Automotive Brake Caliper Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Italy, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2017 – 2024
Report ID: GMI2336
Automotive Brake Caliper Market size is anticipated to showcase robust growth rate till 2024 owing to increasing vehicle demand worldwide. Brake systems are the most important components of vehicle for stopping or slowing down vehicle at same instance. These brake calipers are expected to showcase increased demand owing to rising safety & security concerns around the world.
Stringent government policies regarding vehicle safety has led to mandatory installation of these brake calipers, escalating the revenue generation. Technological advancements for safe and secure driving such as floating brake calipers have paved opportunistic way for the industry participants. Heavy commercial vehicles are also equipped with brake drums in their braking systems owing to their high requirement of speed control.
Manufacturers focus on usage of enhanced brakes in their products. Commonly used materials include aluminum or chrome plated steel, ceramic, and metallic are widely used in manufacturing processes. The weight to strength ratio is of high importance in vehicles. Focus towards developing advanced products has resulted in increasing demand of high grade aluminum materials. This is expected to further propel the demand for automotive brake caliper market share over the forecast period.
Passenger vehicle demand is expected to grow due to affordable vehicle prices in developing countries, further inducing immense potential to the industry size till 2024. Growth in the sales of passenger cars such as SUV and light trucks have gained momentum worldwide. Surging demand of light commercial vehicles due to increase in disposable income in developing countries like Africa, Brazil and India, is expected to increase automotive brake caliper market share over the coming years.
Based on product, brake caliper market can be categorized into floating caliper and fixed calipers. Fixed calipers are expected to dominate the market size over the forecast timeframe. They are majorly deployed in passenger cars SUVs, electric cars, two wheelers and premium bikes. They allow instant stoppage of vehicle speed on road side. These advantages will instigate immense growth potential to the segment’s size till 2024.
By end user, the industry can be segmented into two-wheeler, light commercial vehicles and passenger cars. Two-wheeler holds major market share in the industry and is expected to continue the same owing to high deployment of floating brake calipers. Majority of the two wheelers are equipped with rotating floating calipers. Rising penetration of two-wheelers in developing countries including Brazil, China and India is likely to boost automotive brake caliper market revenue over the forecast timeline. Passenger cars will exhibit rapid growth owing to substantial production of these vehicles across the globe. In 2016, more than 96 million units of passenger vehicles were sold in market across the world.
Asia Pacific is estimated to dominate the overall industry size owing to wide usage automotive metal across the region. According to Society of Automobile manufacturers in India and China, these emerging economies are witnessing high growth of vehicle sale. This will result in increased production of these calipers, further supporting the region’s dominance till 2024.
Europe is expected to witness robust growth rate due to presence of numerous vehicle component manufacturers across the region. Surging demand for these vehicles is expected to fuel the automotive brake caliper market revenue over the next eight years. North America is expected to witness growth over the forecast timeframe owing to strong presence of passenger cars and commercial vehicles across the region. Affordable vehicle prices coupled with rising disposable income will boost the product demand in North America, further contributing significantly in the automotive brake caliper market share over the forecast timeframe.
Automotive Brake Engineering, Brakes International, Brembo S.p.A., Wilwood Engineering Inc., Apec Braking, and ATL Industries are among the prominent automotive brake caliper manufacturing companies. Centric Parts, TRW Automotive, Continental AG, and EBC Brakes are other promising vendors that contribute significantly in automotive brake caliper market. The industry participants are focusing on strengthening their distribution channel to enhance their visibility among consumers.
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