Driven by the growing popularity of ceramic-based brake friction parts, and increasing awareness about the use of environmentally safer products, the global automotive friction products aftermarkets is growing at a steady rate and expected to cross the $5.0 Billion mark by 2015. Currently, Brake Pads clearly dominate brake friction parts aftermarket in global and all major regional markets, except Asia Pacific. Disc brakes that use brake pads have been replacing conventional braking system of drum brakes comprising of brake shoes. Disc brakes are presently preferred in front axles of light vehicles and economy range passenger cars, while premium cars come with all wheel disc brakes.
Despite the prevailing global economy slowdown, coupled with the tumbling automobile industry in developed markets of North America and Western Europe, the overall Automotive Brake Friction Products aftermarket is growing at a steady pace. This owes to the growing number of car owners in emerging nations such as BRIC (Brazil, Russia, India, and China) that adds to the customer base for brake friction parts aftermarket. In addition, increasing life of automobiles due to postponement of new vehicle purchase plans by majority of customers in developed countries such as the US, is leading to need for frequent replacement of brake parts.
The United States is the largest market worldwide for automotive brake friction products, followed by Europe as the second largest regional market. Asia Pacific is expected to show double-digit growth to become the largest regional market by 2015. Brake Pads dominate the automotive brake friction products aftermarkets in all regional markets. Brake shoes represent the other major category in the automotive brake friction products market.
Major players covered in the report include Akebono Brake Industry Company Limited, Federal-Mogul Corp., TMD Friction Holding GmbH, Tenneco, Ningbo Welline Brake System Co., Nisshinbo Industries, MIBA AG, Messier-Bugatti, Knorr-Bremse AG, Haldex Ab, Honeywell International Inc., GMP Friction Products, Fras Le, Continental AG, Bosch Automotive Aftermarkets, BorgWarner Inc., ArvinMeritor, Inc., Affinia Group Inc., and Advics Co. Ltd.
"Automotive Brake Friction Products: A Global Strategic Business Report" from Global Industry Analysts, Inc. provides a comprehensive review of market trends, drivers, product profile, players, competition, recent developments, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as the United States, Canada, Japan, Europe, Asia Pacific and Rest of world. Global and regional analytics are provided for automotive brake friction products aftermarkets for passenger cars and light vehicles, in terms of product types such as Brake Pads and Brake Shoes.
Source: www.prweb.com
