Global Automotive Carbon Ceramic Brakes Market Is Estimated To Witness High Growth Owing To Increasing
The global Automotive Carbon Ceramic Brakes market is estimated to be valued at US$ 353.2 Mn in 2019 and is expected to exhibit a CAGR of 10.3% over the forecast period 2019-2027, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Automotive Carbon Ceramic Brakes are high-performance brake systems that are lightweight and offer superior braking performance. These brakes are made from a compound of carbon fiber-reinforced ceramics, which provide excellent heat resistance and durability. They are widely used in high-performance vehicles, such as sports cars and supercars, due to their ability to withstand high temperatures and reduce brake fade. Automotive Carbon Ceramic Brakes offer several advantages over traditional cast iron brakes, including reduced weight, improved handling, and longer lifespan.
B) Market Dynamics:
1. Driver: Increasing demand for high-performance vehicles
The growing popularity of high-performance vehicles, such as sports cars and luxury vehicles, is driving the demand for Automotive Carbon Ceramic Brakes. These brakes provide superior braking performance and improved handling, which are highly desirable in high-performance vehicles. Additionally, the increasing disposable income of consumers and their preference for luxury vehicles are further fueling the demand for Automotive Carbon Ceramic Brakes.
2. Opportunity: Lightweight brake systems
The automotive industry is increasingly focusing on lightweight materials and components to improve fuel efficiency and reduce emissions. Carbon ceramic brakes, being lighter than traditional cast iron brakes, help in reducing the overall weight of the vehicle. This not only improves fuel efficiency but also enhances the vehicle’s performance and handling. The demand for lightweight brake systems is expected to create significant opportunities for the Automotive Carbon Ceramic Brakes market.
C) Segment Analysis:
The global Automotive Carbon Ceramic Brakes market can be segmented based on vehicle type, sales channel, and region. Among these, the passenger car segment is expected to dominate the market during the forecast period, owing to the increasing production and sales of luxury and high-performance vehicles.
D) PEST Analysis:
– Political: The government’s regulations and policies regarding safety standards and emissions play a crucial role in shaping the Automotive Carbon Ceramic Brakes market. For instance, stringent emission regulations in Europe and North America are driving the adoption of lightweight brake systems.
– Economic: The economic growth of a region and the purchasing power of consumers significantly impact the demand for high-performance vehicles and luxury vehicles. As the global economy continues to recover, the demand for Automotive Carbon Ceramic Brakes is expected to increase.
– Social: The growing preference for high-performance vehicles and the increasing disposable income of consumers are the key social factors driving the demand for Automotive Carbon Ceramic Brakes.
– Technological: Advancements in carbon fiber technology and manufacturing techniques have led to the development of high-quality carbon ceramic materials, enabling the production of lightweight and durable brake systems.
E) Key Takeaways:
– The global Automotive Carbon Ceramic Brakes Market Growth is expected to witness high growth, exhibiting a CAGR of 10.3% over the forecast period, due to increasing demand for high-performance vehicles and lightweight brake systems.
– The Asia-Pacific region is expected to be the fastest-growing and dominating region in the Automotive Carbon Ceramic Brakes market, driven by the growing automotive industry in countries like China and India.
– Key players operating in the global Automotive Carbon Ceramic Brakes market include Brembo SGL Carbon Ceramic Brakes, Fusion Brakes LLC, Surface Transforms Plc, Akebono Brake Industry Co. Ltd., Carbon Ceramics Ltd, and Rotora Inc.
The global Automotive Carbon Ceramic Brakes market is poised for significant growth due to the increasing demand for high-performance vehicles and lightweight brake systems. As the automotive industry continues to evolve, market players need to innovate and develop advanced solutions to meet the ever-increasing demands of consumers.
