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
Published Date: Apr 2018 | Report ID: GMI2336 | Authors: Vitika Verma, Amulya Agarwal Report Format: PDF
Automotive Brake Caliper Market size was valued at over USD 19.5 billion in 2016 and is estimated to exhibit over 3% CAGR from 2017 to 2024.
U.S. Automotive Brake Caliper Market, By Vehicle, 2016 & 2024, (Million Units)
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Stringent regulations regarding vehicle safety has led to mandatory installation of the product in PCV, LCV, HCV and two-wheelers. Self-adjusting of the system compared to conventional system offering efficient function and easy stopping of vehicle will drive the automotive brake caliper market share over the forecast timeframe. Consistent improvement in the safety features with superior quality checks performed during the manufacturing will positively influence the product penetration.
Product remanufacturing trend is gaining popularity particularly among manufacturers in developed regions. This results in overall cost and carbon footprint reduction during the production. Development of lightweight aluminium products along with superior fitment matching the OE demand will enhance the automotive brake caliper market size from 2017 to 2024.
Vehicle manufacturers are depending on the suppliers offering product at reduced cost along with matching the laid automotive standards. Superior competition among the producers has impacted the overall price trend of the product. Improving the overall production capacity may result in decrease in price impacting the revenue growth of industry.
Manufacturing product at large scale will allow automotive brake caliper participants to reduce gap between cost and focus on improving the supply chain of the product. Increasing global vehicle production with major share particularly from developing economies is attributed to increase product demand. Improvement in consumer spending, boosting vehicles sales are among the key factors driving the business growth.
Automotive Brake Caliper Market, By Vehicle
Automotive brake caliper market share from PCV will witness rapid growth of approximately 3% owing to increasing vehicle production. For instance, in 2017, global passenger cars production was 73.46 million units witnessing growth from 72.38 million units in 2016. Rising consumer spending along with improvement in PCV sales will further fuel the industry growth.
Automotive brake caliper market demand from LCV is expected to hold over 11% volume share by 2024. Mandatory installation of system particularly for the front wheels will positively influence the product penetration during the forecast timeframe. Shifting trends towards disc brakes will significantly reduce the manufacturing cost of the product.
Two-wheelers brake caliper market size will witness significant growth over the study timeframe. The growth can be credited to increasing production of the electric bikes and motorcycle particularly in emerging countries. Rising adoption of the product owing to reduced braking distance and instant stopping will fuel the industry demand.
Automotive Brake Caliper Market, By Product
In 2016, fixed automotive brake caliper market is anticipated to hold over 87% volume share. Superior performance of the product over the counter part offering quick stopping of vehicle particularly for high speed applications will drive the product demand. Rigid mounting of the caliper offering superior stiffness is the key factor manifesting enhanced performance.
Floating automotive brake caliper market is expected to witness significant growth during the forecast timeframe. The growth can be attributed to low cost of the product along with ease in manufacturing. Industry players are focusing on improving product visibility particularly for aftermarket.
Automotive Brake Caliper Market, By Distribution Channel
OEM dominates the volume share of the automotive brake caliper market owing to mandatory installation of the product in the vehicles. Growth in automotive production along with increasing trend towards capacity utilization will fuel the industry growth. Increasing FDI particularly in the emerging economies owing to availability of the resources and superior profit margins.
Aftermarket will witness rapid growth at over 3% during forecast timeframe. The growth can be credited to superior performance along with OEM offering life guarantee of 60,000 miles or 100,000 kilo meters. In addition, competitive price of the product compared to OEM will further boost the business growth. Development of multi-piston automotive brake caliper offering enhanced braking operation will improve the product penetration.
Automotive Brake Caliper Market, By Piston Material
Automotive brake caliper market from steel is likely to dominate the industry with over 40% revenue share by the end of 2024. This dominance can be attributed to the provision of cost-effective solutions as compared to the counterparts and easy availability. Moreover, steel poses various mechanical properties such as high durability, corrosion resistance, hardness, etc., owing to which it is suitable to be used in all vehicles.
Phenolics are anticipated to grow rapidly, exhibiting over 3.5% CAGR from 2017 to 2024 primarily owing to availability of vast range of variants. Exceptional properties such as lightness, which will enhance fuel efficiency, heat resistance, and impart high strength will further attract the manufacturers, positively impacting the revenue generation. Moreover, they can withstand high compression stress, resulting in increased product sales till 2024
Automotive Brake Caliper Market, By Manufacturing Process
High pressure die casting will acquire over 75% volume share till 2024. It can be attributed to high usage of this process for production of steel calipers. Moreover, provision of the benefits such as enhanced surface finish, ability to deliver compact structure, and easy material availability will further support the market from high pressure die casting.
Automotive brake caliper market from gravity die casting will grow significantly, witnessing around 4% CAGR over the next eight years. The substantial growth is credited to its major benefit of high production rate. This process is highly used to produce aluminum calipers and offers dimensional accuracy, further strengthening the product penetration till 2024.
Automotive Brake Caliper Market, By Region
North America led by the U.S. generated over USD 5.2 billion in 2016. Increasing vehicle parc along with rising sales of LCV will boost the product demand in the region. Product offering through e-commerce channels will improve the product visibility. In addition, superior penetration of disc brakes for passenger car in the region will drive the automotive brake caliper market size over the forecast timeline.
Europe market led by Germany, Spain, Russia, France and UK will show significant growth at over 2% during the forecast timeframe. Stringent regulations focusing on safety of the vehicle with mandatory installation particularly for front wheels are the key factors for product growth. Innovations in the product with development of ABS and EBS are further improving the functionality of the braking systems.
Asia Pacific led by China, Japan, South Korea and India is poised to grow at over 3% up to 2024. Availability of the resources, superior production facility, increasing vehicle production are among the key factors driving the automotive brake caliper business growth. In 2017, China vehicle production accounted over 29.01 million units comprising of PCV, LCV and HCV witness growth over 3% from 2016.
Competitive Market Share
ACDelco, Akebono, Apec Braking, Brembo, Continental, Mando and ZF Friedrichshafen are among the notable players in the automotive brake caliper market. Improving the production along with developing the supply agreement with vehicle manufacturers are among key strategies of the industry participants. For instance, in 2017, Akebono is focusing on improving the production capacity for the brake caliper particularly in Asia.
Few other prominent players are WABCO, Robert Bosch, Budweg, Brakes International and ATL Industries. Significant revenue generation the product from aftermarket has resulted in increasing focus of the manufacturers towards this business segment. Merger and acquisitions are among prime strategies adopted by the industry players. For instance, in 2015, ZF Friedrichshafen acquired TRW to improve its presence in aftermarket industry.
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Automotive brake caliper penetration is boosting owing to increasing adoption of disc brakes. Disc brake offers easy maintenance of the product along with better stopping compared to drum braking system. In addition, superior mechanical efficiency compared to the counterparts will improve the product penetration. Improving the trade of the product will further improve the industry demand.
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