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

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 AGDelphi TechnologiesFederal-Mogul Motorparts LLCFras-Le S.A.Japan Brake Industrial Co. Ltd.Nan Hoang Traffic Instrument Co. Ltd.Nisshinbo Brake Inc.Nisshinbo Holdings Inc.Robert Bosch GmbHTMD Friction Holdings GmbHZF 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 sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and research platformComplimentary updates for one yearAccess 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 EconomyRussia-Ukraine War, the Primary Culprit Responsible for the HardshipsAlthough Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should ContinueHere’s What’s Causing Inflationary Pressures in the Global MarketShaken 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 2024Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024Global 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 2024Recession 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 2024Competitive ScenarioAutomotive 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 IndustrySnapshot of Automobile Parts & Components Intended for OEM & Aftermarket ApplicationsAftermarket Brake Shoes & Brake Pads Market: A ReviewAftermarket: Key Revenue Contributor to Brake Friction Parts MarketGlobal Automotive Aftermarket Brake Friction Parts Market Tightens Grip on Road to a Pothole-Free JourneyCOVID-19 Pandemic: A Speed-Breaker for Automotive Aftermarket Brake Friction Parts MarketSpeak-Freak Segments of Automotive Aftermarket Brake Friction Parts MarketTrends Indicating Green Light Ahead for Automotive Aftermarket Brake Friction Parts MarketFerrari-Like Drivers Offering New Oil to Automotive Aftermarket Brake Friction Parts MarketRed Flags for Global Automotive Aftermarket Brake Friction Parts MarketNorth America Rules while Asia-Pacific Vrooms Ahead on Automotive Aftermarket Brake Friction Parts MarketAsia-Pacific Embarks on High-Speed TrajectoryFriction and Friction Products for AutomotiveBrake SystemBrake Friction ProductsMajor Brake Friction Material Advantages and Disadvantages – Ceramic, Semi-Metallic, Metallic and Non-asbestos Organic (NAO) MaterialFriction MaterialsClassification Based on the State of Friction Contact Surfaces of ApplicationSelect StandardsRecent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

Automobile Production Dynamics Influences Demand Patterns of Automotive Brakes MarketWorld Automobile Production in Million Units: 2008-2022Car Brakes used in Modern AutomobilesNearshoring Trend Positions Brazil & Mexico as a Strong Production Centers for CVsAn 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 & 2026Pandemic Impact on the Automotive Industry & What’s the New Normal?Car Production YoY % Growth in 2020 Across Major Regional MarketsGlobal Automotive Market Reset & Trajectory – Growth Outlook (In %) For Years 2019 Through 2025Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022Strong Outlook for Automotive Aftermarket to Benefit Demand for Automotive BrakesRobust Aftermarket Expands the Addressable Market Opportunity for Automotive Brakes: Global Opportunity for Automotive Aftermarket (In US$ Billion) for Years 2023, 2025 and 2027Product Replacement Cycles: Key Factor Influencing Demand for Aftermarket PartsExpanding Vehicle PARC & Longer Service Life of Vehicles Drive Opportunities in the AftermarketAging Vehicle Fleet Drives Opportunities for Automotive Brakes in the AftermarketWith 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 2022Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022EAverage Age of Cars in the EU (2022E): Breakdown by Select CountryElectric Vehicles Rising Demand Influence the Brake MarketElectronic Braking Breakthroughs Push EV Safety & Autonomous Driving ForwardRising Popularity of Electric and Hybrid Vehicles Fuel Demand for Regenerative BrakingNeed for Reducing Automobile Weight, Improve Fuel Efficiency, and Comply with Evolving Tailpipe Emission Regulations Drive Light Weight Material in BrakesPost 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 & 2026Bringing Down Environmental Impacts and Improving SustainabilityHow Advances in Carbon Brakes Transformed Formula 1 LandscapeRemanufactured Brake Friction Parts Grow in ProminenceEnvironmental 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 MaterialEnvironmental Impact of Automotive Component Production: A Comparison of Waste Generated (in Kg) by Type of Manufacturing Activity – Remanufacturing and New Product ManufacturingValue 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 ProductMaterial 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 ManufacturingEnergy 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 MarketDisc Brakes Rise Above Drum Brakes: Augurs Well for Brake Pads MarketImportance of Brake Pad in Efficient ADAS Operation, Accident PreventionTechnology Developments to Drive GrowthAdvancements in the Brake TechnologyAutomotive Parts Manufacturing Gain as Automakers Strengthen R&D SpendingAutomotive R&D Spending in US$ Billion for 2020, 2025, and 2030Automotive R&D Spending Breakdown by Segment: 2025From Old School Options to Power Brakes: Car Brakes at Zenith of Automotive SafetyCar Brakes: The Evolutionary TimelineBraking Trends in the Automotive MarketFuture of Brakes – Brake Systems of the FutureDemographic Trends Create Fertile Environment for Long-Term Growth of Automobile Market: Expanding Global PopulationWorld Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, 2050Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050Urban SprawlWorld Urban Population in Millions: 1950-2050Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050Growing Affluence of Middle Class PopulationGlobal Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030Large Base of MillennialsRising Living StandardsEver Rising Incidences Pertaining to Road Accidents Propels Demand for High-End Automotive Braking ComponentsAn Insight into the Rapidly Growing Online Automotive Aftermarket IndustryKey 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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