Valley Cottage, NY, April 27, 2017 --(PR.com
)-- The Passenger Car vehicle type segment is expected to remain lucrative in the global automotive carbon ceramic brakes market throughout the forecast period.
In terms of value, the passenger car vehicle type segment is estimated to hold a dominant share of the global automotive carbon ceramic brakes market throughout the forecast period. This segment is projected to gain more than 15 BPS over the forecast period and is estimated to account for close to 100% value share of the global automotive carbon ceramic brakes market by 2026 end. The passenger car segment is expected to witness high-value CAGR growth, followed by the LCV and HCV segments. The passenger car segment was valued at US$ 200 Mn by 2016 end and is projected to create an incremental $ opportunity of more than US$ 400 Mn between 2016 and 2026. This segment is expected to expand at a CAGR of 10.3% over the period of assessment.
Growing trend of customisation in developed countries is likely to fuel the growth in demand for passenger cars across the globe.
Automotive carbon ceramic brakes cost four times more as compared to cast iron discs. These brakes are predominantly found in high-end luxury cars or sports cars such as Porsche, Audi, Bugatti, Bentley, Lamborghini, Mercedes, Ferrari, GM Corvette, and many others. An increasing purchasing power among people and increasing demand for high-performance vehicles is likely to drive revenue growth of the passenger car segment. An adoption of carbon ceramic brakes is increasing significantly owing to growth in demand for luxury car models and stringent norms regarding vehicle weight reduction. OEMs are launching models with integrated carbon ceramic brake systems for better vehicle performance and durability. As a result penetration of luxury cars has increased in Brazil, India, the U.K., Germany, China, and Japan. As per Future Market Insights analysis, the demand for automotive carbon ceramic brakes will be relatively high in Europe and the NAFTA region as compared to that in Asian countries, owing to the high demand for luxury and sports cars in these regions.
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Stringent emission standards in countries such as Germany, the U.S., Canada, the U.K. and Mexico are compelling automotive manufacturers to make fuel-efficient vehicles. To achieve fuel economy, automakers are trying to reduce the weight of vehicles and their components, which will support the demand for automotive carbon ceramic brakes. These brakes are relatively light in weight and hence improve the durability and performance of vehicles. This factor is boosting the demand in the passenger car segment of the global automotive carbon ceramic brakes market.
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Passenger car segment in the Latin America automotive carbon ceramic brakes market is expected to exhibit robust growth, owing to an increasing demand for luxury cars fitted with carbon ceramic brakes.
The passenger car segment in the Latin America automotive carbon ceramic brakes market is estimated to be valued at more than US$ 15 Mn by 2017 end and is projected to represent an incremental $ opportunity of a little over US$ 20 Mn between 2016 and 2026, registering a CAGR of 8.6% in terms of value over the forecast period. In the Eastern Europe automotive carbon ceramic brakes market, the passenger car segment by vehicle type is projected to account for close to 100% market share by 2026 end. The passenger car vehicle type segment in the APEJ automotive carbon ceramic brakes market is estimated to be valued at more than US$ 100 Mn by 2026, expanding at a CAGR of 10.1% during 2016–2026. The passenger car segment in the MEA automotive carbon ceramic brakes market is projected to account for a little more than 99% value share by 2026 end.
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