LONDON--(BUSINESS WIRE)--The off-road vehicle braking system market size is expected to grow by USD 106.37 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The growing adoption of disc brakes in off-road vehicles will be one of the significant factors behind the off-road vehicle braking system market growth. Disc brakes have a high amount of stopping power and they cool down quicker than drum brakes, as they are located outside the wheel.
Further, disc brakes make the wheels more durable unlike drum brakes, which damage the wheels gradually during the course of operation. Also, disc brakes are more convenient to clean and maintain. Such advantages of disk brakes are propelling their demand and adoption in off-road vehicles. As a result, several OEMs in the off-road vehicle segment are adopting disc brakes as a standard fitment in their models. This will have a positive impact on revenue growth in the global off-road vehicle braking system market.
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As per Technavio, the development of advanced stability control systems for off-road motorcycles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Off-Road Vehicle Braking System Market: Development of Advanced Stability Control Systems for Off-Road Motorcycles
Modern off-road motorcycles are being equipped with advanced stability control technologies to enhance stability. The use of stability control systems in off-road motorcycles prevents crashes that may occur from misjudgment on sharp bends. Motorcycle OEMs are working on improving the stability of adventure and dirt motorcycles by syncing the different safety systems. Traction control systems are finding increasing penetration in motorcycles and are serving as the base for the development of advanced stability control systems. Such developments will boost the growth of the off-road vehicle braking system market during the forecast period.
“Factors such as the emergence of all-electric off-road vehicles, and the development of ABS-equipped ATVs will have a significant impact on the growth of the off-road vehicle braking system market value during the forecast period,” says a senior analyst at Technavio.
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Off-Road Vehicle Braking System Market: Segmentation Analysis
This market research report segments the off-road vehicle braking system market by application (SxS, ATV, and off-road motorcycle) and geographic regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America, respectively. The growth of the off-road vehicle braking system market share in North America can be attributed to the strong sales of off-road vehicles such as ATV, SxS, and off-road motorcycle in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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