Connect with us

Research

Reports And Data: Global Engine Brake Market To Reach $1.78B By 2026

Improved braking mechanism provided by engine brakes coupled with the availability of a highly cost-effective system is estimated to drive the market demand.

Advertisement

The global engine brake market is expected to reach $1.78 billion by 2026, 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.

Advertisement
Click Here to Read More
Advertisement

The growth in the automotive industry contributes to the increasing demand globally. Factors leading to the growth of the market include the rising awareness of safety measures and approving government regulation which supports manufacturers to invest in better technologies of engine brakes. In addition, 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.

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.

Advertisement

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 $408.4 million in 2018, which is 11.6% over the revenue generation in the previous year, according to Reports and Data’s research.

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 vehicle in India is estimated to reach $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.

Key participants in this research 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 Co. among others.

Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/963

Advertisement

Loading Post...

Loading Post...

Loading Post...

Advertisement

POPULAR POSTS

Research

ABI Research: 2020 Will Be The Year Of Cooperative Mobility Via The Connected Car 

Research

Examining Auto’s Future: Deloitte Automotive Consumer Study 

Research

Kandi Announces Strategic Cooperation With Jinpeng To Jointly Develop Pure EV Market

Research

AMN Quick Poll: Does Washington Affect The Way You Do Business?

Connect