Overview of the global commercial vehicle anti-lock braking system market
Market research analysts at Technavio predict that the global commercial vehicle anti-lock braking system market will grow steadily during the next four years and post a CAGR of more than 6% by 2020. This market research analysis identifies the emergence of connected truck technologies as one of the primary growth factors for the anti-lock brake systems market. The increasing focus of fleet operators towards adopting advanced technologies to ensure vehicle safety led to the penetration of several technologies adopted by the passenger car segment. The adoption of safety systems such as truck platooning help fleet operators reduce their operational costs and require the installation of several advanced driver assistance systems (ADAS) including emergency braking, anti-collision systems, adaptive cruise control systems, and lane departure warning. Analysts predict that though the existing cost pressures pose a major challenge for the penetration of anti-lock braking systems in commercial vehicles, this adoption of advanced technologies will boost the market’s growth prospects.
The rise in adoption of anti-lock brakes in commercial vehicles will result in the emergence of new businesses and opportunities for other vertical markets. For instance, the use of driver assistance and safety systems will lead to the development of autonomous vehicles and will result in the need for gathering a large amount of data. This will help companies implement corrective actions right at the product development phase and will also eliminate late-stage measures including call backs and high warranty claims.
Competitive landscape and key vendors
Characterized by the presence of a considerable number of anti-lock braking system manufacturers, this market appears to be fragmented. Since the market in the developed regions across the world exhibits full penetration levels, vendors in the anti-lock braking system market will focus on enhancing their customer base in the developing regions. Market players who have a wide product portfolio of safety systems such as ADAS utilize their existing partnerships with automotive original equipment manufacturers (OEMs) to expand business opportunities and gain more revenue shares. The competition among the market players is intense, and they have the need to develop innovative products to sustain the competitive environment. This induces several anti-lock braking systemvendors to form strategic partnerships with other players as this would help them develop innovative products by acquiring value chain participants. Analysts predict that this trend will continue throughout the predicted period and will, in turn, result in market consolidation.
The leading vendors in the market are -
The other prominent vendors in the market are Meritor Wabco, Valeo, ZF, Denso, Magna International, Ficosa International, Mando, Autoliv, Bendix, Renesas, Haldex, Jiaozuo Brake, Nissin Brake Ohio, Knorr-Bremse, Tata AutoComp, and Sundaram Clayton.
Geographical segmentation and analysis of the commercial vehicle anti-lock braking system market
This market study estimates that in terms of geographical regions APAC was the major revenue contributor to the commercial vehicle anti-lock braking systems market during 2015. This is mainly due to rapid urbanization that resulted in a steep rise in commercial vehicle sales and an increase in the number of accidents. Regulatory standards introduced by the governments of several countries such as Thailand, Singapore, Myanmar South Korea, and China, will drive the demand for anti-lock braking systems in this region during the predicted period.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global commercial vehicle anti-lock braking system market?
What are the key market trends impacting the growth of the global commercial vehicle anti-lock braking system market?
What are the challenges to market growth?
Who are the key vendors in the global commercial vehicle anti-lock braking system market?
What are the market opportunities and threats faced by the vendors in the global commercial vehicle anti-lock braking system market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global commercial vehicle anti-lock braking system market?
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