor, Energy and Plant & Equipment for New Product and Remanufactured Product
Material Consumption Pattern in the Production of Automotive Components: Breakdown of the Volume of Material Consumed (in Kgs) by Type of Manufacturing Activity - Remanufacturing and New Product Manufacturing
Energy Consumption in Production of Automotive Components: Breakdown of the Volume of Energy Consumed (in Megajoule (MJ)) by Type of Manufacturing Activity - Remanufacturing (with Primary and Secondary Material) and New Production (with Primary and Secondary Material)
Key Trends within the Brake Types and Materials Market
Disc Brakes Rise Above Drum Brakes: Augurs Well for Brake Pads Market
Importance of Brake Pad in Efficient ADAS Operation, Accident Prevention
Technology Developments to Drive Growth
Advancements in the Brake Technology
Automotive Parts Manufacturing Gain as Automakers Strengthen R&D Spending
Automotive R&D Spending in US$ Billion for 2020, 2025, and 2030
Automotive R&D Spending Breakdown by Segment: 2025
From Old School Options to Power Brakes: Car Brakes at Zenith of Automotive Safety
Car Brakes: The Evolutionary Timeline
Braking Trends in the Automotive Market
Future of Brakes - Brake Systems of the Future
Demographic Trends Create Fertile Environment for Long-Term Growth of Automobile Market: Expanding Global Population
World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050
Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
Urban Sprawl
World Urban Population in Millions: 1950-2050
Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
Growing Affluence of Middle Class Population
Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
Large Base of Millennials
Rising Living Standards
Ever Rising Incidences Pertaining to Road Accidents Propels Demand for High-End Automotive Braking Components
An Insight into the Rapidly Growing Online Automotive Aftermarket Industry
Key Issues & Challenges Hampering Industry Prospects

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/124513

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