[180 Pages] Modular Braking Systems Market Report with COVID-19 Impact Analysis 2021 to 2030. The global market segmented by order, application, and region.
PORTLAND, ORAGON, USA, Oct 1, 2021 /EINPresswire.com/ – Modular Braking Systems Market Outlook 2030 –
A modular braking system, such as that used in the electronic braking system (EBS) and the anti-lock braking system (ABS) which allows the exchange of the various brake parts, including the modulator, the actuator and the brake assembly. The modular braking system upgrades a common braking system with an electronic braking system (EBS) and an anti-lock braking system (ABS). The brake system consists of many brake parts such as modulator, actuator and brake assembly. The EBS provides better traction control to the vehicle, assume that when the brake pedal is depressed, the EBS sends signals to each wheel individually to distribute the braking intensity differently to each wheel as needed by the situation. Whereas, when the ABS is engaged, the brake is applied and released internally several times, which prevents skidding and maintains better control of the vehicle. In addition, the modular braking system uses a combination of the two systems which is controlled by a central braking unit providing better braking and control of the vehicle. Thus, the modular braking system allows more efficient braking and ensures better safety.
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Major players analyzed in the report include WABCO, Knorr-Bremse, Parker Hannifin, Hilliard Corporation, SAE International, Twiflex Limited, MICO Inc., Mando Corporation, BorgWarner Inc. and Robert Bosch GmbH
COVID-19 impact analysis:
The modular brake systems market has experienced a downturn due to the COVID-19 pandemic. Since then, the growing demand for safety devices in the automotive modular braking systems market has been an evolving industry with constant R&D which has been disrupted due to lockdown. Due to the global pandemic, auto manufacturing has been halted, disrupting the supply of modular braking system. In addition, the unavailability of labor due to social distancing standards and other restrictions that have affected the production modular braking system. The modular brake system consists of many electronic components whose supply was interrupted due to the pandemic, thus stopping the manufacture of the modular brake system. In addition, due to the slowdown in the global economy and declining disposable income of people, the purchase of vehicles is expected to be affected. Due to the pandemic, the overall modular brake systems market has had a negative impact.
Main impact factors
Increasing production of passenger and utility vehicles, increasing demand for better vehicle safety, and increasing government vehicle safety rules and regulations are expected to drive market growth.
However, high maintenance and installation costs may hamper the growth of the market.
In addition, increasing demand for automobiles in the world, increasing technological advancement in automobiles, and the ability to achieve higher automobile speed provide an opportunity for market growth.
Increase in government rules and regulations for vehicle safety
Governments of all major countries have adopted regulations to install safety measures in the vehicle due to the increase in the number of road accidents resulting in death. For example, the Indian government made the installation of ABS mandatory for 2- and 4-wheel vehicles from April 2019. Additionally, car manufacturers must obtain a safety rating from organizations such as the Institute of Highway Safety (IIHS), New Car. Assessment Program (NCAP) and International Center for Automotive Technology (ICAT) to obtain a license for the sale of vehicles in the market. Hence, the increase in government protocols for vehicle safety is expected to drive the growth of the modular braking systems market.
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Increased demand for better safety in vehicles
The demand for safety devices such as ABS, traction control, electronic stability control, tire pressure monitors, airbags, telematics and others are increasing as the number of road accidents in the world is increasing. According to Safe International Road Travel (ASIRT), nearly 1.35 million people die in road accidents each year and an average of 3,700 people lose their lives on the roads every day. In addition, 20 to 50 million people sustain non-fatal injuries that lead to long-term disability. In addition, more than 38,000 people die each year in crashes on US roads with a road fatality rate of 12.4 deaths per 100,000 population. Thus, the automotive manufacturers are focusing on the production of safety devices which is expected to drive the growth of the modular braking systems market.
Main advantages of the report:
This study presents the analytical description of the Modular Braking Systems market along with current trends and future estimates to determine impending pockets of investment.
The report presents information related to key drivers, restraints, and opportunities as well as challenges in the Modular Braking Systems market.
The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the Modular Braking Systems market.
The report provides a detailed analysis of the Modular Braking Systems market based on the competitive intensity and how the competition will shape in the coming years.
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Questions Answered in the Modular Braking Systems Market Research Report:
Who are the major market players active in the Modular Braking Systems market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the coming years?
What are the driving factors, restraints, and opportunities in the Modular Braking Systems market?
What are the projections for the future that could help take further strategic action?
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