The automotive brake caliper market was valued at USD 8.28 billion in 2021, and it is estimated to record a CAGR of 3.5% during the Forecasts period (2022-2027).
In 2020, demand for new motor vehicles was negative. Governments imposed several potential rules and regulatory frameworks that affected the manufacturing of automotive fleets. Production houses were shut down, and the workforce was restricted. Thus, the year showcased a steady decline in automotive sales. However, after Q2 FY21, automotive sales showcased a positive growth trend and registered demand for brake calipers worldwide.
The demand is mainly attributed to increasing concerns toward vehicle safety, growing adoption of disc brakes in vehicles over drum brakes, governments’ vehicle safety norms, and growth in global vehicle production. These factors are also anticipated to boost the market’s growth during the Forecasts period.
The gradual shift toward lightweight and composite materials to produce lighter vehicles for electric and hybrid vehicles and develop advanced braking systems for upcoming vehicles are expected to boost the market’s growth. Government regulations and standards have mainly contributed toward the adoption of brake calipers in vehicle safety modules. In the United States, Federal Motor Vehicle Safety Standards (FMVSS) 105, 126, and 135, issued by the National Highway Traffic and Safety Administration/Department of Transportation (NHTSA/DOT), apply to only new vehicles. They do not apply to aftermarket replacement brake linings.
The FMVSS standards are designed to assure that new vehicles can stop within a certain distance, which is deemed necessary for safe driving. Currently, FMVSS 135 and 126 standards are applied to new cars and most vehicles on the road. Compared to the earlier FMVSS 105 standard, FMVSS 135 requires ~25% reduction in pedal effort for the same stopping distance.
In 2020, almost 77.9 million motor vehicles were produced worldwide, reflecting a steady drop of 15.8% compared to FY19. China, Japan, and Germany were the largest producers of cars and commercial vehicles in 2020. As consumers are gaining awareness about the advanced safety features and technologies, they are showing interest in improving the safety systems of their vehicles. This factor may boost the market’s growth during the Forecasts period.
The automotive brake caliper market is driven by research, development, and innovation as new technologies are being discovered to manufacture reliable braking parts and components, which can be mounted with perfection in an automobile. Some key players such as Honda, BMW, Toyota, Mercedes-Benz, and Nissan aspire to offer the best braking systems to help vehicles stop at minimum distance and time without any jerks and shocks to the passenger inside. 3-D printing and additive manufacturing have allowed manufacturers to produce complex parts and components. Growth in adventure sports and racing is expected to fuel the growth of the brake caliper market.
Fixed brake calipers are expected to be in high demand as they offer the advantage of residual torque and weight reduction to the vehicles. The growing need for high-performance and low-carbon-emitting vehicles will fuel the need for fixed brake calipers. High pressure die casting process is likely to gain significant momentum in the industry as it is extensively used in making steel calipers.
The Chinese economy is growing, along with the disposable income of middle-class consumers. This growth reflects positively on the growing demand for vehicles. Over the past five years, vehicle production has increased drastically due to low production costs in the country. Moreover, the Chinese government has cut down the taxes on cars to increase their sales. China is also one of the largest exporters of automobiles and automotive components. Increasing car production in the region is expected to boost the market’s growth. Chinese automotive exports are heavily influenced by the global economy and environmental regulations. Recent changes in the rules worldwide have had little impact on sales growth.
According to the China Association of Automobile Manufacturers, the largest car market in the world, i.e., China, grew by 3.8% Y-o-Y after a monthly sales of 2.7 million vehicles in December Q4 FY21 and brought total sales to 26.2 million.
In addition, Chinese car brands enjoy a notable advantage over imported cars from international automobile manufacturers. Thus, other developing countries and emerging markets were the main export destinations for Chinese vehicle exports. With rules and regulations changing worldwide, demand for lightweight metals is increasing.
China, the world's biggest producer and consumer of aluminum, produced 2.97 million ton of metal in March 2020 alone. The production increased by 2.3% Y-o-Y. This factor, along with low labor cost and high technology manufacturing, is expected to boost the market’s growth during the Forecasts period.
The automotive brake caliper market is moderately consolidated. Key market players are Brembo SpA, Continental AG, Robert Bosch, and ZF Friedrichshafen. The market is highly competitive and has many large- and small-scale manufacturers. Strategic agreements, new product developments, and collaboration have been adapted as the main strategies for business development. Manufacturers have adopted constructive partnership and merger strategies to gain traction in their current market share. Further, companies are identifying regions with high demand and supply gaps to cater to the demand.
