Market Trends of Automotive Brake Caliper Industry
Fixed Brake Calipers are Expected to be in High Demand
The automotive brake caliper market is driven by research, development, and innovation. New technologies are being discovered to manufacture reliable braking parts and components that can be incorporated well into 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 expansion of the brake caliper market.
Fixed brake calipers are expected to be in high demand as they offer advantages like weight reduction and residual torque to vehicles. The growing demand for high-performance and low-carbon-emitting vehicles is expected to fuel the need for fixed brake calipers. The high-pressure die-casting process is likely to gain significant momentum in the industry as it is extensively used in making steel calipers.
With the growing automotive demand, brake caliper manufacturers are working to provide new offerings and technologies to the market. For instance, in November 2023, Neotech revolutionized automotive performance with the launch of an advanced 6 Piston Brake Caliper at SEMA 2023.
Asia-Pacific is Expected to Hold a Major Share in the Market
Asia-Pacific is expected to hold a major share of the market studied during the forecast period. The regional growth is mainly driven by the top-producing automotive countries like India, China, and Japan. Moreover, the growing demand for passenger vehicles in these markets is due to the growing disposable income of the population, the rising automotive industry, the growing availability of loans and funding to purchase new vehicles, and many others.
For instance, the Indian automotive industry is dominated by passenger car sales, which include small and midsized cars. The total number of automobiles exported stood at 42,85,809 in the previous year.
Automotive brake calipers play an important role in vehicles as they are complex arrangements of components with the sole objective of slowing down or bringing the vehicle to a complete stop.
Therefore, as per the above-mentioned factors, Asia-Pacific is expected to hold the largest market share in the automotive industry, thereby boosting the demand for automotive brake caliper market.
