Brake Disc Market Size, Share, Growth, and Industry Analysis, By Type (Cast Iron, CMC), By Application (Passenger Car, Commercial Vehicle, Motorcycles and Scooters, Others) and Regional Forecast to 2032

BRAKE DISC MARKET OVERVIEW

The global brake disc market size was USD 7.51 billion in 2023 and is projected to touch USD 14.53 billion by the end of 2032, exhibiting a CAGR of 8.6 % during the forecast period.

An analysis of the brake disc market reveled that it has been growing progressively due to the increased need for security of vehicles, increased efficiency of the braking system and innovation. Brake discs, sometimes referred to as rotors, are important components of a car’s braking system in that they uses the forces of friction to decelerate through heat absorption of kinetic energy a vehicle. Market growth is driven by rising worldwide vehicle manufacturing and sales, especially in the developing countries. Also, additional developments in the manufacturing of brake disc through the use of a combination of ceramics and other lightweight metals are playing a major role in enhancing the general braking mechanism, heat tolerance and durability of disc brakes. It also dependent on fads such as Electronic cars (ECs), and the use of Anti-lock brake system (ABS) and electronic stability control (ESC). High safety requirements in different geographical locations have also contributed significantly to the increase in sales of brakes with high performance. Since automotive industries are focused on developing sophisticated braking system the brake disc market is projected to expand providing chance of the new materials and designs.

GLOBAL CRISES IMPACTING BRAKE DISC MARKETCOVID-19 IMPACT

Brake Disc Market Had a Negative Effect Due to Supply Chain Disruption During COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The brake disc market share was affected by COVID-19 especially through disruption of automotive production and distribution networks. Ongoing COVID-19 health crisis in Mindanao and other territories resulted to disparities in lockdown and restrictions, which affected automotive manufacturing shut down temporarily or closed some of the automotive manufacturing facilities, restricting new vehicle manufacturing or production, which in turn affected the demand for brake discs. With regard to the impact of Covid, the company realized that this pandemic affected the supply of raw materials to the company and through this it affected the production of brake disc because of the increase in cost and delay in supplies. Also, cut in utilization, high volatility and lower consumer expenditure made the overall sale of little vehicles weak including the commercial vehicles. This led to a deceleration of production throughout the automotive value chain, and brake disc makers also felt the impact. The financial risk management of companies could only be achieved through reduction of activities and layoffs. While the demand has increased slightly over the recent past and especially with the increased demand for electric vehicles, the supply chain is still sensitive and slow to respond to shifts in market trends especially after the pandemic.

LATEST TREND

"Rise of Sustainable and Eco-Friendly Materials Drives Market Growth"

In particular, there is a shift toward the use of lightweight and composite materials as the key driver of the brake discs market. While numerous advances in automotive braking technologies are increasingly being offered in the market, cast iron brake discs used in conventional cars are gradually being substituted by materials like carbon-ceramic composites (CMC) and aluminum alloys purposely for high performance and luxury cars. These materials provide large levels of weight savings, which in turn boosts overall vehicle fuel economy and maneuverability. Carbon-ceramic brake discs have low wear, excellent high-temperature stability and therefore are suitable for application in Sports and electric vehicles that need powerful brakes. Furthermore, the utilization of lightweight material reduces the unsprang weight, thereby enhancing ride comfort as well as handling stability. To increase the accessibility of these novel materials, manufacturers are now training their focus on research and development to drive down the price of these products. As the global focus shifts toward fuel efficiency and emissions especially in already strict markets, lightweight and composite brake discs are expected to become increasingly popular in the succeeding years.

BRAKE DISC MARKET SEGMENTATION

BY TYPE

Based on type, the global market can be categorized into Cast Iron, CMC

• Cast Iron: Conventional vehicles operate cast iron brake discs because of their endurance and economic benefits despite having restricted thermal conductivity and wear resistance.
• CMC: These are the brake discs made by CMC; they are light, and resist heat well; they are common in high performance and luxury cars, but they are costly.

BY APPLICATION

Based on application, the global market can be categorized into Passenger Car, Commercial Vehicle, Motorcycles and Scooters, Others

•  Passenger Car: Passenger car brake discs prioritize durability, performance, and tolerable cost, and their material control varies from cast iron to ceramic matrix composites.
• Commercial Vehicle: Being used for heavy duty work commercial vehicle brake discs call for high wear properties; they are usually thicker to cater for additional load.
• Motorcycles and Scooters: These brake discs are comparatively smaller and lighter brake discs are incorporated with high emphasis on cooling capability and on the aspect of flexibility providing safety features and grip on two wheelers.
• Others: This category can include brake discs for industrial vehicles, electric vehicles and of course brake discs made of materials other than the standard cast iron or composite materials for vehicles with special application and need different specifications.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions. 

DRIVING FACTORS

"Increased Focus on Vehicle Safety Boost the Market"

The continually increasing demand for safety in vehicles can be strongly attributed as a driving force for the brake disc market growth. The brake discs are critical components in vehicles because they are used to generate brake torque, and various authorities in different geographical locations are equipping the automotive brake safety standards. New technologies such as anti-lock brake systems (ABS) and electronic stability programs (ESP) have led to a growing need for enhanced braking parts including high-performance brake discs. These elements give shorter stopping distances and improvements in controllability when it is most needed in a crash avoidance scenario. As consumer wants safer vehicles, and producers seek to conform or surpass those standards of safety, the need for better brake discs, cannot be overemphasized.

