Global Heavy-duty Vehicle Braking System Market 2019-2023 | Growing Popularity of Lightweight Braking Systems to Promote Growth | Technavio

November 19, 2018

LONDON--(BUSINESS WIRE)--Nov 19, 2018--The global heavy-duty vehicle braking system market is expected to post a CAGR of nearly 3% during the period 2019-2023, according to the latest market research report by .

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Technavio has released a new market research report on the global heavy-duty vehicle braking system market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing demand for heavy-duty vehicles in India and Eastern Europe. The braking system is a basic component in every vehicle; the designs and types of braking systems vary based on vehicle type. The increase in demand for heavy-duty vehicles is expected to have a positive impact on the growth of the market during the forecast period. Over the years, countries such as China, Japan, North American countries, and Western European countries have emerged as the major markets for heavy-duty vehicles.

This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time only:

In this report, Technavio highlights the growing popularity of lightweight braking systems as one of the key emerging trends in the global heavy-duty vehicle braking system market:

Global heavy-duty vehicle braking system market: Growing popularity of lightweight braking systems

The manufacturers of heavy-duty vehicles are aggressively working toward reducing the weight of the braking systems in their vehicles, which is encouraging them to work on the development of lighter and high-performance braking system. The requirement of lighter and durable brakes is pushing the adoption of high-performance brakes for heavy-duty vehicles across the globe. Therefore, the OEMs and tier-1 players working towards reduced weight of brakes could positively impact the market for heavy-duty vehicle braking system in the near future. The negative impact of vehicular weight on drive dynamics, fuel consumption, and emissions are the major reasons for the increasing trend of light-weighting in the braking system.

“The increasing awareness on safety technologies and improving braking technologies such as the brake-by-wire technology will reduce the requirement for metal components. Incorporation of these technologies by heavy-duty vehicle manufacturers will positively impact the heavy-duty vehicle braking system market in the future. In addition to the factors mentioned above, the use of lightweight materials is expected to have a positive impact on the growth of the global heavy-duty vehicle braking system market,” says a senior analyst at Technavio for research on automotive components.

Global heavy-duty vehicle braking system market: Segmentation analysis

This market research report segments the global heavy-duty vehicle braking system market by application (trucks and buses) and geographical regions (APAC, EMEA, and the Americas).

The trucks segment held the largest market share in 2018, accounting for nearly 79% of the market. This application segment is expected to dominate the global market throughout the forecast period.

APAC led the market in 2018 with a market share of over 51%. This region is expected to dominate the market through 2023, with an increase in its market share by over 2%.

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Regional comparison Key leading countries

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SOURCE: Technavio Research

Copyright Business Wire 2018.

PUB: 11/19/2018 08:23 AM/DISC: 11/19/2018 08:23 AM


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