The automotive brake caliper market revenue is expected to reach $13 billion by 2027, according to new research from Global Market Insights Inc.Automakers making more fuel-efficient vehicles are driving the growth of the brake caliper market over the forecast period.
Many brake caliper manufacturers are working to reduce the overall weight of brake units by developing solutions to reduce vehicle consumption and the resulting carbon emissions and particulate matter.These solutions may include the use of methods to reduce caliper mass and improve caliper function without minimizing performance by defining new characteristics of piston and seal pairings and new concepts for optimizing pad sliding systems.Innovation and research activities enable industry players to stay afloat amid fierce competition, thereby driving the growth of the automotive brake caliper market.
The floating brake caliper segment will witness a CAGR of over 3.5% in the automotive brake caliper market.Floating brake calipers are unlikely to be adopted by automakers and its market share in the global automotive brake caliper industry is expected to decline over the forecast period.The floating caliper movement is an in and out movement.This type of rotor has at most two pistons inside.The current development of floating disc brakes appears to be focused on resulting in lower growth rates compared to fixed types.
North America accounted for over 20% of the automotive brake caliper market revenue in 2020.This is mainly due to high demand in developed countries such as the United States.The high demand was attributed to an increase in the number of vehicles on the road and an increase in the sales of light commercial vehicles.Growing popularity of disc brakes in passenger cars will further drive revenue generation.Strong distribution channels, offering products through online platforms is another factor to increase product awareness over the forecast timeframe.
Major players in the automotive brake caliper market are focusing on collaborations or partnerships with car manufacturers for product development and direct sales of the products.
Post time: Jan-10-2022