Global Automotive Carbon Ceramic Brakes Market Is Estimated To Witness High Growth Owing To Brembo SGL Carbon
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 of 2019-2027, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Automotive Carbon Ceramic Brakes are used in high-performance vehicles to provide superior braking performance compared to traditional cast-iron brakes. These brakes offer numerous benefits such as reduced weight, better heat dissipation, increased durability, and improved performance in extreme conditions. The market is primarily driven by the growing demand for high-performance vehicles, especially in the luxury and sports car segments. The increasing preference for carbon ceramic brakes due to their superior braking capabilities is expected to drive the market further.
B) Market Dynamics:
1. Driver one: Growing demand for high-performance vehicles
The increasing demand for high-performance vehicles, especially in emerging economies, is a major driver for the growth of the Automotive Carbon Ceramic Brakes market. The growing disposable income, changing consumer preferences, and the desire for luxury and sports cars are fueling the demand for vehicles equipped with advanced braking systems. These vehicles require advanced braking technologies to handle the high speeds and provide enhanced safety.
2. Driver two: Benefits of carbon ceramic brakes
Carbon ceramic brakes offer several advantages over traditional cast-iron brakes. They have a lower weight, which improves the overall performance and fuel efficiency of the vehicle. Additionally, carbon ceramic brakes have better heat dissipation properties, which reduce brake fade and improve braking performance in high-temperature conditions. These brakes also have a longer lifespan, reducing the need for frequent replacement. These benefits are driving the adoption of carbon ceramic brakes in high-performance vehicles.
C) SWOT Analysis:
Strength:
1. Superior braking performance: Carbon ceramic brakes offer superior braking performance compared to traditional brakes, providing shorter stopping distances and improved safety.
2. Lightweight: Carbon ceramic brakes are significantly lighter than cast-iron brakes, reducing the overall weight of the vehicle and improving fuel efficiency.
Weakness:
1. High cost: Carbon ceramic brakes are more expensive than traditional brakes, making them less accessible to mass-market vehicle segments.
2. Limited aftermarket availability: Carbon ceramic brakes are primarily installed in high-performance vehicles and may have limited availability in the aftermarket.
Opportunity:
1. Increasing demand for electric vehicles: The growing popularity of electric vehicles provides an opportunity for the adoption of carbon ceramic brakes due to their lightweight and energy-efficient properties.
2. Technological advancements: Continued research and development in carbon ceramic brake technology can lead to further improvements in performance and cost reduction, expanding their application in mainstream vehicles.
Threats:
1. Competition from alternatives: Traditional cast-iron brakes and other advanced braking technologies such as carbon composite brakes pose a threat to the market share of carbon ceramic brakes.
2. Economic downturn: A global economic downturn can impact the demand for luxury and sports cars, affecting the adoption of carbon ceramic brakes.
D) 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 the benefits of carbon ceramic brakes.
- The Asia-Pacific region is expected to dominate the Automotive Carbon Ceramic Brakes market, driven by the growing automotive industry and the increasing demand for luxury vehicles in countries like China and India.
- Key players operating in the global Automotive Carbon Ceramic Brakes market are Brembo SGL Carbon Ceramic Brakes, Fusion Brakes LLC, Surface Transforms Plc, Akebono Brake Industry Co. Ltd., Carbon Ceramics Ltd, and Rotora Inc.
In conclusion, the global Automotive Carbon Ceramic Brakes market is poised for significant growth due to the increasing demand for high-performance vehicles and the benefits offered by carbon ceramic brakes. However, challenges such as high costs and competition from alternatives need to be addressed for sustained market growth.
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