What is Global CV Brake Controls Market?
The Global CV Brake Controls Market is a sector that focuses on the systems that manage and control the braking mechanisms in commercial vehicles (CV). These controls are integral to the safety and efficiency of commercial vehicles, playing a crucial role in maintaining the stability and control of the vehicle during braking. The market includes various types of brake controls such as Anti-lock Braking System (ABS), Electronic Stability Control (ESC), and others. These systems are designed to prevent the wheels from locking up (or skidding) during braking, thereby maintaining the vehicle's steering ability. They also help to improve vehicle control, reduce wheel wear, and shorten braking distance. The Global CV Brake Controls Market is a highly specialized field, requiring a deep understanding of vehicle dynamics, brake systems, and advanced electronics.
ABS, ESC in the Global CV Brake Controls Market:
ABS and ESC are two key components of the Global CV Brake Controls Market. ABS, or Anti-lock Braking System, is a safety anti-skid braking system used on aircraft and on land vehicles, such as cars, motorcycles, trucks, and buses. ABS operates by preventing the wheels from locking up during braking, thereby maintaining tractive contact with the road surface. On the other hand, ESC, or Electronic Stability Control, is a computerized technology that improves a vehicle's stability by detecting and reducing loss of traction. When ESC detects loss of steering control, it automatically applies the brakes to help "steer" the vehicle where the driver intends to go. Both ABS and ESC are crucial for the safety and performance of commercial vehicles, and their importance is reflected in their significant market share in the Global CV Brake Controls Market.
LCV, Heavy Truck, Bus & Coach in the Global CV Brake Controls Market:
The Global CV Brake Controls Market finds its application in various areas such as Light Commercial Vehicles (LCV), Heavy Trucks, and Bus & Coach. In LCVs, these brake controls are used to enhance the safety and control of the vehicle, especially during high-speed driving and in adverse weather conditions. In Heavy Trucks, these systems are crucial in maintaining the stability of the vehicle during heavy load carrying and in preventing rollovers during sharp turns. In Bus & Coach, these brake controls are used to ensure the safety of passengers by maintaining the stability and control of the vehicle during sudden braking. The use of advanced brake controls in these areas not only improves the safety and performance of the vehicles but also contributes to the growth of the Global CV Brake Controls Market.
Global CV Brake Controls Market Outlook:
The Global CV Brake Controls Market is a dynamic and growing field. As of 2022, the market was valued at US$ 4136 million and is expected to reach US$ 5211.3 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 3.3% during the forecast period of 2023-2029. The market is dominated by major players such as Bosch, ZF, Wabco, Continental, Hyundai Mobis, ADVICS, Knorr, Bremse, Hitachi, Kormee, Mando, Zhejiang VIE, Junen, APG, Dongfeng Electronic, etc., who collectively account for about 84% of the market. North America is the largest market, contributing over 36% to the global market. ABS is the largest segment in the market, holding a share of over 64%. In terms of application, LCV is the largest segment, with a share of over 85%. These figures highlight the significant growth and potential of the Global CV Brake Controls Market.
| Report Metric | Details |
| Report Name | CV Brake Controls Market |
| Accounted market size in 2023 | US$ 4288.9 million |
| Forecasted market size in 2029 | US$ 5211.3 million |
| CAGR | 3.3 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Bosch, ZF, Wabco, Continental, Hyundai Mobis, ADVICS, Knorr-Bremse, Hitachi, Kormee, Mando, Zhejiang VIE, Junen, APG, Dongfeng Electronic |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
