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360 Degree Overview of the North American Class 6-8 Truck Safety Systems OE Market
Frost & Sullivan, April 2009, Pages: 188
This study covers the North American class 6-8 truck safety systems OE market. Class 6-8 truck safety systems consist of: driver information and warning systems (DIWS) which cover tire-pressure warning, lane departure warning, blind-spot detection, forward collision warning, night vision, and driver drowsiness warning systems, and active chassis control systems (ACCS) that include anti-lock braking, electronic stability control, adaptive cruise control, rollover prevention, collision mitigation, and electronic braking systems. Industry challenges, market drivers, restraints, and market and technology trends are detailed. Unit Shipments, average price, and revenue forecasts are provided for both DIWS and ACCS markets.
Research Overview
This Frost & Sullivan research service titled 360 Degree Overview of the North American Class 6-8 Truck Safety Systems OE Market provides a strategic analysis of the markets for key class 6-8 truck safety systems and presents in-depth technology, competitive, and quantitative analysis of the market potential and growth opportunities associated with these systems and technologies. It also captures and forecasts the existing and upcoming market and technology trends and presents the unit shipment, revenues, and price forecasts of the driver information warning systems and active chassis control systems for the period 2005 to 2015. In this research, Frost & Sullivan's expert analysts thoroughly examine the following technologies: driver information and warning systems, vehicle stability systems, collision mitigation systems and active chassis control systems.
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Market Overview
High Demand for Class 6-8 Truck Safety Systems in North America Set off by the Need to Reduce Accident-related Costs
The liquidity crunch in the current straitened economic conditions is dampening the market prospects of class 6-8 truck safety systems manufacturers, as the North American class 6-8 truck safety systems original equipment (OE) market is experiencing a slump in the new truck build rate. However, savvy market participants can turn this economic climate to their advantage by highlighting the savings accrued through accident prevention using sophisticated safety systems. At present, the Environmental Protection Agency (EPA) 2010 regulations require truck makers to incorporate novel, environment-friendly engines and components, which throw up integration issues for developers of safety systems. “Rising demand for mobile resource safety and insulation from accident-related expenses amid declining profit margins calls for additional safety system installations,” says the analyst of this research. “Safety systems are expected to offer high returns on investment (ROI) by minimizing accidents and crashes of the host truck, thereby helping fleets reduce their damage and insurance costs, which could be significantly higher than the costs of purchasing, installing, and maintaining such systems.”
There is a huge demand for integrated safety systems that incorporate multiple safety benefits. Intelligent electronic systems, based on the effective networking of several sensors and actuators are being increasingly implemented by the trucking industry. Technology standardization in sensing, distributed electronics networking, and chassis control technologies combined with the trend toward sensor fusion for optimizing performance and cost-effectiveness of safety technologies is stoking market growth. Further, strategies aimed at incorporating low-cost outsourcing, strategic partnerships with technology leaders, and development of flexible and easily upgradeable technology platforms are expected to propel growth for market participants. As the economy improves, safety technologies will rapidly gain prominence after 2010, with more trucks featuring advanced driver information and warning systems, active chassis control systems and mobile resource management technologies.
Concerted Pricing Strategies Coupled with Greater Awareness about Safety Technologies to Stoke Market Growth
The main challenge in selling advanced safety technologies in the low-margin heavy-duty trucks market is its exorbitant cost, caused by the presence of high-end features such as state-of-the-art sensing, control, and human-machine interfacing technologies. For large-scale adoption of these systems, market participants have to develop marketing tools that help substantiate the cost benefits, ROI, and payback value. Participants could promote the proven effectiveness of their systems in improving the safety, security, and efficacy of operations to offset the cost factor.
Concerted strategies aimed at cost reduction of these systems, standardization, and creating more awareness on their value proposition will fuel the market's growth. Market participants should focus on strategic pricing, sensor fusion, and integration of safety systems to enhance the cost-effectiveness of safety systems and technologies. “Networking with truck makers through virtual integration and collaborating with industry associations and industry catalysts for accelerating development and lobbying for safety-focused regulations and mandates will pay rich dividends,” explains the analyst. “Suppliers should acknowledge that upfront costs of advanced safety technologies are the most pronounced barrier to rapid unit shipment and revenue growth.” However, intensive strategies need not merely aim at reducing the upfront cost barrier but also the lifecycle cost-saving potential of safety technologies. Truck makers should also continue to impel suppliers to decrease prices to a level that ensures large-scale market adoption to achieve economies of scale, thereby benefiting not only them but also their suppliers and fleets. Truck makers could adopt multiple sourcing strategies to keep the cost of safety systems reasonable for fleets.
Technologies
The following technologies are covered in this research:
- Driver information and warning systems
- Vehicle stability systems
- Collision mitigation systems
- Active chassis control systems
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