Valley Cottage, NY -- (SBWIRE) -- 12/15/2017 -- Off Highway Vehicles Brake Systems Market: Introduction

An off highway vehicle is a 2 to 8 wheeled motorized vehicle which is not designed to be run on highways, but are capable to travel on snow, swampland and other natural terrains accordingly. There are various types of braking systems used in an off highway vehicle according to the applications. The off highway vehicle brake system slightly differs from an on road vehicle in terms of its built in structure. The brake system is engineered and covered so that no dust, mud or other pollutants can impact the braking system. Owing to the vast use of off highway vehicles in various industries including construction, mining, military, agricultural, and forestry etc. is expected to fuel the growth of off highway vehicles brake system across the globe during the forecast period.

Off Highway Vehicles Brake Systems Market: Dynamics

Growing active participation as well as interests towards motor sports such as rally, desert racing, and rockcrawling is one of the key factors driving the growth of off highway vehicles brake system market. Increasing construction activities is bound to increase the demand for construction vehicles which in turn is expected to increase the demand for brake systems during the forecast period. Growing agricultural industries is fueling the demand for agricultural vehicles (especially agricultural tractors) which in turns is fueling the demand for off highway vehicle brake system. Increasing national security concerns is leading to the rising number of land military vehicles which in turn is propelling the demand for off highway vehicles brake system.

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The application of innovative features such as automatic traction control and electronic stability control in the of highway vehicles brake system is an ongoing trend in the market

Increasingly growing competition among the players in the automotive industry in terms of quality, cost, performance and size of the product will be the challenge for the manufacturers to produce their product most prominently. Increasing cost pressure on automotive OEMs will also be a challenge to be tackled.

Off Highway Vehicles Brake Systems Market: Segment

Global off highway vehicles brake systems market can be segmented by brake type, by technology, by vehicle type, and by application

On the basis of type of brake the global off highway vehicles brake systems market can be segmented as

Disc brakes
Drum brake
On the basis of type of technology the global off highway vehicles brake systems market can be segmented as

Hydraulic brake
Pneumatic brake
Others
On the basis of vehicle type the global off highway vehicles brake systems market can be segmented as

Light duty
Medium duty
Heavy duty
On the basis of type of application the global off highway vehicles brake systems market can be segmented as

Construction and mining vehicles
Agricultural and forestry vehicles
ATV
Military vehicles
Snowmobile and Trail bike
Others(jeep, golf carts, go carts, recreation utility vehicles)
Off Highway Vehicles Brake Systems Market: Regional Outlook

Owing to the wide applications of off highway vehicles in different industries, the global market for off highway vehicle brake system is expected to grow with a significant pace during the forecast period. Growing industrialization as well as civilization in the countries of Asia Pacific and Latin America is expected to increase the demand for construction vehicles which in turn is anticipated to witness significant growth in the off highway vehicle brake system market during the forecast period. Rising attraction towards off road motor sports and activities in the countries of North America and Europe is expected to fuel the demand for off highway vehicle brake system over the coming years. Reappearing trends for off road vehicles in Japan is anticipated to propel the demand for off highway vehicle brake system during the forecast period

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Off Highway Vehicles Brake Systems Market: Key Participants

Examples of some of the market participants identified across the value chain of the global off highway vehicles brake system market include:

Carlisle Brake & Friction
Delphi Automotive PLC
Robert Bosch GmbH
Wabco Holdings Inc
Continental AG
Federal-Mogul Holdings Corp.
Hitachi Automotive Systems Americas, Inc.,