ID: MRFR/AM/6221-HCR | 100 Pages | Published By Sejal Akre on March 2023
The automotive brake linings are a type of breaking system employed in automobiles for enhancing vehicle safety.
The automotive brake linings market is projected to register a CAGR of 4.50% from 2022 to 2030. To avoid friction sparking or starting a fire, the material used to make car brake linings is heat resistant. The automotive brake linings market size is expected to reach approximately USD 4,068.5 Million by 2030. An automotive brake lining is a layer of frictional material that is adhered to the brake shoes. Automotive brake linings are applied over the brake shoe using high-temperature adhesives and are constructed from soft yet durable heat-resistant materials. Modern braking systems have been made possible by recent advances in technology. The use of automobile brake linings avoids the deterioration of other braking components. The demand from OEMs for innovative automobile brake linings has increased due to growing concerns about safety and security and the requirement for improved performance efficiency of braking systems. Additionally, there has been an increased demand for sophisticated brake systems to obtain better braking performance and a pleasant braking sensation. The demand for automotive brake linings in both the OEM and aftermarket is driven by increased vehicle production and vehicles on the road.
COVID-19 Impact Analysis
The COVID-19 outbreak's presence has impacted every aspect of the market's existing automotive supply chain system, particularly during the current forecast period. On a basis, the pandemic's second and third quarters greatly influenced the sales of new cars. The beginning of the fiscal year 2021 saw the continuation of the same pattern. In 2020, all vehicles, including HDV and LDV, saw a sharp fall in manufacturing.
Automotive Brake Linings Market Dynamics
The average number of kilometers traveled per vehicle has increased over time as passenger automobiles have been a popular mode of transportation. The need for automobile brake linings is fueled by the fact that more miles per vehicle are directly related to part wear and tear, which needs timely maintenance and repair. Heavy commercial vehicles like construction and agricultural machinery have increased demand for automobile brake linings. Automotive brake linings made without asbestos are more popular because they are long lasting and safe for the environment. The need for automotive brake linings for electric vehicles has also increased. The market for automotive brake linings is anticipated to experience considerable development prospects due to the rising demand for electric automobiles. Rapid urbanization and industrialization, rising disposable income, and rising population have all contributed to the automotive industry's notable expansion, which is expected to lead to an increase in demand for vehicle brake linings over the next years.
The average number of kilometers traveled per vehicle has increased over time as passenger automobiles have been a popular mode of transportation. The need for automobile brake linings is fueled by the fact that more miles per vehicle are directly related to part wear and tear, which needs timely maintenance and repair. Due to the rising concern for vehicle safety, automotive brake linings are important parts that occasionally need to be updated. Automotive brake linings are typically changed once a year or after 12,000 miles of driving. The automotive brake lining needs to be replaced after it has shrunk by 1/8 inch.
Employed sophisticated braking technologies include intricate electronic and mechanical system interconnections. The cost of installing braking systems on automobiles can be USD 50 per vehicle, according to the Transportation Research Board (TRB) and the National Academies of Sciences, Engineering, and Medicine. Technological advancements are also constraining the expansion of the market in braking technologies that reduce the usage of frictional materials. Players have also been concentrating on extending the life of friction goods to lower the need for replacement parts, which could eventually affect the demand for vehicle brake linings.
Automotive brake linings made without asbestos are more popular because they are long lasting and safe for the environment. Automotive brake linings are produced using various materials, including rubber, glass, and resins. Manufacturers are concentrating on developing high-temperature, dependable, and long-lasting brake linings due to the relatively fragmented nature of the industry. Automotive brake lining producers also sign long-term agreements with automakers to guarantee a steady supply and increase market dominance.
By Vehicle Type Insights
The automotive brake linings market segmentation, based on vehicle type, is passenger cars, light commercial vehicles, heavy commercial vehicles, and electric vehicles. The automotive brake linings market growth was prominently high under the passenger cars category in 2021 due to rising production & sales of passenger cars and the growing need for vehicle safety in passenger cars. The growing need for fuel-efficient vehicles is another factor that would help maintain the dominance of passenger cars over the forecast period.
