The global heavy-duty vehicle engine brake market has the potential to grow by USD 110.1 million during 2019-2023. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 6%.
The growing adoption of electronically assisted braking functionalities and the economic advantage for vehicle owners are some of the major factors driving the growth of heavy-duty vehicle engine brake market size. The US, China, and Japan are currently the significant markets for heavy-duty vehicle engine brakes.
Heavy-duty Vehicle Engine Brake Market Report - Key Insights
Scope of this Report
The report provides a detailed analysis of the market by type and geography. Also, the heavy-duty vehicle engine brake market analysis report analyzes the market’s competitive landscape and offers information on several market vendors.
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Market Segmentation
Heavy-duty Vehicle Engine Brake Market by Type
- Compression release brake
- Exhaust brake
- Retarder
Heavy-duty Vehicle Engine Brake Market by Region
- APAC
- Europe
- MEA
- North America
- South America
Market Competitive Analysis
The heavy-duty vehicle engine brake market is concentrated, and the degree of concentration will increase during the forecast period. The market is competitive, and the rising concerns about in-vehicle safety and improved safety norms, manufacturers are launching new models with advanced safety features. AB Volvo, China FAW Group Co. Ltd., and Eaton Corp. Plc are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the increased cost of vehicles with engine brake will challenge the growth of the market participants. To make the most of the increasing heavy-duty vehicle engine brake market size, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The heavy-duty vehicle engine brake market forecast report provides information on the production, sustainability, and prospects of several companies, including:
- 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
- Voith GmbH & Co. KGaA
Heavy-duty Vehicle Engine Brake Market: Key Drivers and Trends
As heavy-duty vehicles carry a higher load compared to medium-duty cars, a larger force is required to stop the vehicle. The increase in the use of service brakes over a long duration increases friction, and the heat generated at the disc and the brake pad contact point increases the wear and tear of the brake pads and disc. This results in fire in the brakes, which will lead to increased maintenance costs for vehicle owners. This will subsequently drive the demand for heavy-duty vehicle engine brakes, driving market growth.
- Heavy-duty vehicle engine brake market trends, such as the growing adoption of electronically assisted braking functionalities will also influence the market growth during the forecast period.
- Advances in the automotive industry have led to the development of auxiliary braking systems such as engine brakes.
- To reduce the number of road accidents, government bodies are emphasizing on integrating advanced safety technologies into vehicles.
- For instance, the US government has already made it mandatory to equip all vehicles with automatic emergency brake (AEB) systems by 2022.
- This will increase the adoption of advanced braking technologies, which will lead to further inventions in engine braking systems.
- As a result of such factors, the heavy-duty vehicle engine brake market size will grow at a CAGR of almost 6% during 2019-2023.
Heavy-duty Vehicle Engine Brake Market: Segmentation by Region
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North America is a significant market for heavy-duty vehicle engine brakes. The ongoing expansion of the oil and gas industry and the growing industrial manufacturing sector are some of the factors driving market growth in the region. The increase in the sales of class 7 and 8 vehicles with standard fitment of engine brakes will also fuel heavy-duty vehicle engine brake market size.
During the forecast period, almost 32% of the overall market growth will originate from North America. However, market growth in this region will be slower than the growth of the market in APAC and South America.
Heavy-duty Vehicle Engine Brake Market: Segmentation by Type
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Compression release braking systems are highly compatible with cruise control and antilock braking system of the vehicle. The brake features a two-stage operation and is configured by a two-part housing, which simplifies its maintenance. The increasing demand for heavy-duty trucks and stringent safety norms implemented by governing bodies have induced vehicle manufacturers to integrate heavy-duty trucks with advanced safety features, driving the need for compression release brakes.
As a result, the heavy-duty vehicle engine brake market size will steadily increase in the compression release brakes segment during the forecast period. This report provides an accurate prediction of the contribution of various segments to heavy-duty vehicle engine brake market growth.
Heavy-duty Vehicle Engine Brake Market: Key Highlights of the Report
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the heavy-duty vehicle engine brake market growth during the next five years
- Precise estimation of the global heavy-duty vehicle engine brake market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the heavy-duty vehicle engine brake industry across the APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of heavy-duty vehicle engine brake manufacturers
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