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. In many countries, railroads are the preferred mode of transportation over cars and other vehicles.
Additionally, the report also gives an insight into product portfolios, costs, sales, production capacities, and market players. Raw materials, demand analysis, product flow, and distribution channels have been studied and surveyed extensively in this research report. The key growth trends and opportunities are offered through a thorough investigation and examination of the market. A detailed course of development is offered in the report along with insights into businesses connected with it, which include firms, industries, organizations, vendors, and local manufacturers.
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Some Key Highlights from the Report
- On 29 May 2020, ZF Friedrichshafen AG acquired Westinghouse Air Brake Company (WABCO). WABCO is integrated into ZF as its Commercial Vehicle Control Systems Division. The acquisition benefits customers by providing them with innovative advanced technology, and an extensive product portfolio.
- 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.
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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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Air Brake System market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Air Brake System market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Air Brake System Market
- Critical assessment of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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