by The global automotive carbon ceramic brakes market is estimated to be valued at US$5.49 Bn in 2022 and is expected to exhibit a CAGR of 7% over the forecast period (2023-2029), as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Automotive carbon ceramic brakes are highly durable and lightweight, offering superior braking performance compared to traditional braking systems. These brakes are made from a combination of carbon fiber and ceramic materials, resulting in enhanced heat resistance and reduced brake fade. The growing demand for high-performance vehicles and increasing awareness about safety among consumers are driving the adoption of automotive carbon ceramic brakes.
Market Key Trends:
One key trend in the automotive carbon ceramic brakes market is the growing popularity of electric vehicles (EVs). With the increasing focus on reducing carbon emissions, there has been a significant shift towards electric mobility. As EVs require efficient braking systems to maximize regenerative braking, the demand for carbon ceramic brakes is expected to rise. These brakes provide consistent performance and help to extend the range of electric vehicles.
Introduction:
The global Automotive Carbon Ceramic Brakes Market Share is set to experience high growth, with a projected CAGR of 7% during the forecast period from 2023 to 2029. This market’s rapid expansion can be attributed to the increasing demand for high-performance vehicles and the growing requirement for lightweight and durable braking systems. In this blog, we will explore the Porter’s Analysis and key takeaways from the market research report on the automotive carbon ceramic brakes market.
Porter’s Analysis:
Threat of New Entrants: The market poses a moderate threat of new entrants due to the high cost of research and development required to meet industry standards and regulations. Additionally, the established market players benefit from economies of scale, making it challenging for new players to penetrate the market.
Bargaining Power of Buyers: Buyers in the automotive carbon ceramic brakes market have moderate bargaining power. This is primarily because of their ability to choose from multiple market players and the availability of substitutes, such as traditional iron brakes. However, the limited number of suppliers for carbon ceramic brake components gives the suppliers some leverage.
Bargaining Power of Suppliers: Suppliers have a relatively high bargaining power due to the limited number of manufacturers for carbon ceramic brake components. These suppliers hold significant control over the pricing and availability of crucial raw materials, making it difficult for manufacturers to switch suppliers.
Threat of New Substitutes: The threat of new substitutes in the automotive carbon ceramic brakes market is relatively low. Carbon ceramic brakes offer superior performance, longer life, and reduced weight compared to traditional iron brakes. Furthermore, the rising demand for high-performance vehicles minimizes the likelihood of customers switching to alternative braking systems.
Competitive Rivalry: The competitive rivalry within the automotive carbon ceramic brakes market is intense. Key players in the market invest heavily in research and development activities to introduce advanced products and gain a competitive advantage. Additionally, partnerships, collaborations, and acquisitions are prevalent strategies to enhance market presence.
Key Takeaways:
Market Size: The global automotive carbon ceramic brakes market is estimated to reach a value of US$ 5.49 billion by 2022, showcasing a significant growth rate. This growth is propelled by the increasing demand for lightweight and high-performance vehicles, especially in developed economies.
Regional Analysis: The Asia-Pacific region is anticipated to be the fastest-growing and dominating region in the automotive carbon ceramic brakes market. Factors such as increasing disposable incomes, improving standards of living, and a growing automotive manufacturing industry contribute significantly to the market’s growth in this region.
Key Players: The key players operating in the automotive carbon ceramic brakes market include Brembo SGL Carbon Ceramic Brakes, Fusion Brakes LLC, Surface Transforms Plc, Akebono Brake Industry Co. Ltd., Carbon Ceramics Ltd, and Rotora Inc. These players focus on product innovation, technological advancements, and strategic collaborations to maintain their market share and gain a competitive edge.
In conclusion, the global automotive carbon ceramic brakes market is set to experience robust growth due to the demand for high-performance vehicles and the need for lightweight braking systems. Understanding the Porter’s Analysis and key takeaways from the market research report provides valuable insights into the market dynamics, key players, and regional trends.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
