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Commercial Vehicle Retarder Market Trends

Report ID: GMI11839 Published Date: October 2024Report Format: PDF
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Summary
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Commercial Vehicle Retarder Market Trends

Advancements in drive systems are significantly influencing the development of sophisticated braking solutions, such as retarders. Manufacturers are increasingly integrating retarders with electric and hybrid drivetrains, enhancing overall vehicle efficiency and performance. This integration not only improves energy management during braking but also optimizes the driving experience by providing smoother deceleration and reducing wear on conventional brake components.

For instance, in September 2024, ZF and Foton forged a partnership aimed at creating hybrid drive systems tailored for China's commercial vehicle market. Under this collaboration, Foton is set to produce the Hybrid Automated Manual Transmission (AMT) system, whereas ZF will be responsible for designing the TraXon 2 Hybrid system specifically for heavy-duty vehicles.

Fleet operators often hesitate to upgrade their vehicles due to the high initial installation and maintenance costs associated with advanced brake technologies. Operators in budget-sensitive sectors, in particular, prioritize cost-effective solutions and view retarders as a significant financial burden. Additionally, retrofitting older vehicle models presents challenges, as integrating modern retarders with existing braking systems often requires extensive modifications. These modifications not only increase the total cost of ownership but also necessitate specialized knowledge and training for technicians, further complicating the transition for companies looking to enhance their braking systems.

Author: Preeti Wadhwani, Satyam Jaiswal
Frequently Asked Question(FAQ) :

What is the market share of the trucks segment in the commercial vehicle retarder industry?+

The trucks segment held over 49% of the market share in 2023, propelled by the increasing demand for heavy-duty trucks and the need for advanced retarder systems to improve braking efficiency and safety.

How big is the commercial vehicle retarder market?+

The market size of commercial vehicle retarder reached USD 1.7 billion in 2023 and is set to grow at a 5.3% CAGR from 2024 to 2032, driven by the increasing focus on enhancing road safety.

How much is the Asia Pacific commercial vehicle retarder market worth?+

The Asia Pacific region accounted for over 39% of the market share in 2023 and is poised to cross USD 1.1 billion by 2032, led by government regulations promoting road safety and emission reduction in China.

Who are the major players operating in the commercial vehicle retarder industry?+

The major players in the industry include Brakes India, CAMA, Cummins, Frenelsa, Klam, Nippon Steel, Shaanxi Fast, SORL, TBK, Telma, Voith, and ZF Friedrichshafen.

Commercial Vehicle Retarder Market Scope

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