Automotive Brake Caliper Market Overview:
The global automotive brake caliper market. As per the researchers, the market is likely to expand at a CAGR of 3.8% during the review period. The growing collaboration between OEMs and automotive caliper industry to develop the aftermarket sector is estimated to prompt the global automotive brake caliper market 2023. Also, the surge in the sales and manufacturing of commercial automobiles across the world is projected to be another important factor in augmenting market strength. Besides, the increasing construction and mining activities are another pivotal factor leading to market expansion. Benefits such as cheaper maintenance cost of the system are likely to play a crucial role in market growth.
Further, the growing concern with respect to the safety of passenger and commercial vehicles is estimated to augment the market. It is notable here that the countries such as India, China, and Germany are witnessing a rise in disposable income which is estimated to bring a direct expansion in the market. Also, other factors such as rapid urbanization, developing automotive brake caliper industry, and the burgeoning technical advancement is anticipated to develop the market significantly. Further, the emerging economies are estimated to pose a conducive environment for the growth of the global market during the assessment period. However, the widening stopping distances over hydraulic breaking and the scrupulous rules related to the usage of light-weight materials in the braking system are some of the factors which may impede the market expansion.
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Global Automotive Brake Caliper Market Segmentation
· The worldwide automotive brake caliper market can be distinguished on the grounds of material, product type, vehicle type, sales channel, and region.
· On the grounds of material, the worldwide automotive brake caliper market can be distinguished into stainless steel, cast iron, and aluminum
· On the grounds of product type, the worldwide automotive brake caliper market can be distinguished into fixed and floating brake caliper.
· On the grounds of vehicle type, the worldwide automotive brake caliper market can be distinguished into passenger car and commercial vehicle.
· On the grounds of the sales channel, the worldwide automotive brake caliper market can be distinguished into OEM and aftermarket.
· On the grounds of the region, the worldwide automotive brake caliper market can be distinguished into North America, Asia-Pacific, Europe, and the Rest of the World (RoW).
Geographical Analysis
The global automotive brake caliper market is projected to expand significantly during the review period. Geographical evaluation of Europe, North America, Asia-Pacific, and the Rest of the World (RoW) has been performed successfully. As per the study conducted at MRFR, the global market is predicted to be acquired by the APAC region. The APAC region is projected to capture the highest market share during the assessment period. Countries such as China, Japan, and India are anticipated to contribute significantly to the manufacturing and sales process. Also, the region is predicted to experience the maximum expansion during the review period owing to the rising disposable income of countries such as India and China. Besides, the robust urbanization, surmounting application, the increasing focus on driver and vehicle safety is another conducive factor augmenting the market. However, the market dynamics are estimated to change significantly due to the outbreak of COVID-19.
Key Players
The globally renowned organization of the global automotive brake caliper market are AISIN SEIKI Co., Ltd (Japan), AKEBONO BRAKE INDUSTRY CO., LTD (Japan), Continental AG (Germany), WABCO (US), ZF Friedrichshafen (Germany), Brembo S.p.A. (Italy), ACDelco (US), Mando Corporation (Korea), Apec Braking (UK), ATL Industries (Canada), Robert Bosch (Germany), AbeBrakes (UK), Budweg Caliper A/S (Denmark), BWI Group (China), Japan Brake Industrial Co., Ltd (Japan), and a few more.
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