Report : South America 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)
Drum Brake Segment to Dominate South America Automotive Brake Friction Products Market during 2019–2028
According to a new market research study on “South America 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$ 362.93 million by 2028 from US$ 319.70 million in 2021. The market is estimated to grow at a CAGR of 1.8% from 2021 to 2028. Rising rate of vehicle production is the major factor driving the growth of the South America 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 South America automotive brake friction products market. The report provides trends prevailing in the South America automotive brake friction products market along with the drivers and restraints pertaining to the market growth.
The South America automotive brake friction products market is segmented into disc materials, product type, vehicle type, and country. On the basis of disc materials, the South America automotive brake friction products market is divided into metallic, ceramic, and composite. In 2020, the metallic segment held the largest share South America 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 drum brake segment held the largest share South America automotive brake friction products market. On the basis of vehicle type, the South America automotive brake friction products market is bifurcated into passenger vehicles and commercial vehicles. In 2020, the passenger vehicles segment held the largest share South America automotive brake friction products market. Similarly, based on country, the market is fragmented into Brazil, Argentina, and the rest of SAM. Brazil 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; MIBA AG; and Nisshinbo Holdings Inc are among the leading companies in the South America 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, Carlisle Brake & Fiction is excited to announce the launch of the company’s next generation of fiction materials.