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Carbon Fiber in Automotive Industry Outlook by Size, Share, Growth, Trends, and Region 2019 to 2023
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Carbon Fiber in Automotive Industry Outlook by Size, Share, Growth, Trends, and Region 2019 to 2023

Carbon Fiber in Automotive Market Research Report - Global Forecast to 2023. The report for Carbon Fiber in Automotive Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.

The key players in Vehicle Electrification market are Robert Bosch GmbH (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), JTEKT Corporation (Japan), Nexteer Automotive (U.S.), and Mitsubishi Electric Corporation (Japan). Mando Corp. (South Korea), Borgwarner Inc. (U.S.), Delphi Automotive PLC (U.K.), Johnson Electric (Hong Kong), and Hitachi Automotive Systems, Ltd. (Japan) are among others.

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Carbon fiber is material that is composed of carbon atoms with diameter of about 5 to 10 micrometers. Carbon fiber offers many properties, which includes light weight, high strength-to-weight ratio, very high modulus elasticity-to-weight ratio, high strength, and corrosion resistance. There have been efforts to introduce carbon fiber in mass production for passenger cars, which include companies such as Ford, and General Motors. Some of the concept cars are also making extensive use of carbon fiber composites so as to make the vehicle light weight. In India, the National Aeronautical Laboratory (NAL) has developed technology for the production of carbon fiber. The wide spread use of carbon fiber is expected to drive the market in future. Carbon Fiber is five times stronger than metal, which is heavier in weight. The heavy weight of metal reduces the efficiency of vehicle makes it less likely for the car manufacturers to use it. The light weight property of carbon fiber makes it easier to adopt in car manufacture. The various applications of carbon fiber are vehicle exterior, power train system, under body system, chassis system, and interior. The increased use of carbon fiber in exterior components is expected to drive the market in near future.

On the basis of region, the market has been segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the carbon fiber in automotive market in future due to the stringent government regulations for carbon dioxide. The reduction of carbon dioxide is directly related to the overall weight of the passenger and commercial vehicles. The reduction in the weight of the vehicle will result in low carbon dioxide, which will meet the government standard. Many manufacturers in Asia Pacific are developing vehicles with reduced weight so as to meet the stringent regulation. This increase in demand for low weight vehicles will result in the growing demand for carbon fiber in automotive. Europe is expected to be the second largest market due to the growing demand for light weight vehicles. In Europe, Germany is known for its outstanding automotive industry and engineering. The German cars are highly valued due to the innovation, reliability, safety, and design. In Europe, Germany is one of the leading countries for production and sales of vehicles. World class R&D infrastructure, and highly qualified workforce, have created incomparable automotive environment. This will boost the production of automotive vehicle, in future, which will result in increased use of carbon fiber in automotive. North America is expected to be the third largest market in carbon fiber due to factors such as low interest rate and low fuel price, which have allowed the market to grow during the forecast period.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Phone: +1 646 845 9312

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