SELBYVILLE, Delaware, March 26: The research report "Automotive Brake Caliper Market Size By Vehicle (PCV, LCV, HCV, Two-Wheelers), By Product (Fixed, Floating), By Distribution channel (OEM, Aftermarket), 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 and Forecast, 2017 - 2024" by Global Market Insights, Inc. says Automotive Brake Caliper Market is set to cross USD 21 billion by 2024.
Mandatory installation of brake calipers across all vehicle segments owing to the stringent regulations regarding vehicle safety will primarily drive the industry growth over the forecast timeframe. They offer higher self-adjustment as compared to conventional systems, resulting in efficient functionality and instant stopping of the vehicle. Moreover, continuous advancements in vehicle safety features along with enhanced quality checks during manufacturing processes will further impact the automotive brake calipers market positively over the next eight years.
Fixed calipers are likely to acquire maximum volume share of over 85% by the end of 2024. Extensive usage of these calipers in high speed vehicles owing to provision of the benefits such as instant stopping of vehicle and rigid mounting will support the industry dominance. Floating calipers are expected to grow significantly owing to cost effectiveness as compared to the counterpart. Easy manufacturing is another factor responsible for the growth of automotive brake calipers market from floating calipers.
Substantially rising vehicle production across the globe has resulted in mass production of these brake calipers, stimulating the revenue generation. Automobile OEMs are highly dependent on the suppliers offering cost-effective products along with ensuring compliance with the regulatory norms. Intense competition among the industry participants has a significant impact on the price trend of the automotive brake calipers market. However, risk of manufacturing defects due to high requirement of precision may hamper the industry growth over the coming years.
Remanufacturing of product is an emerging trend that has gained traction among the automotive brake calipers market participants, especially in developed regions. This has led to considerable reduction in overall product cost and carbon footprint during production. Production of light weight aluminum calipers and enhanced fitment will further induce immense potential to the industry size till 2024.
Automotive brake calipers market from PCV will account for highest revenue share of over 60% over the forecast timeframe. Substantial automobile production across the globe will primarily contribute to the high revenue generation. Rising expenditure of consumers coupled with improvement in vehicle sales will further support the industry dominance. Two wheelers will grow significantly owing to high production of motorcycles and electric bikes, especially in developing countries.
Automotive brake calipers market from OEM will dominate the industry share owing to their mandatory installation in the vehicles. Substantial automobile production across the globe has resulted in increased foreign direct investments, especially in the developing countries will further support the industry dominance. Aftermarket will grow rapidly, witnessing over 3% CAGR from 2017 to 2024 owing to cost effective nature of the products as compared to the counterpart. Development of multi-piston calipers offering enhanced operations will further propel the industry growth.
Asia Pacific automotive brake calipers market will grow rapidly at over 3% CAGR from 2017 to 2024. Superior manufacturing facilities along with substantial vehicle production across the region will primarily support the regional growth. High demand from countries including China, India, and South Korea will further escalate the revenue generation. North America accounted for over USD 4.5 billion in 2016 and will grow significantly over the forecast timeframe. Product offering via online channels coupled with increasing sales of LCVs across the region will strengthen the industry penetration in the region. Rising adoption of disc brakes in PCVs will further foster the regional growth till 2024.
Continental, ZF Friedrichshafen, Apec Braking, ACDelco, Brembo, Akebono, and Mando are among the prominent participants in the automotive brake calipers market. Other noticeable players include Brakes International, Robert Bosch, Budweg, and WABCO. Business expansion is a key strategy adopted by the competitors to enhance their visibility in the industry. For instance, in 2017, Akebono planned to expand its manufacturing capacity for brake calipers, especially in Asia Pacific.
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