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Pneumatic Brake Segment to Lead Railway Braking System Market during 2020–2027

NEW YORK, UNITED STATES, March 15, 2023 /EINPresswire.com/ -- According to the new research report, titled “Railway Braking System Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type (Pneumatic Brake, Electrodynamic Brake, Mechanical Brake, and Electromagnetic Brake) and Train Type (Metros, Monorail, High-speed Train, Light Rail/Trams, and Freight Train),” published by The Insight Partners, the market is expected to reach US$ 10,515.7 million by 2027, registering a CAGR of 3.7% during 2020–2027.  

Report Coverage - Railway Braking System Market
Report Coverage Details
Market Size Value in US$ 8,909.9 Million in 2019
Market Size Value by US$ 10,515.7 Million by 2027
Growth rate CAGR of 3.7% from 2020-2027
Forecast Period 2020-2027
Base Year 2020
No. of Pages 154
No. of Tables 56
No. of Charts & Figures 74
Historical data available Yes
Segments covered Type and Train Type
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Railway Braking System Market in APAC to Grow at Highest CAGR    

The regional connectivity of the railway network in Southeast Asian countries is becoming better due to the implementation of a number of projects to connect existing routes under the Pan Asia railway network. Indonesia and the Philippines have also planned rail projects to connect key cities with their major islands. Thailand is looking ahead to make an investment of US$ 74.5 billion, which includes constructing a high-speed link between Chiang Mai and Bangkok. Japan is testing the newest version of the bullet train—the ALFA-X Shinkansen. This train can reach a speed of around 225 miles/hour. It has also been stated that the East Japan Railway Company is working on the development of ALFA-X.

It has decided for two different auxiliary braking systems, which were never used on the railroads of Japan. The developers of ALFA-X are using aerodynamic brakes that work on the principle of air resistance and “maglev-type decelerators,” which use electromagnets. However, the ongoing COVID-19 outbreak is anticipated to affect the growth rate of railway braking system market in the year 2020 and early 2021 owing to disruptions in supply chains, decrease in demand and production, and negative impact on economic as well as industrial growth of major countries in the region. Hence, there is a decline in y-o-y growth during the year 2020 and 2021. However, the growth is expected to normalize from 2021 onward and the market is projected to grow at a steady pace from 2021 to 2027.

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Key Findings of Study:

In the era of constant technological developments, the railway sector worldwide is experiencing new technologies and systems that is playing a crucial role in transforming the entire sector. For instance, in September 2019, ALSTOM granted a contract to Knorr-Bremse for providing faster-reacting design of heating, ventilation, and air-conditioning and braking system for next-generation high-speed trains for French National Railways. In addition, Knorr-Bremse said that Avelia Horizon is a first French high-speed train equipped with a direct braking system where all commands of brake are conveyed electrically through vehicle bus. Also, advent of next-generation air disk brakes is making its path for transforming rails. In addition, in direct braking system, the brake commands are transmitted quickly with shorter time lag.

The overall railway braking system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the railway braking system market with respect to all the segments. It also provides the overview and forecast for the global railway braking system market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the railway braking system market.

Railway Braking System Market: Competitive Landscape and Key Developments

Major players operating in the global railway braking system market include ABB Ltd.; akebono brake industry Co., Ltd.; Alstom SA; Amsted Rail; DAKO-CZ, A.S; Frenoplast; Knorr-Bremse AG; NABTESCO CORPORATION; SABRE RAIL SERVICES LTD.; and Wabtec Corporation.

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