(MENAFN- GlobeNewsWire - Nasdaq) The comprehensive report provides an in-depth analysis of market trends, drivers and forecasts in the Heavy-Duty Vehicle Braking Systems Market to 2030.Dublin, Jan. 30, 2025 (GLOBE NEWSWIRE) -- The "Heavy-Duty Vehicle Braking System - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Heavy-Duty Vehicle Braking System was estimated at US$8 Billion in 2023 and is projected to reach US$9.9 Billion by 2030, growing at a CAGR of 3.0% from 2023 to 2030.
How Are Industry Standards and Regulations Shaping Heavy-Duty Vehicle Braking Systems?
The development and implementation of heavy-duty vehicle braking systems are heavily influenced by industry standards and regulations. What role do these play in shaping the technology? As safety and environmental concerns continue to rise, regulatory bodies around the world are imposing stricter standards on the performance and emissions of heavy-duty vehicles. For example, regulations in the United States, Europe, and Asia require that heavy-duty vehicles be equipped with anti-lock braking systems (ABS) to prevent wheel lock-up during emergency braking situations, thereby reducing the risk of accidents. These regulations also mandate regular testing and certification of braking systems to ensure they can perform under various conditions, including fully loaded and steep gradient scenarios.
Additionally, environmental regulations are driving the adoption of low-emission braking technologies, such as air disc brakes, which produce fewer particulates than traditional drum brakes. Industry standards, often developed by organizations like the Society of Automotive Engineers (SAE) and the International Organization for Standardization (ISO), also play a critical role in setting the benchmarks for braking performance, durability, and reliability.
What Factors Are Driving the Growth in the Heavy-Duty Vehicle Braking System Market?
The growth in the heavy-duty vehicle braking system market is driven by several factors that reflect broader trends in transportation, safety, and technology. One of the primary drivers is the increasing global demand for commercial vehicles, particularly in emerging markets where industrialization and urbanization are rapidly expanding. This demand necessitates the production of more heavy-duty vehicles, each requiring robust braking systems to ensure safe operation. Technological advancements are also propelling market growth, with innovations such as electronic braking systems and regenerative braking becoming standard features in new vehicle models. These technologies not only enhance safety and performance but also contribute to fuel efficiency and reduced maintenance costs, making them attractive to fleet operators.
Additionally, stringent safety regulations and environmental standards are pushing manufacturers to develop more advanced braking systems that comply with these requirements, further driving market expansion. The rise of electric and hybrid heavy-duty vehicles is another significant factor, as these vehicles require specialized braking systems that differ from those used in traditional diesel-powered trucks. Finally, the increasing focus on reducing vehicle downtime and improving overall fleet efficiency is leading to greater investment in high-quality, durable braking systems that offer longer service intervals and lower total cost of ownership. Together, these factors are fueling the growth of the heavy-duty vehicle braking system market, ensuring it remains a critical area of innovation and development in the automotive industry.
Key Insights:
Market Growth: Understand the significant growth trajectory of the Trucks Application segment, which is expected to reach US$5.5 Billion by 2030 with a CAGR of a 3.5%. The Buses Application segment is also set to grow at 2.7% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, which was estimated at $2.2 Billion in 2023, and China, forecasted to grow at an impressive 5.9% CAGR to reach $2.0 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
How is the Global Heavy-Duty Vehicle Braking System Market expected to evolve by 2030? What are the main drivers and restraints affecting the market? Which market segments will grow the most over the forecast period? How will market shares for different regions and segments change by 2030? Who are the leading players in the market, and what are their prospects?
