In terms of revenue, Europe held the largest market share for carbon fibre composite heating elements worldwide in 2018 (about 29.0%). In the automotive, home appliance, energy, and aerospace industries, carbon fibre composite heating elements are used. The market for carbon fibre composite heating elements in Europe is anticipated to experience strong revenue growth due to end-use industry expansion. The number of new cars registered in the European Union (EU) increased to 15.2 million in 2017, up from 11.8 million in 2013, according to the International Council on Clean Transportation report on European Vehicle Market Statistics in 2018-2019.
In terms of application, the industrial sector dominated the Carbon Fiber Composite Heating Elements Market in the world in 2018, accounting for over 32.0% of total market revenue. Over the forecast period, rising applications of carbon fibre composite heating elements in wind turbines, transportation, and various heating requirements in the processing industry are anticipated to support segment growth.
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