Latest news with #EVs'
Yahoo
22-05-2025
- Automotive
- Yahoo
Brake Friction Products Market worth $15.52 billion by 2032
DELRAY BEACH, Fla., May 22, 2025 /PRNewswire/ -- The Brake Friction Products Market is projected to reach USD 15.52 billion by 2032 from USD 13.32 billion in 2025, at a CAGR of 2.2%, according to a new report by MarketsandMarkets. With EVs' growing market share in the coming years, the steady growth in ICE vehicle demand will increase the demand for brake friction products. Further, a rise in developments in brake friction products, an increase in the strength of brake friction materials, and a surge in investments by tier 1 suppliers in new product development of brake friction raise the quality of the brake friction products used in the OEM market. The longer life of high-quality OEM products significantly impacts the brake friction products aftermarket. OEMs and Tier 1 suppliers are increasingly investing in low-emission, copper-free, and ceramic-based friction materials to comply with Euro 7 and China 7 particulate regulations and address EVs' unique corrosion and NVH (noise, vibration, harshness) challenges. Furthermore, the shift toward long-lasting, environmentally sustainable brake pads and discs is accelerating, with leading manufacturers reporting double-digit growth in premium and low-dust product segments through 2025. This underscores a clear market pivot from traditional volume-driven demand to value-driven innovation and regulatory alignment. Download an Illustrative overview: Browse in-depth TOC on "Brake Friction Products Market" 332 - Tables 89 - Figures333 - Pages The wet brakes market is expected to be the largest and fastest-growing during the forecast period. Wet brakes, known as oil-immersed disc brakes, have been more extensively used in agricultural tractors and construction equipment because of their durability, less maintenance, and excellent performance under adverse environments. Unlike dry brakes, wet brakes use multiple discs and continuous lubrication for higher friction coefficients that should help avoid overheating with better reliability and safety. Recent trends highlight a high installation rate of hydraulic wet brakes: over 80% in agricultural tractors, driven by increased farm mechanization and advancements such as dual-line braking for higher-speed equipment. In January 2024, CNH Industrial integrated upgraded wet disc brake systems in its next-gen Case IH tractors, citing improved heat dissipation and reduced wear. The shift toward electrification and autonomous off-highway equipment also encourages OEMs to adopt wet disc brakes, as they provide better control in regenerative and electronic braking systems. Wet brakes will be the most accepted by 2032 since they have more strength than dry brakes in durability and performance. The HCV segment is estimated to be the fastest-growing brake friction products aftermarket during the forecast period. Heavy commercial vehicles (HCVs) are crucial for freight transport and the construction industries due to their ability to carry heavy loads. Heavy commercial vehicle (HCV) sales are rising due to several factors: the boom in e-commerce, which increases demand for freight transport; government infrastructure investments; and rapid urbanization driving public transport needs. According to OICA, HCV sales rose 13% in 2023 to 27 million units; in 2024, they increased by 1.2%. This can be due to the enhanced growth of logistics and e-commerce. About 80–90% of HCVs worldwide adopt drum brakes, with an average yearly mileage of 29,000 to 30,500 miles, with friction product replacement. As a result of increased infrastructure and construction activities, the demand for HCVs is likely to increase, further enhancing the brake friction aftermarket. Brake friction aftermarket: The brake friction products market remains strictly dominated by many key players, including Robert Bosch GmbH, Aisin Corporation, ZF Friedrichshafen AG, Brembo, and Tenneco. For instance, in November 2024, TTX Brakes launched a premium lineup of brake pads for commercial vehicles and fleets, featuring five customized formulations, including first-to-market CeraPhite and SuperMet technologies. North America is expected to grow significantly during the forecast period North American countries include the US, Canada, and Mexico. The US is primarily led by the US, which is also the biggest automotive market. The US's extensive customer base with high disposable incomes drives demand for vehicle ownership, hence stimulating increased local manufacturing activities by the local automotive OEMs. The North American market is expected to expand with the increasing vehicle sales. In addition, the region is also continuously escalating the quality of materials and manufacturing techniques, which allows for better