The global heavy-duty vehicle engine brake market at a CAGR of almost 6% during the forecast period
NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Global Heavy-duty Vehicle Engine Brake Market: About this market
This heavy-duty vehicle engine brake market analysis considers sales from compression release brake, exhaust brake, and retarder types. Our study also finds the sales of heavy-duty vehicle engine brake in APAC, Europe, North America, South America, and MEA. In 2018, the compression release brake segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for heavy-duty trucks and stringent safety norms implemented by governing bodies will play a significant role in the compression release brake segment to maintain its market position. Also, our global heavy-duty vehicle engine brake market report looks at factors such as economic advantages for vehicle owners, increasing demand for heavy-duty vehicles, and the launch of new truck models equipped with engine brakes. However, loud noise generation increased cost of vehicles with engine brake, and raw material and component price volatility may hamper the growth of the heavy-duty vehicle engine brake industry over the forecast period.
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Global Heavy-duty Vehicle Engine Brake Market: Overview
Economic advantages for vehicle owners
The life of service brakes significantly varies with the overall weight of the vehicle. While driving a heavy-duty vehicle down a steep slope, frequent engagement of service brakes is required to avoid accidents. Frequent use of service brake over a long duration raises friction and, subsequently, the heat generated at the disc and brake pad contact point, which increases wear and tear of brake pads and brake disc. Engine brakes retard the vehicle speed without the use of service brakes. This results in a significant reduction in service brake wear attributed to its constant use. The use of engine brakes trebles the service brake life, significantly reducing expenditure on service brake replacement. Therefore, heavy-duty vehicle owners prefer engine brakes. Such economic advantages will lead to the expansion of the global heavy-duty vehicle engine brake market at a CAGR of almost 6% during the forecast period.
Growing adoption of electronically assisted braking functionalities
The braking system is a pivotal part of safety for any vehicle, as it ensures optimum vehicle safety and controllability. Advances in the automotive industry have resulted in the development of auxiliary braking systems: such as engine brakes. Further, the emergence of electronic systems in vehicles is paving the way for the adoption of numerous brake-related functionalities, such as an all-electronic braking system. The advent of advanced brake assist functions, such as electronic brakeforce distribution (EBD), anti-lock braking system (ABS), electronic brake assist (EBA), traction control system (TCS), and electronic stability control (ESC), is expanding braking capabilities for heavy-duty vehicles. This development is expected to have a positive impact on the overall market growth.
Competitive Landscape
With the presence of a few major players, the global heavy-duty vehicle engine brake market is moderately concentrated. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading heavy-duty vehicle engine brake manufacturers, that include AB Volvo, China FAW Group Co. Ltd., Eaton Corp. Plc, Jacobs Vehicle Systems Inc., MAN SE, Nippon Steel Corp., Pacbrake Co., Scania AB (publ), Streparava Spa, and Voith GmbH & Co. KGaA
Also, the heavy-duty vehicle engine brake market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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