Automotive OEM Brake Friction Parts Market Analysis: Its CAGR, Market Segmentation and Global Industry Overview
Automotive OEM Brake Friction Parts Introduction
The Global Market Overview of "Automotive OEM Brake Friction Parts Market" offers a unique insight into key market trends shaping the industry world-wide and in the largest markets. Written by some of our most experienced analysts, the Global Industrial Reports are designed to provide key industry performance trends, demand drivers, trade, leading companies and future trends. The Automotive OEM Brake Friction Parts market is expected to grow annually by 11.9% (CAGR 2024 - 2031).
Automotive OEM brake friction parts refer to the original equipment manufacturer brake components that are designed and made specifically for a particular vehicle model. These parts play a crucial role in ensuring safe and efficient braking performance. The purpose of OEM brake friction parts is to provide superior quality, reliability, and compatibility with the vehicle's braking system.
The advantages of using OEM brake friction parts include better fitment, higher quality materials, and longer-lasting performance compared to aftermarket alternatives. Additionally, OEM parts are usually backed by warranties, making them a more reliable choice for vehicle owners. These factors can positively impact the Automotive OEM Brake Friction Parts Market by increasing consumer trust and demand for genuine OEM products, leading to potential growth and expansion in the market.
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Market Trends in the Automotive OEM Brake Friction Parts Market
- Adoption of electric vehicles: As the automotive industry shifts towards electric vehicles, there is a growing demand for brake friction parts that can withstand the unique braking requirements of these vehicles.
- Integration of advanced materials: OEMs are increasingly incorporating advanced materials like carbon ceramic composites and carbon fibers into brake friction parts to improve performance and durability.
- Increasing focus on sustainability: With growing consumer awareness about environmental impact, there is a trend towards using sustainable materials and manufacturing processes in the production of brake friction parts.
- Emphasis on safety features: OEMs are developing brake friction parts with advanced safety features like anti-lock braking systems and electronic stability control to enhance overall vehicle safety.
- Industry disruptions from digitalization: The automotive industry is experiencing disruptions from digitalization, leading to the development of smart brake systems that can optimize braking performance in real-time.
Market Segmentation
The Automotive OEM Brake Friction Parts Market Analysis by types is segmented into:
- Brake Pads
- Brake Shoes
- Other
Automotive OEM brake friction parts include brake pads, brake shoes, and other components. Brake pads are used in disc brake systems, while brake shoes are used in drum brake systems. These components play a crucial role in ensuring safe and efficient braking performance in vehicles. The demand for automotive OEM brake friction parts is boosted by factors such as increasing vehicle production, growing focus on passenger safety, and advancements in technology to improve braking systems, thereby driving growth in the market.
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The Automotive OEM Brake Friction Parts Market Industry Research by Application is segmented into:
- Passenger Car
- Commercial Vehicle
Automotive OEM Brake Friction Parts are essential components used in passenger cars and commercial vehicles to effectively stop the vehicle when the brakes are applied. These parts include brake pads, brake shoes, and brake rotors that create the necessary friction to slow down or stop the vehicle. The fastest growing application segment in terms of revenue is passenger cars, as the demand for high-quality brake components in luxury and performance vehicles continues to rise. Commercial vehicles also maintain a significant market share due to the constant wear and tear on brakes from frequent stops and heavy loads.
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Geographical Spread and Market Dynamics of the Automotive OEM Brake Friction Parts Market
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
The Automotive OEM Brake Friction Parts market in North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa is driven by increasing vehicle production and demand for advanced safety features. The key players in this market include Robert Bosch, Aisin Seiki, Akebono Brake Industry, Continental, Delphi Automotive, Dongying Xinyi Automobile Fitting, Federal-Mogul Motorparts, Fras Le, Japan Brake Industrial, Nan Hoang Traffic Instrument, Nisshinbo Holdings, TMD Friction Holdings, Tenneco (Federal-Mogul), ZF, and SGL Group. The market is expected to witness growth due to factors such as technological advancements, stringent regulations on vehicle safety, and growing consumer awareness about the importance of high-quality brake friction parts. Additionally, the increasing adoption of electric vehicles and autonomous driving technology is also expected to create new opportunities in the market.
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Automotive OEM Brake Friction Parts Market Growth Prospects and Market Forecast
The expected CAGR for the Automotive OEM Brake Friction Parts Market during the forecasted period is estimated to be around 4-6%. This growth will be primarily driven by innovations in materials and technology, such as the development of advanced ceramics and carbon fiber composites for brake pads and discs. Additionally, the increasing demand for electric vehicles and autonomous driving systems is expected to boost the market growth as these vehicles require high-performance brake systems.
To increase the growth prospects of the Automotive OEM Brake Friction Parts Market, companies can deploy innovative strategies such as focusing on lightweight and eco-friendly materials, investing in R&D for advanced braking technologies, and collaborating with OEMs to develop customized solutions. Furthermore, trends such as the rise of electric vehicles, stringent regulations on vehicle emissions, and the growing emphasis on vehicle safety are expected to drive the demand for high-performance brake friction parts, creating opportunities for market expansion. By capitalizing on these trends and deploying innovative strategies, the Automotive OEM Brake Friction Parts Market can achieve higher growth rates and maintain a competitive edge in the market.
Automotive OEM Brake Friction Parts Market: Competitive Intelligence
- Robert Bosch
- Aisin Seiki
- Akebono Brake Industry
- Continental
- Delphi Automotive
- Dongying Xinyi Automobile Fitting
- Federal-Mogul Motorparts
- Fras Le
- Japan Brake Industrial
- Nan Hoang Traffic Instrument
- Nisshinbo Holdings
- TMD Friction Holdings
- Tenneco(Federal-Mogul)
- ZF
- SGL Group
- Robert Bosch is a leading player in the automotive OEM brake friction parts market, known for its innovative products and high-quality standards. The company has a strong global presence and a diversified product portfolio.
- Aisin Seiki is another key player in the market, known for its advanced brake technologies and strong customer relationships. The company focuses on developing sustainable solutions for the automotive industry.
- Akebono Brake Industry has a long history of providing high-performance brake friction parts to automotive OEMs. The company emphasizes innovation and customer satisfaction in its business strategy.
- Continental is a global leader in automotive OEM brake friction parts, offering a wide range of products for various vehicle applications. The company's market strategies focus on technological advancements and sustainability.
- Delphi Automotive is a prominent player in the market, known for its cutting-edge brake friction solutions and strong industry partnerships. The company's focus on research and development drives its market growth prospects.
- Tenneco (Federal-Mogul) reported a sales revenue of $ billion in 2020.
- ZF reported a sales revenue of $36.5 billion in 2020.
- Nisshinbo Holdings reported a sales revenue of $3.89 billion in 2020.
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