Amid the COVID-19 crisis, the global market for Automotive Aftermarket Brake Friction Parts estimated at US$3.4 Billion in the year 2020, is projected to reach a revised size of US$3.7 Billion by 2027, growing at a CAGR of 1% over the analysis period 2020-2027. Brake Pads, one of the segments analyzed in the report, is projected to record a 1.1% CAGR and reach US$3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Brake Shoes segment is readjusted to a revised 0.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $926.9 Million, While China is Forecast to Grow at 2.2% CAGR
The Automotive Aftermarket Brake Friction Parts market in the U.S. is estimated at US$926.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$676.5 Million by the year 2027 trailing a CAGR of 2.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at -0.2% and 0.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.1% CAGR.
Other Types Segment to Record 0.4% CAGR
In the global Other Types segment, USA, Canada, Japan, China and Europe will drive the 0.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$204.3 Million in the year 2020 will reach a projected size of US$206.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$474.1 Million by the year 2027, while Latin America will expand at a 0.9% CAGR through the analysis period. We bring years of research experience to this 16th edition of our report. The 348-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- ABS Friction Inc.
- Advics Co. Ltd.
- Akebono Brake Industry Co. Ltd.
- Continental AG
- Delphi Technologies
- Federal-Mogul Motorparts LLC
- Fras-Le S.A.
- Japan Brake Industrial Co. Ltd.
- Nan Hoang Traffic Instrument Co. Ltd.
- Nisshinbo Brake Inc.
- Nisshinbo Holdings Inc.
- Robert Bosch GmbH
- TMD Friction Holdings GmbH
- ZF Friedrichshafen AG
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
Brake Friction Parts - A Rudimentary Overview
Recent Market Activity
Aftermarket - A Key Revenue Contributor to Brake Friction Parts Market
Northbound Trajectory in Automotive Aftermarket Industry Creates Conducive Environment
A Snapshot of Automobile Parts & Components Intended for OEM & Aftermarket Applications
Steady Growth Projected Over the Coming Years
Developed Regions - Primary Revenue Contributors
Developing Countries Emerge as Hot Spots for Future Growth
Key Issues & Challenges Hampering Industry Prospects: A Review
Customers' Casual Attitude Towards Replacement of Parts
Prevalence of Counterfeit Components
Sustained Emphasis on Equipping Vehicles with Durable OEM Parts & Components
Eddy Current Brake Systems
Global Competitor Market Shares
Automotive Aftermarket Brake Friction Parts Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
2. FOCUS ON SELECT PLAYERS
ABS Friction Inc. (Canada)
ADVICS CO., LTD. (Japan)
Akebono Brake Industry Co., Ltd. (Japan)
Continental AG (Germany)
Delphi Technologies (UK)
Dongying Xinyi Automobile Fitting Co. Ltd. (China)
Federal-Mogul Motorparts LLC (USA)
Fras-Le S.A. (Brazil)
Japan Brake Industrial Co., Ltd. (Japan)
Nan Hoang Traffic Instrument Co., Ltd (Taiwan)
Nisshinbo Holdings Inc. (Japan)
Nisshinbo Brake Inc. (Japan)
TMD Friction Holdings GmbH (Germany)
Robert Bosch GmbH (Germany)
ZF Friedrichshafen AG (Germany)
3. MARKET TRENDS & DRIVERS
Large Global Base of Vehicle Fleet Offers Potential for Replacements
Global Vehicles in Operation - An Overview
Rising Average Vehicle Life Drive Demand for Aftermarket Brake Friction Parts
Outsourcing - A Key Manufacturer Cost Rationalization Strategy
Remanufactured Brake Friction Parts Grow in Prominence
Disc Brakes Rise Above Drum Brakes - Augurs Well for Brake Pads Market
Technology Innovations and Product Improvements Widen Scope and Span
Growing Integration of Electronic Assistance with Disc & Drum Brakes
Sealed Brakes: The Future of Wet Friction Brakes
Manufacturers Focus on Customized Brake Pads
Product Materials See Drastic Changes Over the Years
Focus on Environment Drives Demand Non-Toxic Materials for Brake Friction Parts
Regulatory Guidelines Play a Role in Choice of Material for Brake Friction Products
Ceramic Brake Pads Continue to Grow in Prominence
Manufacturers Disguise Organic Brake Pads as Ceramic Variants
Semi-Metallic Brake Market Pads Hold Ground
Carbon-Carbon Composite to Gain Popularity for Reinforced Automobile Brake Friction parts
Asbestos: The Iconic Friction Material on Verge of Complete Phase Out
Emphasis on Curbing Road Accidents Widens Demand
Favorable Socio-Economic Trends Favoring Automotive Industry Generate Parallel Opportunities for Aftermarket Brake Friction Parts
Evolving Transportation Needs of Ballooning Urban Population
Growing Financial Strength of Middle Class Consumer Segment
Stable Economic Scenario
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Automotive Aftermarket Brake Friction Parts Market Share (in %) by Company: 2020 & 2025
Market Facts & Figures
European Automotive Aftermarket Brake Friction Parts Market: Competitor Market Share Scenario (in %) for 2020 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 114