Press release
Friction Products and Materials Market Was Valued at USD 20,436.5 Million in 2021, Demand for Passenger and Commercial Vehicles
According to Precision Business Insights (PBI), the latest report, the friction products and materials market is expected to be worth USD 21,397.0 million in 2022, growing at a 4.7% CAGR from 2022 to 2028. The global friction products and materials market is segmented into the following types: By Product (Blocks, Discs, Lining, Pads and Others), Business Type (Aftersales and Original Equipment (OE)), Application (Brakes, Clutches, and Industrial Brake & Transmission Systems), End User (Aerospace & Marine, Automotive, Construction, Railway and Others) and Geography (North America, Europe, Asia Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the friction products and materials market report are ABS FRICTION CORP., Akebono Brake Industry, Carlisle Brake & Friction (CBF), European Friction Industries Ltd, Fras-le, GMP Friction Products, Hindustan Composites Ltd., MIBA AG, Nisshinbo Holdings Inc., and Tenneco (Federal-Mogul Holding). The primary driver of the expansion of the global friction products and materials market is the growing global demand for passenger and commercial vehicles.
View the detailed report description here - https://precisionbusinessinsights.com/market-reports/global-friction-products-and-materials-market/
Automotive Segment to Dominate the Friction Products and Materials Market:
Automotive segment is expected to account for a larger revenue share in the global friction products and materials market, with a value share worldwide. These friction goods are highly sought after across a variety of industries, particularly the automobile industry, due to their propensity for wear and tear. As a result, the market for friction goods and materials is likely to grow throughout the course of the forecast period, and this growth is expected to be accelerated by the expansion of the automotive sector. In order to boost their income and market share during the forecast period, manufacturers are also focusing on other end-use industries besides the automotive sector.
Asia Pacific Friction Products and Materials Market
The Asia Pacific market is expected to increase in the global friction products and materials market over the forecast period. It is projected to grow at a CAGR of 4.9% in the coming years. The need for friction products and materials has increased in the Asia-Pacific region due to growing population and rising demand for automobiles. The area is renowned for being the centre of manufacturing for the automotive, industrial, and machinery industries, among many other sectors.
Request sample report at https://precisionbusinessinsights.com/request-sample?product_id=38489
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The global friction products and materials market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
Detailed Segmentation:
The friction products and materials market are segmented based on product, business, type, application, end-user, and geography.
Based on the product, the market is segmented into the following:
• Blocks
• Discs
• Lining
• Pads
• Others
Based on the business, type, the market is segmented into the following:
• Aftersales
• Original Equipment (OE)
Based on the application, the market is segmented into the following:
• Brakes
• Clutches
• Industrial Brake & Transmission Systems
Based on the end user, the market is segmented into the following:
• Aerospace & Marine
• Automotive
• Construction
• Railway
• Others
Request Methodology: https://precisionbusinessinsights.com/request-methodology?product_id=38489
Contact:
Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747
About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.
Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.
View the detailed report description here - https://precisionbusinessinsights.com/market-reports/global-friction-products-and-materials-market/
Automotive Segment to Dominate the Friction Products and Materials Market:
Automotive segment is expected to account for a larger revenue share in the global friction products and materials market, with a value share worldwide. These friction goods are highly sought after across a variety of industries, particularly the automobile industry, due to their propensity for wear and tear. As a result, the market for friction goods and materials is likely to grow throughout the course of the forecast period, and this growth is expected to be accelerated by the expansion of the automotive sector. In order to boost their income and market share during the forecast period, manufacturers are also focusing on other end-use industries besides the automotive sector.
Asia Pacific Friction Products and Materials Market
The Asia Pacific market is expected to increase in the global friction products and materials market over the forecast period. It is projected to grow at a CAGR of 4.9% in the coming years. The need for friction products and materials has increased in the Asia-Pacific region due to growing population and rising demand for automobiles. The area is renowned for being the centre of manufacturing for the automotive, industrial, and machinery industries, among many other sectors.
Request sample report at https://precisionbusinessinsights.com/request-sample?product_id=38489
Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The global friction products and materials market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
Detailed Segmentation:
The friction products and materials market are segmented based on product, business, type, application, end-user, and geography.
Based on the product, the market is segmented into the following:
• Blocks
• Discs
• Lining
• Pads
• Others
Based on the business, type, the market is segmented into the following:
• Aftersales
• Original Equipment (OE)
Based on the application, the market is segmented into the following:
• Brakes
• Clutches
• Industrial Brake & Transmission Systems
Based on the end user, the market is segmented into the following:
• Aerospace & Marine
• Automotive
• Construction
• Railway
• Others
Request Methodology: https://precisionbusinessinsights.com/request-methodology?product_id=38489
Contact:
Mr. Satya
Precision Business InsightsTM | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747
About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.
Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
