Air Brake System Market Size, Share, And Segmentation By Type, By Component, By Vehicle Type, By Regions And Global Market Forecast 2023-2030

AUSTIN, TEXAS, UNITED STATES, February 20, 2024 /EINPresswire.com/ -- The SNS Insider report indicates that the Air Brake System Market was valued at USD 5.39 billion in 2022, and it is projected to achieve a market size of USD 7.27 billion by 2030, with a compound annual growth rate (CAGR) of 3.8% expected over the forecast period from 2023 to 2030.

The integration of air brake systems into heavy and commercial vehicles, which require extensive braking efforts, boosts market growth. These systems provide fail-proof mechanisms, ensuring safer operation of these vehicles, which is crucial for industries like logistics, construction, and transportation.

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Market Report Scope –

Air brake systems market growth is rapidly growing urbanization throughout the world. Market growth is accelerated by the increase in sales and production of commercial vehicles and off-road trucks, as well as by the integration of the system into heavy and commercial vehicles with more extensive braking efforts. The use of air brakes in a wider range of applications, including parking brake systems, service braking and increased railways and high-speed trains also have an impact on this. The air brake system market relies heavily on producing and selling heavy commercial vehicles and off-highway trucks, as they use air brakes for their fail-proof mechanism. Due to population growth, urbanization and an increase in infrastructure spending around the world, commercial vehicle production has been on a significant rise over recent years. Demand for heavy trucks and buses is also increasing, owing to the growth of ecommerce as well as recovery in travel and tourism, particularly after 2020-21.

Market Growth Factors –

A kind of braking system that's used in large heavy vehicles is the air brakes. The type of friction brake, which uses the compressed air to apply pressure on the piston and also applies pressure at the disc brakes resulting in a vehicle stopping, shall be an air brake or compressed air braking system. Air brakes are used in heavy vehicles, especially for trucks, trailers, buses, and their use in trains and trailers with more than one axle that must be hooked up to the air braking system. The option of using an air brake system for a water braking mechanism that is used to stop lighter vehicles is also available. It is important to point out that this system has been well planned with a sufficient level of protection, which can stop the car safely even when it spills heavily. It is not difficult to introduce this type of braking system into the undercarriage and trailer as they are connected by pipelines.

Key Players –

Akebono Brake Industry Co. Ltd., Continental AG, Nissin Kogyo Co. Ltd., Brembo S.P.A., Mando Corporation, Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), SORL Auto Parts, Inc., Aisin Seiki Co. Ltd., Federal-Mogul Holdings Corporation3, Airmaster Brake Systems, Brakes India Limited, YUMAK Air Brake Systems, Haldex (Sweden), ZF (Germany), Wabtec (US), and Nabtesco are the major key players in the air brake system market.

Segmentation Analysis –

T.C.S., Traction Control System E.S.C., EBD. Electronic Stability Control, Electronic Brake Force Distribution, and A.B.S. Antilock Braking System are market segmentations based on technology. In 2021, the segment of A.B.S. AntiLock braking systems is expected to have a dominant position on the market. The growing concern about road accidents caused by slippery surfaces and loss of control in vehicles. A.B.S. is a part of the antiskid braking system which makes it safer and more secure. The A.B.S. is a component of an antiskid braking system that improves the safety and driving experience of vehicles. The market is divided into heavy duty vehicles, rigid bodies, trailers and buses according to voltage. The largest share of the market is accounted for by the rigid body segment. This is because, owing to their large gross weight, commercial vehicles require an extra braking force and it will be dangerous for the driver to rely solely on a foot brake system.

By Type:

• Air Disc Brake
• Air Drum Brake

By Component:

• Compressor
• Governor
• Foot valve
• Air dryer
• Brake chamber
• Slack adjuster
• Tank
• Others

By Vehicle type:

• Trucks
• Bus
• Rolling Stock

Key Regional Development –

In 2022, the Asia Pacific market for air braking systems accounted for the largest share and is expected to grow at a compound annual growth rate of 5.81% during the forecast period. The region caters to the aftermarket production and also has the presence of major automotive players, which fuels the demand for OEM products. The dominant position of the Asia Pacific market is thus attributable to the presence of a large number of companies.

For instance, according to OICA, India experienced a 37.1% increase in the sales of commercial vehicles between 2021 and 2022. In 2022, North America accounted for a significant market share of the air brake system. Due to the high level of commercial vehicle adoption in North America, the market for trucks is heavily saturated. The growth of the North American market is thus driven by the high use of commercial vehicles in the region.

Key Takeaway’s–

One of the main factors that is driving the global air brake system market is rapidly increasing urbanisation all over the world. Market growth is accelerated by the increase in sales and production of commercial vehicles and off-road trucks, as well as by the integration of the system into heavy and commercial vehicles with more extensive braking efforts. Further influence is the use of air brakes in a wider range of applications such as parking brake, service braking and increased train speeds.

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Recent Developments -

In April 2023, Knorr-Bremse AG announced the launch of its commercial vehicle aftermarket brand Knorr-Bremse Truck Services in South America. At Automec 2023 in South America, a portfolio of dealers, workshops and fleet operators has been put forward.
Meritor, Inc. announced its collaboration with ConMet on March 22, 2022. This collaboration was focused on developing a purposebuilt trailer brake to work with ConMet's Preset Plus eHub. In order to allow the production of zero emissions refrigerated trailers, this innovative system has been proposed.
June 2023 Tevva, a manufacturer of electric cars in the United Kingdom, and ZF have worked together to develop regenerative braking systems. The regenerative braking system consists of an electronic brake system which is to be installed in the Tevva 7.5t batteryelectric car.

Table of Contents

1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 forces model

7. PEST Analysis

8. Global Air Brake System Market Segmentation, by type
8.1 Air Disc Brake
8.2 Air Drum Brake

9. Global Air Brake System Market Segmentation, by Component
9.1 Compressor
9.2 Governor
9.3 Foot valve
9.4 Air dryer
9.5 Brake chamber
9.6 Slack adjuster
9.7 Tank
9.8 Others

10. Global Air Brake System Market Segmentation, by Vehicle type
10.1 Trucks
10.2 Bus
10.3 Rolling Stock

11. Regional Analysis

Continued…!

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