Report Features:
Comprehensive Market Data : Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030. In-Depth Regional Analysis : Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles : Coverage of major players such as Akebono Brake Industry, Baer Brakes, Brembo, Carlisle Brake and Friction, Tenneco and more. Complimentary Updates : Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 48 Featured):
Akebono Brake Industry Co. Baer Brakes Brembo Carlisle Brake and Friction Cojali Continental Automotive Technologies Cummins Dr. Ing. h.c. F. Porsche Haldex Knorr-Bremse Nabtesco Nisshinbo Holdings Tenneco Warner Electric ZF Friedrichshafen
Key Attributes:
Report Attribute | Details |
No. of Pages | 189 |
Forecast Period | 2023 - 2030 |
Estimated Market Value (USD) in 2023 | $8 Billion |
Forecasted Market Value (USD) by 2030 | $9.9 Billion |
Compound Annual Growth Rate | 3.0% |
Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
Advancing Safety and Efficiency: Understanding Modern Heavy-Duty Vehicle Brake Systems Global Market Prospects & Outlook Heavy-Duty Vehicle Braking Systems Market Enjoys Pothole-Free Rise with Confluence of Favorable Drivers Analysis by Braking System Analysis by Distribution Channel Analysis by Application Regional Analysis Economic Frontiers: Trends, Trials & Transformations Automotive Brakes: An Overview Understanding the Automotive Braking System Drum Brakes: Pros and Cons Hydraulic Braking Systems Clutch vs Brake: Key Differences Braking Trends in the Automotive Market Advancements in the Brake Technology Brake Systems of the Future Competitive Scenario Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 Recent Market Activity
MARKET TRENDS & DRIVERS
Insights into Cog & Wheel of Advanced Heavy-Duty Truck Brake Control Systems The Safety Mandate: How Stricter Regulations are Accelerating Advances in Heavy-Duty Braking Systems Increasing Focus on Enhanced Safety Expands the Market for Advanced Braking Solutions for Heavy-Duty Vehicles The Material Revolution: How Lightweight and Durable Innovations are Transforming Heavy-Duty Vehicle Braking Systems Redefining Efficiency and Innovation: The Synergy Between Regenerative Braking and Friction Disc Technology Select Innovations & Advancements Revolutionizing Commercial Vehicle Safety: Advancements in Heavy-Duty Braking Systems Focus on Reducing Stopping Distances Strengthens the Business Case for Upgraded Braking Systems for Heavy-Duty Vehicles Shift Toward Autonomous and Semi-Autonomous Vehicles Expands the Market for Smart Braking Systems in Heavy-Duty Vehicles Trends in Commercial, Residential & Industrial Construction Sectors Shape the Future Growth Outlook for Heavy-Duty Vehicles Leading to Braking System Rising Demand Advancements in Brake Technology Drive Adoption of High-Performance Braking Systems in Heavy-Duty Vehicles in Construction Sector Despite Challenging Times, Mining Industry Remains a Key Market for Heavy-Duty Vehicle Braking System Sustained Rise in Infrastructure Spending Bodes Well for the Market Freight Boom and Infra Development Accelerate Demand for Advanced Braking Systems in Heavy-Duty Vehicles Increasing Mechanization of Large-Scale Agricultural Operations Spurs Rising Demand for Heavy-Duty Vehicles Capable of Land Clearing and Soil Preparation Electrification Drives Breakthroughs in Heavy-Duty Vehicle Braking Systems Growing Signs of Long-Run of High Inflation & the Need for Long-Term Efforts to Control it Bodes Well for Heavy-Duty Commercial EVs Regenerative Breaking to Gain Tempo with the Unwavering EV Trend A Strong Freight Trucking Industry Supported by Rise in Global Trade & Retail Brings Cheer for Electric Trucks With the Future of Commercial Transportation Being Electric, Here's How Fleet Operators Can Be Prepared Here's Why the Expanding Commercial EV Fleet Will Need Exclusive EV Fleet Management Systems Robust Spike in e-Commerce Sales Bodes Well for Electrified Last Mile Delivery Trend Toward Retrofitting and Upgrading Older Heavy-Duty Vehicles Strengthens the Aftermarket for Braking Systems Aging World Vehicle Fleet Drives Replacement Braking System Demand in the Aftermarket Expansion of Urbanization and Large-Scale Infrastructure Projects Globally Spurs Growing Demand for Heavy-Duty Vehicle Braking System Critical Risks and Responsibilities: Addressing Brake Violations in Commercial Vehicles Mitigating Brake Issues in Heavy-Duty Vehicles: Challenges and Best Practices
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Heavy-Duty Vehicle Braking System Market
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