Air Brake System Market Size , Share, Overview, forecast and Trend
The global air brakes system market size was USD 5.09 Billion in 2021 and is expected to register a revenue CAGR of 4.2% over the forecast period, according to the latest analysis by Emergen Research. Growing demand for heavy trucks and commercial vehicles and rising demand for air brakes in the railway sector are factors expected to drive the market revenue growth. Rapid industrialization and urbanization in countries across various regions have led to the surge in demand for heavy trucks and commercial vehicles which use air brake systems extensively and rising demand for air brakes in the railway sector. Additionally, rapid economic development has led to the rising demand for freight trains globally. The railroad system is excellent for moving bulk goods over long distances and is an economical and energy-efficient means of transportation.
The report offers insightful information about the market dynamics of the air brakes system market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the air brakes system market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the air brakes system market.
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Some Key Highlights from the Report
The air drum brake segment is expected to register the highest revenue share over the forecast period. Drum braking systems are widely used because of their simplistic design and low manufacturing cost. In addition, compared to air disc brakes, air drum brakes are more inexpensive, simpler to manufacture, and require less maintenance.
The compressor segment is expected to grow at a rapid revenue growth rate over the forecast period. Modern compressed air brakes are designed to keep working automatically even if a leak or other problem causes a train to lose some of its compressed air supply. A second emergency reservoir is present in the majority of systems, allowing for quick application in emergencies.
The rolling stock segment accounted for the highest revenue share in 2021. The majority of trains in the world have braking systems that drive brake blocks into wheels or brake pads onto discs using compressed air. Rising demand for rail transportation of goods as well as for railways as an inexpensive mode of transportation can drive the revenue growth of the market.
The North American market is expected to account for the largest revenue share during the forecast period. The increase in manufacturing of heavy trucks and commercial vehicles in the countries of this region and rising reliance on trucks and commercial vehicles from inland trade is driving market revenue growth.
Major Players/Manufacturers profiled in the report are:
Knorr-Bremse AG, ZF Friedrichshafen AG, Meritor, Inc., Haldex, Wabtec Corporation, Nabtesco Automotive Corporation, Brake Systems Inc., Tenneco Inc., SORL Auto Parts, Inc., and Grindlays Engine Parts Pvt. Ltd.
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Emergen Research has segmented the global Air Brakes System based on type, component, vehicle type, and region:
Type Outlook (Revenue, USD Billion, 2019–2030)
Air Disc Brake
Air Drum Brake
Component Outlook (Revenue, USD Billion, 2019–2030)
Compressor
Governor
Tank
Air Dryer
Foot Valve
Brake Chamber
Slack Adjuster
Others
Vehicle Type Outlook (Revenue, USD Billion, 2019–2030)
Trucks
Bus
Rolling Stock
Regional Analysis:
The report sheds light on the region expected to dominate the Air Brake System market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Air Brake System market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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Radical Highlights of the air brakes system Market Report:
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the air brakes system market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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