Global Brakes Industry
World aftermarket sales of light vehicle automotive brake friction products will reach almost $4.3 billion by 2017, according to research from Global Industry Analysts. Market growth will be fuelled by rising automotive products sales and production in Asia and North America. As consumers demand low-cost, long-lasting, high-performing, brake friction products, industry players will continue to witness increasing revenue.
The global automotive brake friction product market is mature and continues to change in terms of raw materials used in the manufacture of friction products. One notable trend in the industry sees consumers choose premium brands, providing superior service instead of opting for less-expensive alternatives with poorer performance levels.