COVID-19 Impact on Global Automotive OEM Brake Friction Material Market by Product Type(Brake Pad, Brake Shoes and Others); By Application (Passenger Cars and Commercial Vehicles) and Region -Analysis of Market Size, Share and Trends for 2014 - 2020 and Forecasts to 2030
Disc brakes and the drum brakes are fitted respectively with friction material called brake pads and brake linings. In the brake system, friction materials play a significant role as brakes use friction to decelerate and stop. Disc brake pads and drum brake linings are made from a combination of 10 to 20 raw material forms. The raw materials are classified into bonding content, stiffener, and content for friction adjustment according to their particular functions. The bonding-material hardens raw materials and gives hardness to the materials. The stiffener gives more strength to the friction materials. Various types of organic and inorganic fibers are used, such as aramid fibers, and metal fibers. The material for friction adjustment primarily adjusts the performance of friction materials. It is used to reinforce efficiency or to improve friction material output. Additionally, friction materials are required to exercise stable efficacy under varying conditions, such as vehicle speed, laden weight, or temperature change from brake use, as well as under various environmental factors like humidity, water, and mud.
Global Automotive OEM Brake Friction Material Market size was registered at USD XX billion in 2020 and is estimated to reach USD XX billion by 2030, registering a CAGR of XX% from 2020 to 2030. The increase in the number of accidents caused by the driver's exceeding the speed limit or the loss of control over the vehicle is further expected to propel the growth of the automotive brake friction market in the coming years. Technological developments such as electronic braking system (EBS), advanced brake system (ABS), and regenerative braking to boost the braking system are expected to offer the automotive brake friction market promising opportunities over the forecast period. Increased vehicle production in recent years is also expected to drive the market for car brake friction during the forecast period.
Source: Fatpos Global
Global Automotive OEM Brake Friction Material Market is segmented based on product type, application, and region.
By Product Type (in %), Automotive OEM Brake Friction Material Market, 2019
The brake pad product type segment is anticipated to register XX% of the market share during the forecasted period.
By product type, the market can be segmented into Brake pads, brake shoes, and others.
Increasing vehicle sales together with the availability of lightweight and advanced friction materials will increase the demand for automotive brake pads. The friction between wheels and brake pads increases temperature and could affect the functioning of the brake system. Advanced materials including non-asbestos organic composites and ceramics will improve the efficiency of the brake pad over a broad range of temperatures. Also, low noise characteristics and a stable friction coefficient enhance vehicle performance and thus increase the product type market segment.
By Application (in %), Automotive OEM Brake Friction Material Market, 2019
The passenger cars segment accounted for XX% of the nation’s volume in 2019
The application segment can be classified into passenger cars and commercial vehicles. The passenger car segment dominated the market due to the high demand for passenger cars and the emergence of new auto-manufacturers in the world.
Source: Fatpos Global
Increased vehicle production in recent years is expected to drive the market for car brake friction during the forecast period. The increase in the number of accidents caused by the driver's exceeding the speed limit or the loss of control over the vehicle is further expected to propel the growth of the automotive brake friction market in the coming years. Technological developments such as electronic braking system (EBS), advanced brake system (ABS), and regenerative braking to boost the braking system are expected to offer the automotive brake friction market promising opportunities over the forecast period. Furthermore, an increase in efforts to electrify vehicles is expected to provide lucrative opportunities for the production of light-weight vehicle brake friction products. This is expected to drive the growth of the automotive friction brake market further during the forecast period.
Short lifespan of brake friction material to hinder the market growth
In certain types of braking systems, brakes are primarily applied to minimize impact in the event of a collision. However, it is not possible to avoid a collision altogether several times. This is expected to impede the growth of the demand for automobile brake friction during the forecast period. The average lifetime of brake friction products such as brake shoes, brake pads, or brake liners is very short, and due to wear and tear they need to be replaced periodically. This is also expected to hamper the growth of the demand for automobile brake friction during the forecast period.
In terms of value and volume, APAC accounted for XX% of total market volume share in 2020
Owing to the growing vehicle production and the strong presence of key vehicle manufacturers in countries such as China, Japan, and South Korea, Asia Pacific is expected to dominate the automotive brake friction market during the forecast period. The amount of favorable government-sponsored initiatives coupled with strong investment in the car industry also favors the regional market. The urgent need to curb the growing number of road accidents between governing agencies, as well as customers, also favors market growth. The growing penetration of technology with the high prominence of disc brakes also contributes to market development.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
Global Automotive OEM Brake Friction Material Market is further segmented by region into:
Global pandemic COVID-19 has become global stress, not just for human lives, but also for industries across different industry verticals. The COVID-19 disease has infected several million people globally, with an increasing number of active cases daily, the duration of the pandemic is still difficult to predict. In the space of only a few months, there has been a major decrease in vehicle sales, leading to shutdowns across regions as well as volatility in oil prices. Renowned car OEMs is pursuing various strategies to minimize the pandemic's detrimental effect on their companies by reviewing their dealerships to restore services. In the automotive sector, the short-term effect of COVID-19 has led to the shutdown of assembly plants in the United States, manufacturing interruptions across Europe, and cessation of exports of Chinese parts, in the face of the lockdown situation. On the bright side, the automotive industry will remain strong until a COVID-19 breakthrough is achieved, thanks to ongoing attempts by leading companies to curb sales losses through the implementation of turnaround strategies such as fusions and acquisitions and more. Despite the major impact the novel coronavirus has on the automotive industry, online vehicle sales may emerge as one of the growth boosters in the market for the fuel pump.
Automotive OEM Brake Friction Material Market: Competitive landscape
New technological advancements in the brake friction technology, as well as large production output of the product by key players, are likely to increase the market growth of the automotive rear-view camera. Moreover, the growing security and safety concerns among individuals and New Car Assessment Programs launched by companies around the globe are other factors that are fueling the market of automotive OEM Brake Friction Material Market.
Automotive OEM Brake Friction Material Market: Key players
Global Automotive OEM Brake Friction Material Market report also contains analysis on:
Automotive OEM Brake Friction Material Market segments: -
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