Demand for commercial vehicle retarders is increasing due to focus on safety and efficiency

From GlobeNewswire: 2024-11-26 06:00:00

The global commercial vehicle retarder market is projected to reach USD 2.7 billion by 2032, driven by a focus on road safety and the need for advanced braking technologies. Fleet operators are recognizing the importance of improved braking systems to enhance vehicle control, reduce accidents, and lower insurance costs, boosting operational efficiency. The expansion of e-commerce and logistics is increasing demand for efficient commercial vehicles, elevating the need for advanced braking solutions like retarders. Companies are integrating retarders to improve fuel efficiency, reduce brake wear, and lower operational costs while supporting environmentally responsible transportation practices. The electromagnetic retarders segment dominated the market in 2023, offering efficient, maintenance-free braking solutions for heavy-duty vehicles. Trucks held over 49% of the market share in 2023, driven by increasing demand in the logistics and e-commerce sectors. Asia Pacific accounted for over 39% of the market share in 2023, with China leading due to government regulations promoting road safety and emission reductions.



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