Press release
Automotive Carbon Fiber Composites Parts Market Projected to Exhibit Growth at 14.94% CAGR by 2031- TMR Study
In the dynamic landscape of the automotive industry, carbon fiber composites have emerged as a game-changer, transforming the market for automotive components. Valued at over US$ 15 Bn in 2020, the automotive carbon fiber composites parts market is projected to witness a robust CAGR of 14.94%, soaring to exceed the value of US$ 71.5 Bn by 2031. This comprehensive analysis delves into the market dynamics, key players, growth trends, and challenges shaping the automotive carbon fiber composites parts industry.
Analysts' Viewpoint: Market Scenario
Key players in the automotive carbon fiber composites parts market are strategically expanding their market share through collaborations, partnerships, and mergers & acquisitions. Manufacturers are capitalizing on the rising fuel prices and growing awareness of electric vehicles (EVs) globally. Despite the potential for growth, the high production costs of carbon fiber composites parts remain a challenge, prompting market players to introduce innovative, cost-effective solutions.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84572&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Impact of COVID-19 on the Market
The global COVID-19 pandemic had a significant impact on the automotive carbon fiber composites parts market. Disruptions in the supply chain and lockdowns halted vehicle production worldwide. However, as COVID-19 restrictions ease, manufacturers are focused on increasing production capacity to recover from the losses incurred during the pandemic.
Rising Demand for Electric Vehicles
The surge in demand for electric vehicles, driven by factors like fuel efficiency, high performance, and lightweight properties, presents lucrative opportunities for carbon fiber composites parts. The trend towards vehicle electrification and government regulations on emissions fuel the demand for EVs, propelling the automotive carbon fiber composites parts market. The lightweight nature of these components enhances travel time and battery performance.
Sports Cars and Luxury Vehicles Driving Growth
Luxury and sports car manufacturers are increasingly adopting carbon composites parts to reduce vehicle weight, leading to improved performance and fuel efficiency. The popularity of sports cars and racing events is rising globally, driving the demand for lightweight car parts. Europe, with its rapid adoption of electric and hybrid vehicles, is a significant market for carbon composite parts in sports and luxury cars.
Regional Insights: Europe Taking the Lead
Europe holds a prominent share in the automotive carbon fiber composites parts market, with countries like Germany, France, Italy, and Nordic Countries driving demand for luxury and sports cars. The region's emphasis on lightweight and fuel-efficient vehicles aligns with stringent regulations. Additionally, Europe witnesses a high demand for carbon composite parts due to the presence of top sports car manufacturers.
Key Players and Competition Landscape
Key players in the automotive carbon fiber composites parts market include Plasan Carbon Composites, Faurecia SE, Toray Industries, Mitsubishi Chemical Carbon Fiber and Composites, SGL Carbon, Hexcel Corporation, TEIJIN LIMITED, and more. Collaboration and innovation are key strategies to overcome challenges and drive market growth.
𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/checkout.php?rep_id=84572<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact Us
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Analysts' Viewpoint: Market Scenario
Key players in the automotive carbon fiber composites parts market are strategically expanding their market share through collaborations, partnerships, and mergers & acquisitions. Manufacturers are capitalizing on the rising fuel prices and growing awareness of electric vehicles (EVs) globally. Despite the potential for growth, the high production costs of carbon fiber composites parts remain a challenge, prompting market players to introduce innovative, cost-effective solutions.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84572&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Impact of COVID-19 on the Market
The global COVID-19 pandemic had a significant impact on the automotive carbon fiber composites parts market. Disruptions in the supply chain and lockdowns halted vehicle production worldwide. However, as COVID-19 restrictions ease, manufacturers are focused on increasing production capacity to recover from the losses incurred during the pandemic.
Rising Demand for Electric Vehicles
The surge in demand for electric vehicles, driven by factors like fuel efficiency, high performance, and lightweight properties, presents lucrative opportunities for carbon fiber composites parts. The trend towards vehicle electrification and government regulations on emissions fuel the demand for EVs, propelling the automotive carbon fiber composites parts market. The lightweight nature of these components enhances travel time and battery performance.
Sports Cars and Luxury Vehicles Driving Growth
Luxury and sports car manufacturers are increasingly adopting carbon composites parts to reduce vehicle weight, leading to improved performance and fuel efficiency. The popularity of sports cars and racing events is rising globally, driving the demand for lightweight car parts. Europe, with its rapid adoption of electric and hybrid vehicles, is a significant market for carbon composite parts in sports and luxury cars.
Regional Insights: Europe Taking the Lead
Europe holds a prominent share in the automotive carbon fiber composites parts market, with countries like Germany, France, Italy, and Nordic Countries driving demand for luxury and sports cars. The region's emphasis on lightweight and fuel-efficient vehicles aligns with stringent regulations. Additionally, Europe witnesses a high demand for carbon composite parts due to the presence of top sports car manufacturers.
Key Players and Competition Landscape
Key players in the automotive carbon fiber composites parts market include Plasan Carbon Composites, Faurecia SE, Toray Industries, Mitsubishi Chemical Carbon Fiber and Composites, SGL Carbon, Hexcel Corporation, TEIJIN LIMITED, and more. Collaboration and innovation are key strategies to overcome challenges and drive market growth.
𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/checkout.php?rep_id=84572<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
Contact Us
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
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