By Material Type Insights
The automotive brake linings market segmentation, based on material type, is asbestos-based automotive brake linings and non-asbestos-based automotive brake linings. In 2021, the non-asbestos-based automotive brake linings accounted for the largest market share of the market. Brake linings that are non-asbestos organic (NAO) are constructed from glass, rubber, carbon, and kevlar materials. Moreover, high-temperature resins and filler components are used in non-asbestos organic brake linings. These linings wear out more quickly, produce more brake dust, and are softer than other lining kinds.
By Sales Channel Insights
Based on the sales channel, the market for automotive brake linings is divided into original equipment manufacturer (OEM) and aftermarket. The original equipment manufacturer (OEM) category dominated the market for automotive brake linings in 2021. The demand from OEMs for innovative automobile brake linings has increased due to growing concerns about safety and security and the requirement for improved performance efficiency of braking systems.
Global Automotive Brake Linings Market Share, by Region, 2021 (%)
Automotive Brake Linings Market Overview, By Region
By region, the automotive brake linings market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific will exhibit the highest CAGR during the forecast period.
North America dominated the market share in 2021 due to the demand for goods and services in this region being driven by nations like the US, Canada, and Mexico. Moreover, a higher per capita income and a rise in the need for fuel-efficient cars have increased market demand.
Asia-Pacific accounted for the fastest growth rate in the market in 2021. Densely populated nations like India, China, Japan, South Korea, Australia, and others drive this region's market demand. Moreover, this region is seeing the idea of rising investment go hand in hand with rising sales and production of autos. Strict government regulations are another aspect that increases market demand.
Automotive Brake Linings Market Competitive Landscape
The major key players employ a variety of strategies to maintain their market share in the market, including mergers and acquisitions, collaboration, setting up a new joint venture, forming a partnership, developing a new product line, innovation in the existing product, developing a special production method, and many others to increase their customer base in the untapped markets.
Prominent players in the automotive brake linings market research include Federal-Mogul Corporation, ASK Automotive Pvt. Ltd., Nisshinbo Holdings Inc., SGL Group, Miba AG, Akebono Brake Industries, Taiwan Brake Technology Corp., Brembo, Masu Brake Pads Pvt. Ltd., and Rane Brake Lining Limited, among others.
Scope of the Automotive Brake Linings Market Segmentation
By Vehicle Type Outlook
By Material Type Outlook
By Sales Channel Outlook
By Region Outlook
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
To identify and estimate the market size for the automotive brake linings market report segmented by vehicle type, material type, and sales channel by value (in US dollars). Also, to understand the consumption/ demand created by consumers in the automotive brake linings market forecast between 2022 and 2030
To identify and infer the drivers, restraints, opportunities, and challenges in the automotive brake linings market growth
To find out the factors which are affecting the automotive brake linings market size among consumers
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the company's financial health in the past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||2030: USD 4,068.5 Million|
|(CAGR)||4.50% CAGR (2022-2030)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Vehicle Type, Material Type, and Sales Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Federal-Mogul Corporation, ASK Automotive Pvt. Ltd., Nisshinbo Holdings Inc., SGL Group, Miba AG, Akebono Brake Industries, Taiwan Brake Technology Corp., Brembo, Masu Brake Pads Pvt. Ltd., and Rane Brake Lining Limited|
|Key Market Opportunities||Rising production and sale of commercial vehicles across the globe|
|Key Market Drivers||Rising demand for off-highway vehicles due to growing construction and mining activities|
The automotive brake linings market forecast period is 2022 - 2030
The market is expected to register a CAGR of 4.50% over the next 10 years, according to automotive brake linings market research.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
The market size is expected to be USD 4,068.5 Million by 2030.
Federal-Mogul Corporation, ASK Automotive Pvt. Ltd., Nisshinbo Holdings Inc., SGL Group, Miba AG, Akebono Brake Industries, Taiwan Brake Technology Corp., Brembo, Masu Brake Pads Pvt. Ltd., and Rane Brake Lining Limited are the major companies operating in the market.