The global market for brake calipers will grow significantly due to government mandates for brake calipers and increased demand for vehicles, according to a research report.

Brake calipers are the essential components of an automotive braking system. In disc brakes, calipers help to slow down the vehicle’s wheels by producing friction with the rotors.

Strict regulations for vehicle and passenger safety are prompting mandates for brake calipers in LCV, PCV, HCV and two-wheelers, according to the report from Million Insights.

Improvements in manufacturing efficiency and quality are reducing the price of brake calipers, while “enhancements of low-weighted aluminum products along with superior fitment that matches OE demand are expected to drive the brake caliper market in the near future,” according to Million Insights.

“Rising vehicle production worldwide, with major share from the emerging economies, is expected to increase the product demand, thereby driving the brake caliper market,” Million Insights says. “Rise in customer spending power and increase in vehicles sales are a few other factors that contribute to the growth of the brake caliper market.”