Air Brake Reservoirs Market Projected to be Resilient During 2018 to 2028 // by key player - Wabtec Corporation, Ice Industries, MAT Industries LLC, Velvac Inc., Tramec Sloan LLC, Frauenthal Automotive
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Air brake reservoir, also known as air storage tank, is a storage tank having single or more than double compartments that are primarily used for storage of compressed air. The function of the air brake reservoirs is to provide a compressed air for braking, which will be sufficient in relation to the volume used by the air brake chambers and auxiliary parts. Moreover, air brake reservoirs provide a space in which the heated air (by compression) may be cooled.
Importantly, air brake reservoirs are predominantly used in railway applications. Thus, manufacturing of locomotives and rail transport play a crucial role in the growth of the global air brake reservoirs market. For the next few years, experts project a continued stable growth for the global air brake reservoirs market on the back of continued growth in the rail market.
Various standards are prevalent in the market to encourage the uniform product types across the value chain including the Association of American Railroads (AAR) standards and European Standards (ENs). Analysts predict that urban transport will demonstrate a high growth rate in the coming years. Development of existing and introduction of new technology platforms reinforce the global outlook for the air brake reservoirs market by provoking the demand for air brake reservoirs. Additionally, secular trends, such as urbanization, focus on safety, and awareness of environmental issues are driving investment in the global air brake reservoirs market.
The ongoing efforts to achieve the targets set at the UN climate conference will further enhance the role of railways in the foreseeable future. New-fangled technologies such as driverless trains are bringing extra safety, reliability, and capacity to the railways, aiding to make rail travel even more attractive and competitive with other transport modes. The increasing market adoption of air disc brakes for commercial vehicles translates into production growth for air brake reservoirs. Delays in rail project construction in some countries impede the demand for air brake reservoirs; however, offset by a positive outlook for the automotive industry in developing regions.
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In terms of value, SEAP and China will continue to spearhead the global air brake reservoirs market, followed by Western Europe. Further, in the coming years, a study suggests that Europeis expected to remain at the top in the growth stakes, just edging ahead of Middle East & Africa. In terms of growth, Russian and Rest of Eastern Europe are set to plunge due to well-developed and mature nature of the rail market. The Indian and other developing countries’ railway network has been growing significantly. Investments and developments in India’s railway sector proliferate new opportunities for the rail component manufacturers. In China, the railway maintenance market is to see substantial growth in the next years. In a nutshell, public policies are bolstering the air brake reservoirs market. North America has a robust manufacturing infrastructure for heavy commercial vehicles. In the coming few years, the growth of the air brake reservoirs market will be mainly driven due to an increase in the production of commercial vehicles, such as trailers.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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