Source: Future Market Insights announcement
LONDON — The demand for automotive carbon brake rotors is estimated to grow at a moderate compound-annual-growth rate (CAGR) of 7.6 percent by 2032. This market is estimated to grow from $5.5213 billion in 2022 to $11.4859 billion in 2032, according to a study by Future Market Insights.
The sales of automotive carbon brake rotors are anticipated to grow, as they are lightweight, heat resistant, high performing, and more durable. The most common type of automotive brake rotor used in the automotive industry is carbon, which is less likely to warp or deform and may last longer than traditional brakes. Less brake dust, greater performance in wet and dry circumstances, and strong demand for racing cars, bikers, high-performance cars, and heavy trucks are additional key drivers of automotive carbon brake rotors.
The high market penetration of major players is predicted to support the growth of the automotive carbon brake rotor market globally. However, one of the biggest challenges the market faces is fluctuating raw material prices. Advanced braking systems, when combined with other driver-assist technology, can aid slow or stopping a vehicle while also ensuring overall safety.
Advanced braking systems are lighter, faster, and smarter than classic braking systems. Carbon brake rotors are used in high-performance and luxury vehicles such as Ferrari SpA, McLaren, Aston Martin Lagonda Ltd., Bentley Motors Ltd., Automobile Lamborghini SpA, Bugatti Automobiles SAS, Alfa Romeo Automobiles SpA, Porsche AG, and Corvette, driving demand for automotive carbon brake rotors.
The disadvantage of automotive carbon brake rotors is their expensive price when compared to commonly utilized standard brake rotors. Supercars and other high-performance vehicles are the main applications for automotive carbon brake rotors where cost is not a concern. These brake rotors are only utilized in high-performance and racing vehicles as they are not used in mass-produced, cost-efficient vehicles.
• The largest share of the global automotive carbon brake rotors market is occupied by carbon ceramic matrix. Inorganic silicon carbide mixes, fibers, and resins are used to create carbon ceramic brake rotors.
• By vehicle type, the global automotive carbon brake rotors market is dominated by the passenger cars segment. The primary drivers of the rapid expansion in car sales and production around the world include the rise in urbanization, rising standards of living, the development of infrastructure, and the rise in average household income.
• North America is the second largest region, accounting for 23% of the global automotive carbon brake rotor market. The prominence of racing events such as F1, MotoGP, and NASCAR, as well as rally sports and street racing, has created revenue streams for automotive carbon brake rotors in this region.
• Europe currently holds the greatest share of the global automotive carbon brake rotors market and is predicted to maintain its lead with 31% of the market in 2022.
“Carbon brake rotor market growth is expected to be fuelled globally by strong market penetration by leading players. However, fluctuation in raw material prices is one of the market’s significant problems.” – Future Market Insights Analyst
For more information about the study and report, click HERE.