usage and a longer service life for brake friction products. As a result of the increased usage of SUVs and pickup trucks for off-road activities and long-distance travel, the demand for effective braking mechanisms is on the upswing, thereby increasing the demand for friction products of good quality. They are mainly used in rugged terrains requiring dependable braking for safety and performance. In the heavy truck segment, which has trailers in the US market, braking solutions would be critical to ensure the safety of large loads for transit. The major drivers for the demand for brake friction products in OE and aftermarket are robust vehicle sales, increasing vehicle parc, and vehicle miles driven. American brake friction product manufacturers such as ITT Inc. (US), Tenneco Inc. (US), and Meritor Inc. (US), among others, have a presence in the region. Further, the widespread adoption of LCVs and the growing electrification of automotive applications in the US market are key factors influencing the automotive industry in North America. Key Market Brake Friction Products Industry: Prominent players in the brake friction products Companies include Aisin Corporation (Japan), ZF Friedrichshafen AG (Germany), Brembo S.p.A. (Italy), Nisshinbo Holdings Inc. (Japan), and Tenneco Inc. (US). These companies offer brake friction products for automakers and have strong global distribution networks. Companies are also actively collaborating with global OEMs and launching new products to expand their market presence. For instance, in September 2024, ZF launched the OnGuardMAX advanced driver assistance system (ADAS) and the mBSP XBS modular brake platform for the European commercial vehicle (CV) market. Get 10% Free Customization on this Report: This report provides insights on: Analysis of critical drivers (Increasing vehicle parc & vehicle miles traveled to boost the aftermarket, increase in vehicle production will fuel the demand for brake friction OE market, growing use of brakes due to traffic congestion to increase the demand for replacement units), restraints (improving the life of brake friction products to influence the demand for replacement units), opportunities (use of lightweight materials in brake friction products, eco-friendly, and non-toxic brake friction products to be new avenues of growth for brake manufacturers), and challenges (government regulations related to alloy composition of brake friction products, counterfeit brake friction products in the aftermarket). Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the brake friction products market. Market Development: Comprehensive information about lucrative markets—the report analyzes the brake friction products market across varied regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the brake friction products market. Competitive Assessment: In-depth assessment of market share, growth strategies, and service offerings of leading players in the brake friction products market, such as Robert Bosch GmbH (Germany), Aisin Corporation (Japan), Brembo (Italy), and Tenneco (US). Related Reports: Air Brake System Market Automotive Brake System Market Drive by Wire Market Get access to the latest updates on Brake Friction Products Companies and Brake Friction Products Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets
Yahoo
22-05-2025
- Automotive
- Yahoo
Brake Friction Products Market worth $15.52 billion by 2032
DELRAY BEACH, Fla., May 22, 2025 /PRNewswire/ -- The Brake Friction Products Market is projected to reach USD 15.52 billion by 2032 from USD 13.32 billion in 2025, at a CAGR of 2.2%, according to a new report by MarketsandMarkets. With EVs' growing market share in the coming years, the steady growth in ICE vehicle demand will increase the demand for brake friction products. Further, a rise in developments in brake friction products, an increase in the strength of brake friction materials, and a surge in investments by tier 1 suppliers in new product development of brake friction raise the quality of the brake friction products used in the OEM market. The longer life of high-quality OEM products significantly impacts the brake friction products aftermarket. OEMs and Tier 1 suppliers are increasingly investing in low-emission, copper-free, and ceramic-based friction materials to comply with Euro 7 and China 7 particulate regulations and address EVs' unique corrosion and NVH (noise, vibration, harshness) challenges. Furthermore, the shift toward long-lasting, environmentally sustainable brake pads and discs is accelerating, with leading manufacturers reporting double-digit growth in premium and low-dust product segments through 2025. This underscores a clear market pivot from traditional volume-driven demand to value-driven innovation and regulatory alignment. Download an Illustrative overview: