Global Friction Materials Market, By Product (Lining, Pads, Blocks, Discs, Others), By Business Type (OEM, Aftersales), By Application (Brakes, Clutches, Industrial Brake & Transmission Systems), By End-User (Automotive, Railway, Construction, Aerospace & Marine, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Friction Materials Market
The Global Friction Materials Market is set to witness a significant period due to the increased demand of vehicles which has led to the market growth. This trend will raise the initial estimated value of USD 44.97 million in 2018 to an estimated value of USD 64.70 million by 2026, registering a CAGR of 4.65% in the forecast period of 2019-2026.
Market Definition: Global Friction Materials Market
Friction materials have also been known as brake or clutch materials. They are usually applied to halt or decrease the speed of a vehicle by the process of changing kinetic into thermal energy with the help of friction. The materials are present with a rough texture that help in reduction of stopping distance and time when the brakes are applied. The focus is also on weigh reduction of friction materials and brake.
- Increase in sales of vehicles has directly affected the demand for friction materials and is driving the market growth
- These friction materials are able to withstand high wear and tear along with high temperature, which is set to drive their market growth
- There has been a rising prevalence of fake brake materials which is impacting the market growth negatively
- The key players and manufacturers in the market are heavily employed in constant R&D, and innovation that is set to introduce non-friction material brakes. This is set to restraint the market growth
Segmentation: Global Friction Materials Market
- By Product
- By Business Type
- Original Equipment Manufacturers
- By Application
- Industrial Brake & Transmission Systems
- By End-User
- Aerospace & Marine
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Friction Materials Market
The global friction materials market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Friction Materials market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Friction Materials Market
Few of the major market competitors currently working in the friction materials market are AKEBONO BRAKE INDUSTRY CO. LTD., Federal-Mogul Motorparts LLC, Miba AG, Fras-le, Nisshinbo Holdings Inc., AISIN SEIKI Co. Ltd., ANAND Group, Carlisle Brake & Friction, Robert Bosch GmbH, ABS Friction, Knorr-Bremse AG, Brembo, BREMSKERL REIBBELAGWERKE Emmerling GmbH & CO. KG, ITT INC., General Aviation Manufacturers Association, ICER BRAKES, Japan Brake Industrial Co. Ltd., LUMAG GmbH, Trimat Limited, and ZF Friedrichshafen AG.
Research Methodology: Global Friction Materials Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis,