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.
Regional Market Share
- The US dominates the global market for automotive brake friction product aftermarket for light vehicles, reports Global Industry Analysts. The Asia-Pacific region is set to record the fastest rate of yearly growth in the short-term, exceeding 8% and fuelled by emerging market growth in India and China. Brake pads represent the leading segment in the brake friction product aftermarket, and are expected to record yearly growth of around 5%.
- The brake shoes aftermarket segment continues to record falling revenue in developed markets. Ceramic brake parts loom large in the aftermarket, having encroached on market share previously belonging to non-asbestos organic (NAO) and semi-metallic products in established markets. Some OEMs still use NAO material in new vehicles, but ceramics now dominate the aftermarket. Ceramic and semi-metallic brake parts represent a considerable portion of the North American friction parts aftermarket. Ceramic and semi-metallic brake parts are expected to represent as much as 90% of the market in coming years.
- The EU brake market is expected generated close to $11 billion in 2010, having recorded around a -1% yearly change for the four preceding years. MarketLine estimates market consumption volumes decreased at a yearly rate of almost -1.5% over the same four-year period to reach a volume of $135 million units in 2011. Market growth is expected to accelerate to around -0.5% between 2011 and 2016, bringing the market to close to $11 billion.
- The UK brake market exceeded $1.5 billion in 2011, reports MarketLine, having recorded yearly change of around -1% between 2007 and 2011. In terms of market consumption value, there was an annual rate of decrease of around -1.5% over the same four-year period, bringing the market to just more than 21 million units in 2011. Market growth is set to accelerate slightly to keep revenue generated above the $1.5 billion mark in 2016.
Industry Leaders
Leading players currently operating in the global aftermarket sales of light vehicle automotive brake friction products industry include: Honeywell International, Japan Brake Industrial, ABS Friction, Akebono Brake Industry, Bosch Automotive Aftermarket, Haldex, Carlisle, Delphi, Brakewel Automotive Components India, GMP Friction Products, Meritor, Federal-Mogul, Advics and Affinia.
Market Outlook
The global automotive brake friction products aftermarket for light vehicles faces specific obstacles, including counterfeit parts that threaten to continue encroaching on market share held by leading companies. Global Industry Analysts estimates as much as $10 billion in revenue is lost by American automotive suppliers to the counterfeit aftermarket products market every year.
Because brake parts have to be replaced on a continual basis, they represent a high-risk sector for counterfeit operations. The standard low-value friction part market represents the segment facing the biggest challenge from counterfeiters. Most counterfeiting occurs in Japan, China, Malaysia, Taiwan and India. As the volume of counterfeit outfits is set to rise over coming years, the industry is under pressure to make up lost sales and protect market share.
Leading Industry Associations
