Improved braking mechanism provided by engine brakes coupled with the availability of a highly cost-effective system is estimated to drive the market demand.
Market Size – USD 1.22 Billion in 2020, Market Growth – CAGR of 6.8%, Market Trends – Expansion of the automotive industry
The global Engine Brake Market is expected to reach USD 2.05 Billion by 2028, according to a new report by Reports and Data. Engine brakes are a highly cost-effective system that helps the vehicle owner for the long-term profit. The engine brake decreases the effort needed by the primary friction brakes, which improves the lifespan of the elemental friction brake pads or shoes. This, in turn, enhances the replacement interval of primary brake components.
The growth in the automotive industry contributes to the increasing demand globally. Factors leading to the growth of the market is the rising awareness of safety measures and approving government regulation which supports manufacturers to invest in better technologies of engine brakes. Additionally, the increasing number of road accidents has raised the concern for road safety and stimulated the development of an advanced braking system which is anticipated to stimulate market demand in the forecast period. Road safety remains the elemental concern of all manufactures and is expected to open new opportunities in the market. Advancements and developments in the braking mechanisms due to the increasing demand for safety and security of the vehicle is further expected to boost the market growth in the future.
Governments across the globe have prohibited the application of engine brakes by the vehicles, to reduce the noise pollution levels, which may create hindrances in the growth of the market in the upcoming years. Typically, research shows that the decibel level to be the same as that of a giant lawnmower, which can be very disruptive to local communities.
Key participants include WABCO Vehicle Control Systems, AISIN SEIKO Co., MAN SE, Voith GmbH & Co. KGaA, Robert Bosch, ZF Friedrichshafen AG, Jacobs Vehicle Systems, Inc., SORL Auto Parts, Inc., Eaton Corporation PLC, Telma SA Auto Parts, Inc., and Pacbrake Company among others.
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Further key findings from the report suggest
- Based on vehicle type, global engine brake market is segmented into passenger vehicle and commercial vehicle. In 2018, the passenger vehicle market accounted for the largest share of 69.9% of global engine brake market.
- The compression release brake segment held the largest market share of 59.9% in 2018 and is estimated to experience the growth rate of 7.1% in the period 2019-2026. The exhaust brake segment generated a revenue of USD 408.4 million in 2018, which is 11.6% over the revenue generation in the previous year.
- Asia Pacific region dominated the market in with around 45% of the market share in 2018 and is forecasted to witness the fastest growth rate of 7.5% in the forecast period.
- The passenger Type vehicle in India is estimated to reach USD 83.5 million by 2026 and is expected to grow at the highest rate of 8.3% during the forecast period. This segment is increasing as they provide better value for money corresponded to SUVs and sedans.
- In February 2019, Jacobs Vehicle Systems launched a compression release engine brake for the all-new 2020 Hino XL Series Truck.
- In September 2018, WABCO inaugurated of a new advanced production base in Rayong, Thailand, to support increased local demand for braking systems from major commercial vehicle manufacturers.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/engine-brake-market
For the purpose of this report, Reports and Data have segmented global engine brake market on the basis of vehicle type, product, engine, transmission type, and region:
Vehicle Type Outlook (Revenue, USD Million; 2018-2028)
- Passenger Cars
- Hatchback cars
- Sedans
- MPVs
- SUVs
- Commercial Vehicles
- LCV
- HCV
Product Outlook (Revenue, USD Million; 2018-2028)
- Exhaust Brake
- Compression Brake
Engine Outlook (Revenue, USD Million; 2018-2028)
- Gasoline Engine
- Diesel Engine
Transmission Type Outlook (Revenue, USD Million; 2018-2028)
- Manual transmission
- Automatic transmission
Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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Key Advantages of Engine Brake Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Engine Brake industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Engine Brake market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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