Highly consolidated, the global automotive carbon ceramic brakes market, is dominated by the presence of top 4 players. The automotive carbon ceramic brakes market is highly niche with significant used in sports, luxury, and racing cars. Key factors including growing production of sports and luxury cars, along with major partnerships between automotive OEMs and prominent carbon ceramic brakes manufacturers are projected to drive the demand for carbon ceramic brakes over the forecast period of 2018-2028. Automotive carbon ceramic brakes manufacturers are projected to enhance OEM relationships through establishing brake manufacturing facility along with car production hubs. Rising need for customization and engineering with optional features has further added to the surging demand for automotive carbon ceramic brakes.
In the coming years, the automotive carbon ceramic brakes market is projected to witness growing trend of vehicle customization in developed countries, thereby triggering further adoption of automotive carbon ceramic brakes. A study by Future Market Insights projects sluggish growth of 3% CAGR with overall global consumption standing at 134.3 Mn Units by 2028, with significant sales to OEMs directly. Passenger cars are will witness most deployments of carbon ceramic brakes, with close to 99% share. The market is further estimated to value around US$ 722.5 Mn by 2028.
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Revved up demand for luxury cars equipped with machineries with enhanced safety features catering to demand for high performance vehicles, will add mobility to the automotive carbon ceramic brakes market through 2028. Carbon ceramic brakes help allay heat more efficiently, maintain performance, and prevent deformation, compared to conventional cast iron discs. FMI analysis also indicates that the demand for automotive carbon ceramic brakes is likely to be high in Europe and NAFTA compared Asian countries, owing to high demand for luxury and sports cars in the former regions.
Moreover, automotive manufactures are compelled to reduce the vehicular and components weight to achieve fuel economy, owing to stringent emission regulations in EU and US, thereby pushing the demand for automotive carbon ceramic brakes considering its ability to improve the performance and durability of vehicles. Using carbon ceramics for high-end cars reduces the vehicle’s weight by 20 kg to 22 kg.
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However, a key factor restraining the growth of automotive carbon ceramic brakes market is the exorbitant pricing attributable to material composition and manufacturing process associated with ceramic brakes. High market penetration of relatively low cost, but high performing cast iron brakes is also hampering the sales of carbon ceramic brakes. Key manufacturer Brembo S.p.A are collaborating with different companies to make cost efficient carbon ceramic brakes. Moreover, cost is not the only factor restricting the market growth. Inability of carbon ceramic brakes to perform under extreme driving conditions such as racing conditions and extremely cold climates is further expected to hamper the growth of the automotive carbon ceramic brakes market. In terms of composition, rotors and brake pads, wherein brake rotors account for nearly 40%-50% and brake pads account for about 28%-32% of the total cost of the system.
FMI projects that the carbon ceramic brake market is presently in the high growth quadrant. Significant investments are being made by key players in research and development to develop proprietary manufacturing techniques, to further reduce product prices. The market is characterized by high consolidation and major players are struggling to gain notable share of the market.
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Geographically, China is likely to contribute significantly to the revenue of carbon ceramic brakes, considering growing aftermarket sales in the region, recording a substantial double-digit growth in the coming years. Presence of major car manufacturers in Italy and Germany will ante up the sales of carbon ceramic brakes in Western Europe. South East Asia and Pacific and Japan are also projected to follow the same channel route as China, and increase adoption through aftermarket sales. Market players have been channelizing efforts towards strengthening their distribution channels and OEM relationship majorly in North America, Europe, and Japan.