The global market for brake calipers was valued at US$ 10.9 Bn in the year 2017 and is anticipated to reach US$ 14.2 Bn by the end of 2025, expanding at a sluggish CAGR of 3.3%. This market research company has considered 2017 as a base year to estimate the market size of brake calipers.
One of the most important parts in an automobile is a break. Failure in this system is not only dangerous for the driver but also for pedestrians and occupants. It causes remarkable economic loss to the vehicle as well and therefore this system is needed to be checked regularly and should be well-maintained for the road and vehicle’s safety. In short, brake calipers are the most essential and significant element in stopping the vehicle when it is required to stop.
Increasing research & development activities and innovation in technology to boost the global brake calipers market
This market has a tremendous scope in the research & development and in the department of innovation. An introduction of new and innovative technologies for the manufacturing of reliable parts and components of the braking system is mounting the growth of the worldwide brake calipers market. Some other updated technologies such as additive manufacturing or 3D printing have allowed manufacturers to create complex components and parts in comparatively less time and with ease, which is expected to create a positive impact on the global brake calipers market.
Growth and development in the automotive sector and consumer’s awareness about safety and comfort is one of the important factors that is boosting the global brake calipers market. In developed nations increasing disposable income and changing lifestyle have enabled consumers to use more than one vehicles that are always equipped with the powerful and flawless braking system. This rising use of vehicles is expected to create a robust development of the global brake calipers market in the years to come.
Increasing trend of adventure sports and racing such as off-road driving and dirt racing is likely to propel the growth of the brake calipers market across the globe in the years to come.
Global Brake Calipers Market: Segmental Analysis
The market is segmented into product type and application type. On the basis of product type, the global brake calipers market is segmented into 1 piston caliper, 2 piston caliper, and multi-piston caliper. On the other hand, based on application type, the market is segmented into a commercial vehicle and the passenger vehicle.
Luxurious lifestyle and rising per capita income to create a positive impact on the growth of brake calipers market in North America and Europe
High standard of living, increasing disposable income, and luxurious lifestyle have led to the growth of the brake calipers market in Europe and North America. Apart from this, developing nations in the Asia Pacific region, particularly China and India are expected to play an important role in the progress of brake calipers market in the near future. In countries like India and China, the basic mode of transportation is an automobile and therefore these two countries have great potential in the growth of brake calipers market in the upcoming years.
Global Brake Calipers Market- Key Players
Yuhuan Boyu, ZF TRW, K Sport, Continental, Alcon, Akebono, Qingdao Huarui, Brembo, Centric Parts, Aisin, LiBang, Bosch, Haldex, Mando, Wilwood, ACDelco, BWI, APG, Tarox, Nissin Kogyo, Meritor, Knorr-Bremse, Wabco and Huayu are some of the key players, functioning in the global brake calipers market.
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