Browse in-depth TOC on "Brake Friction Products Market" 332 - Tables 89 - Figures333 - Pages The wet brakes market is expected to be the largest and fastest-growing during the forecast period. Wet brakes, known as oil-immersed disc brakes, have been more extensively used in agricultural tractors and construction equipment because of their durability, less maintenance, and excellent performance under adverse environments. Unlike dry brakes, wet brakes use multiple discs and continuous lubrication for higher friction coefficients that should help avoid overheating with better reliability and safety. Recent trends highlight a high installation rate of hydraulic wet brakes: over 80% in agricultural tractors, driven by increased farm mechanization and advancements such as dual-line braking for higher-speed equipment. In January 2024, CNH Industrial integrated upgraded wet disc brake systems in its next-gen Case IH tractors, citing improved heat dissipation and reduced wear. The shift toward electrification and autonomous off-highway equipment also encourages OEMs to adopt wet disc brakes, as they provide better control in regenerative and electronic braking systems. Wet brakes will be the most accepted by 2032 since they have more strength than dry brakes in durability and performance. The HCV segment is estimated to be the fastest-growing brake friction products aftermarket during the forecast period. Heavy commercial vehicles (HCVs) are crucial for freight transport and the construction industries due to their ability to carry heavy loads. Heavy commercial vehicle (HCV) sales are rising due to several factors: the boom in e-commerce, which increases demand for freight transport; government infrastructure investments; and rapid urbanization driving public transport needs. According to OICA, HCV sales rose 13% in 2023 to 27 million units; in 2024, they increased by 1.2%. This can be due to the enhanced growth of logistics and e-commerce. About 80–90% of HCVs worldwide adopt drum brakes, with an average yearly mileage of 29,000 to 30,500 miles, with friction product replacement. As a result of increased infrastructure and construction activities, the demand for HCVs is likely to increase, further enhancing the brake friction aftermarket. Brake friction aftermarket: The brake friction products market remains strictly dominated by many key players, including Robert Bosch GmbH, Aisin Corporation, ZF Friedrichshafen AG, Brembo, and Tenneco. For instance, in November 2024, TTX Brakes launched a premium lineup of brake pads for commercial vehicles and fleets, featuring five customized formulations, including first-to-market CeraPhite and SuperMet technologies. North America is expected to grow significantly during the forecast period North American countries include the US, Canada, and Mexico. The US is primarily led by the US, which is also the biggest automotive market. The US's extensive customer base with high disposable incomes drives demand for vehicle ownership, hence stimulating increased local manufacturing activities by the local automotive OEMs. The North American market is expected to expand with the increasing vehicle sales. In addition, the region is also continuously escalating the quality of materials and manufacturing techniques, which allows for better usage and a longer service life for brake friction products. As a result of the increased usage of SUVs and pickup trucks for off-road activities and long-distance travel, the demand for effective braking mechanisms is on the upswing, thereby increasing the demand for friction products of good quality. They are mainly used in rugged terrains requiring dependable braking for safety and performance. In the heavy truck segment, which has trailers in the US market, braking solutions would be critical to ensure the safety of large loads for transit. The major drivers for the demand for brake friction products in OE and aftermarket are robust vehicle sales, increasing vehicle parc, and vehicle miles driven. American brake friction product manufacturers such as ITT Inc. (US), Tenneco Inc. (US), and Meritor Inc. (US), among others, have a presence in the region. Further, the widespread adoption of LCVs and the growing electrification of automotive applications in the US market are key factors influencing the automotive industry in North America. Key Market Brake Friction Products Industry: Prominent players in the brake friction products Companies include Aisin Corporation (Japan), ZF Friedrichshafen AG (Germany), Brembo S.p.A. (Italy), Nisshinbo Holdings Inc. (Japan), and Tenneco Inc. (US). These companies offer brake friction products for automakers and have strong global distribution networks. Companies are also actively collaborating with global OEMs and launching new products to expand their market presence. For