Automotive Brake Caliper Market size worth over $13 Bn by 2027
Published Date: September 13, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Automotive Brake Caliper Market Size is expected to exceed USD 13 billion by 2027, according to a new research study published by Global Market Insights Inc.
Brake caliper manufacturers are focusing on enhancing their market shares by improving product visibility. The manufacturers are offering products through online portals and by developing long-term supply agreements. They are improving the product presence by setting up manufacturing plants globally.
Auto parts suppliers are continuously looking for opportunities to improve customer interaction with aftermarket parts. Technological advancements are likely to maximize the convenience of customers. Developed internet & logistics infrastructure has been promoting the automotive brake caliper market growth. The expansion in the number of online distribution sites promotes business statistics.
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Implementation of enhanced vehicle safety systems owing to stringent safety regulations
Various governments have mandated the use of air disc brakes due to under vehicle stopping distance regulations, and hence manufacturers are improving the stopping distance and reducing the distance by 30%. The heavy-duty vehicles operate at a speed of 60 miles per hour, achieving the minimum braking distance laid by the regulatory bodies. Automotive brake caliper market will witness significant growth led by the development of these regulations. The development of these braking systems with reduced stopping distance will save around USD 169 million, considering the collision repairs.
The penetration for PCVs in Europe for disc brakes is already 100% for the rear axle. The traffic-stopping & starting is more frequent and the braking activity takes place more often. Vehicle OEMs are already installing disc brakes as a standard feature. The penetration of the disc brakes will improve as an option to the drum brakes.
Browse key industry insights spread across 250 pages with 354 market data tables & 36 figures & charts from the report, “Automotive Brake Caliper Market Size By Vehicle (Passenger Cars, LCV, HCV, Two-Wheeler), By Product (Fixed, Floating), By Piston Material (Aluminum, Steel, Titanium, Phenolics), By Manufacturing Process (High Pressure Die Casting, Gravity Die Casting), By Distribution Channel (OEM, Aftermarket), COVID19 Impact Analysis, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The passenger cars segment is poised to grow at over 4% CAGR in terms of volume through 2027. Various passenger cars utilize a single piston sliding caliper comprising only one large piston installed on the inboard side of the caliper, which is the entrance of hydraulic fluid. Increasing passenger cars production will maximize the automotive brake caliper market revenue generation. The innovative design of brake calipers, especially for high-performance cars is being developed with the purpose of significantly minimizing the on-track operating temperature, thereby raising system performance.
Rising automotive vehicle fleet to surge product demand
The aftermarket segment is expected to foresee growth rate of around 5% during 2021 to 2027 on account of increasing penetration of disc brake in automobiles. The aftermarket primarily depends on the customer preferences toward product cost and quality. The low cost of brake calipers will stimulate the market revenue by 2027. Additionally, aftermarket and remanufactured products offer similar quality as that of OEMs, further strengthening the industry statistics.
Europe automotive brake caliper market crossed USD 2 billion in 2020. Europe led by Germany, the UK, France, and Italy is anticipated to see a substantial growth through 2027 driven by large automotive production in these countries. Stringent regulations and standards focusing on reducing the braking distance particularly for commercial vehicles will fuel the market demand.
Germany is known for its innovation in the automotive sector. However ongoing Covid-19 pandemic is hampering the market for short term, for instance the European automotive industry has already observed a sharp decline in automotive production due strict lockdown in the prominent automotive production countries such as Germany and France. Moreover, government policies regarding removing the old stock of Euro-5 are also positively impacting the market.
Some of the major manufacturers in automotive brake caliper market are ACDelco, AISIN Group, Akebono, Alcon, Apec Braking, APG, ATL Industries, Automotive Brake Engineering, Bendix, Brakes International, Brembo, Budweg, Continental, Remy Automotive, Robert Bosch, and ZF.