Sellbyville, DE -- (SBWire) -- 02/12/2019 --Automotive Brake Caliper Market is estimated to exhibit over 3% CAGR with USD 25 billion by 2024. Fixed caliper are likely to acquire maximum volume share of over 85% by the end of 2024. Extensive usage of these caliper 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 caliper 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 caliper.
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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.
Speaking of the regional growth prospects of automotive brake caliper market, the Asia Pacific territory has been one of the most fruitful in terms of expanding the sphere of influence of this business space. The rise of the middle-class population with the increasing disposable incomes have made consumers more inclined toward leading a luxurious lifestyle. This has, in consequence, led to a spurt in the sales of automobiles across emerging economies such as India, China, Japan, and South Korea. Apparently, these developing nations are forecast to contribute majorly toward the Asia Pacific automotive brake caliper industry which is set to grow at a CAGR of 3% over 2017-2024.
Powered by the rapidly expanding automotive industry across myriad geographies, automotive brake caliper market has indeed gained tremendous popularity in recent times. The automotive sector is also rife with a plethora of highly unique innovations that have undeniably had an impact on this business sphere. Indeed, given the pivotal significance of braking systems, technological advancements form the crux of automotive brake caliper industry. Recently for example, Brembo unveiled an aesthetically revolutionary brake caliper at the 2018 NY Auto Show. Apparently, this product helped achieve substantial weight savings – around 400 g per wheel. Brembo's product launch is indicative of the fact that automotive brake caliper market will continue to be characterized by highly innovative solutions that would optimize performance and improve aesthetics.
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Stringent safety and environmental policies have encouraged technological advancements in the automotive brake caliper market of late. For instance, the French auto manufacturer Bugatti has brought forth a unique innovation in automotive brake caliper industry with the use of 3D printing to print titanium brake calipers. Incidentally, 3D printing of brake calipers helps in reducing the overall weight of the vehicle while maintaining torsional stiffness – a highly sought-after parameter in the automotive industry today. Traditional aluminum alloy brake calipers on Bugatti vehicles weigh 4.9 kg each, however, 3D printing of brake calipers makes each caliper weigh just 2.9 kg, which goes a long way in reducing overall vehicle weight and meeting environmental regulations.
Though 3D printing of brake calipers has not yet become a mainstream procedure owing to the time-consuming nature of the process, the concept has gained sufficient traction. Other methodologies for the reduction of caliper mass, improved styling and performance maintenance are also being researched currently to reduce particulates and carbon emission in the atmosphere.
The emergence of electric vehicles and hybrids is expected to add a new vertical to automotive brake caliper industry, as these vehicles will invariably use a whole new braking system that has little resemblance with the conventional braking system. With the introduction of the Tesla Model 3, electric passenger cars are poised to become the dominant trend for the future. It is rather overt that such cars are being designed to have only one paddle for moving or stopping the vehicle. While the brake system will not be made entirely obsolete, it is certain to undergo some highly innovative changes, that would certainly have an influence on automotive brake caliper market outlook.
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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 caliper, especially in Asia Pacific.
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