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In 2020, demand for new motor vehicles was negative. Governments imposed several potential rules and regulatory frameworks that affected the manufacturing of automotive fleets. Production houses were shut down, and the workforce was restricted. Thus, the year showcased a steady decline in automotive sales. However, after Q2 FY21, automotive sales showcased a positive growth trend and registered demand for brake calipers worldwide.
The demand is mainly attributed to increasing concerns toward vehicle safety, growing adoption of disc brakes in vehicles over drum brakes, governments’ vehicle safety norms, and growth in global vehicle production. These factors are also anticipated to boost the market’s growth during the Forecasts period.
The gradual shift toward lightweight and composite materials to produce lighter vehicles for electric and hybrid vehicles and develop advanced braking systems for upcoming vehicles are expected to boost the market’s growth. Government regulations and standards have mainly contributed toward the adoption of brake calipers in vehicle safety modules. In the United States, Federal Motor Vehicle Safety Standards (FMVSS) 105, 126, and 135, issued by the National Highway Traffic and Safety Administration/Department of Transportation (NHTSA/DOT), apply to only new vehicles. They do not apply to aftermarket replacement brake linings.
The FMVSS standards are designed to assure that new vehicles can stop within a certain distance, which is deemed necessary for safe driving. Currently, FMVSS 135 and 126 standards are applied to new cars and most vehicles on the road. Compared to the earlier FMVSS 105 standard, FMVSS 135 requires ~25% reduction in pedal effort for the same stopping distance.
In 2020, almost 77.9 million motor vehicles were produced worldwide, reflecting a steady drop of 15.8% compared to FY19. China, Japan, and Germany were the largest producers of cars and commercial vehicles in 2020. As consumers are gaining awareness about the advanced safety features and technologies, they are showing interest in improving the safety systems of their vehicles. This factor may boost the market’s growth during the Forecasts period.
Key Market Trends
Fixed Brake Calipers are Expected to be in High Demand
The automotive brake caliper market is driven by research, development, and innovation as new technologies are being discovered to manufacture reliable braking parts and components, which can be mounted with perfection in an automobile. Some key players such as Honda, BMW, Toyota, Mercedes-Benz, and Nissan aspire to offer the best braking systems to help vehicles stop at minimum distance and time without any jerks and shocks to the passenger inside. 3-D printing and additive manufacturing have allowed manufacturers to produce complex parts and components. Growth in adventure sports and racing is expected to fuel the growth of the brake caliper market.
Fixed brake calipers are expected to be in high demand as they offer the advantage of residual torque and weight reduction to the vehicles. The growing need for high-performance and low-carbon-emitting vehicles will fuel the need for fixed brake calipers. High pressure die casting process is likely to gain significant momentum in the industry as it is extensively used in making steel calipers.
Asia-Pacific is Expected to Hold a Major Share in the Market
The Chinese economy is growing, along with the disposable income of middle-class consumers. This growth reflects positively on the growing demand for vehicles. Over the past five years, vehicle production has increased drastically due to low production costs in the country. Moreover, the Chinese government has cut down the taxes on cars to increase their sales. China is also one of the largest exporters of automobiles and automotive components. Increasing car production in the region is expected to boost the market’s growth. Chinese automotive exports are heavily influenced by the global economy and environmental regulations. Recent changes in the rules worldwide have had little impact on sales growth.
According to the China Association of Automobile Manufacturers, the largest car market in the world, i.e., China, grew by 3.8% Y-o-Y after a monthly sales of 2.7 million vehicles in December Q4 FY21 and brought total sales to 26.2 million.
In addition, Chinese car brands enjoy a notable advantage over imported cars from international automobile manufacturers. Thus, other developing countries and emerging markets were the main export destinations for Chinese vehicle exports. With rules and regulations changing worldwide, demand for lightweight metals is increasing.
China, the world's biggest producer and consumer of aluminum, produced 2.97 million ton of metal in March 2020 alone. The production increased by 2.3% Y-o-Y. This factor, along with low labor cost and high technology manufacturing, is expected to boost the market’s growth during the Forecasts period.
Competitive Landscape
The automotive brake caliper market is moderately consolidated. Key market players are Brembo SpA, Continental AG, Robert Bosch, and ZF Friedrichshafen. The market is highly competitive and has many large- and small-scale manufacturers. Strategic agreements, new product developments, and collaboration have been adapted as the main strategies for business development. Manufacturers have adopted constructive partnership and merger strategies to gain traction in their current market share. Further, companies are identifying regions with high demand and supply gaps to cater to the demand.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- ZF Friedrichshafen AG
- Automotive Brake Engineering (ABE)
- Continental AG
- Brakes International
- Brembo SpA
- Akebono Brake Corporation
- Centric Parts
- Wilwood Engineering Inc.
- EBC Brakes
- Apec Braking
- ATL Industries
- Robert Bosch GmbH
Methodology
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