SEATTLE, May 27, 2020 (GLOBE NEWSWIRE) -- Carbon ceramic brakes also referred to as ceramic composite brakes are a type of fixed caliper disc brakes, typically used in high-performance vehicles and supercars. In similar driving conditions, carbon-ceramic brake pads will not wear down as fast as regular brake pads, owing to their material composition. Carbon-ceramic brakes can be used in a number of industries such as automotive, rolling stock, motorcycle, aircraft, and many others. In the automotive industry, these brakes can be used in passenger vehicles, LCVs, and HCVs.
The global automotive carbon ceramic brakes market is estimated to account for US$ 778.4 Mn in 2019 and is expected to grow at a CAGR of 10.3% over the forecasted period 2020-27.
Market Drivers
- High demand for supercars is expected to accelerate growth of the global automotive carbon ceramic brakes market during the forecast period
The demand for supercars and high-performance vehicles has increased massively in the recent past. This demand is attributed to growing urbanization and rising disposable income, especially in developed economies. Since carbon-ceramic brakes are lightweight, high-friction, and high-performance and thus, it is adopted in luxury and high-performance cars. Furthermore, rising research and development activities in the field of carbon-ceramic brakes are expected to accelerate growth of the global automotive carbon ceramic brakes market during the forecast period.
- Rising competition among super sports car manufacturers is expected to support the global automotive carbon ceramic brakes market growth over the forecast period
Major companies in the market are focused on research and development activities, in order to launch better automotive technologies. The consumers in the automotive industry consider automobiles status quo where they define an individual’s standard of living. Furthermore, consumers are preferring advanced comfort, technology, safety, and convenience offered by vehicles, which in turn, is encouraging manufacturers to integrate the latest technologically advanced offerings.
Market Opportunities
- High demand from defense sector can present lucrative growth opportunities
- Constant product innovation can offer major business opportunities for market players
Request for Sample copy @ https://www.coherentmarketinsights.com/insight/request-sample/2794
Key Takeaways:
- Western Europe holds the dominant position in the global automotive carbon ceramic brakes market and is expected to witness significant growth over the forecast period 2020-27. This is owing to increasing demand of vehicles in the European market, thereby increasing demand for automotive carbon ceramic brakes in the market. According to Coherent Market Insights analysis, in 2018, European automotive sector is contributing nearly 20.1% in the world automotive sector. Furthermore, Europe has large number of sports vehicle manufacturing companies such as Dr.-Ing. h.c. F. Porsche AG (Porsche), Ferrari S.p.A. (Ferrari) and others, which use carbon ceramic brakes for their cars. For instance, in September 2019, Ferrari, launched companies new sports car model Ferrari F8 Tributo equipped with carbon ceramic brakes.
- Among Sales Channel, OEM segment is expected to dominate the global automotive carbon ceramic brakes market over the forecasted period 2020-27. This is owing to OEMs in the market are introducing luxury as well as sports car integrated with carbon ceramic brakes that yield better performance and durability. Penetration of luxury cars has increased in such as the U.K., Germany, India, Brazil, Germany, China, and Japan. According to Germany Association of Automotive Industry, sports model production in Germany increased by 16.8% in 2019, to reach 117,482 units compared to 100,587 units in 2018.
- Among vehicle type, Passenger Cars segment is expected to create a lucrative opportunity for global automotive carbon ceramic brakes market as these automotive carbon ceramic brakes are only used for luxury cars and sports car model and they are not being used for commercial vehicles yet.
Competitive Landscape:
Key players operating in the global automotive carbon ceramics market are Brembo SGL Carbon Ceramic Brakes, Fusion Brakes LLC, Surface Transforms Plc, Akebono Brake Industry Co. Ltd., Carbon Ceramics Ltd, and Rotora Inc.
Key Developments
Key players in the market are focused on product launches, in order to gain competitive edge in the market. For instance, in October 2016, Akebono Brake Industry Co. Ltd. launched 16 new parts to its Pro-ACT, performance and EURO premium ceramic brake pad lines.
Key players in the market are involved in entering into contract, in order enhance market presence. For instance, in February 2017, Surface Transforms Plc entered into contract with Aston Martin to supply carbon ceramic brakes.
Buy-Now this Research Report @ https://www.coherentmarketinsights.com/insight/buy-now/2794
Market Segmentation:
- By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Heavy Commercial Vehicle (HCV)
- By Sales Channel
- Original Equipment Manufacturer (OEM)
- Aftermarket
- By Region
- North America
- Latin America
- Europe
- APAC
- Middle East & Africa
Mr. Shah Coherent Market Insights 1001 4th Ave. #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: sales@coherentmarketinsights.com