- The key vendors in the global automotive brake friction materials market 2015-2019 are Advics Co., Akebono Brake Industry Co. Ltd., Carlisle Brake & Friction, Federal-Mogul Corp., Haldex and Nisshinbo Brake Inc.
London, 10 September 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global automotive brake friction materials market 2015-2019. New product development in brake friction materials market is a key trend upcoming in the market. The next generation vehicles are expected to be eco-friendly, lighter, and more fuel efficient than the existing models. Vendors have to innovate next-generation braking systems that are safer, efficient, and also provide better functionalities than the existing compositions. The global automotive brake friction materials market 2015-2019 is expected to grow at a CAGR of 4.56% during 2014-2019.
Growing population and rapid industrialization expedite the need for better transportation facilities. This leads to the development of the automotive industry, creating a positive impact on the brake friction materials market. The consequent increase in purchasing power and increasing disposable income contributes significantly to the growth of the market.
“Innovation of new composition of friction materials contributes to the replacement of the existing products with better ones. Investment in R&D of new products determines the cost, which would be the sole differentiating factor for consumers,” says Faisal Ghaus, Vice President of Technavio Research.
“Different brake systems have different NVH specifications depending on the geographical area where they are used. Raleigh has introduced a universal anti-friction brake system, and is involved in the R&D of similar products.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
