Report : Asia Pacific Automotive Brake Friction Products Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Disc Materials (Metallic, Ceramic, and Composite), Product Type (Brake Shoe, Brake Pad, Brake Liner, Brake Disc, and Drum Brake), and Vehicle Type (Passenger Vehicles and Commercial Vehicles)
Composite Segment to Dominate Asia Pacific Automotive Brake Friction Products Market during 2019–2028
According to a new market research study on “Asia Pacific Automotive Brake Friction Products Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Disc Materials, Product Type, and Vehicle Type,” is expected to reach US$ 7,985.53 million by 2028 from US$ 5,935.91 million in 2021. The market is estimated to grow at a CAGR of 4.3% from 2021 to 2028. Traffic congestion and evolving vehicle architecture is the major factor driving the growth of the Asia Pacific automotive brake friction products market. However, improving the life of brake friction products in order to influence demand for replacements may hinder the growth of Asia Pacific automotive brake friction products market. The report provides trends prevailing in the Asia Pacific automotive brake friction products market along with the drivers and restraints pertaining to the market growth.
The Asia Pacific automotive brake friction products market is segmented into disc materials, product type, vehicle type, and country. On the basis of disc materials, the Asia Pacific automotive brake friction products market is divided into metallic, ceramic, and composite. In 2020, the composite segment held the largest share Asia Pacific automotive brake friction products market. Based on product type, the market is segmented into brake shoe, brake pad, brake disc, brake liner and drum brake. In 2020, the brake liner segment held the largest share Asia Pacific automotive brake friction products market. On the basis of vehicle type, the Asia Pacific automotive brake friction products market is bifurcated into passenger vehicles and commercial vehicles. In 2020, the passenger vehicles segment held the largest share Asia Pacific automotive brake friction products market. Similarly, based on country, the market is fragmented into Australia, China, India, Japan, South Korea, and the rest of Asia Pacific. China contributed a substantial share in 2020.
AISIN SEIKI Co.Ltd.; AKEBONO BRAKE INDUSTRY CO., LTD; Bendix Spicer Foundation Brake LLC; BOSCH Auto Parts; Carlisle Brake Friction; Delphi Auto Part; Japan Brake Industrial Co. LTD; MIBA AG; and Nisshinbo Holdings Inc are among the leading companies in the Asia Pacific automotive brake friction products market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2022, Nisshinbo Established a Joint Venture with Continental AG in India. It increases the production volume of automobiles, motorcycles, and the demand for valve blocks, which are the main parts of EBS.