Air Brake System Market - Trends Forecast Till 2028

Market Overview

The global air brake system market was valued at USD 4.81 billion in 2018, and is projected to reach USD 6.6 billion by 2026, registering a CAGR of 4.4% during the forecast period 2021-2028.

The air brake system is a kind of braking mechanism used in huge bulky vehicles. An air brake or a compressed air brake system is a type of friction brake designed for vehicles in which the compressed air is applied on a piston, which further applies pressure to the brake pads, which results in causing the vehicle to stop. It is used in large and heavy vehicles, having multiple trailers and they must be connected to air brake system, such as trucks, trailers, buses and railroad trains.

Growth and expansion in business vehicles and off-highway trucks and the increased production of rail routes and fast trains are some of the factors that have supported long-term expansion for Air Brake System Market.

The air brake System Market incorporates a deep analysis of the impact of COVID-19 lockdown on the income of market pioneers and followers. Since the lockdown was carried out contrastingly in different locales and nations, the effect of the same situation is likewise seen distinctively by districts and segments.

Regional Analysis

Asia Pacific is expected to be the largest market of air brake system during the forecast period. It is owing to their largest heavy commercial vehicle production compared to other regions. China is the leading air brake system owing to the higher production of heavy-duty trucks across all heavy trucks type. Rapid growth in industrialization and urbanization in developing countries such as China and India along with rising awareness for vehicle ad driver safety would fuel the demand for the Asia Oceania air brake system market.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Knorr-Bremse
• Wabco
• Meritor
• Haldex
• ZF
• Wabtec
• Nabtesco

Recent Developments

• In August 2018, Knorr-Bremse introduced 2 new disc brakes, ‘SYNACT and NEXTT”, for future generations of heavy-duty commercial vehicles. Compared to its predecessor, SYNACT attains new dimensions of performance and weight. With a stronger but lighter caliper and smooth-running internal mechanics, the full braking torque of 30 kNm remains available even during prolonged braking maneuvers.
• In September 2018, Wabco established a new joint venture for vehicle control systems with FAW Jiefang Automotive Company to advance the safety and efficiency of commercial vehicles in the Chinese market. Under this joint venture, the companies will start the production of Wabco’s advanced MAXXTM single-piston Air Disc Brake (ADB) from 2019.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Air Brake System Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope