Automotive Brake Calipers Market size worth $16bn by 2026
Published Date: June 15, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Automotive Brake Calipers Market size is set to surpass USD 16 billion by 2026, according to a new research report by Global Market Insights, Inc.
Automotive brake calipers industry is highly competitive and is at maturity phase, with a presence of large number of small to medium scale manufacturers. High performance materials including titanium calipers are available at prohibitive cost due to high raw material and production cost. Product manufacturers should invest in research & development of technologically advanced production process and raw materials to lower final cost of the product. Moreover, the market demand is highly dependent on the vehicle production as the aftermarket majorly comprises of repairing activities.
Growing need for the vehicle safety system owing to implementation of stringent regulations across the globe will drive the market demand. Government agencies such as Federal Motor Carrier Safety Administration (FMCSA), National Highway Traffic Safety Administration (NHTSA), etc. are working towards development of sustainable safety and emission norms for enhancing vehicle safety. Majority of automobile manufacturers are focusing on utilizing of disc brake to reduce stopping distance of a vehicle.
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Aluminum segment is predicted to expand at around 5% CAGR till 2026. Aluminum piston materials are gaining substantial attention due to their lower cost. These materials possess superior features such as, excellent tensile strength, high thermal conductivity, and lightweight.
LCV segment is poised to accelerate at a CAGR of over 4% during the forecast timeframe due to growth estimated in number of vans, pickup vehicles, etc. across the world. Stringent government norms related to automobile safety are pushing manufacturers to install brake calipers on the front wheels of the vans will be driving product usage in this segment.
Browse key industry insights spread across 225 pages with 367 market data tables & 8 figures & charts from the report, “Automotive Brake Calipers Market Size By Vehicle (passenger car, LCV, HCV, Two-Wheelers), By Product (Fixed, Floating/Sliding), By End-user (OEM, Aftermarket), By Piston Material (Aluminum, Steel, Titanium, Phenolics), By Manufacturing Process (High Pressure Die Casting, Gravity Die Casting), Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Aftermarket segment will witness substantial gains from 2020 to 2026. Disc brakes are gaining tremendous popularity in the automobile sector. Additionally, aftermarket products offer similar quality as that of OEMs, further strengthening the market penetration.
Floating brake caliper is expected to observe considerable growth through 2026 impelled by its lower popularity in the vehicle braking systems. Furthermore, the lightweight nature and availability at reasonable cost of floating calipers will boost the segment growth.
Gravity die casting is mainly utilized for making aluminum piston materials and will register growth rate of 5.4% over the next six years. These process offers advantages of dimensional accuracy, enhanced finishing and reduced cycle time.
North America automotive brake calipers market will hold the second largest revenue share during the forecast period. This can be attributed to increasing number of light commercial vehicles and on-road automobiles in the U.S. Additionally, the U.S. cumulative electric vehicle sales have been exceeded to more than 1 million units for the period 2010 to 2018. These figures are showcasing shifting consumer focus towards zero emission fuel automobiles, which will again propel the market growth.
However, the region might experience short term decline in the sales of automotive brake calipers owing to adverse impact of coronavirus pandemic on automobile sector. Major manufactures have announced to completely cease their auto production plants in North America, which can impact the market demand considerably over upcoming months.
The industry comprises of several manufacturers including Alcon Components Limited, Apec Braking, Bendix, Brembo, Centric Parts, Continental, K-Sport, Haldex brakes, and Knorr-Bremse.