|Product Code: ETC362004||Publication Date: Aug 2023||Product Type: Market Research Report|
|Publisher: 6Wresearch||No. of Pages: 75||No. of Figures: 35||No. of Tables: 20|
India Automotive Brake Caliper Market registered a growth of 22.89% in value shipments in 2022 as compared to 2021 and an increase of 4.96% CAGR in 2022 over a period of 2017. In Automotive Brake Caliper Market India is becoming less competitive as HHI index in 2022 was 1511 while in 2017 it was 1270. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on domestic production to meet its growing demand in Automotive Brake Caliper Market.
India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Automotive Brake Caliper Market in 2022 was 0.4 while in 2017 it was 0.41. China, Rep. of Korea, Germany, Thailand and USA were among the top players of the market in 2022, where China acquired the largest market share of 29.59% with a shipment value of 82.4 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 Germany had the largest market share of 23.11% with the shipment value of 39.16 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Germany offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Automotive Brake Caliper Market in 2017.
The automotive brake caliper market in India is estimated to be valued at around USD 2.4 billion and projected to grow at a CAGR of over 9% during the forecast period. The growing demand for advanced braking systems due to increasing safety regulations, increased focus on vehicle performance, and technological advancements are some of the key factors driving the growth of this market. Moreover, rising consumer preferences towards luxury vehicles with advanced braking systems such as Anti-lock Braking System (ABS) has further boosted the growth prospects for this market globally. Additionally, increasing production of commercial vehicles from OEMs in India owing to rising economic activities along with government initiatives promoting green mobility has resulted in more companies investing heavily into R&D activities related to brakes resulting into development of efficient and cost effective product solutions for India customers which will have positive impact on overall industry outlook during forecast period.
The India Automotive Brake Caliper market is primarily driven by the thriving automotive industry in the country. With an increasing number of vehicles on the road, the demand for efficient and reliable braking systems has surged. Brake calipers play a critical role in ensuring vehicle safety by converting hydraulic pressure into mechanical force to clamp the brake pads onto the brake rotor. As safety regulations become more stringent, vehicle manufacturers are focusing on equipping their vehicles with advanced braking systems, thus boosting the demand for high-quality brake calipers. Furthermore, the rising awareness of road safety among consumers has led to a preference for vehicles with advanced braking technologies, further driving the market for automotive brake calipers in India. Additionally, the growing trend towards electric and hybrid vehicles has created new opportunities for brake caliper manufacturers to develop lightweight and energy-efficient solutions.
The India automotive brake caliper market faces several challenges related to safety standards, technology, and market dynamics. One of the primary challenges is the stringent safety regulations and norms set by the government and international bodies. Automotive manufacturers need to comply with these standards, leading to increased development costs and efforts to design and produce brake calipers that meet the required safety criteria. Moreover, the automotive industry is witnessing a shift towards electric and hybrid vehicles, which brings forth new challenges for brake caliper manufacturers. The regenerative braking systems used in electric vehicles require different brake caliper designs and materials to ensure optimal performance and energy efficiency. Additionally, the competitive landscape of the automotive brake caliper market is intense, with several domestic and international players vying for market share. As a result, pricing pressures and the need for continuous innovation and improvement become critical challenges for manufacturers to stay competitive. Furthermore, the choice of materials and manufacturing processes for brake calipers is crucial in ensuring performance and durability. Finding the right balance between cost, weight, and performance can be challenging for manufacturers, especially in a price-sensitive market like India. Another challenge is the increasing demand for lightweight and compact brake calipers, driven by the automotive industry`s focus on fuel efficiency and emissions reduction. Developing lightweight calipers without compromising on strength and safety can be a technical challenge that requires constant research and development efforts.
The India automotive brake caliper market experienced significant impacts during the COVID-19 pandemic. As vehicle sales plummeted and manufacturing facilities suspended operations, the demand for automotive brake calipers declined sharply. Supply chain disruptions and labor shortages further added to the challenges faced by the industry. However, with the gradual revival of the automotive sector and the increasing demand for electric and hybrid vehicles, the market is projected to recover. The focus on advanced braking systems to enhance safety and comply with stringent regulations will drive the growth of the automotive brake caliper market in India.
In the India automotive brake caliper market, several key players are involved in the manufacturing and supply of brake calipers for the automotive industry. Brakes India Private Limited, a prominent player, is known for its brake calipers and brake components for passenger cars, commercial vehicles, and motorcycles. They cater to both domestic and international markets, providing solutions for various vehicle platforms. Rane Brake Lining Limited is another major player offering brake calipers and braking solutions for commercial vehicles and off-highway applications. They focus on providing high-performance products that meet international safety standards. Additionally, Continental Automotive India Pvt. Ltd. is a key player in the market, offering advanced electronic brake calipers and brake-by-wire systems for modern vehicles. These key players actively collaborate with automobile manufacturers, Tier-1 suppliers, and aftermarket distributors to provide cutting-edge braking solutions and ensure vehicle safety and performance. Their dedication to research and development, quality manufacturing processes, and compliance with global automotive standards has established them as influential players in the India automotive brake caliper market.