"Rising Popularity of Electric Vehicles (EVs) Expand the Market"

The social electrical automobiles known as electric vehicles (EV) are an additional key function that contributes to the worldwide growth of the brake disc market. Electric cars particularly need advanced brake systems because they apply regenerative type of breaking most of the times hence sparing the normal types of brakes. Nevertheless, as the electric cars become faster and higher powered there will still be a need for high performance brake discs if the situation is required so in emergency situations. The low density brake discs, especially the carbon-ceramic composite ones, are now familiar in EVs for their reliability and performance. This shift is expected to drive the brake disc market faster, as manufacturers are also investing heavily in the development of EV compatibility braking systems for this fast-growing segment.

RESTRAINING FACTOR

"High Cost of Advanced Brake Discs Potentially Impede Market Growth"

One of the chief limiting factors in the brake disc market is the expense of developing brake disc materials based upon carbon-ceramic composites. These, in general, are very costly materials and, as such, they are predominantly found in high-end and/high-performance car models. Consequently, the cost-effectiveness factor is compromised reducing marketing target to only anable clientele base. Another issue that current manufacturers come across in the process of making these innovative brake discs affordable, thus being fit for a larger, mid-price and economy car line.

OPPORTUNITY

"Growth in Emerging Markets Create Opportunity for The Product in The Market"

New entrants act as potential buyers of brake discs because of vehicle population increase in these regions, development of relevant infrastructure, and increasing urbanization. As these markets grow, markets for cars for passengers as well as commercial use are also rising, a factor that will call for first-rate brake components. Also, safety regulations put in place in emerging markets by various governments are making manufacturers produce better braking systems. This chance makes it easier for brake disc makers from all over the globe to partner and equally set up manufacturing plants in these regions to meet the demand.

CHALLENGE

"Balancing Performance with Environmental Regulations Could Be a Potential Challenge for Consumers"

One of the issues that loom large before manufacturers within the brake disc market refers to operational performance as well as compliance with environmental standards. The materials and methods that can be used in the production of brake discs may be associated with high energy consumption and emission of wastes. And for Years especially in Europe there have been tighter environmental specifications that need manufacturers to look for green methods of production and raw materials. It is often difficult to meet these requirements while ensuring product performance especially since lightweight and composite materials, while yielding environmental advantage when used, have another side in terms of their manufacture.

BRAKE DISC MARKET REGIONAL INSIGHTS

• NORTH AMERICA

North America especially United States brake disc market owing the large production of automotive in this region as well as increasing demand for high performance automobile. The United States and Canada have consistently sought higher safety whereas Europe focuses on eco-friendly technologies; hence, they fascinate brake discs constantly. Safety consciousness of the region along with increased popularity of electric vehicles has increased the demand for high performance and lightweight brake disc materials. This unloading has established North America as the biggest consumer of brake discs particularly the premium segment owing to leading automotive manufacturing companies and aftermarket suppliers.

• EUROPE

Europe is another important region in brake disc market, fueled by stringent laws for automotive sector, and having powerful automotive industry. That is why Germany, France, and Italy, such blessed lands, have taken the lead in new technologies in the automotive industry, including protesting braking systems. Compactness acquired due to the use of lightweight brake disc components has also been an irresistible force towards more environs friendly brake disc, particularly the carbon-ceramic composites acknowledged in the European community. Secondly, stringent safety regulations across the region, along with the growing popularity of electric vehicles, also increases the usage of higher quality brake discs, which continues to act as a driving force for the Europe market.

• ASIA

Asia is a core market of brake discs due to rapidly developing automobile industries around SE Asia especially with countries like China, Japan & India. The usage of the brake discs has increased in these countries since the demand for passenger and commercial vehicles has equally risen. Also, Asia is a manufacturing region with its manufacturers manufacturing brake discs to satisfy both the domestic and export markets. Meanwhile the production of Electric cars in China and Japan is also driving demand for high end braking systems thereby shifting the location of future growth to Asia.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

Some key industry manufacturers in brake disc market are Brembo S.p.A., Aisin Seiki Co., Ltd., Bosch. Brembo S.p.A. a company based in Italy produces outstanding braking system solutions especially for sports and luxury cars. Aisin Seiki Company is a Japan based company that focuses on supplying brake discs to passenger and light commercial vehicle with high durability and efficiency through the use of advanced material. Bosch is a German-based company that focuses on automotive technology and is an array of brake disc such as; premium and economy brake disc. To sustain their competitiveness, these companies pursue innovations, top-notch quality, and reliability in sustainability to support current and future needs of both traditional and new electric vehicle industries.

List Of Top Brake Disc Market Companies

• Winhere (China)
• Aisin Seiki (Japan)
• Kiriu (Japan)
• Bocsh (Germany)

KEY INDUSTRY DEVELOPMENT

April 2024: Recently, Brembo unveiled a new type of lightweight carbon ceramic brake disc for cars with electric drive that contribute to better braking with minimal weight.

REPORT COVERAGE

We foresee new openings for brake discs because vehicle owners are increasingly searching for safety, performance, and environmental benefits. Currently the rising focus on electric vehicles and sophisticated braking technologies like light weight and regenerative braking compatible discs, etc. is stimulating the competitive dynamics in the market. Thus, the main issues are the cost of such materials and their availability since its application is rather limited and costly, especially when using advanced technologies Nevertheless, there are strong prospects in developing countries as well as using environmental-friendly materials. Segments in North America, Europe and Asia are set to experience such growth with industry giants such as Brembo, Bosch and Aisin Seiki compelling the innovation in technology and design. In all, the brake disc market has great potential for growth as safety features improve, government regulation on emissions increase, and consumers demand superior brake systems.