According to a new report Global Automotive Ceramics Market, published by KBV research, The Global Automotive Ceramics Market size is expected to reach $2.7 billion by 2026, rising at a market growth of 8.9% CAGR during the forecast period.
Passenger vehicles accounted for a dominant market share in 2019 and the segment is expected to retain their position over the forecast period. This is due to a higher proportion of passenger vehicles in the overall production of automobiles. The segment of commercial vehicles is expected to rise with highest growth rate over the forecast period. Investment in new commercial vehicle facilities is expected to help the segment's development.
The Asia Pacific had the largest market share in the market and over the projected period, the region is expected to be the fastest developing regional market. The region's development is due to high volume vehicle output and purchases in several of the leading countries, including China, India, Japan, and South Korea. This is also expected that the increase of international investment, the supply of low-cost labor, and the growing target demographic would also have a significant effect on business growth.
Increasing vehicle demand in Europe and North America is expected to boost the market growth in the coming years. Germany is expected to have medium to high growth opportunities in the long run, owing to its close association with premium brands such as BMW, Mercedes, and Audi.
Structural Insights: https://www.kbvresearch.com/automotive-ceramics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Kyocera Corporation, Saint-Gobain Group, Corning, Inc., 3M Company, CeramTec GmbH, Morgan Advanced Materials PLC, IBIDEN Co., Ltd., NGK Spark Plug Co., Ltd., CoorsTek, Inc., and Elan Technology, Inc.
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