Automotive Carbon Ceramic Brakes Market is Estimated To Witness High Growth Owing To Rise In Demand For Luxury Vehicles
The Automotive Carbon Ceramic Brakes Market is estimated to be valued at US$ 74.26 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive carbon ceramic brakes are high-performance braking solutions made of carbon-carbon composites and silicon carbide. Carbon ceramic brakes are lightweight, corrosion and temperature resistant. They reduce brake dust, improve pedal feel, and increase braking performance. Carbon ceramic brakes provide better braking efficiency, reduced braking distance, and enhanced braking in high-performance vehicles.
Market key trends:
The automotive carbon ceramic brakes market is expected to witness significant growth over the forecast period, owing to rise in demand for luxury vehicles across the globe. Carbon ceramic brakes are mainly adopted in high-end luxury cars and sports cars by automakers to improve performance and handling of vehicles. Additionally, stringent emission regulations regarding vehicular weight reduction is also estimated to fuel the market growth during the forecast period. The adoption of carbon ceramic brakes helps reduce approximately 20-30% unsprung mass of a vehicle as compared to traditional cast iron brakes. Reduction in vehicle weight enhances braking efficiency, acceleration and handling.
Porter's Analysis
Threat of new entrants: The threat of new entrants is low as the automotive carbon ceramic brakes market requires high capital investment and technological know-how. Bargaining power of buyers: The bargaining power of buyers is moderate as automotive carbon ceramic brakes are considered a premium product with high price point. Bargaining power of suppliers: The bargaining power of suppliers is also moderate due to presence of established raw material suppliers and moderate switching costs. Threat of new substitutes: There is no direct substitute available for automotive carbon ceramic brakes. Competitive rivalry: The competitive rivalry is high among existing players.
SWOT Analysis
Strengths: Automotive carbon ceramic brakes offer superior performance over traditional brakes with benefits like lighter weight, higher resistance to heat, better braking capabilities. Weaknesses: High production costs make carbon ceramic brakes expensive. Complex manufacturing process requires heavy investment. Opportunity: Growing demand for lightweight vehicles and performance cars provides an opportunity to sell more carbon ceramic brakes. Threats: Economic slowdowns can reduce discretionary spending on premium and performance cars fitted with carbon ceramic brakes.
Key Takeaways
The global Automotive Carbon Ceramic Brakes Market Growth is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing demand for lightweight vehicles. Carbon ceramic brakes are 40% lighter than traditional cast iron brakes, helping automakers meet stringent weight reduction targets. Regionally, Europe dominates the global market currently due to presence of major automakers in Germany, Italy, and UK focusing on manufacturing high-performance vehicles. Asia Pacific is expected to grow at fastest rate due to rising automotive production in China and India.
Key players operating in the automotive carbon ceramic brakes market are 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, Ferrari N.V, Apollo Automobil GmbH (Gumpert), Automobili Lamborghini S.p.A. (Lamborghini).
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https://cmiinfopiece.blogspot.com/2023/12/automotive-carbon-ceramic-brakes-are.html
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