Insightful Forecast on Expansion of Global Commercial Vehicle Brake Chambers Market During 2017 - 2027
Growing commercial business, industrial activities and the ensuing rise in demand for transportation and logistics service are embellishing the global commercial vehicle brake chamber market. Furthermore, rapid industrialization, steady rise in logistic, development of road infrastructure and distribution & public transportation will drive the growth of the market throughout the forecast period. The industry is presently a vital crossroad with technology advancement, government regulations and emergent markets, focusing to revolutionize the face of the industry over the last few years. Brake chambers are round metal vessels, positioned at each wheel, where the applied pressure is rehabilitated into mechanical force. These are components of a brake chamber such as dust plug, bottom cover, diaphragm, push rod, spring fixer, spring washer and top cover. In Europe, commercial vehicles are poised towards running with disk brake. VE Commercial Vehicles (VECV) will invest US$ 4.5 Bn for enhancing the commercial vehicle production capacity in India. The past few years, Asia Pacific has opened its door for multinational automobile companies, allowing them to penetrate the market and modernized transportation infrastructure to make it lucrative for end users.
Commercial Vehicle Brake Chambers Market: Dynamics
Government spending on infrastructure project, and increasing eco-friendly vehicles such as hybrid & electrical vehicle are enriching the global commercial vehicle brake chamber market during the forecast period. On the other hand, the emerging food & beverage industry is the additional vital factor for enforcing the market owing to increasing food trucks and refrigerated vehicles demand. Furthermore, increasing natural gas commercial vehicle is expected to thumping the global commercial vehicle brake chamber market. Moreover, initial hitches with the Goods and Services Tax (GST) nonetheless, and the modern tax administration is explicitly fuelling the growth in the light commercial vehicle (LCV) market in India.
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Design complication of brake chambers, each has an inadequate pushrod stroke-length capability beyond which no brake force is produced and requirement of regular maintenance, which is expected to hamper the global commercial vehicle brake chamber market during the forecast period. Additionally, other factors containing fuel prices, antagonism with alternate modes of transport such as railways are expected to hinder market growth throughout the forecast period.
Commercial Vehicle Brake Chambers Market: Segmentation
The global commercial vehicle brake chamber market can be segmented on the basis of commercial vehicle Types, Product Type and Sales channels.
The global commercial vehicle brake chamber market can be segmented on the basis of commercial vehicle type:
Light Commercial Vehicle (LCV)
Medium Commercial Vehicle (MCV)
Heavy Commercial Vehicle (HCV)
The global commercial vehicle brake chamber market can be segmented on the basis of product:
The global commercial vehicle brake chamber market can be segmented on the basis of sales Channels:
It is expected that Light Commercial Vehicle (LCV) goods carrier is growing with high digit CAGR during the forecast period owing to increasing demand for transportation of good, passenger and others.
Commercial Vehicle Brake Chambers Market: Regional Outlook
Asia Pacific is the hub of commercial vehicle owing to rapid technological advancements together with the promising business environment in countries such as China and India, which is expected to fuel the demand for commercial vehicles during the forecast period. North America is the second leading consumer of commercial vehicles, it is expected that the demand for heavy commercial vehicle will decline owing to weakening pressure to replace older vehicles, especially on-highway tractors. On the other hand, it is anticipated that Europe will grow with a remarkable growth rate owing to growing transportation particularly in Spain, France and Germany. It is anticipated that the Middle East & Africa is growing with a stable growth rate, while Turkey, Iran and Saudi Arabia have the largest fleet of commercial vehicles in the MEA region.
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Commercial Vehicle Brake Chambers Market: Key Participants
Examples of some of the key participants in the global commercial vehicle brake chambers market are:
TBK Co., Ltd.
Nabtesco Automotive Corporation
FUWA K Hitch Australia Pty. Ltd.
Zhejiang VIE Science & Technology Co.,Ltd.
Ningbo Shenfeng Automotive Brake System Co., Ltd.
Chongqing Caff Automotive Braking & Steering Systems Co., Ltd.
Tongxiang Chenyu Machinery Co., Ltd.
Zhejiang Sanzhong Machine Co., Ltd.
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