In the world economic growth, the Engine Brake industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Engine Brake market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2019, SMI analysts believe that in the next few years, Engine Brake market size will be further expanded, we expect that by 2024, The market size of the Engine Brake will reach XXX million $.
Engine brakes are an integral part of heavy vehicles such as trucks, carriers, and trailers that control the functioning of valves and mitigate the speed of the engine. Engine brakes reduce the use of primary friction brakes. This in turn increases the durability of primary friction brake pads or shoes. Such benefits of engine brakes are expected to propel growth of the global engine brakes market over the forecast period.
Increasing demand for heavy commercial vehicles is expected to propel growth of the global engine brakes market. For instance, according to The European Automobile Manufacturers Association, over 2.6 million commercial vehicles were produced in the European Union in 2018. Engine brakes are also used in drilling machines and cranes. Thus, rapid growth in the oil and mining sector is also expected to aid in growth of the market. For instance, in April 2019, the U.S. Department of Energy (DOE) announced up to US$ 39 million in federal funding for cost-shared research and development projects that aim to improve oil and natural gas technologies.
Significant growth in the construction sector in emerging economies is expected to propel growth of the global engine brakes market. For instance, according to India Brand Equity Foundation, the construction development sector in India was valued at US$ 25.12 billion from April 2000 to June 2019.
However, increasing demand for electric vehicles (EVs) is expected to hinder growth of the global engine brakes market. For instance, in March 2020, China Polestar, a Volvo subsidiary, started production of the Polestar 2 BEV.
Major players in the market are focused on enhancing their market share. For instance, in April 2020, Jacobs Vehicle Systems, Inc., a global manufacturer of diesel and natural gas engine retarding systems and valve actuation mechanisms, announced that the company will supply compression release engine brakes across the full range of Guangxi Yuchai Machinery Company Limited (Yuchai) K Series heavy-duty engines.
Major players in the market are halting production temporarily in the wake of the COVID-19 pandemic. For instance, in March 2020, MAN ceased production at the Munich site due to the rapidly increasing spread of the coronavirus.
Key Takeaways:
- Increasing demand for heavy commercial vehicles is expected to propel growth of the global engine brakes market over the forecast period
- Increasing demand for EVs is expected to hinder growth of the market
- Major players operating in the global engine brakes market include, Jacobs Vehicle Systems, Inc., VOLVO, Ennova, MAN, Eaton, and Pacbrake
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers. If you need more information, please contact SMI
Section 1: Definition
Section (2 3): Manufacturer Detail
➟ Jacobs
➟ VOLVO
➟ Ennova
➟ MAN
➟ Eaton
➟ Pacbrake
Section 4: Region Segmentation
➟ North America Country (United States, Canada)
➟ South America
➟ Asia Country (China, Japan, India, Korea)
➟ Europe Country (Germany, UK, France, Italy)
➟ Other Country (Middle East, Africa, GCC)
Section (5 6 7): Segmentation
Product Type Segmentation:
➟ Compression Release Brake
➟ Exhaust Brake
Industry Segmentation:
➟ Below 11 MT
➟ 11-15 MT
➟ Above 15 MT
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2019-2024)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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