Commercial Vehicle Foundation Brakes Market Projected to Grow Steadily During 2017 - 2027
Increasing population, industrial activity and the ensuing rise in demand for transportation are creating an idiosyncratic opportunity for the global commercial vehicle foundation brake market. Additionally, the steady rise in logistics, development of road infrastructure and distribution & public transportation are also spurring the global commercial vehicle foundation brakes market. A foundation brake is an assembly of brake components, such as calipers, rotors, drums, vacuum boosters and master cylinders, spring actuators and mechanical brake mechanism, which includes the brake shoes & friction material. This assembly is mounted around the wheels to operate the braking system, particularly in an air brake system.
The s-cam drum brake is the most popular kind of foundation brake. It is a drum brake that utilizes linkage and air brake chambers to perform the braking operation in a vehicle. On the flip side, the disc brake is also gaining significant traction in foundation brakes, in which the rotor is partially visible, owing to the fact that the wheel, caliper and dust shield usually cover a part of it. Furthermore, the wedge air brake system is a type of drum brake that encompasses brake shoes and brake drums without exposed brake linkage. Wedge air brakes have a self-adjusting mechanism. Flexibility and low operational cost remain the prime focus of key manufacturers in the global commercial vehicle foundation brakes market. It is anticipated that the global commercial vehicle foundation brakes market will grow with a remarkable CAGR during the forecast period.
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Commercial Vehicle Foundation Brakes Market: Dynamics
Globalization of vehicle concepts, rising transportation infrastructure and increasing demand for food trucks, refrigerated vehicles and improved safety features in commercial vehicle are expected to embellish the global commercial vehicle foundation brakes market by the end of 2027. Moreover, National Green Tribunal (NGT's) push on replacement of old diesel vehicles along with government regulations for modernization program are expected to trigger the global commercial vehicle foundation brakes market during the forecast period.
Government regulations pertaining to vehicle length and overloading norms are expected to hinder the global commercial vehicle foundation brakes market during the forecast period. Incipient trends, such as increasing luxury buses and emerging advanced technology, such as ABS (Anti-lock brake system), electronic systems and ASR (Automatic traction control system) for safer driving are estimated to drive the future of this market.
Commercial Vehicle Foundation Brakes Market: Segmentation
The global commercial vehicle foundation brakes market can be segmented on the basis of product type, commercial vehicle type and sales channels.
The global commercial vehicle foundation brakes market can be segmented on the basis of product type as:
The global commercial vehicle foundation brakes market can be segmented on the basis of commercial vehicle type as:
Light Commercial Vehicle (LCV)
Medium Commercial Vehicle (MCV)
Heavy Commercial Vehicle (HCV)
The global commercial vehicle foundation brakes market can be segmented on the basis of sales channels as:
Commercial Vehicle Foundation Brakes Market: Regional Outlook
Increasing demand for transportation of goods and passengers is giving impetus to the market and triggering a wave for the manufacturing of commercial vehicles in Asia Pacific. It is anticipated that North America is gaining significant traction in the global commercial vehicle foundation brakes market, owing to the increasing demand for medium commercial vehicles (Classes 4 to 7). In Europe, light and medium commercial vehicles are also attaining high traction in comparison to heavy commercial vehicles, owing to the stringent government regulations pertaining to the replacement of old heavy trucks. It has been observed that over the past few years, the export of goods has been declining; subsequently, it is anticipated that this factor may play a critical role in hindering the growth of heavy commercial vehicles during the forecast period. In MEA, OEM’s sales channels are expected to grow with significant CAGRs. Increasing tourism activity, particularly in Egypt and Morocco may give added impetus to transportation as well as the global commercial vehicle foundation brakes market during the forecast period.
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Commercial Vehicle Foundation Brakes Market: Key Participants
The key participants of the global commercial vehicle foundation brakes markets are:
Robert Bosch GmbH
Akebono Brake Corporation
MASU BRAKES PVT LTD
R M Brake Dicss & Drum
Nabtesco Automotive Corporation
HOV AUTO LTD
Tata AutoComp Systems Ltd.
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