instance, in September 2024, ZF launched the OnGuardMAX advanced driver assistance system (ADAS) and the mBSP XBS modular brake platform for the European commercial vehicle (CV) market. Get 10% Free Customization on this Report: This report provides insights on: Analysis of critical drivers (Increasing vehicle parc & vehicle miles traveled to boost the aftermarket, increase in vehicle production will fuel the demand for brake friction OE market, growing use of brakes due to traffic congestion to increase the demand for replacement units), restraints (improving the life of brake friction products to influence the demand for replacement units), opportunities (use of lightweight materials in brake friction products, eco-friendly, and non-toxic brake friction products to be new avenues of growth for brake manufacturers), and challenges (government regulations related to alloy composition of brake friction products, counterfeit brake friction products in the aftermarket). Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the brake friction products market. Market Development: Comprehensive information about lucrative markets—the report analyzes the brake friction products market across varied regions. Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the brake friction products market. Competitive Assessment: In-depth assessment of market share, growth strategies, and service offerings of leading players in the brake friction products market, such as Robert Bosch GmbH (Germany), Aisin Corporation (Japan), Brembo (Italy), and Tenneco (US). Related Reports: Air Brake System Market Automotive Brake System Market Drive by Wire Market Get access to the latest updates on Brake Friction Products Companies and Brake Friction Products Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets
Reuters
07-04-2025
- Automotive
- Reuters
CATL in talks to buy controlling stake in Nio's power unit, sources say
SHANGHAI, April 7 (Reuters) - Chinese battery giant CATL ( opens new tab is in talks to buy a controlling stake in electric vehicle maker Nio's ( opens new tab power unit, which runs more than 3,000 battery swapping stations in China, four people with knowledge of the matter told Reuters. CATL made the proposal after announcing a maximum 2.5 billion yuan ($342 million) investment in the unit, Nio Power, in March, said the sources, who asked not to be named because the talks are not yet public. The sources did not say how much CATL was offering under the proposed deal. However, one of them said Nio Power had been valued at more than 10 billion yuan during a 2024 fundraising round. CATL declined to comment on the proposal when contacted by Reuters. Nio did not directly address questions about the possible deal but said it was promoting joint construction of battery swapping stations "with multiple investors, including CATL". "Nio and CATL will deepen collaboration on capital and business and further consolidate the strategic partnership to jointly build the largest battery swapping network globally," Nio wrote in a response to a Reuters request for comment. CATL is ramping up investments in battery swapping facilities as chairman Robin Zeng aims to reinvent his 25-year-old enterprise, pushing beyond battery manufacturing to become a green-energy provider. The company, which aims to lead a trend it says will replace a third of gas stations in China, announced a partnership with state-owned oil company Sinopec ( opens new tab last week to build 10,000 battery swap stations. At least 500 of them will be built this year. Nio Power, one of Nio's core assets, provides charging and battery swapping services to Nio drivers and other EV brands including Tesla (TSLA.O), opens new tab and BYD ( opens new tab. The unit's potential sale reflects the intensifying competition Nio faces in China's auto market. In an effort to ease consumer concerns over EVs' limited range, Nio has built some 3,240 battery swapping stations, mostly in China, that allow customers to replace a depleted battery pack with a fully charged one in less than three minutes. The investments, however, have been a drag on the company's profitability. Nio has also been co-developing EVs that can swap batteries with other automakers' models. ($1 = 7.3086 Chinese yuan renminbi)
Yahoo
23-03-2025
- Automotive
- Yahoo
Tesla has a plan to launch a next-gen taxi service — and it's nothing like what you're used to
