Automotive Aftermarket Brake Friction Parts

Automotive Aftermarket Brake Friction Parts

Global Automotive Aftermarket Brake Friction Parts Market to Reach US$3.9 Billion by 2030

The global market for Automotive Aftermarket Brake Friction Parts estimated at US$3.3 Billion in the year 2023, is expected to reach US$3.9 Billion by 2030, growing at a CAGR of 2.7% over the analysis period 2023-2030. Brake Pads, one of the segments analyzed in the report, is expected to record a 2.8% CAGR and reach US$2.8 Billion by the end of the analysis period. Growth in the Brake Shoes segment is estimated at 2.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$817.9 Million While China is Forecast to Grow at 4.3% CAGR

The Automotive Aftermarket Brake Friction Parts market in the U.S. is estimated at US$817.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$612.1 Million by the year 2030 trailing a CAGR of 4.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.5% and 2.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.

Global Automotive Aftermarket Brake Friction Parts Market - Key Trends & Drivers Summarized

What Are Automotive Aftermarket Brake Friction Parts?

Automotive aftermarket brake friction parts are critical components used in the braking systems of vehicles. These parts include brake pads, brake shoes, rotors, and drums that are replaced during routine maintenance and repairs. Aftermarket brake friction parts are essential for ensuring the safety and performance of a vehicle`s braking system. They are designed to meet or exceed the performance standards of original equipment manufacturer (OEM) parts and are available in various materials and formulations to suit different driving conditions and vehicle types. The aftermarket segment allows vehicle owners to maintain their braking systems cost-effectively without compromising on quality.

How Are Industry Demands Shaping This Market?

Industry demands are significantly shaping the automotive aftermarket brake friction parts market. The increasing vehicle age and the growing number of vehicles on the road are driving demand for replacement parts. As vehicles accumulate mileage, the wear and tear on brake components necessitate regular maintenance and replacement. The rising awareness of vehicle safety and the importance of maintaining a reliable braking system are also influencing market trends. Additionally, the growth of the automotive aftermarket sector, supported by the availability of high-quality and cost-effective brake friction parts, is further propelling market growth.

What Technological Innovations Are Influencing This Market?

Technological innovations are transforming the automotive aftermarket brake friction parts market, improving product performance and durability. Advances in material science have led to the development of high-performance friction materials that offer better heat dissipation, reduced noise, and enhanced braking efficiency. The use of ceramic, semi-metallic, and organic compounds in brake pads and shoes is improving their lifespan and performance under various driving conditions. Additionally, innovations in manufacturing processes, such as precision machining and advanced bonding techniques, are enhancing the quality and reliability of brake friction parts. These technological advancements are essential for meeting the high standards of safety and performance required in the automotive industry.

What Factors Are Driving Market Growth?

The growth in the automotive aftermarket brake friction parts market is driven by several factors, including the increasing vehicle age, rising vehicle safety awareness, and technological advancements in brake friction materials. The growing number of vehicles on the road and their extended lifespans are driving demand for replacement brake parts. The emphasis on vehicle safety and the need for reliable braking systems are also propelling market growth. Technological innovations, such as advanced friction materials and improved manufacturing processes, are enhancing the performance and durability of aftermarket brake friction parts, attracting consumer investment. Additionally, the expansion of the automotive aftermarket sector, supported by the availability of high-quality and cost-effective replacement parts, is contributing to the market`s growth. These factors collectively ensure a robust demand for automotive aftermarket brake friction parts, driving the market forward.

Select Competitors (Total 163 Featured) -

• ABS Friction Inc.
• ADVICS
• Akebono Brake Industry Co. Ltd.
• BorgWarner Inc.
• Brembo SpA
• Continental AG
• Disc Brakes Australia Pty. Ltd.
• Fras-le S.A.
• Haldex AB
• Nan Hoang Traffic Instrument Co., Ltd.
• Nisshinbo Holdings Inc.
• Robert Bosch GmbH
• Tenneco Inc.
• ZF Friedrichshafen AG

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