Floating Caliper Type Disc Brake Dominated the Market in 2020
According to our latest study on “Automotive Disc Brake Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Opposed Piston Type Disc Brake and Floating Caliper Type Disc Brake), Material Type (Cast Iron, Aluminum, Stainless Steel, and Others), and Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCVs), and Heavy Commercial Vehicles (HCVs)),” the market is expected to grow from US$ 15,485.2 million in 2021 to US$ 20,016.4 million by 2028; it is expected to register a CAGR of 3.7% from 2021 to 2028.
A floating caliper type disc brake has a piston on only one side and is also known as a sliding type disc brake. Many passenger cars are installed with floating caliper type disc brakes due to their low weight and simplicity properties, which results in achieving lower manufacturing costs. The floating caliper type disc brakes are gaining traction in commercial vehicles—where drum brakes were traditionally chosen for their resistance against wear and tear—due to their consistent performance at higher speeds and resistance to brake fade. Furthermore, the demand for floating caliper type disc brakes is increasing owing to their high rigid mounting features. WABCO Holdings Inc. and Akebono Brake Industry Co., Ltd. are among the pioneers of floating caliper type disc brakes. WABCO Holdings Inc. offers floating caliper type disc brakes that are mounted over a rotor disc using either pins or shoulder bolts. Akebono Brake Industry Co., Ltd. offers floating caliper type disc brakes for passenger cars and commercial vehicles.
Impact of COVID-19 on Automotive Disc Brake Market
The COVID-19 pandemic has negatively impacted several industries. The tremendous increase in the spread of the virus has forced governments worldwide to impose strict restrictions on movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The imposition of lockdown has resulted in a drastic decline in production and service activities. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.
The COVID-19 impact on the automotive sector has led to the shutting down of assembly plants, slowdown in manufacturing processes, and disruptions in the supply chain. This has resulted in a significant drop in vehicle sales in early 2020, fueled by oil price fluctuations and economic slowdown in various regions. Despite the significant impact of COVID-19 on the automotive industry, commencement of production and launch business of new cars in several countries is driving the automotive disc brake market growth.
Based on type, the automotive disc brake market is segmented into opposed piston type disc brake and floating caliper type disc brake. Based on material type, the automotive disc brake market is segmented into cast iron, aluminum, stainless steel, and others. In terms of vehicle type, the automotive disc brake market is segmented into passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Geographically, the automotive disc brake market is segmented into North America, Europe, APAC, MEA, and SAM.
Automotive Disc Brake Market Breakdown – By Region, 2020
Automotive Disc Brake Market Size Report, Growth Statistics to 2028
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Automotive Disc Brake Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Opposed Piston Type Disc Brake and Floating Caliper Type Disc Brake), Material Type (Cast Iron, Aluminum, Stainless Steel, and Others), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), and Geography
Automotive Disc Brake Market Size Report, Growth Statistics to 2028
Download Free SampleAutomotive Disc Brake Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Opposed Piston Type Disc Brake and Floating Caliper Type Disc Brake), Material Type (Cast Iron, Aluminum, Stainless Steel, and Others), Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)), and Geography
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