LONDON--(BUSINESS WIRE)--Having a safe, reliable braking system is essential in any vehicle, particularly in commercial vehicles that carry a great deal of weight. According to the UK’s Driver & Vehicle Standards Agency (DVSA), 4 out of the top 10 reasons that heavy goods vehicles (HGVs) failed their annual tests were related to brakes.
One automotive component that has become widely adopted in both commercial and private vehicles is the anti-lock braking system (ABS). ABS has become ubiquitous over the past several years, as it offers improved safety over older breaking systems in many circumstances. Infiniti Research predicts that the global ABS market for commercial vehicles will reach 21.76 million units by 2020, growing at a CAGR of 6.24%. This market growth for ABS in commercial vehicles (CVs) is attributed to regulatory enforcement, which has led to the market achieving its full potential in developed regions while the developing regions witness increased uptake in the forecast period.
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Market Development
Now there may be a new application for ABS: preventing rollover in the High Mobility Multipurpose Wheeled Vehicle (HMMWV). Ricardo Defense Systems has announced that it is launching a joint project with Lightweight Innovations For Tomorrow (LIFT) to develop a new braking system that will improve stability and reduce vehicle weight. The two organizations have modified a commercial ABS and an electronic stability control (ESC) system to have improved brake calipers, pads, and rotors. This new system has the potential to reduce fatal rollovers by up to 74%.
This development could have a significant impact both on the military and on the market for ABS. Rollover is a persistent problem that endangers the lives of many soldiers. If the project is successful, it presents new innovations and opportunities for ABS manufacturers and commercial vehicles. The Ricardo system is currently being tested in 10 vehicles with the Michigan National Guard.
Market Opportunities
Innovative projects such as this one can affect the market landscape and impact customer and manufacturer dynamics. It is essential to keep on top of the latest developments in the market in order to stay competitive and take advantage of new opportunities. The latest market intelligence study from Infiniti Research analyzes the market attractiveness and distributor landscape for brake systems in commercial vehicles. A global leader in braking systems for rail and commercial vehicles approached Infiniti to evaluate the market attractiveness and distribution landscape for CVs across target regions.
In only 12 weeks, the client was able to leverage our analysis, developing a solid understanding of the market attractiveness of brake systems for CVs across the target regions, discovering new market opportunities in countries such as Iran, Egypt, Angola, Iraq, and the Democratic Republic of Congo. These regions may witness newer technology entrants that offer solutions designed to enhance the fleet operators' efficiency, safety, and productivity.
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Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.
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