Friction Products Market 2024-2028
The friction products market is forecasted to grow by USD 8684.7 mn during 2023-2028, accelerating at a CAGR of 5.69% during the forecast period. The report on the friction products market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by aging fleet of automobiles, increasing procurement of new aircraft, and improvements in friction material performance.
Technavio's friction products market is segmented as below:
- By Product
- Automotive
- Industrial
- Aerospace
- Others
- By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the development of high-performance adaptive braking systems as one of the prime reasons driving the friction products market growth during the next few years. Also, shift toward lightweight braking materials in automotive industry and growing use of ceramic fiber in manufacturing of friction products will lead to sizable demand in the market.
The report on the friction products market covers the following areas:
- Friction products market sizing
- Friction products market forecast
- Friction products market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading friction products market vendors that include ABS Friction Inc., AISIN CORP., Akebono Brake Industry Co. Ltd., ANAND Group, ASK Automotive Ltd., Brembo Spa, BREMSKERL REIBBELAGWERKE Emmerling GmbH and Co. KG, Carlisle Companies Inc., EBC Brakes, General Metals Powder Co. LLC, Hindustan Composites Ltd., Honeywell International Inc., Icer Brakes SA, ITT Inc., Knorr Bremse AG, LUMAG Sp. z o.o., Miba AG, Nisshinbo Holdings Inc., Robert Bosch GmbH, and Tenneco Inc.. Also, the friction products market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.