The automotive industry is significantly dynamic in nature, the industry has showcased continuous evolution over the time and has potential for endless innovation and advancement with the growing consumer needs and increasing performance of the vehicle. Of the various systems imbibed in an automotive, braking system is among the one which is the most basic and conventional system but still, has been witnessing growth and advancement over years which varies upon various parameters including vehicle type, braking requirement, component materials, implementation of newer technologies and others. Variation across vehicle types is one of the most elementary parameter that differentiates the type, intensity of braking, type of materials to be used for the components. For heavy commercial vehicles, the brake components should be capable of bearing high intensity of static and dynamic forces and ensure stoppage of vehicles within minimum distance. For this, the construction and the material requirement of HCV brakes varies from that of LCV and passenger cars, thus making HCVs a substantial area of interest.
With the growing regulatory concern and implementation of stricter stopping distance guidelines for heavy commercial vehicles makes heavy commercial vehicles brake component market to hold significant growth potential. Further, in terms of production, heavy trucks witnessed growth of 18.2% in 2017 as compared to the production in 2016. Also the global commercial vehicle sales reached 26 Mn in 2017, a growth of 6.4% as compared to 2016. Apart for aforementioned factors, the going electrification of vehicles and increase in sales of electric bused and on-going research in electric trucks is expected to demand research in novel and more efficient braking technologies, thus making the heavy commercial vehicles brake market of significant importance.
Focus on Advancement
Technological and product innovations are expected to shape the future market for heavy commercial vehicle brakes components. Manufacturers are witnessed focused on key advancements in disc brakes, ABS, hydraulics, foundation brakes, etc. Increased adoption of air brakes and supplementing braking system with advanced technology such as roll stability support, electronic stability control (ESC), collision safety, etc. Further, material developments includes utilization of lightweight materials for drums, discs, hubs, pads, shoes etc. without sacrificing durability and reliability of the product.
The research report on heavy commercial vehicles brake component market will supply necessary information on technology-strategy mapping and emerging trends with regards to heavy commercial vehicle brakes. The scope of the report includes heavy trucks, buses, off-road vehicles such as the one used in agriculture, mining, construction & earth-moving application and specialty vehicles including garbage trucks, fire trucks, ambulance, defense vehicles. The report will highlight the volume sales of the respective complete brake systems to the automakers i.e. OEMs and sales of individual components and sub-component through original equipment supplier and independent aftermarket. Apart from the overall disc and drum type systems utilized by the automakers, the aftermarket sales has been divided into components including but not limited to brake booster, master cylinder, control panel, drum brake components (brake drum, brake shoe and wheel cylinder), disc brake components (rotor, caliper and brake pad) and control components such as control valve, foot valve, relay valve, drain valve, air compressor, air dryer and brake hoses. In terms of technology, both hydraulic and pneumatic brakes has been considered to calculate market size across regions.
OEM market demand is closely related with production trends of vehicles across the countries and corresponding installation rates of listed components in the vehicles. Historical production information is collected from association and other paid data sources. These trends are closely analyzed in order to ascertain future development prospects in respective regions. Company releases and opinions of industry experts are collected to align projections and hypothesis to arrive at precise estimations concerning production growth and industry development for considered regions. Production volume of vehicles and corresponding installation rates are utilized to arrive at OEM demand volumes. The deduced volumes are multiplied with OEM pricing per unit to arrive at respective market size.
Aftermarket demand is closely related with replacement rate of listed components across vehicle categories. Fleet on road information is collected from association and other paid data sources. Further, replacement rate information from repair and maintenance service providers is collected to assess replacement demand for brake components. In addition, lifecycle analysis of brake components is also carried out to formulate apt assumptions. Replacement rates are multiplied with fleet on road to arrive at aftermarket volumes. These deduced volumes were multiplied with aftermarket prices to arrive at market size.
Further the base number thus arrived are validated from supply side. During finalization of base number, the hypothesis and facts are validated from industry participants and our panel of experts. After finalization of base number, the forecast is developed using FMI proprietary statistical model which incorporates impact of industry, economic and macro-economic factors over the market.
Key Vendor in HCV Brake Component Market
Examples of the key players identified in the global HCV brake component market incudes
- Continental AG
- ZF Friedrichshafen AG
- Delphi Automotive PLC
- Valeo S.A
- Federal-Mogul Holdings Corporation
- Nissin Kogyo Co. Ltd.
- Robert Bosch GmbH
- Akebono Brake Industry Co Ltd
- Magneti Marelli S.p.A
- Mando Corporation
- Brembo S.p.A.
- Gorilla Brake and Components Inc.
- Bendix Spicer Foundation Brakes LLC.
Key Vendor Developments
- In 2018, Meritor Inc. announced Air Disc Brakes as standard feature in Freightliner series of heavy trucks
- In 2017, the company launched air disc brakes for tractors and trailers
- In 2016, Continental AG established electronic braking system manufacturing facility in Manesar, India
- In 2015, Continental AG entered into joint venture with Huayu Automotive Systems Co. Ltd, for improvement and development of Brake components.
- In 2015, ZF Friedrichshafen AG acquired the U.S.-based TRW, which is a global manufacturer & supplier of automotive components for both OEM as well as aftermarket and named it as ZF TRW Automotive Holdings Corporation.
- In January 2017, Valeo S.A. introduced 360ABE nearshield, which is a new autonomous emergency braking system that will bring the vehicle to automatic halt to prevent impact by eliminating blind spots especially while reversing.
- In 2016, Valeo Japan Co., LTD, demonstrated for the media its automated parking and braking technologies at its Tsukuba Techno Centre, Japan.
- In 2016, Mando Corporation established R&D facility in Chennai, India for development & production of brakes and brake components.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the lubrication tools and equipment market, including background and evolution
- Macroeconomic factors affecting the lubrication tools and equipment market and its potential
- Market dynamics, such as drivers, challenges and trends
- Technology Roadmap involved from inception period to present date
- Detailed value chain analysis of the lubrication tools and equipment market
- Cost structure of the products and segments covered in the global lubrication tools and equipment market
- In-depth pricing analysis, by key product segments, regions and by major lubrication tools and equipment market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global lubrication tools and equipment market
- Analysis of the global lubrication tools and equipment market structure, including a tier-wise categorization of key Lubrication Tools and Equipment market participants
- Competitive landscape of the market, including detailed profiles of top players in the lubrication tools and equipment market