North American Class 4-8 Brake Systems Aftermarket

Frost & Sullivan, July 2009, Pages: 112

This study offers a detailed Market Engineering analysis of the aftermarket for class 4-8 truck brake systems. The study addresses market unit shipment and revenue size, growth potential, distribution channel analysis and revenue market share analysis, and offers an insightful look into the future of this market.

Class 4-8 Brake Systems Aftermarket: Revenue Forecast (North America), 2005-2015

- Overall revenues are expected to grow, mainly through pricing increases. Though the economic downturn is a heavy restraint on the brake market, technological developments and the economic rebound will drive the industry in the later part of the forecast period.
- Innovation is the most powerful strategy in this market, and will continue to drive revenues throughout the forecast period, despite significant restraints on some products.
- Low cost of ownership is currently the strongest criteria for fleet owner/operators. This is not expected to change throughout the forecast period.

Class 4-8 Brake Systems Aftermarket: Revenue Trends by Product Type (North America), 2005-2015

- The largest shares belong to brake rotors and drums, mainly due to their comparatively expensive average prices.
- Pads and linings also command a significant share, due to their very high unit shipment numbers.
- Pneumatic brake actuators are also somewhat surprisingly high, though that is due to a combination of a relatively high average price and relatively high unit shipments.

- Brake calipers and wheel cylinders command a very small fraction of overall revenues, due to very low unit shipments and falling average prices.

Class 4-8 Brake Systems Aftermarket: Average Aftermarket Pricing (North America), 2005-2015

- Average prices will rise on most of the products studied, due principally to technology shifts towards better-performing products.
- This not only places price premiums on many products, but minimizes price pressure from offshore competition and forestalls market commoditization.
- Increased demand for replacement parts will also drive price increases, though not nearly as much as product innovation.

Class 4-8 Brake Systems Aftermarket: Distribution Channel Analysis (North America), 2008

- Most products are sold through the HD warehouse distributor channel, due to generally lower prices and the migration of vehicles away from the OES channel by the time certain parts require replacement.
- The OES channel typically handles parts that experience routine replacement as well as parts with relatively limited adoption by the OEM. These parts, therefore, do not yet have a significant enough aftermarket demand to justify the extra SKUs for HD warehouse distributors.

Class 4-8 Brake Systems Aftermarket: Revenue Shares (North America), 2008

- Analysis of the revenue shares bring to light certain trends. The most successful manufacturers in this segment:
- Have OE supply contracts, allowing them to leverage economies of scale as well as OES channel distribution
- Supply brake components for Class 8 vehicles. These components command higher average prices and service the largest vehicle class studied, in terms of the number of trucks in operation.
- Aggressively create or pursue market opportunities, usually centered on product innovation and differentiation.
- Offer a wide variety of products for a wide variety of applications.

Class 4-8 Brake Systems Aftermarket: Market Shares of Major Participants (North America), 2008

Bendix: Key indicators for success include a product line distributed across the largest markets and brand recognition in the HD trucking industry. Bendix’s strongest attribute is leveraging their technology portfolio towards product development for emerging market segments.

Haldex: Haldex is a recognized industry name, with a strong presence in the HD aftermarket. The company’s key to success in this industry is providing a broad product line that is focused on providing for consumer needs at a value price. The company does venture into growth segments, but revenue generation favors unit shipments over price premiums.

ArvinMeritor: This company has a strong presence in all established markets, though its strength lies in strategic partnerships and joint ventures. A prime example is that of Meritor WABCO, which pioneers pneumatic disc brake technology. Though half-owned by ArvinMeritor, Meritor WABCO’s revenues were reported separately, as they are a separate company.

Other Participants Include: Affinia, Brembo, TRW, S&S Trucks, RoadLeveler, Marathon, Sirco, Kelsey Hays, Cardone, Westar, Gunite, Webb, Carlise, and various offshore manufacturers

- Executive Summary
- Market Metrics
- Brake Drum Aftermarket
- Brake Rotor Aftermarket
- Brake Actuator Aftermarket
- Wheel Cylinder Aftermarket
- Hydraulic Caliper Aftermarket
- Brake Pad Aftermarket
- Brake Lining Aftermarket
- Decision Support Database

- Bendix
- Haldex
- ArvinMeritor
- Affinia
- Brembo
- TRW
- S&S Trucks
- RoadLeveler
- Marathon
- Sirco
- Kelsey Hays
- Cardone
- Westar
- Gunite
- Webb
- Carlise

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