Vehicle Retarder Market: Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Vehicle Retarder Market size was valued at USD 1.6 Billion in 2022 and is projected to reach USD 2.9 Billion by 2030, growing at a CAGR of 7.8% from 2022 to 2030.
Vehicle Retarder Market Overview:
A vehicle retarder is a friction-based braking system primarily used in heavy vehicles to improve or replace some of the main functions of the equipment. These retarders help the driver improve drivability by reducing the braking force to help slow the vehicle. These vehicle retarders are widely used in buses, trucks, and other vehicles because they are usually heavy and require a lot of braking force to control these vehicles. These retarders help reduce overall brake system costs by extending brake pad life by 3-5 times. This is the major factor driving the global automotive vehicle retarder market.
Increasing road freight transport will be the key market driver for the global vehicle retarder market during the forecast period. Transporting goods makes buses or trucks heavy, which will force them to have the vehicle retarder market, which will boost the demand for the vehicle retarder market in the coming years. The Global Automotive Reducer Market report provides an overall assessment of the market. The report provides a comprehensive analysis of the key segments, trends, drivers, constraints, competitive landscape, and factors that play an important role in the market.
Vehicle Retarder market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Vehicle Retarder market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Vehicle Retarder market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Top Key Players include in the Vehicle Retarder Market are
Frenelsa, Voith, ZF, Scania, Telma, Jacobs, Klam, TBK, Shaanxi Fast, SORL, Terca, Hongquan, CAMA, and others.
- For 2021, Jacobs Vehicle Systems has launched a new line of engine brakes and hydraulic retarders for heavy vehicles. New products are designed to improve vehicle safety and reduce brake wear and maintenance costs.
- In 2020, Meritor, Inc., an American auto parts manufacturer, acquired the product portfolio and related intellectual property of TransPower, a developer of electric vehicle (EV) solutions. The acquisition expands Meritor's portfolio of electrification technologies, including regenerative braking systems and vehicle retarders.
- In 2019, German-based power transmission system manufacturer Voith Turbo launched a new line of hydraulic retarders for commercial vehicles. The new products are designed to provide reliable and consistent braking performance even under extreme operating conditions.
- In 2018, WABCO Holdings Inc., a US-based supplier of braking systems and other safety technologies for commercial vehicles, announced that it had acquired the hydraulic retarder division of Italian auto parts manufacturer Fonderie Mora Gavardo S.p.A. This acquisition expands WABCO's braking technology portfolio and includes hydraulic retarders and air disc brakes.
The Vehicle Retarder market research report is categorized based on type, applications and region.
On the Basis of Type:
- Electric retarders
- Hydraulic retarder
On the Basis of Application:
- 18-55 MT
- 55-100 MT
- >100 MT
On the Basis of Region:
Geographically, the global Vehicle Retarder market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Vehicle Retarder region is dominating this market in the upcoming future.
North America region will account for a significant market share in the Global Vehicle Retarder Market. Increasing advancements in the automobile industry are anticipated to boost the market substantially by the forecast period. Europe is projected to have significant growth over the forecast period and will account for a considerable market share will a subsequent CAGR growth over the forecast period. The Asia Pacific is projected to witness significant growth in the coming years. Increasing transport will induce the market significantly and will help Asia pacific region to acquire significant market share over the forecast period.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Vehicle Retarder Market report scope
CAGR of 7.8% during the forecast period.
Electric retarders, Hydraulic retarder
18-55 MT, 55-100 MT, >100 MT
Frenelsa, Voith, ZF, Scania, Telma, Jacobs, Klam, TBK, Shaanxi Fast, SORL, Terca, Hongquan, CAMA
Regions and Countries Covered
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Vehicle Retarder market?
Who are the key vendors of the global Vehicle Retarder market?
What are the leading key industries of the global Vehicle Retarder market?
Which factors are responsible for driving the global Vehicle Retarder market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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