The global truck disc brake market is segmented on the basis of product type, region. The global truck disc brake market as valued at US$ X.X million in 2016, and is expected to reach US$ X.X million at a CAGR of XX.X% over the forecast period.
Disc brake employs friction by squeezing pair of pads against the rotating disc which is attached to the wheels or machine. Disc brakes are alternatives for the most commonly used old drum brakes. Air disc brake operates more efficiently and smoothly than old drum brakes.
Consistent torque and less tendency for fading of brakes are key factors for growth of the global truck disc brake market. In addition, increasing concern among transportation industry for safe and reliable brake system, coupled with self-adjustment, better cooling, and self-cleaning are other factors expected to fuel growth of the global truck disc brake market during the forecast period.
High cost of disc brake is a key factor expected to restrain growth of the global truck disc brake market. In addition, high maintenance cost, complexity to install hydraulic systems, limited maintainability on field, and difficulty to replace abrasive pads are other factors hampering growth of the global truck disc brake market.
However, development of innovative products with cost-effectiveness can create opportunities for major players operating in the global truck disc brake market.
On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market is a dominant player in the global truck disc brake market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to the well-developed automobile industry, presence of leading truck disc brake manufacturers, and rise in number of people adopting truck disc brake for car trucks. Europe accounts for the second largest revenue share contribution to the global truck disc brake market followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to have fastest growth in terms of revenue, owing to increase in number of people installing disc brake in premium trucks in the region.
The major market players in the global truck disc brake market are ZF Friedrichshafen AG, Akebono Brake Industry Co., Ltd., Chassis Brakes International, Nissin Kogyo, Mando Corporation, APG-FTE automotive Co.,Ltd, Knorr-Bremse, Wabco Vehicle Control System.