Railway Friction Material Market Size, Share, Growth, and Industry Growth, By Type (Brake Blocks, Brake Pads, Brake Shoes, and Others), By Application (Freight Wagons, High-Speed Rail, Passenger Wagons, and Locomotive), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Railway Friction Material Market REPORT OVERVIEW

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The global railway friction material market size was USD 2103.9 million in 2022 and market is projected to touch USD 3020.5 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.1% during the forecast period.

The system can be slowed down or stopped by changing the amount of friction in the system. The majority of the railway friction material is used in the braking system, specifically in the brake linings and pads. The friction substance is used to provide friction when slow or little movement is necessary. It creates a resistive force between two contacts that keeps the items from sliding. Any of the three substance types; liquid, solid, and gas can encounter friction. Liquid friction is the term used to describe friction between fluids.

Automobile performance, aesthetics, and efficiency are all enhanced by the use of railway friction materials. Modern uses for friction products and materials include airplanes, passenger cars, railroads, trucks, and commercial vehicles. These materials are used for creating friction in various circumstances where reduced and slow movement is required. These materials are mostly used in brake and clutch, gear, industrial machinery, and operating systems. Friction is required in the clutch, grinding process, and brake systems, which are required in stopping or slowing activities. 

COVID-19 Impact: Manufacturing and Supply Affected by Insufficient Workforce

COVID-19 had a significant impact on every industry. The railway friction material market growth rate for the machinery and equipment sector was significantly lower. The production and supply of goods are essential to trade. To stop the virus from spreading further, the government enforced tight laws for closing down the manufacturing sectors. The product supply was hampered by the lack of suitable raw materials. The rate of manufacturing was also impacted by the lack of labor. Companies had to change their business models due to the pandemic. The market's expansion was hampered by the products' decreased supply.

LATEST TRENDS

"Growing Sales of Commercial and Passenger Vehicles to Boost Product Sales"

The enhanced demand for product from automobile manufacturers such as freight wagons, passenger wagons, locomotives, and other industries is on a constant rise, which is forecasted to propel growth in the market. Demand for these items is increasing due to the rising demand for passenger and commercial vehicles. The growth in the aerospace, manufacturing, and construction sectors is also anticipated to increase demand for railway friction materials and products. Additionally, producers are concentrating on putting in place various regulations on the compounds used in brake friction materials. These factors are likely to surge growth in the market. 

Railway Friction Material Market Segmentation

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• By Type Analysis

By type, the market is segmented into brake blocks, brake pads, brake shoes, and others.

• By Application Analysis

Based on application, the market is classified into freight wagons, high-speed rail, passenger wagons, and locomotives.

DRIVING FACTORS

"Easy Availability of the Product to Foster Growth in the Market"

The market is expanding as a result of the rise in demand for friction products and materials from the automotive end-user sector. The demand for friction materials grows as a result. Additionally, manufacturers are concentrating on releasing cutting-edge friction products as part of their business strategy to have a stronger position in the friction goods and materials sector. Railway friction materials are widely used in the railway and automotive industry, which is increasing the consumption rate of the product. Moreover, the easy availability of the product is becoming an additional growth factor in the market. These products are available in various sizes and shapes which is expected to augment the market growth. 

"Higher Efficiency of the Product to Boost Market Growth"

The friction materials can withstand high wear and tear along with high temperatures, which is a crucial factor in accelerating railway friction material market growth. There is also a significant rise in demand for electric vehicles, a vast expansion of the services sector in many nations, and a growing lack of better intercity public transportation facilities in many nations, which is driving up private vehicle ownership and driving up demand in the automotive sector. In addition, the automotive end-use industry is seeing an increase in demand for lightweight friction goods, and technological breakthroughs and modernization are also on the rise.

RESTRAINING FACTORS

"Growing Prevalence of Cheap Materials to Hinder Market Growth"

The expanding prevalence of cheap brake materials is expected to hinder the growth of the market. The growing advancements in braking technologies are also anticipated to eradicate the adoption of railway friction materials. These factors are most likely to challenge the expansion of the market.  

Railway Friction Material Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Due to Higher Product Demand from End-Use Industries"

Asia Pacific is projected to hold a dominating part of the railway friction material market share due to the growing demand for construction, automotive, and railway industries in emerging economies. Moreover, the escalating economic growth of the countries is boosting consumer spending on automobiles. The region is forecasted to hold about 57% of the total market share owing to the précising factors.

Europe is expected to hold about 24% of the total railway friction material market share due to the accelerating consumption of industrial and domestic goods. 

North America is forecasted to hold approximately 12% of the overall railway friction material market share attributable to the rising per capita income of the population. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

Key players are constantly emphasizing on the development of advanced products to gain traction in the market. Key companies are increasing their investments in developing eco-friendly products coupled with favorable trade policies for the transportation of products. Companies are creating diversification in product portfolios to prove themselves better than the other players existing in the global market. The key companies are focusing on gaining collaborations and mergers in the global market to gain growth in the market. Key companies are focusing on developing better and cost-effective ways for the development of highly efficient products. 

List of Market Players Profiled

• Knorr-Bremse (Germany)
• Wabtec Corporation (U.S.)
• Tianyi Group (China)
• Akebono Brake Industry (Japan)
• Bremskerl (India)
• Tribo (India)
• Escorts Group (India)
• PURAN (India)
• CRRC Qishuyan Locomotive Co., Ltd. (China)
• Flertex (France)
• Beijing Railway Star Fortune High-Tech Co.,Ltd (China)
• BOSUN (China)
• Guangdong Huatie Tongda High-speed Railway Equipment Corporation (China)
• Youcaitec Material Co., Ltd. (China)
• Schunk Carbon Technology (Germany)
• Morgan Advanced Materials (U.K.)
• Yiyang Group (China)
• Mersen (France)
• Vanguard Tech (U.S.)
• Doneka (U.S.)
• EBC Brakes Group (U.S.)
• TOKAI Carbon (Japan)
• Rane Group (India)
• Miba (Austria)
• Masu Brakes (India)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research. The market insights are prepared by utilizing large sample sizes for data-gathering modules. The study provides in-depth market insights. The stage includes gathering market data or related data using a variety of sources and tactics. It involves going over and organizing all the information gathered during the previous advance. It also covers the investigation of information discrepancies found across various information sources. Market statistical and coherent models are used to assess and estimate market data.