Enjoy complimentary customisation on priority with our Enterprise License!
The friction products market share is expected to increase by USD 9.25 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.02%.
This friction products market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers friction products market segmentation by product (dry friction materials and wet friction materials), geography (APAC, Europe, North America, Middle East and Africa, and South America), and end-user (automotive, industrial, aerospace, and others). The friction products market report also offers information on several market vendors, including ABS Friction Inc., Aisin Corp., Akebono Brake Industry Co. Ltd., ANAND Group, ASK Automotive Pvt. Ltd., Brembo SpA, BREMSKERL REIBBELAGWERKE Emmerling GmbH, and Co. KG, Carlisle Companies Inc., Freeman Automotive UK Ltd., General Metals Powder Co. LLC, Hindustan Composites Ltd., Honeywell International Inc., Icer Brakes SA, ITT Inc., Knorr Bremse AG, LUMAG Sp. z o.o., Miba AG, Nisshinbo Holdings Inc., Robert Bosch GmbH, and Tenneco Inc. among others.
Download Report Sample to Unlock the Friction Products market Size for the Forecast Period and Other Important Statistics
Based on our research output, there has been a neutral impact on the market growth during and post-COVID-19 era. The increasing procurement of new aircraft is notably driving the friction products market growth, although factors such as frequent vehicle recall due to brake-related issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the friction products market industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Friction Products Market Driver
Increasing procurement of new aircraft is one of the major drivers impacting the friction products market growth. Major airline companies are planning to expand their fleet capacity because of the increasing air passenger traffic. This was attributed to the airline's plans to offer distinguished services to its customers and transform its brand image from that of an LCC into a full-fledged carrier. Such fleet upgrade plans have increased the number of net orders for the famed models of leading commercial aircraft manufacturers. Thus, the rising procurement of new commercial aircraft has increased the demand for friction products used in these commercial aircraft. Therefore, the rising demand for new aircraft is expected to support the growth of the global friction products market during the forecast period.
Key Friction Products Market Trend
The shift toward lightweight braking materials in the automotive industry is one of the major trends influencing the friction products market growth. Vehicular traffic pollution is mainly attributed to the emissions of exhaust gases. However, now wear-out of disc brake materials is also a major factor for vehicular emissions. Indeed, tires, brakes, and asphalt are also major sources of particulate matter from on-road traffic. Therefore, most governments around the globe are encouraging vendors and end-users to copper-free, friction material. Vendors are constantly focusing on developing copper-free friction products and are launching application-specific products to fulfill the stringent vehicle emission norms. For instance, ZF Friedrichshafen AG's ZF Aftermarket segment released the TRW Ultra and TRW Pro, two new brake pad product lines. Both these product lines are made of 100% copper-free formulations, which is expected to meet the copper-free legislation in California, US. Such developments are expected to increase replacement demand as well as the new sales of friction products in the automotive industry during the forecast period.
Key Friction Products Market Challenge
Frequent vehicle recalls due to brake-related issues are one of the major challenges impeding the friction products market growth. In June 2022, Mercedes-Benz recalled more than 292,000 vehicles due to issues related to braking systems. The models included in the recall were Mercedes-Benz 2006-2012 ML-Class, GL-Class, and R-Class vehicles. The company reported the reason for the recall as the likelihood of loose brake pedals in these models, which could have made it difficult for them to have enough braking force in time. The company recalled the vehicles as many of the owners of the affected vehicles witnessed smoke coming out of the rear wheels due to the brake pads touching the rotors. Such recalls related to brake pads and their assemblies have increased in the past couple of years. Hence, the increase in the number of such occurrences poses a challenge to the growth of the friction products market in the automotive industry, as they not only raise the risks of safety issues but also lead to cost liabilities.
This friction products market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global friction products market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the friction products market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the friction products market encompasses successful business strategies deployed by the key vendors. The friction products market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The friction products market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the friction products market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
46% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for friction products in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Factors such as the high use of automobiles and the increasing orders for new-generation aircraft will facilitate the friction products market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
Automotive manufacturing in most countries witnessed a cyclic production since the onset of the COVID-19 pandemic in 2020. In 2020 and 2021, the rising number of COVID-19 cases and the implementation of lockdowns for a specific period drastically impacted the manufacturing sector. Such measures impacted manufacturing activities and investments in manufacturing plants in 2020 and early 2021.
To gain further insights on the market contribution of various segments Request a PDF Sample
The friction products market share growth in the dry friction materials segment will be significant during the forecast period. The growth of the global friction products market in the automotive industry is attributed to the stringent government regulations that promote safe driving. Vehicle manufacturers must ensure the use of certified brake friction materials, which are free from metals that are harmful to the environment. In terms of geography, APAC will hold the major share throughout the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the friction products market size and actionable market insights on the post-COVID-19 impact on each segment.
Automotive Brake Friction Materials - The materials market share is expected to increase by USD 1.20 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2.93%.
Friction Welding Machine- The market share is expected to increase by USD 250.51 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.93%.
Friction Stir Welding Equipment- The market share is expected to increase by USD 989.95 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 9.98%.
Friction Products Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.02% |
Market growth 2022-2026 |
$ 9.25 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.56 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 46% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABS Friction Inc., Aisin Corp., Akebono Brake Industry Co. Ltd., ANAND Group, ASK Automotive Pvt. Ltd., Brembo SpA, BREMSKERL REIBBELAGWERKE Emmerling GmbH, and Co. KG, Carlisle Companies Inc., Freeman Automotive UK Ltd., General Metals Powder Co. LLC, Hindustan Composites Ltd., Honeywell International Inc., Icer Brakes SA, ITT Inc., Knorr Bremse AG, LUMAG Sp. z o.o., Miba AG, Nisshinbo Holdings Inc., Robert Bosch GmbH, and Tenneco Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.