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Technavio’s market research analyst predicts that the global commercial vehicle electronically controlled air suspension (ECAS) market will grow steadily and post a CAGR of about 6% by 2020. One of the primary factors attributing to the growth of the market will be the growing demand for Class 7 and Class 8 trucks. It has been observed that there will be a high demand for heavy haul trucks in the APAC region, especially in countries such as India, Indonesia, Thailand, China, and Malaysia. The rising requirement will be mainly due to the increasing demand for infrastructure and the growing economies of these countries. Moreover, strict emission norms have forced OEMs (original equipment manufacturer) to adopt advanced fuel-efficient technologies, AMT (automatic manual transmission), lightweight materials, and downsize their engine size and powertrain. These developments coupled with recent product innovations will lead to the increased production of heavy haul trucks over the next four years.
One of the recent trends in the market is the adoption of truck platooning technology. This technology enables multiple trucks to travel at an aerodynamically effective distance and drive cooperatively by maintaining the distance at high speeds. Also, communications among truck fleets are empowered by wireless connectivity, which allows the platoon to synchronize their speed and braking actions automatically. Such technologies result in efficient road travel, safe commute, better space utilization on the road, and operative traffic management.
The level of competition in this market is controlled by the existing and established players. These vendors have a competitive advantage because of their higher portfolio sizes and ability to develop commercial vehicles with ECAS systems. The manufacturers also invest in technologies to introduce and develop innovations that can be customized according to the consumer’s needs. Moreover, to survive in the market, vendors have to offer unique products and services during the forecast period.
The leading players in the market are:
Other prominent players in the market are Dunlop Systems, Murata, Drive-Rite, Mando, LORD, thyssenkrupp, and BWI Group.
Market researchers predict that the two axles trucks segment will dominate the market by posting a CAGR of approximately 7% by 2020. The growing demand for vehicles from EMEA and the Americas coupled with the easy installation feature of ECAS will be some of the factors contributing towards the growth of this market segment.
During 2015, North America was the largest market for commercial ECAS and accounted for almost 28% of the total market share. The higher demand for trucks with new models for achieving better fuel efficiency, productivity, and reliability will contribute to the growth of the market in North America. Furthermore, OEMs in this region will invest in R&Ds to increase efficiency and reduce the cost of sales and services.
This report, global commercial vehicle electronically controlled air suspension market, is part of Technavio’s automotive research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as auto accessories, automotive components, automotive electronics, automotive manufacturing, automotive services, powertrain, and wheels and tires. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
Additionally, Technavio affords you the ability to customize this report in line with your express requirements. Click here to customize this report.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by geography
PART 07: Market segmentation by number of axles
PART 08: Market drivers
PART 09: Market challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
PART 14: Explore Technavio
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