Automotive Brake Caliper Market to grow at over 3% CAGR from 2017 to 2024

Automotive brake caliper market from steel is likely to account for highest share of more than 40% over the forecast timeframe owing to enhanced mechanical properties such as durability, stiffness, and high corrosion resistance. These properties have led to the shifting preference of manufacturers towards the material. Moreover, the material offers cost effectiveness when compared to the counterparts, further supporting the industry dominance. Phenolics will witness steady growth of over 3.5% from 2017 to 2024 owing to provision of the benefits such as light weight and high strength.

Automotive brake caliper market from PCVs are expected to account for highest revenue share, crossing 60% by 2024. Their proliferating production along with mandatory installation of brake calipers will primarily contribute towards the industry expansion. Moreover, increasing consumer expenditure has resulted in improved PCV sales, further supporting the industry dominance. Two-wheelers are likely to grow rapidly over the forecast timeframe owing to their substantial production, particularly in emerging economies.

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Compulsory installation across various vehicle segments such as passenger cars and commercial vehicles owing to the mandatory vehicle safety standards across the globe will primarily drive the industry growth. The product provides greater self-adjustment as compared to the traditional systems, that leads to instant stopping and efficiency in overall vehicle functionality. Regular advancements in vehicle safety features coupled with extensive quality checks during production process will further escalate the automotive brake caliper market share over the next eight years.

Fixed calipers are anticipated to capture highest volume share of more than 85% till 2024 owing to their rising deployment in vehicles. Their high adoption is attributed to their advantages such as rigid mounting on the brakes along with instant vehicle stopping. Automotive brake caliper market from floating calipers is likely to grow rapidly owing to their rising usage due to benefits including easy & fast production and cost effectiveness.

Continuously rising automobile production across the globe has led to their mass production, contributing significantly towards the revenue generation. The vehicle manufacturers highly depend on the suppliers to provide cost-effective variants that assure total compliance with the stringent regulations. Moreover, intense competition in the automotive brake caliper market has impacted the product pricing trend. However, risk of manufacturing defects along with high manufacturing and research costs may hamper the industry growth over the next eight years.

Remanufacturing of these calipers is an emerging trend in automotive brake caliper market that has gained traction among the competitors, particularly in developed regions. It has resulted in significant reduction in carbon footprint and overall cost of the calipers. Manufacturing of aluminum calipers along with better fitment is another trend that will instigate immense growth potential to the industry size till 2024.

OEMs will acquire maximum revenue share owing to installation of brake calipers during the vehicle manufacturing. Increasing production of two-wheelers, passenger and commercial vehicles across the globe has led to an upsurge in FDIs in emerging economies, further contributing towards the revenue generation. Automotive brake caliper market from aftermarket will witness more than 3% CAGR from 2017 to 2024. This can be credited to cost effectiveness offered by the channel.

High pressure die casting will dominate the automotive brake caliper market over the coming years owing to extensive usage of this process during the production of steel calipers. Provision of enhanced surface finish and readily available raw materials will further result in high preference towards the process, supporting the industry dominance. Gravity die casting will exhibit around 4% CAGR over the next eight years owing to rising deployment of the process to produce aluminum variants. Provision of high dimensional accuracy is another factor positively impacting the segment’s growth.

Automotive brake caliper market from Asia Pacific will grow substantially, at more than 3% CAGR from 2017 to 2024. Proliferating vehicle production coupled with enhanced manufacturing units across the region will essentially impact the industry penetration. Rising demand from the emerging economies including South Korea, China, and India will further support the regional dominance. North America automotive brake caliper market was valued at more than USD 4.5 billion in 2016 and will grow considerably till 2024. Improving sales of commercial vehicles and strengthening online distribution channel across the region will drive the industry growth. Rising implementation of disc brakes in passenger vehicles will further propel the regional growth.

AlDelco, Continental, Akebono, Brembo, Mando Corporation, Apec Braking, and ZF Friedrichshafen are among the noticeable automotive brake caliper market players. Other prominent participants include Robert Bosch, Budweg, WABCO, and Brakes International. Industry players are focusing on expanding their business to enhance their visibility among the customers. For instance, in August 2017, Akebono Brake Industries planned to expand its production capacity for manufacturing of brake calipers, strengthening its position, particularly in Asia Pacific.

Automotive Brake Caliper Market Size By Vehicle (PCV, LCV, HCV, Two-Wheelers), By Product (Fixed, Floating), By Distribution Channel (OEM, Aftermarket), By Piston Material (Aluminum, Steel, Titanium, Phenolics), By Manufacturing Process (High Pressure Die Casting, Gravity Die Casting), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, Japan, India, South Korea, Australia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/automotive-brake-caliper-market

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