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Automotive Carbon Ceramic Brake Market 2024-2033 - Size, Growth, Key Players & Competitive Landscape
Automotive Carbon Ceramic Brake Market
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According to The Business Research Company's, The automotive carbon ceramic brake market size has grown rapidly in recent years. It will grow from $0.83 billion in 2023 to $0.93 billion in 2024 at a compound annual growth rate (CAGR) of 11%. The growth in the historic period can be attributed to the increasing application of aerospace technology to automotive brakes, growing demand for performance and weight reduction in vehicles, increasing adoption of high-end and luxury vehicles, and increasing research and development investments.
The automotive carbon ceramic brake market size is expected to see rapid growth in the next few years. It will grow to $1.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to an increasing focus on enhancing performance and efficiency, growing regulatory pressures for environmental sustainability, increasing consumer demand for premium vehicle features, advancements in braking technology improving cost and performance, and rising adoption of electric and hybrid vehicles. Major trends in the forecast period include increasing integration in electric and hybrid vehicles, growing focus on autonomous vehicles, advancements in material science, increasing emphasis on safety and performance, and rising demand in emerging markets.
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Market Drivers and Trends:
The expanding adoption of carbon ceramic brakes in sports cars and luxury vehicles is expected to propel the growth of the automotive carbon ceramic brake market going forward. Sports cars are high-performance vehicles designed for speed and agility, while luxury vehicles emphasize comfort, quality, and advanced features. The expanding adoption of sports cars and luxury vehicles is due to increased consumer demand for high-performance and status-enhancing automobiles. Automotive carbon ceramic brakes in sports and luxury vehicles provide superior braking performance, durability, and reduced weight, enhancing overall efficiency and driving experience. For instance, in January 2024, according to a report published by the International Council on Clean Transportation, a U.S.-based nonprofit organization focused on advancing clean, efficient, and sustainable transportation, vehicle sales in the luxury segment increased by 63% compared to 2021 in Europe. Additionally, new car registrations within the luxury segment saw a 63% rise in 2022 compared to the previous year. Therefore, the expanding adoption of carbon ceramic brakes in sports cars and luxury vehicles will drive the growth of the automotive carbon ceramic brake market.
Major companies operating in the automotive carbon ceramic brake market are innovating lightweight braking systems, such as brake skins, to provide durable braking solutions suitable for extreme conditions. Brake skins are lightweight components that offer superior braking performance, high thermal conductivity, and durability in high-performance automotive applications. For instance, in February 2023, Inspeed Technology (Shenzhen) Co., Ltd., a China-based brake system solution provider, launched its new carbon ceramic brake disc, offering superior performance with advantages like low weight, high strength, excellent heat resistance (up to 1400 degrees Fahrenheit), and a long service life exceeding 300,000 kilometers. It is compatible with various multi-piston brake calipers. It enhances vehicle dynamics and safety with high friction coefficients in dry and wet conditions, ensuring reliable handling and shorter braking distances.
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Major Key Players of the Market:
Honeywell International Inc., Aisin Seiki Co Ltd, Brembo SpA, Akebono Brake Industry Co Ltd, SGL Carbon GmBH, Miba AG, StopTech LLC, Carbo Ceramics Ltd, MAT Foundry Group Ltd, Apollo Automobil GmbH, Performance Friction Corporation (PFC Brakes), Wilwood Engineering, Carbon Revolution Limited, Hitco Carbon Composites Inc., EBC Brakes, AP Racing Ltd, Baer Inc, Surface Transforms PLC, Sparta Evolution, Disc Brakes Australia (DBA), Rotora Inc, Tarox Srl
Automotive Carbon Ceramic Brake Market 2024 Key Insights:
• The automotive carbon ceramic brake market size is expected to see rapid growth in the next few years. It will grow to $1.41 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Rising Demand For Sports Cars And Luxury Vehicles Drives Growth In Automotive Carbon Ceramic Brake Market
• Advancements In Lightweight Carbon Ceramic Brake Systems For High-Performance Automotive Applications
• North America was the largest region in the automotive carbon ceramic brake market in 2023
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