Automotive Carbon Fiber Composites Parts Global Market 2024 To Reach $42.14 Billion By 2028 At Rate Of 16.0%

The Business Research Company's Automotive Carbon Fiber Composites Parts Global Market 2024 To Reach $42.14 Billion By 2028 At Rate Of 16.0%

LONDON, GREATER LONDON, UNITED KINGDOM, September 30, 2024 /EINPresswire.com/ -- The automotive carbon fiber composites parts market has experienced robust growth in recent years, expanding from $19.89 billion in 2023 to $23.26 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to weight reduction in vehicles, growing electric vehicle, sports and luxury vehicle demand, stringent emission standards, racing and motorsports.

What Is The Estimated Market Size Of The Global Automotive Carbon Fiber Composites Parts Market And Its Annual Growth Rate?
The automotive carbon fiber composites parts market is projected to continue its strong growth, reaching $42.14 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to electric and hybrid vehicle adoption, stringent fuel efficiency standards, increased use in structural components, mass production and economies of scale, demand for advanced driver assistance systems (ADAS).

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Growth Driver Of The Automotive Carbon Fiber Composites Parts Market
Increase in vehicle production is expected to propel the growth of the automotive carbon fiber composites parts market going forward. Vehicle production refers to the process of manufacturing and assembling vehicles, such as automobiles, trucks, motorcycles, and other modes of transportation. The integration of carbon fiber composites in vehicle production is a result of ongoing efforts to improve fuel efficiency, reduce emissions and enhance overall performance.

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Who Are the Leading Competitors in the Automotive Carbon Fiber Composites Parts Market Share?
Key players in the market include Plasan Carbon Composites Inc., Faurecia SE, Toray Industries Inc., Mitsubishi Chemical Carbon Fiber and Composites, SGL Carbon, Composite Resources Inc., Hexcel Corporation, Teijin Limited, BUCCI COMPOSITES S.p.A., CBS Composites, Cobra Advanced Composites Co. Ltd., TOPKEY Excellence In Composites, Action Composite Technology Limited, Zhongfu Shenying Carbon Fiber Xining Co. Ltd., Jiangsu Hengrui Pharmaceuticals Co. Ltd., Martec Spa, Gigante Technologies Pvt. Ltd., Cytec Industries Incorporated, ACP Composites Inc., Clearwater Composites LLC, Owens Corning, HITCO Carbon Composites Inc., Polar Manufacturing Limited, Rock West Composites Inc., Zoltek Companies Inc., Gurit Holding AG, Solvay S.A., Continental Structural Plastics Inc., Magna International Inc., Toho Tenax Co. Ltd., Formtech Composite Limited, Quantum Composites Inc., PlastiComp Inc., TenCate Advanced Composites, Fiberforge Corporation, Albany Engineered Composites Inc., BASF SE, DSM Composite Resins AG.

Which Key Trends Are Driving Automotive Carbon Fiber Composites Parts Market Growth?
Major companies operating in the automotive carbon fiber composite parts market are entering into strategic partnerships and collaborations to sustain their position in the market. Strategic partnerships are collaborative relationships formed between two or more organizations to achieve specific business objectives or goals.

How Is The Global Automotive Carbon Fiber Composites Parts Market Segmented?
1) By Type: Brake Discs, Brake Pads, Battery Housing, Mirror Housing, Chassis, Pillars, Other Types
2) By Resin: Thermoplastic, Thermoset
3) By Application: Original Equipment Manufacturer (OEM), Aftermarket

Geographical Insights: Europe Leading The Automotive Carbon Fiber Composites Parts Market
Europe was the largest region in the market in 2023. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Automotive Carbon Fiber Composites Parts Market Definition
Automotive carbon fiber composite parts refer to automotive parts made up of carbon fiber composite material. They are used to reduce the weight of the vehicle to make it more energy efficient.

Automotive Carbon Fiber Composites Parts Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global automotive carbon fiber composites parts market report covering trends, opportunities, strategies, and more
The Automotive Carbon Fiber Composites Parts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive carbon fiber composites parts market size, automotive carbon fiber composites parts market drivers and trends, automotive carbon fiber composites parts market major players and automotive carbon fiber composites parts market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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