Rise in Demand from Automotive Sectors Expected to Drive World Vehicle Retarder Market over the Forecast Period: Ken Research

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Vehicle retarder is a device, used to increase or replace some of the functions of primary friction-based braking systems. It is composed of stator and rotor parts, which produce magnetic field and resistance torque through cutting magnetic lines using rotating of the rotor. It is especially useful in controlling heavy and difficult to control vehicles. By using retarder, it is possible to surge the life of brake lining 3 to 5 times, thus reducing overall costs of the braking system.

The key characteristics are reduces the efforts of brakes, slows down wearing of braking system and helps in controlling the vehicle effectively.

World Vehicle Retarder MarketAccording to study, “World Vehicle Retarder Market Research Report 2024(Covering USA, EU, China, South East Asia, Japan and etc)” the key companies operating in the world vehicle retarder market are Frenelsa, Scania AB, Voith GmbH & Co. KGaA, Klam, Telma S.A., Russ Equipment Pty Ltd., Shaanxi Fast Auto Drive Co., Ltd, Jacobs Vehicle Systems, Inc., Terca, TBK Co. Ltd., CAMA (Luoyang) Electromechanic Co Ltd., Yaohua Corp., SORL Auto Parts, Inc., Frenos Electricos Unidos, S.A., Hongquan, ZF Friedrichshafen AG. The key companies are taking various initiatives & product innovations to strengthen their presence in the market.

Based on product type, vehicle retarder market is segmented into hydraulic retarder, electric retarder and engine brake. Hydraulic retarder segment uses viscous drag forces between static and dynamic vanes in a fluid-filled chamber to achieve retardation while electric retarder uses electromagnetic induction to offer a retardation force. Additionally, engine brake segment is further sub-segmented into exhaust brake and diesel-powered vehicles. Based on installation type, market is segmented into inline installation and offline installation. Inline installation is an own oil supply system, attached to the transmission and perfectly suitable for retrofit. Based on vehicle type, market is segmented into heavy duty vehicles and others. Based on sales channel, market is segmented into original equipment manufacturers (OEMs) and aftermarket. In addition, based on gross vehicle weight rating, market is segmented into 18-55 MT, 55-100 MT and >100 MT.

The vehicle retarder market is driven by rise in demands from the automotive industry, followed by growth in trend of the transportation industry, increase in emphasis on vehicle safety solutions, growth in e-commerce sector, increase in technological advancements, rise in governments & international organizations, increase in government initiatives, overall cost reduction and increase in adoption of multistage modulating transmission retarders. However, overheating during retardation and high energy consumption may impact the market. Moreover, introduction of self-charging type electromagnetic retarders is a key trend for market.

Based on geography, China and India countries hold major share in vehicle retarder market owing to growth in automotive sectors, rise in number of accidents and increase in population & rapid urbanization in the countries. USA country is expected to witness higher growth rate due to presence of large manufacturers and growth in innovative technologies over the forecast period. It is estimated that future of the market will be bright on account of rise in adoption of multistage modulating transmission retarders during the forecast period. The worldwide market is expected to grow at a CAGR of approximately 8.0% over the next five years, will reach US $2290 million in 2024, from US $1450 million in 2019.

For more information, click on the link below:

Global Vehicle Retarder Market     

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Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91 9015378249

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