Vehicle Retarder Market By Product Type (Product Type, Hydraulic Retarder) , By Application (18 to 55 MT, 55 to 100 MT, More than 100 MT) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The vehicle retarder market was valued at $2.21 billion in 2022 and is estimated to reach $4.52 billion by 2032, exhibiting a CAGR of 7.6% from 2023 to 2032.
Vehicle retarder is a supplementary braking system employed in heavy-duty vehicles such as trucks, buses, or commercial cars to either substitute or augment conventional brakes. The fundamental purpose of these systems is to reduce the speed of vehicles by dispersing their kinetic energy. Consequently, this improves the safety, flexibility, and steadiness of the automobile, particularly when driving downhill or on complicated roads.
The growth of the global vehicle retarder market is driven by rise in use of advanced braking systems for better efficiency & control. The adoption of cutting-edge vehicle retarders such as Scania's Retarder is gaining prominence among the leading companies of the market. This retarder equips the vehicles with cutting-edge ADR safety features, including the electronic braking system, anti-lock braking system, and a retarder, ensuring the utmost level of safety during the transportation of flammable liquids.
However, high initial cost of retarder systems and need for compatibility with existing vehicle systems and components hinder the expansion of this market. Contrarily, the retarder control unit, a recently developed integrated retarder system, presents a significant opportunity for market growth. By integrating the electronic control unit directly into the retarder, the retarder control unit enhances vehicle systems, saving space, efficiency. Moreover, its advanced monitoring capabilities promptly address any detected faults, ensuring safety and extending the service life of the system. This innovation supports the rising trend of leveraging technological advancements to encourage the adoption of retarder systems, particularly in electric and hybrid vehicles. These systems enable regenerative braking, thereby contributing to the market's expansion.
Segmentation OverviewThe global vehicle retarder market is segmented into product type, application, and region. By product type, the market is categorized into electrical retarders and hydraulic retarders. In terms of application, it is divided into 18-55 MT, 55-100 MT, and >100 MT. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key FindingsBy product type, the hydraulic retarders segment accounted for the largest share in the market in 2022.
According to the application, the 18-55 MT segment gained the highest market share in 2022.
Region wise, Asia-Pacific dominated the market in 2022.
Competitive AnalysisThe major players operating in the vehicle retarder market include Frenelsa S.A., Voith GmbH & Co. KGaA, ZF Friedrichshafen AG, Scania AB, Telma S.A., Jacobs Vehicle Systems, Inc., Klam Retarder Inc., TBK Co., Ltd., Shaanxi Fast Auto Drive Group Company Limited, and SORL Auto Parts, Inc. These prominent participants have implemented diverse strategies for growth, including business expansion, introduction of new products, and formation of partnerships to enhance their position in the fiercely competitive market.
Key Market SegmentsBy Product TypeProduct Type
Hydraulic Retarder
By Application18 to 55 MT
55 to 100 MT
More than 100 MT
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East and Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East and Africa
Key Market Players
Frenelsa S.A.
Voith GmbH & Co. KGaA
ZF Friedrichshafen AG
Scania AB.
Jacobs Vehicle Systems, Inc.
Klam Retarder Inc.
TBK Co., Ltd.
Shaanxi Fast Auto Drive Group Company Limited
SORL Auto Parts, Inc.