Global Brake Friction Products Market 2024 - By Growth Factors, Applications, Regional Analysis, Key Players And Forecast 2033
Overview and Scope The brake friction products market consists of sales of hybrid brake pads, glass, fillers, and high-temperature resins. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. Sizing and Forecast The brake friction products market size has grown strongly in recent years. It will grow from $10.51 billion in 2023 to $11.09 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to the implementation of safety and environmental regulations, shifts towards performance-oriented braking systems, increased vehicle production, and the rise in the adoption of electric vehicles (EVs). The brake friction products market size is expected to see strong growth in the next ...