Brake Friction Products Market Report Online
The Global Brake Friction Products Market Size is forecast to grow at a CAGR of 5.3% during the forecast period 2021-2028.
Friction materials are used to provide or enhance friction to decelerate or stop the system. Friction materials majorly find applications in braking systems, where they are used in brake pads and brake linings.
Stringent brake emission norms, stopping distance and vehicle safety are some of the factors that have supported long-term expansion for Brake Friction Products Market.
Due to the COVID-19 crisis, there was a sudden drop in vehicle miles travelled (VMT) and customer foot traffic because of physical distancing and lockdowns. This will result in a slow economic recovery, which means that aftermarket demand may take years to recover to 2019 levels. With so many restraints, aftermarket players should take steps now to improve their business strategy and emerge stronger from the crisis.
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Last Update : Jul 17, 2023 7:32 AM
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