Automotive brake caliper market from aftermarket will witness more than 3% CAGR from 2017 to 2024. This can be credited to cost effectiveness offered by the channel. OEMs will acquire maximum revenue share owing to installation of brake calipers during the vehicle manufacturing. Increasing production of two-wheelers, passenger and commercial vehicles across the globe has led to an upsurge in FDIs in emerging economies, further contributing towards the revenue generation.
Automotive brake caliper market from floating calipers is likely to grow rapidly owing to their rising usage due to benefits including easy & fast production and cost effectiveness. Remanufacturing of these calipers is an emerging trend in automotive brake caliper market that has gained traction among the competitors, particularly in developed regions. It has resulted in significant reduction in carbon footprint and overall cost of the calipers. Manufacturing of aluminum calipers along with better fitment is another trend that will instigate immense growth potential to the industry till 2024.
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Speaking along similar lines, the increasing demand for automobiles among the middle-class consumers has led to a significant requirement of passenger carrying vehicles. For instance, in 2017 alone, 73.46 million units of PCVs were sold – a marked increase of 1.08 million units. Driven by the increased consumer spending and the subsequent rise in vehicle production, automotive brake caliper market size from PCVs is expected to increase by 3% over 2017-2024.
The automotive industry has registered an extremely appreciable CAGR in the Asia Pacific region since the last decade or so. This growth can be essentially credited to the rise of the middle-class populace with increasing disposable incomes and a growing inclination toward leading a more comfortable lifestyle. Due to the presence of affordable and efficient production facilities and increased rate of automobile production, Asia Pacific automotive brake caliper market is poised to grow by 3% over 2017-2024. China, India, Japan, and South Korea are projected to be the major contributors toward this regional market, powered by the enhanced automotive manufacturing technologies now prevalent across these economies.
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.
Research & development programs are rampant across the automotive industry of late and are likely to majorly transform automotive brake caliper market trends. With the robust growth of automated technologies and the increasing requirement for better mobility, automakers are leaving no stone unturned to bring forth newer and enhanced brake systems. Industry players are focusing on expanding their business to enhance their visibility among the customers. AlDelco, Continental, Akebono, Brembo, Mando Corporation, Apec Braking, and ZF Friedrichshafen are among the noticeable automotive brake caliper market players. Other prominent participants include Robert Bosch, Budweg, WABCO, and Brakes International.
Browse key industry insights spread across 450 pages with 767 market data tables & 11 figures & charts from the report, Automotive Brake Caliper Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/automotive-brake-caliper-market
Major Table of Content: –
Chapter 5 Market, By Product
5.1 Market share by product, 2016 & 2024
Chapter 6 Market, By Distribution Channel
6.1 Market share by distribution channel, 2016 & 2024
Chapter 7 Market, By Piston Material
7.1 Market share by piston material, 2016 & 2024
Chapter 8 Market, By Manufacturing Process
8.1 Market share by manufacturing process, 2016 & 2024
8.2 High pressure die casting
8.3 Gravity die casting
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