Aside from a well-functioning vehicle, the most important part of a good taxi ride is a safe driver with excellent navigation skills. While that may be true of your average yellow cab experience, Tesla wants to redefine traditional taxis with its newly proposed rideshare service. The first major change? Kicking out the driver. According to the Washington Post, Tesla plans to launch a taxi service in California using autonomous self-driving electric vehicles. Late last year, Tesla reportedly submitted a charter permit application to the California Public Utilities Commission seeking approval to transport passengers in its vehicles. In November, a CPUC official emailed Tesla to propose discussing the next steps of the company's robotaxi proposal, per an email obtained by the Post. A spokesperson for the CPUC told the outlet that Tesla's permit is currently under consideration. The Post reported that Tesla already has approval to test its driverless vehicles in California — if a human is behind the wheel. This new permit, however, would allow Tesla to accept self-driven ride requests from users. Tesla, which is trying to turn around slumping sales and stock performance, is already in the process of rolling out a self-driving rideshare service in Austin, Texas. While electric yellow cabs already exist in metropolitan areas like New York City, they are still rare across the United States. Even in New York, 19% of rides were from an EV or wheelchair-accessible vehicle, with the city combining the stats, though the Big Apple plans to make that 100% by 2030. Tesla's entire vehicle fleet is electric, making the promise of an all-EV taxi service exciting to environmental advocates. Would you ride in a self-driving Tesla Robotaxi? Heck yes Probably Not anytime soon No way Click your choice to see results and speak your mind. Unlike gas-powered vehicles, which run on dirty fuel, EVs produce no planet-warming air pollution when driven — there is still pollution from manufacturing and charging the vehicles, of course, but there are two key ways EVs end up polluting much less. First, the percentage of renewable, zero-fuel energy in the country is always ticking up, whereas fully gas-powered cars are fully reliant on burning fuel, which releases pollution into the air. Second, gas cars lose around 80% of their energy to factors such as heat loss. Meanwhile, EVs' efficiency rate is about 89%, as they lose far less to heat waste and recapture a lot of other lost energy through regenerative braking fed back into the battery. For these reasons, the Environmental Protection Agency reported that wider adoption of EVs could improve public health by curbing respiratory irritation, illnesses, and cancers linked to air pollution. Tesla CEO Elon Musk has repeatedly expressed plans to deploy self-driving vehicles nationwide. In late 2024, Musk said he expects existing Tesla models to start offering "fully autonomous" driving in California and Texas this year. The company also announced plans for the upcoming Tesla Cybercab, also referred to as Robotaxi, a fully autonomous passenger vehicle without a steering wheel or gas pedals. As the Post pointed out in its report, however, Tesla's autonomous technology has a questionable safety record marred by investigations and recalls. Musk has recently made headlines for his work with the Trump administration and his position in the newly formed Department of Government Efficiency. As the Post reported, safety advocates are concerned the Tesla CEO's government role could create a worrisome conflict of interest that could compromise essential safety standards and federal guidelines related to self-driving vehicles. Before his DOGE appointment, Musk said he would use his influence with the Trump administration to "create a federal framework for autonomous vehicles." There is a need for that, too, with Tesla not being the only business pursuing this — for example, Waymo has already been operating self-driving cabs in San Francisco since June. Those safety advocates say that regardless of intent, a conflict of interest would remain if the oversight is not fully independent and supplied with sufficient resources to investigate risks. The Post reported that a small government team regulating autonomous cars was recently "cut nearly in half" by DOGE cuts. The outlet added that the "reduction in workforce" cuts impacted the National Highway Traffic Safety Administration, the same government body responsible for investigating and reviewing Tesla's safety standards. If it can be done safely or without requiring the driverless part of the plan until the tech is perfected, the electrification of taxis could make a major difference in air pollution. Transportation — from passenger cars to rideshares to long-haul trucks — is the largest combined source of planet-warming pollution in the U.S. There are more than 600,000 ride-hail vehicles in California, where rideshare services like Uber and Lyft are more popular than yellow cab services. These largely gas-powered cars release about 50% more planet-warming pollution than the average passenger car due to driving frequency, making them particularly good candidates for upgrading to electric. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
