July 01, 2020
According to the research report titled ‘Global Carbon Ceramic Brake Discs Market: Analysis By Rotor Type, Application, Sales Channel, By Region, By Country (2020 Edition): Market Insights, COVID-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report LLC, global carbon ceramic brake discs market was valued at USD 1551.3 million in 2019 and is expected to witness tremendous growth during 2020-2025.
A carbon ceramic brake disc possesses qualities such as stability, water resistance, and is hard yet light. They are among the superior braking systems with high-performance, available commercially in the market. The automotive industry is witnessing deployment of advanced technologies which enhance performance and make driving more enjoyable, comfortable, and safe for drivers.
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Growing R&D activities by major companies for developing a cost-effective product is expected to create lucrative opportunities for the key players in global carbon ceramic brake discs market over the forecast period. Moreover, the developed regions like North America and EU which record the highest automobile sales have most strict rules for fuel emission, which is expected to increase the demand for carbon ceramic brake discs in the forthcoming years.
The braking system industry supports the automobile industry where the demand for pads and brakes is completely dependent upon automobile production. Increasing prevalence of COVID-19 has adversely impacted automobile industry, which has had a negative influence on this business vertical. Moreover, the economic downturn is also expected to restrain the market growth in the coming days.
Based on rotor type, the market is segmented into slotted and drilled. With respect to the applications, the market is divided into aerospace and automotive. Speaking of the regional ambit, the market is divided into Asia Pacific, North America, Europe, MEA, and South America. Asia Pacific held 53% market share in 2019. Factors such as rising demand for high performing vehicles and longer service interval are driving the growth of Asia-Pacific carbon ceramic brake discs market.
The key players operating in the global carbon ceramic brake discs market are SGL Carbon, EBC Brakes, Akebono Brake Industry Co. Ltd, Wilwood Engineering, Fusion Brakes, Surface Transforms, Shenzen LeMyth Technology, Brembo S.p.A, Rotora, and Mat Foundry Group Limited among others.