
Europe Automotive Brake Friction Products Market
No. of Pages: 143 | Report Code: BMIRE00025518 | Category: Automotive and Transportation
No. of Pages: 143 | Report Code: BMIRE00025518 | Category: Automotive and Transportation
The automotive industry is expanding due to increased foreign direct investment (FDI). For instance, in July 2021, Waaree Energy Storage System collaborated with Zypp Electric to provide lithium batteries. The COVID-19 pandemic also prompted governments to reconsider their investment facilitation and promotion policies, which could help boost FDI in the coming years. However, the onset of the COVID-19 outbreak has disrupted many countries’ investments in automotive sectors; thus, governments primarily focus on increasing the number of new infrastructure projects while completing past projects. As a result, this will increase the demand for commercial vehicles, resulting in rising construction activities, which is expected to positively impact the automotive brake friction products market. Further, intraregional connections, environmental issues, and the green economy are also receiving more attention.
When compared to the global average, the COVID-19 pandemic had more severe consequences in the EU (European Union), with inward FDI falling by 71% from US$ 365.47 billion (€335 billion) in 2019 to US$ 107.71 billion in 2020, according to the annual report on the screening of foreign direct investments into the Union on November 23, 2021. The FDI inflow shows the recovery of various industries, further supporting the automotive brake friction products market growth. A decrease in COVID-19 cases, an increasing number of vaccinated citizens, and the upliftment of stringent governments’ regulations are expected to grow the economy in 2022. Brake systems, made of various brake friction products, are installed in every vehicle. Disc brake systems, for instance, have rotors and pads, whereas a drum brake has a brake shoe and a brake drum. The growing demand for comfort and convenience is increasing vehicle production. Furthermore, the rising population and improving economic conditions increase vehicle production in many countries across the region, boosting the brake friction product market. Further, increased consumer purchasing power, rising disposable income, increased demand for personal vehicles, and the growth of e-commerce are contributing to the increase in production. An increase in government mandates for vehicle safety features is aiding the market growth. Thus, these factors are driving the automotive brake friction products market growth.
Strategic insights for the Europe Automotive Brake Friction Products provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Automotive Brake Friction Products refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Europe Automotive Brake Friction Products Strategic Insights
Europe Automotive Brake Friction Products Report Scope
Report Attribute
Details
Market size in 2021
US$ 2,133.85 Million
Market Size by 2028
US$ 2,596.93 Million
Global CAGR (2021 - 2028)
2.8%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Disc Materials
By Product Type
By Vehicle Type
Regions and Countries Covered
Europe
Market leaders and key company profiles
Europe Automotive Brake Friction Products Regional Insights
The Europe automotive brake friction products market is segmented into disc materials, product type, vehicle type, and country. Based on disc materials, the Europe automotive brake friction products market is segmented into metallic, ceramic, and composite. In 2020, the composite segment held the largest market share. 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 market share. Based on vehicle type, the market is bifurcated into passenger vehicles and commercial vehicles. In 2020, the passenger vehicles segment held a larger market share. Similarly, based on country, the Europe automotive brake friction products market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Further, Germany 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 operating in the Europe automotive brake friction products market.
The Europe Automotive Brake Friction Products Market is valued at US$ 2,133.85 Million in 2021, it is projected to reach US$ 2,596.93 Million by 2028.
As per our report Europe Automotive Brake Friction Products Market, the market size is valued at US$ 2,133.85 Million in 2021, projecting it to reach US$ 2,596.93 Million by 2028. This translates to a CAGR of approximately 2.8% during the forecast period.
The Europe Automotive Brake Friction Products Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Brake Friction Products Market report:
The Europe Automotive Brake Friction Products Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Brake Friction Products Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Brake Friction Products Market value chain can benefit from the information contained in a comprehensive market report.