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Strategic Analysis of the North American Class 4-8 Truck Ride Handling Systems OE Market
Frost & Sullivan, Oct 2009, Pages: 72
This study focuses on steering systems and brake systems for Class 4-8 trucks in the United States and Canada. It covers the original equipment segment of the market, but not the aftermarket. Major metrics include unit shipment and revenue forecasts, pricing analyses, and market share analyses.
Research Overview
This Frost & Sullivan research service titled Strategic Analysis of the North American Class 4-8 Truck Ride Handling Systems OE Market provides unit shipment and revenue forecasts for brake systems and steering systems as well as market drivers and restraints, industry challenges, and market share analyses. In this research, Frost & Sullivan's expert analysts thoroughly examine the following: disc and drum braking systems, hydraulic and pneumatic braking systems, electronic steering systems, mechanical steering systems, and hydraulic/electrohydraulic steering systems.
This analysis is available through the Automotive & Transportation Growth Partnership Services program. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services program ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Technology Drives Growth in the North American Class 4-8 Truck Ride Handling Systems OE Market
The ongoing economic recession and new regulations affecting truck exhaust systems have hugely impacted the dynamics of the North American Class 4-8 truck ride handling systems original equipment (OE) market. These two factors have combined to drastically reduce vehicle production between 2007 and 2008, and the trend is expected to remain in place through 2010. Truck production will rebound by the end of 2015 and enhance revenue growth for braking and steering systems. Technological advancements in new ride-handling systems, including x-by-wire and integrated chassis control systems, will also uplift market prospects. 'Truck manufacturers are striving to reduce vehicle weight and are looking for ride-handling systems that meet all safety and comfort standards while optimizing fuel economy,' notes the analyst of this research service. 'Reduced weight translates directly to improved fuel efficiency, which is an important purchase consideration of truck owners.' The goal of suppliers is to provide the best combination of technology, weight reduction, and price that is appealing to truck buyers and manufacturers.
Growth in the ride-handling systems market will be driven by a sharp upturn in truck production from 2009 to 2015. New stopping-distance regulations will require some vehicles to be equipped with more robust brake systems. Meanwhile, truck manufacturers are moving away from mechanical steering systems in favor of electronic and hydraulic/electro hydraulic steering systems. Due to the economic predicament, truck sales have plummeted over the past two years, and large companies have deferred purchases. The sharp reduction in the demand for ride-handling systems has forced suppliers to devise ways to cut costs and open new markets.
There is a rising threat from Chinese and Indian companies targeting the North American light- and medium- duty truck market and as domestic truck makers ink supply contracts with Asian suppliers to reduce manufacturing and sourcing costs. Global sourcing and market penetration are emerging as necessary strategies for survival and growth in the ride-handling systems market. Truck manufacturers and suppliers should look overseas for opportunities to reduce their costs and open new markets for their products in fast-growing economies. 'The market leaders have already entered joint ventures with offshore suppliers,' notes the analyst. 'The importance of these relationships will increase once the truck market recovers; companies that go it alone without a foreign partner will be left behind.' Modularization and the ability to interface with safety and stability enhancement electronic technologies offer value chain ascension and margin growth opportunities to suppliers. Components, metallurgy, manufacturing, supply chain, and electronics are key success factors for suppliers to develop ride-handling systems that deliver long-term sustainable revenues and market share growth opportunities.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Disc braking systems
- Drum braking systems
- Hydraulic braking systems
- Pneumatic braking systems
- Electronic steering systems
- Mechanical steering systems
- Hydraulic/electrohydraulic steering systems
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