Global Air Brake Systems Market by Type, Component, Rolling Stock, Vehicle Type and Region – Forecast to 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Air Brake System Market by Type (Disc, Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber, Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer, Bus) and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global air brake system market is set to expand from its 2023 value of USD 3.1 billion to USD 3.4 billion by 2028, achieving a commendable CAGR of 2.2% within this period. This progression is underpinned by the upsurge in stringent regulations governing automotive active safety, a surge in commercial vehicle production, and the integration of cutting-edge braking technologies into air brake systems, collectively stoking the demand. Pioneering manufacturers shaping the air brake system landscape encompass Knorr-Bremse AG, Meritor, Inc., Haldex, ZF Friedrichshafen AG, and Wabtec Corporation.
The study’s comprehensive segmentation unveils various facets, including component categorization encompassing compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slack adjuster; vehicle types spanning rigid body, heavy-duty trucks, semi-trailers, and buses; brake types consisting of disc and drum; and regional divisions across North America, Asia Oceania, Europe, and RoW. Further distinctions delve into the air brake system market for rolling stock, dissected by components like compressor, storage tank, driver’s brake valve, brake cylinder, and brake pipe, as well as construction and mining trucks, segmented by compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slack adjuster.
Air Disc brake is estimated to be the fastest growing air brake system type
The disc brake segment is estimated to grow fastest during the forecast period. The primary factor driving the demand for air disc brakes is the rising focus on safety and stopping distance reduction mandates. For instance, the National Highway Traffic Safety Administration (NHTSA) implemented stopping distance regulations to decrease the overall fatality rate for large trucks. There are stopping distance regulations for various vehicle configurations (three-axle, two-axle, and multi-axle) along with loaded and unloaded commercial vehicles. The regulation implemented in August 2013 stated that the stopping distance for unloaded three-axle trucks should be 235 feet, and for loaded three-axle trucks should be 310 feet.
Additionally, because of the increase in population, there is a high demand for intracity and intercity transfers at low cost, which is estimated to drive the air brake system market in railways and some high-speed trains. Further, most air brake manufacturers are focusing on developing advanced air disc brakes to increase the overall efficiency and performance of brake systems. For instance, in October 2019, Meritor, Inc. announced the launch of the lightweight, single-piston EX+T LS air disc brake. This advanced braking solution was designed for linehaul and trailer applications. The EX+ LS air disc brake was developed with reasonable taper wear control; the new air disc brake was designed and validated to the same taper wear criteria as a twin-piston brake. All these factors would spur the growth of air disc brakes in the future.
Premium Insights
- Increasing Commercial Vehicle Production and Growing Government Regulations on Braking Systems to Drive Market During Forecast Period
- Brake Chamber Segment to Hold Largest Market Share During Forecast Period
- Air Disc Brakes Segment to Drive Market During Forecast Period
- Semi-Trailer Segment to Witness Highest CAGR During Forecast Period
- Compressor Segment to Register Higher CAGR During Forecast Period
- Brake Cylinder Segment to Lead Market for Rolling Stock During Forecast Period
- Asia-Pacific to Possess Largest Market Share During Forecast Period
Market Dynamics
- Drivers
- Increasing Sales and Production of Commercial Trucks and Buses
- Stringent Automotive Active Safety Regulations and Integration of Anti-Lock Braking System (ABS) and Electronic Stability Control Braking System (ESC)
- Growing Demand for Off-Highway Heavy-Duty Trucks
- Increasing Development of Railway Network with Growing Number of High-Speed Trains
- Restraints
- High Cost of Air Brakes Over Hydraulic Brakes
- Increasing Focus on Electric Trucks and Buses
- Opportunities
- Regulations on Load-Carrying Capacity and Mandates on Air Brake Installation
- Challenges
- Freezing of Air Brakes at Low Temperature
Ecosystem Analysis
- Air Brake System Manufacturers
- Component Suppliers/Technology Providers
- Automotive OEMs
- Government and Regulatory Authorities
- Dealers and Distributors
- Service and Repair Centers
- Fleet Owners and Operators
Use Case Analysis
- Several Challenges for Knorr-Bremse AG in Developing Brake Systems
- New Air Brake System Developed by Arvin Meritor and TBS Solution
- Goizper Brake Clutch
Companies Profiled
- Key Players
- Knorr-Bremse AG
- Meritor, Inc.
- Haldex
- ZF Friedrichshafen AG
- Wabtec
- Nabtesco Corporation
- TSE Brakes Inc.
- Federal-Mogul Corporation
- Sorl Auto Parts, Inc.
- Brakes India
- Other Players
- Sealco Commercial Vehicle Products
- SilverbackHD
- Fort Garry Industries
- Metelli S.p.A.
- Mahle GmbH
- Aventics GmbH
- Knott Brake
- Kongsberg
- Tata Autocomp Systems
- Mei Brakes
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Analyst’s Recommendations
7 Air Brake System Market, by Component Type
8 Air Brake System Market, by Brake Type
9 Air Brake System Market, by Vehicle Type
10 Air Brake System Market for Construction and Mining Trucks, by Component Type
11 Air Brake System Market for Rolling Stock, by Component Type
12 Air Brake System Market, by Region
13 Competitive Landscape
14 Company Profiles
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/k554vk
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