The global automotive brake friction products market size is calculated at USD 10,950 million in 2024 and is expected to hit around USD 17,670 million by 2034, expanding at a CAGR of 4.9% from 2024 to 2034.
Automotive brake friction products are an integral segment of the automotive industry. These products are materials used in a vehicle’s braking system which generate friction for slowing down the car. They consist of brake pads which are made up of friction material and they directly contact the brake disc for creating the necessary stopping force providing the friction needed for braking.
The global rising demand for automotive is propelling the manufacturing of vehicles which require a brake system thereby contributing towards the market growth of this segment. Each car requires a distinct type of friction material for their brake system which creates the need for developing innovative and specific to the vehicle type of friction products. Moreover, the increase in manufacturing of vehicles in countries worldwide is contributing to their gross domestic product (GDP) stating the economic status of nations thereby fuelling the market growth of this segment.
The focus on developing lightweight materials, with cleaner and less emitting braking technologies and improved life with advanced breaking systems is anticipated to create lucrative growth opportunities for market players in the upcoming years.
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| Stats ID: | 7206 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
| Stats ID: | 7206 |
| Format: | Databook |
| Published: | December 2024 |
| Delivery: | Immediate |
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