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

February 6, 2020 GMT
Global Heavy-Duty Vehicle Braking System Market 2019-2023 | Growing Popularity of Lightweight Braking Systems to Boost Growth | Technavio
Global Heavy-Duty Vehicle Braking System Market 2019-2023 | Growing Popularity of Lightweight Braking Systems to Boost Growth | Technavio

LONDON--(BUSINESS WIRE)--Feb 6, 2020--

The heavy-duty vehicle braking system market size is poised to grow by 300.75 thousand units during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global heavy-duty vehicle braking system market 2019-2023 (Graphic: Business Wire)

Over the years, China, Japan, North American countries, and Western European countries have emerged as the major markets for heavy-duty vehicles. However, the heavy-duty vehicles market is expected to witness huge demand from Eastern European countries during the forecast period. Factors such as the increase in manufacturing activities and improvement in road infrastructure are expected to drive the demand for heavy-duty vehicles in India and Eastern Europe countries. In addition, India is witnessing a faster economic growth, which positively correlates with the growth in demand for transportation and logistics, thereby driving the demand for heavy-duty vehicles. Thus, the increasing demand for heavy-duty vehicles in India and Eastern Europe is expected to drive the growth of the market during the forecast period.

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As per Technavio, the growing popularity of lightweight braking systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

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 resulting in the development of lighter and high-performance braking system. Moreover, the increasing awareness on safety technologies and improving braking technologies like the brake-by-wire technology will reduce the requirement for metal components, thereby reducing the weight of vehicle. Thus, the growing popularity of lightweight braking systems is expected to be a positive trend in the global heavy-duty vehicle braking system market.

“Factors such as the technological advances in braking systems, and the introduction of brake dust filters will have a positive impact on the growth of the heavy-duty vehicle braking system market value during the forecast period,” says a senior analyst at Technavio.

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Heavy-Duty Vehicle Braking System Market: Segmentation Analysis

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

The APAC region led the heavy-duty vehicle braking system market in 2018, followed by the Americas and EMEA respectively. The growth of the heavy-duty vehicle braking system market share in APAC can be attributed to factors such as the strong economic growth, and the rising scale of manufacturing activities in India.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com/

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INDUSTRY KEYWORD: AUTOMOTIVE GENERAL AUTOMOTIVE

SOURCE: Technavio Research

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PUB: 02/06/2020 03:30 PM/DISC: 02/06/2020 03:30 PM

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