Playing an essential role for 2 to 8 wheeled vehicles that are used for transport purposes on natural terrains including snow and swampland, off highway vehicle systems have specialized structures and designs that are useful for a number of industries such as mining, construction, forestry, and agriculture, which is anticipated to boost off highway vehicles brake systems market growth through the forecast period.
Rising Interest in Off Road Sports Activities to Boost Demand in Off Highway Vehicles Brake Systems Market
Growing interest and participation in off road motor sports such as rock crawling, motocross, and desert racing are one of the primary factors behind the growth of the off highway vehicles brake systems market.
In addition, the rapid growth of construction and agricultural sectors across the globe are anticipated to boost the demand for braking systems appropriate for the off highway vehicles commonly used for these applications.
Even the defense sector is increasingly contributing to the off highway vehicles brake systems market owing to the development of various land military vehicles that are essential for modern national security requirements.
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On the other hand, increased pressure through competition on performance, quality, and size factors while maintaining affordable prices is anticipated to act as the primary constraining factor. In addition, the growing pressure of rising operational costs for original equipment manufacturers is expected to hinder the off highway vehicles brake systems market in the near future.
Technological Innovations to Remain Major Focus for Players in Off Highway Vehicles Brake Systems Market
Key off highway vehicles brake systems market players including Carlisle Brake & Friction, Hitachi Automotive Systems, Delphi Automotive PLC, Federal-moguls Holdings, Robert Bosch GmbH, Continental AG, and Wabco Holdings, are increasingly focusing their efforts towards research activities to improve on performance through tech innovations to increase market share.
- Carlisle Brake and Friction’s range of large scale wet braking systems that make use of high density paper and carbon paper friction disks that greatly enhance durability of components and braking performance for original equipment manufacturers, which makes it ideal for use for heavy duty mining, and agricultural off highway vehicles.
- Robert Bosch GmbH have released their range of regenerative braking systems for off highway vehicles, which include vacuum based and vacuum independent designs that are compliant with the regulations of electric and conventional off highway vehicles brake systems. The technology helps in increasing the lifespan of the braking system components and increase performance in off road construction and mining sectors.
- Wabco Holdings is one of the first in the automotive industry to use hydraulic design on anti-lock braking systems for off highway vehicles use in harsh outdoor environment, and low friction surfaces such as those found in swamp lands. In addition, the company is also the industry first to develop air disk brakes for off highway vehicles with 25 inch wheels, which is claimed to significantly reduce maintenance requirements.
- The joint collaboration between MANN and HUMMEL have developed a proprietary light weight brake dust particle filter that is designed for optimal use on off highway vehicles brake systems , which is claimed to reduce dirt build up on alloy wheel rims, which improves the automotive systems resistance to irregular temperatures and corrosion.
Booming Construction Sector in Asia Pacific and South America to See Demand in Off Highway Vehicles Brake Systems Market
Growing activities of construction and industrialization in emerging economies of the Asia Pacific, and Latin America is expected to increase the demand for construction off highway vehicles in these regions, and consequently boost demand for off highway vehicles brake systems here.
On the other hand, developed nations in North America, Japan and Europe are seeing an increased interest in of road motor sports, which is anticipated to propel the off highway vehicles brake systems market in these regions through the forecast period.
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Segmentation of the Global Off Highway Vehicles Brake Systems Market
Off highway vehicles brake systems can be categorized on the basis of brake type, technology, application, and vehicle type. On the basis of brake type off highway vehicles brake systems can be divided into disc or drum brakes. On the basis of technology, off highway vehicles brake systems can be divided into hydraulic pneumatic and others. On the terms of vehicle type, off highway vehicles brake systems are divided into light, medium, or heavy duty. On the terms of application off highway vehicles brake systems can be divided into military, construction, mining, agriculture, and others