Friction Products Market to Grow by USD 8.68 Billion (2024-2028) as Aging Automotive Fleets Drive Revenue, with AI Redefining the Market Landscape- Technavio

NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Global Friction Products Market  size is estimated to grow by USD 8.68 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.69%  during the forecast period. Aging fleet of automobiles is driving market growth, with a trend towards development of high-performance adaptive braking systems. However, increasing availability of counterfeit products poses a challenge - Key market players include ABS Friction Inc., AISIN CORP., Akebono Brake Industry Co. Ltd., ANAND Group, ASK Automotive Ltd., Brembo Spa, BREMSKERL REIBBELAGWERKE Emmerling GmbH and Co. KG, Carlisle Companies Inc., EBC Brakes, 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..

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The global friction products market is experiencing significant growth due to advancements in the automotive industry, particularly in braking systems. From traditional mechanical, hydraulic, and electrohydraulic systems, braking technology has evolved to include brake-by-wire systems. Leading automakers, such as Mercedes-AMG, are developing energy-efficient braking technologies, incorporating features like adaptive braking systems and hydraulic dual-circuit braking systems controlled electronically. These innovations include double-floating brake calipers and sliding frame-type calipers, which reduce heat transfer and improve performance in various weather conditions. The integration of advanced driver-assistance systems (ADAS) and wet weather features further enhances safety and efficiency. Mercedes-Benz's adoption of these technologies in its S-Class models underscores the market's potential growth, driven by the increasing demand for high-performance and energy-efficient braking systems. 

The friction products market is experiencing significant growth in various sectors, including passenger and commercial vehicles. Lightweight friction products are in high demand for clutches and gears in vehicles, enhancing power transfer and improving fuel efficiency. The trend towards advanced braking systems in passenger trains and air transport is driving the use of heat-resistant sintered metal and ceramic materials. In racing applications, high-performance friction discs are essential. The manufacturing activities of trucks and buses also rely on industrial clutches and braking components. Robots are increasingly used in manufacturing, leading to increased production and airplane deliveries. Urban sprawl and traffic conditions have boosted demand for public transportation, including metro rail systems and electric vehicles. Wear and tear on braking components in railway networks and traffic jams are key challenges, driving innovation in friction materials and manufacturing technologies. GPS data and commuting patterns are also influencing market trends. 

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•         The friction products market, specifically the braking systems segment, experiences growth due to increasing demand. However, this growth is threatened by the proliferation of counterfeit friction products, particularly in developing regions. Counterfeit manufacturers use low-quality raw materials, resulting in less durable products. E-commerce facilitates distribution and sales of these counterfeits, making it challenging for customers to differentiate them from genuine products. Seizures of counterfeit friction products by authorities occur frequently worldwide. The affordability of counterfeit friction products attracts consumers, negatively impacting market vendors' sales, market shares, and reputations. To combat this, global vendors are lowering prices, reducing profit margins. Counterfeit manufacturers save on production and transportation costs, keeping their products less expensive. Established vendors aim to penetrate developing markets but face competition from counterfeit sellers. To distinguish their products, vendors introduce specialized packaging, expected to decrease counterfeit sales and aid customers in product identification.

•         The Friction Products Market faces several challenges in various industries. In transportation, ensuring timely bus deliveries and managing traffic conditions in urban areas are key issues. Advanced technologies like robots and high-speed railway networks require high-performance braking systems for safe operations. Manufacturing activities in sectors like automobiles and aerospace demand friction materials for power transfer in industrial clutches and braking components. Airplane deliveries and electric vehicles necessitate the use of asbestos-free materials for friction discs and brake linings. Wear and tear in public transportation systems, including metro rail systems and urban sprawl, necessitate regular maintenance and replacement of friction materials. Modern brake systems in vehicles and spacecraft require digitalization, robotic automation, and artificial intelligence for efficient manufacturing. Construction activities and traffic jams also impact the market, with GPS data and congestion levels influencing commuting patterns. Overall, the Friction Products Market must adapt to these challenges while ensuring high-quality, high-performance, and sustainable friction materials.

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This friction products market report extensively covers market segmentation by

1. Product 
• 1.1 Automotive
• 1.2 Industrial
• 1.3 Aerospace
• 1.4 Others
2. Geography 
• 2.1 APAC
• 2.2 Europe
• 2.3 North America
• 2.4 Middle East and Africa
• 2.5 South America

1.1 Automotive-  The friction products market refers to the industry that manufactures and distributes materials designed to reduce or create friction between two surfaces. These products include bearings, bushings, gaskets, and seals. Companies in this market focus on research and development to create high-quality, durable friction solutions for various industries such as automotive, aerospace, and manufacturing. They prioritize customer satisfaction and cost-effective solutions to meet the demands of their clients.

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The friction products market encompasses a wide range of materials and applications, including brakes for automobiles, modern brake systems for spacecraft, and braking systems for various types of vehicles such as passenger trains, freight trains, and high-speed railway networks. Friction materials, such as brake linings and brake pads, are essential components in these systems, providing the necessary friction for power transfer and safe stopping. Traditional friction materials often contained asbestos, but the industry has shifted towards asbestos-free alternatives, such as organic fibers and sintered metals. Friction discs and industrial clutches are also crucial components in the manufacturing of gears and transmission systems. The demand for high-performance friction products continues to grow due to urban sprawl, increased public transportation usage, and challenging traffic conditions. Manufacturing technologies and innovations in friction materials are constantly evolving to meet the demands of various industries and applications.

The Friction Products Market encompasses the production and supply of friction materials used in various industries, primarily in brakes and clutches. Modern brake systems are integral to automobiles, spacecraft, and transportation systems, utilizing friction materials like sintered metals and ceramics for heat resistance and high performance. Asbestos-free materials have replaced traditional asbestos in brake linings and pads due to health concerns. Digitalization, robotic automation, and artificial intelligence are transforming manufacturing activities, leading to advanced braking systems in passenger vehicles, commercial trucks, and buses. Urbanization and industrialization increase the demand for lightweight friction products in passenger trains, air transport, freight trains, and metro rail systems. Wear and tear, traffic conditions, and commuting patterns influence the market, with GPS data and congestion levels shaping future demand.

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation

• Product
• Automotive
• Industrial
• Aerospace
• Others
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Company Landscape

11 Company Analysis

12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Technavio