Brake Caliper Market will generate admirable revenue by 2027
Category: #business  By Rahul Varpe  Date: 2022-11-23
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Brake Caliper Market will generate admirable revenue by 2027

The automotive brake caliper market is set to register substantial growth by 2027 on account of rising automotive sales worldwide. In addition, growing implementation of government regulations to reduce carbon emissions, is likely to boost market adoption as well.

Brake calipers are an essential part of a disc brake system, which facilitates the braking action, thereby enhancing the drivability and safety of the vehicle. Rising safety concerns have spurred leading enterprises to develop enhanced braking systems to ensure road safety, which has also consolidated market demand.

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Several key industry players are employing lucrative strategies to strengthen their foothold in the rapidly emerging market, favorably altering the business landscape. For instance, in May 2020, Germany-based automotive company, ZF Friedrichshafen AG, announced the acquisition of WABCO, a leading supplier of commercial vehicle technology. The acquisition has enabled the both the enterprises to combine their expertise to develop innovative commercial vehicle control systems technology and expand their product offering.

The automotive brake caliper market is segmented based on sales channel, product, vehicle, piston material, manufacturing process, and region.

With respect to vehicle, the market has further been categorized into LCV, HCV, two-wheeler, and passenger cars. The heavy commercial vehicle (HCV) segment is expected to amass significant gains by 2027, progressing at a CAGR of around 4% over the assessment period, due to application of drum brakes for both front and rear wheels, in HCVs.

Moreover, the brake caliper market in the HCV segment is still in its nascent stage as automakers have only recently started incorporating brake calipers in HCVs. Hence, the automotive brake caliper market from the HCV segment is foreseen to witness robust growth during the study timeline.

Based on piston material, the market has been bifurcated into steel, aluminum, phenolics, and titanium. The aluminum sub segment is projected to expand at 5% CAGR in terms of revenue over the forecast period. Prevalent product demand, owing to the various advantages offered by aluminum-made pistons including modern product design and low cost, is likely to fuel segmental expansion, in the coming years.

In terms of sales channel, the market has been segregated into aftermarket, OEM. The OEM sub segment is anticipated to account for almost 70% share of the industry by 2027, owing to increasing R&D activities undertaken by manufacturers to reduce wear and tear as well as improve brake calipers, by incorporating high-quality raw materials.

Additionally, the vital role played by OEMs in collaboration with manufacturers to enhance product quality and achieve customer expectation, is estimated to drive segmental expansion.

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From the regional perspective, the Middle East & Africa automotive brake caliper market is speculated to observe optimistic growth over the analysis period, as automobile component vendors are required to weigh the opportunities against the risks associated with prospective OEM dependence, legal conditions, and potential political instabilities.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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