Market Research Report
US Automotive Ceramics Market 2020-2026
|US Automotive Ceramics Market 2020-2026|
Published: August 9, 2020
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Full-title:US Automotive Ceramics Market Size, Share & Trends Analysis Report, by Material (Alumina Oxide Ceramics, Zirconia Oxide ceramics, and Others), by Application (Automotive Engine Parts, Automotive Electronics, Automotive Exhaust Systems, and Others) and Forecast, 2020-2026.
The US automotive ceramics market is estimated to grow at a CAGR of 5.7% during the forecast period. The rising automotive industry is the major factor in driving the market growth. As per the International Trade Administration (ITA), the US has one of the largest automotive markets across the globe. In 2018, the US light vehicle sales reached 17.2 million units. In 2018, the US was the second-largest market for the production and sales of vehicles. In addition, several automakers have transmission and engine plants in the US and perform R&D, design, and testing in the US.*In the US, total foreign direct investment (FDI) in the automotive industry reached $114.6 billion in 2018.
In 2018, the US exported 1.8 million new light vehicles and 131,200 medium and heavy trucks (valued at more than $60 billion) to over 200 markets across the globe, with additional exports of automotive components was valued at $88.5 billion. This, in turn, has led to the adoption of automotive ceramics that are used in the vehicle components. Some instances of automotive components where ceramics are applied include catalysts and catalyst supports for emission control devices, spark plug insulators, and sensors of several types.
The market is segmented based on material and application. Based on material, the market is classified into alumina oxide ceramics, zirconia oxide ceramics, and others. Based on the application, the market is classified into automotive engine parts, automotive electronics, automotive exhaust systems, and others. Automotive engine parts are estimated to gain potential share in the market owing to the presence of some key manufacturers of the automotive engine such as Cummins Inc. and General Motors in the country. The ceramic-based automotive engine has been gaining significance owing to its major benefit of improving fuel efficiency without affecting the safety or performance of automobiles.
Some prominent players in the market include Kyocera Corp., CoorsTek, Inc., Applied Ceramics, Inc., and Morgan Advanced Materials plc. Product launches and mergers and acquisitions are considered as key strategies adopted by the market players, to increase their competitiveness. For instance, in July 2018, CoorsTek declared the opening of a new R&D center in Uden, The Netherlands. The new R&D center is closely associated with CoorsTek R&D teams in the US and Japan. The R&D center is engaged in the development of technical ceramics to support CoorsTek customers across the globe. The Company has increased to eight production sites in Europe, and the new R&D investment in the Netherlands facility is the new step in a multi-year process for the expansion of capabilities in the European market. It will better position the company to constantly serve as one of the major players in technical ceramics innovation and development.
The market study of the US automotive ceramics market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report is intended for manufacturers, suppliers, and distributors of automotive components, for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
The Report Covers: