Monday, 05 August 2024 06:00 AM
Company Update
Market Survey on Automotive Carbon Ceramic Brakes Market Covering Sales Outlook, Up-to-date Key Trends, Market Size and Forecast, OEM and Aftermarket Sales Analysis, Supplier Ecosystem, Company Analysis and Who Supplies Whom.
NEWARK, DE / ACCESSWIRE / August 5, 2024 / The global automotive carbon ceramic brake market size is expected to reach a worth of USD 588.93 million in 2024. Sales of automotive carbon ceramic brakes are expected to rise at a CAGR of 10.29% from 2024 to 2034. By 2034, the demand for automotive carbon ceramic brakes is anticipated to attain a valuation of USD 1,568.26 million.
The automotive carbon ceramic brake industry is expanding due to growing interest in vehicle racing and rising sales of premium and sports models. The growth in different types of automobile sporting contests has contributed to a remarkable increase in demand for high-performance braking systems. The automotive carbon ceramic brakes in these competitions offer superior braking performance at high speeds. Car personalization is becoming steadily prevalent, and sales of automotive carbon ceramic brakes are increasing.
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The high production cost of vehicle carbon ceramic brakes and their correspondingly exorbitant acquisition and maintenance expenses contribute to the decline in the growth of the automobile carbon ceramic brake market. Technical problems, including the high initial and maintenance costs of brakes and the requirement for high operating temperatures for optimal performance, are anticipated to hinder the automotive carbon ceramic brake market growth.
The carbon ceramic brakes are mostly used in high end luxury cars like Audi, Bentely, Mercedes etc. Moreover, increasing purchasing power among people and increasing demand for high performance vehicles, people are opting for carbon ceramic fitted brake systems. These brakes help dissipate heat far more efficiently, and maintain performance and prevent deformation. Also, manufacturers are trying to reduce the weight of the vehicles components to achieve fuel economy which is thereby increasing the demand for carbon ceramic brakes market. Moreover, new technological advancements in the automotive braking systems in boosting the growth of automotive carbon ceramic brakes market.
Which Trends Will Influence the Growth of Automotive Carbon Ceramic Brakes Market?
Rising sales of luxury and sports models and growing trend of automotive racing is influencing the market growth. Demand for high performance braking system has increased remarkably in recent years owing to surge in various types of automotive racing competitions. Vehicles used in these events are equipped with the carbon ceramic brakes which provides excellent brakes at high speed. Also, the growing trend of vehicle customization is blooming, this is anticipated to boost the sales of automotive carbon ceramic brakes market over the forecast period.
End-users in develop countries like U.S. and Japan are promoting the trend of car customization. These countries are the hub of different automotive events which creates opportunities for vehicle customization in these developed countries, which indirectly influence the growth of automotive carbon ceramic brakes market.
Which Region has the Proment Sales for Automotive Carbon Ceramic Brakes Market?
Germany is leading Europe in automotive carbon ceramic brake market, and is expected to witness a growth during the forcasted period of 2024 to 2034. Europe being one of the largest economies and one of the fastest growing markets in the world due to economic growth attains a podium position in the automotive carbon ceramic brakes market.
The region also accounts for major exports of its produce to Middle East where manufacturers are few and opportunities are ample in the automotive sector. Presence of several market participants engaged in the production of alternative brakeing system can reap high operational profits and benefits.
Key Takeaways from the Market Study
The OEM sector is dominating the sales channel category, acquiring a share of 90.3% in 2024.
The passenger cars segment is leading the vehicle type category, garnering a share of 99.8% in 2024.
The Germany automotive carbon ceramic brake market is projected to exhibit growth between 2024 and 2034 at a CAGR of 13.0%.
Italy's automotive carbon ceramic brake sales are expected to spur at a CAGR of 12.8% until 2034.
Through 2034, the United States automotive carbon ceramic brake market is expected to expand at a CAGR of 11.7%.
The Fench automotive carbon ceramic brake industry anticipates flourishing at a CAGR of 11.5% between 2024 and 2034.
Sales of automotive carbon ceramic brakes in China are expected to surge at a CAGR of 10.3% through 2034.
From 2024 to 2034, the South Korea automotive carbon ceramic brake sales is projected to boost at an 8.8% CAGR.
The Canadian automotive carbon ceramic brake market is forecast to thrive at a CAGR of 8.4% until 2034.
From 2024 and 2034, the Japan automotive carbon ceramic brake industry is projected to evolve at a CAGR of 8.2%.
The United Kingdom sales of automotive carbon ceramic brakes are expected to experience expansion at a CAGR of 7.6% through 2034.
The Australia automotive carbon ceramic brake industry is projected to accelerate at a CAGR of 7.0% through 2034.
Sales of automotive carbon ceramic brakes in Spain are expected to evolve at a CAGR of 6.2% through 2034.
The India automotive carbon ceramic brake industry is projected to strengthen at a 6.0% CAGR through 2034.
"The growing need for high-performance braking systems is expected to propel the automotive carbon ceramic brake market. Stricter safety laws and technological developments stimulate automobile carbon ceramic brake market growth -says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
To increase the size of their production facilities, the leading automotive carbon ceramic brake vendors are engaging in partnership agreements, mergers, and acquisitions. The automotive carbon ceramic brake manufacturers concentrate on research and development to offer premium and long-lasting braking systems to obtain a competitive advantage.
Key Players
BREMBO S.p.A.
Surface Transforms PLC
MAT Foundry Group Ltd
Audi AG
Volkswagen of America, Inc.
Carroll Shelby International, Inc.
ALPINA Burkard Bovensiepen GmbH + Co. KG
BRABUS GmbH
AKEBONO BRAKE INDUSTRY CO., LTD.
Rotora
Latest Developments
In June 2020, Surface Transforms PLC partnered with Koenigsegg to assist in producing the first four-seater hypercar. The agreement states that Surface Transforms plc will be supplying all carbon ceramic brake discs needed to construct hypercars.
In January 2018, Bugatti Automobiles produced a high-strength eight-piston monoblock brake caliper with the goal of creating a highly stiff brake caliper for racing cars that tolerate high temperatures.
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Regional Outlook
Due to Asia Pacific's rapid urbanization and infrastructure development, the automotive carbon ceramic brake market is expected to exhibit significant opportunities. There is an increasing demand for automotive carbon ceramic brakes due to strict pollution laws and increased awareness of vehicle safety and performance.
Due to their lightweight design and lower emissions, automotive carbon ceramic brakes have become increasingly prominent in Europe as people are environmentally conscious and sustainable. The demand for automotive carbon ceramic brakes is expanding rapidly in North America due to the region's preference for high-performance automobiles, especially those in the luxury and sports car sectors.
Key Segmentations
By Vehicle Type:
Passenger Cars
Commercial Vehicles
Light Commercial
Heavy Buses & Trucks
Off-road Vehicles
By Sales Channel:
Original Equipment Manufacturer (OEM)
Original Equipment Supplier (OES)
Independent Aftermarket (IAM)
By Region:
North America
Latin America
Western Europe
Eastern Europe
China
Japan
South Asia Pacific
Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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SOURCE: Future Market Insights Inc.