Sellbyville, Delaware, April 19, 2018 (GLOBE NEWSWIRE) --
Automotive Brake Caliper Market is expected to reach USD 25 billion by 2024; according to a new research report by Global Market Insights, Inc. Mandatory installation of brake caliper 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 caliper market positively over the next eight years.
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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Substantially rising vehicle production across the globe has resulted in mass production of these brake caliper, 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 caliper 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 caliper 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 caliper 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 caliper 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 caliper offering enhanced operations will further propel the industry growth.
Browse key industry insights spread across 450 pages with 767 market data tables & 11 figures & charts from this 2018 report Automotive Brake Caliper Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/automotive-brake-caliper-market
Steel is expected to dominate the automotive brake caliper market with over 40% share over the forecast timeframe. The material possesses excellent mechanical properties including corrosion resistance, durability, and stiffness, due to which, it is highly preferred by the industry participants. Moreover, cost effectiveness as compared to the counterparts will further support the material’s dominance till 2024. Phenolics will gain high momentum, exhibiting over 3.5% CAGR owing to benefits such as high strength, lightweight, etc.
Automotive brake calipers market from high pressure die casting will capture major share over the next eight years. The high revenue generation is credited to increasing deployment of the process in production of steel calipers. Easy availability of raw materials along with better surface finish will further support the industry dominance. Gravity die casting will witness 4% CAGR from 2017 to 2024. It is used to manufacture aluminum calipers and provides high dimensional accuracy, propelling the industry growth.
Asia Pacific automotive brake caliper 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 caliper, especially in Asia Pacific.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.