Rockville, March 14, 2023 (GLOBE NEWSWIRE) -- The market for automobile brake calipers is expected to reach US$ 13 billion in sales by the end of 2033 from its current estimated value of US$ 9.3 billion in 2023. Over the next ten years, sales of vehicle brake calipers are expected to increase globally at a 3.4% CAGR.
A automotive brake caliper is an auto part that houses brake cushions and powerfully controls brake execution. The part likewise houses brake cylinders, shims, locking bolts, and so on. The caliper houses the system that pushes car brake cushions against the brake rotor to stop the vehicle.
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Key Takeaways from Market Study
- The global automotive brake caliper market stands at US$ 9.3 billion in 2023.
- Sales of automotive brake calipers are set to secure a revenue of US$ 13 billion by 2033-end.
- Worldwide automotive brake caliper demand is predicted to rise at 3.4% CAGR over the next ten years
Growing focus on vehicle safety, rising automotive production, and increasing sales of vehicles are key market drivers.
Report Attributes | Details |
| Forecast Period | 2023 - 2033 |
| Value Projection (2032) | US$ 13 Billion |
| Growth Rate (2022-2032) | 3.4% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 123 Tables |
| No. of Figures | 99 Figures |
Why Should American Automotive Brake Caliper Firms Invest?
“Surging Sales of Luxury Cars to Boost Demand for Automotive Brake Components”
Due to rising car sales and expanding auto production, the United States is a very alluring market for automobile manufacturers. The country's implementation of strict road and vehicle safety regulations is also anticipated to enhance sales of cutting-edge automotive braking systems and parts such lightweight brake callipers, brake rotors, brake boosters, etc.
American makers of automotive components are concentrating on enhancing their customer service and broadening the scope of their operations. Remanufacturing is another option that businesses are choosing to strengthen sustainability and boost their brand recognition.
- In January 2023, Meritor, an American automotive component manufacturer, announced the extension of warranty on its remanufactured brake calipers to two years without a limit on the range.
- In 2020, Motorcar Parts of America Inc., a leading provider of aftermarket components, announced that remanufacturing operations of brake calipers had started at its facilities located in Tijuana, Mexico. The company had plans to expand its operations through this new facility.
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Key Companies Profiled in Automotive Brake Caliper Market Report
- Akebono Brake Industry Co.
- Brembo S.p.A
- TRW Automotive
- Continental AG
- Mando Corp.
- ZF Friedrichshafen
- Apec Braking
- Budweg
- WABCO
- Aisin Seiki Co. Ltd.
Key Drivers:
- The increasing demand for vehicles, particularly in emerging markets, is driving the growth of the automotive brake caliper market. As more people buy cars, the demand for brake calipers also increases.
- Governments and regulatory bodies across the globe are mandating strict safety regulations for vehicles, which includes requirements for braking systems. This is driving the demand for advanced brake calipers that can meet these regulations.
- Customers are increasingly demanding better performance from their vehicles, which includes improved braking. This is driving the demand for high-performance brake calipers that can provide better stopping power and improved handling.
- The automotive industry is constantly innovating and improving the technology used in vehicles, including braking systems. This is leading to the development of more advanced and efficient brake calipers that can improve overall vehicle performance and safety.
LatestTrends:
- The automotive industry is increasingly using lightweight materials in vehicles, which includes brake calipers. This trend is driven by the need to improve fuel efficiency and reduce emissions while maintaining safety and performance.
- With the increasing popularity of electric and hybrid vehicles, there is a need for specialized brake calipers that can meet the unique requirements of these vehicles. This includes regenerative braking systems and lightweight materials to improve efficiency.
- The automotive industry is adopting more advanced braking systems, such as electronic stability control, anti-lock braking systems, and brake-by-wire systems. This is driving the development of more advanced brake calipers that can integrate with these systems.
- There is a growing demand for high-performance vehicles, particularly in the luxury and sports car segments. This is driving the demand for advanced brake calipers that can provide better stopping power and improved handling.
Restraints:
- The cost of brake calipers can be relatively high, particularly for advanced or specialized systems. This can make it difficult for manufacturers to offer competitive pricing for their vehicles, and can also limit the adoption of advanced braking systems by consumers.
- The aftermarket for brake calipers is relatively limited, as they are typically replaced as part of larger braking system repairs. This can limit the growth potential for companies that specialize in manufacturing brake calipers.
- The demand for brake calipers is largely dependent on the overall health of the automotive industry. Economic downturns, shifts in consumer preferences, and other factors can all impact demand for vehicles and, in turn, demand for brake calipers.
- The development and manufacturing of brake calipers must comply with strict safety and environmental regulations, which can create additional costs and delays. This can make it more difficult for manufacturers to innovate and introduce new products to the market.
Competitive Landscape:
Key players in the market are focusing on various strategies including new product launches. Also, market players are putting emphasis on reducing the weight of their products and making them more compliant with the recent sustainability goals.
For instance:
- In 2022, Knorr-Bremse AG had introduced a new product (Active Caliper Release) in a show in Germany.
- Moreover, In November 2022, Continental AG introduced that it is putting emphasis on the upgrade of Green Caliper brakes for electric vehicle applications.
- In 2021, ZF Friedrichshafen launched the "ZF ProAI" brake caliper, which features integrated sensors and a compact design. The caliper is designed to provide real-time feedback on braking performance and reduce overall weight.
- In 2021, Continental AG launched the "MK C1" brake caliper, which combines the brake booster and master cylinder into a single compact unit. The caliper is designed to improve braking performance and reduce weight.
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Automotive Brake Caliper Industry Research Segmentation
- By Vehicle :
- PCVs
- LCVs
- HCVs
- By Product Type :
- Fixed
- Sliding
- By Piston Material :
- Steel
- Aluminum
- Titanium
- Phenolics
- By Sales Channel :
- OEMs
- Aftermarket
Explore More Related Studies Published by Fact.MR Research:
Automotive Brake Components Market: The global automotive brake components market is forecast to expand at a CAGR of 4.2% to reach a valuation US$ 75.6 billion by 2032.
Automotive Brake Shims Market: Growing demand for passenger cars coupled with increasing awareness toward safety are the reason behind accelerated demand for disc brakes in automobiles which in turn is expected to fuel the growth of automotive brake shims market.
Automotive Brake Friction Materials Market: The growing demand for automotive brake friction materials, mainly from the automotive industry, is due to the adoption of disc brakes to enhance the braking system in vehicles.
Automotive Brake Rotors Market: The vital driving variable of the worldwide auto brake rotors market contains quickly developing populace, which has brought about the developing interest for premium, as well as non-premium vehicles, across every single significant economy.
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