Global Automotive Carbon Ceramic Brakes Market is Expected to Grow at a CAGR of 10.3% During the Forecast Period (2019-2027)

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Jul 08, 2019, 08:32 ET

SEATTLE, July 8, 2019 /PRNewswire/ -- According to Coherent Market Insights, the Global Automotive Carbon Ceramic Brakes Market is projected to exhibit a CAGR of 10.3% over the forecast period (2019-2027).

Key Analysis of the Automotive Carbon Ceramic Brakes Market:

Carbon ceramic brakes, also called ceramic composite brakes, are a new form of the fixed caliper disc brake and are used in supercars, and in luxury and high performance vehicles. Ceramic brakes possess numerous advantage in comparison to conventional cast iron brakes, such as weight reduction up to 70%, reduce noise and vibration, provide easy maneuverability, and have anti-corrosive properties. Owing to high cost of the material, carbon ceramic brakes are primarily used in high end automobiles. Thus, some of the vehicles deployed with carbon ceramic brakes are luxury class limousines from companies such as Bentley, Bugatti, Audi, and Lamborghini among others. Moreover, the increasing purchasing power of consumers, and surge in demand for high-end luxury and sports car are the key macroeconomic factors driving growth of the automotive carbon ceramic brakes market. According to Coherent Market Insights, in November 2018, BMW recorded sales of 28,330 luxury vehicles while Mercedes-Benz recorded sales of 31,022 luxury vehicles. Moreover, automotive carbon ceramic brakes help to dissipate heat efficiently, maintain performance, as well as restrict distortion. Such attributes of the carbon ceramic brakes are expected to drive growth of the automotive carbon ceramic brakes market in the near future.

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The global automotive carbon ceramic brakes market is segmented on the basis of brake type, sales channel, vehicle type, and region. Among vehicle type, the passenger vehicle segment held the dominant position in the market in 2017, and is expected to retain its position throughout the forecast period. According to a report published by the World Economic Forum in April 2016, the number of cars on roads worldwide is expected to double by 2040, in which passenger cars are projected to reach the 2 billion mark by 2040. Carbon ceramic brakes are only mounted in super luxury or sports cars and have not been manufactured for commercial vehicles. As a result, the passenger vehicle segment in the global automotive carbon ceramic brakes market is likely to expand significantly during the forecast period.

On the basis of geography, the automotive carbon ceramic brakes market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Europe is estimated to be a lucrative region for the automotive carbon ceramic brakes market, owing to increasing demand for sports and luxury cars, rise of the automotive sector, and increasing utilization of automotive carbon ceramic brakes by car manufacturers. The growth of the market can be attributed to increasing luxury cars production in countries such as Germany, combined with the growing automotive industry in emerging countries such as Czech Republic, Poland, Turkey, and Russia. According to an analysis by Coherent Market Insights, in 2018, Germany had the largest concentration of OEM plants in Europe. There are over 40 OEM sites in Germany. Germany's OEM market share in Western Europe was more than 53% in 2017. Moreover as per WMR's analysis, in November 2018, Germany-based luxury carmakers such as BMW, Mercedes-Benz, and Porsche achieved highest worldwide car sales for the eighth consecutive year. Thus, the rise in sale of automotive vehicles is expected to positively impact growth of the automotive carbon ceramic brakes market.

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https://www.coherentmarketinsights.com/market-insight/automotive-carbon-ceramic-brakes-market-2794

Key Market Takeaways:

The market is expected to witness a CAGR of 10.3% during the forecast period (2019–2027), owing to increasing demand for sports and luxury vehicles as well as the growing automotive industry across the globe.
Advancements in automotive braking systems, ongoing deployment of carbon ceramic brakes by various manufacturers of luxury and premium cars, rising demand for high performance vehicles, and stringent government norms regarding weight reduction are some of the factors driving growth of the global automotive carbon ceramic brakes market. However, high deployment cost of carbon ceramic brakes is expected to hamper growth of the global automotive carbon ceramic brakes market. For instance, in 2012, Brembo S.p.A introduced carbon ceramic brakes for the current generation BMW M6. The brakes were also introduced in the M5, M3 and M4 versions. In the M4 version, the carbon ceramic brake kit cost nearly US$ 8,000, and since it can only be opted with relatively big 19-inch wheels, it also added the surplus cost of rims.
Some of the major players operating in the global automotive carbon ceramic brakes market include Brembo S.p.A., SGL Carbon, MAT Foundry Group Ltd., AKEBONO BRAKE INDUSTRY CO., LTD., Carbon Ceramics Ltd, Rotora, Surface Transforms PLC, Fusion Brakes, LLC, EBC Brakes, RB Performance Brakes, Wilwood Engineering, Inc., and Baer Brakes among others.

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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SOURCE Coherent Market Insights