Global Air Brake Systems Market to reach USD 5.84 billion by 2026 : Wabco, Meritor, Haldex, ZF, Wabtec

The Global Air Brake Systems Market report is an inclusive study of the market, which provides sufficient knowledge to the clients for efficient decision-making with the aim of expanding business considerably in the market. With the help of statistical graphs, figures, flow charts, and real examples, the report represents the analytical data in an efficient way, which would be easily understandable for the readers even by going through the report. The global Air Brake Systems Market report also delivers the precisely estimated pattern of CAGR to be followed by the market in the future.

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Air Brake Systems use compressed air to make the brakeswork. Air brakes are a excellent and safe way of stopping large and heavy vehicles, but the brakes must be well preserved and used properly. Air brakes are really three different braking systems: service brake, parking brake, and emergency brake.

Global Air brake systems market is valued approximately USD 4.5 billion in 2018 and is anticipated to grow with a growth rate of more than 3.31% over the forecast period 2019-2026. The air brake systems are one of the high-power braking systems that is commonly used in heavy vehicles such as buses, trucks etc. It is a power system that enables braking force that helps in creating force to the braking pads and generates a friction forces between brake and tire which tends to stop the vehicles. Air brake systems use air to generate the force and consist of compressor, air filter, reservoir, valve and brake pads. Increase in sale & production of commercial vehicles and off- highway trucks, fail-safe nature of air brakes over hydraulic brakes and increasing railways and high-speed trains are the factors driving the growth of market over the forecast years. However, costly air brakes over hydraulic brakes and increasing focus toward electric bus and trucks are the factors hampering the growth of market over the forecast years. Whereas, regulations related to load carrying capacity and mandates on air brake installation is a lucrative opportunity for the growth of market over the upcoming years. Hence, the rise in construction industry across the globe fuels the growth of market in future. According to the United Nations Department of Economic and Social Affairs in 2018, it is estimated that 55% of the total world's population lives in urban area and it expected to rise to 68% by 2050.The rising urbanization across the globe supports the rise in construction industry as it is projected that the most urbanized region includes North America, Latin America and the Caribbean, Europe and Oceanic. The level of urbanization in Asia is approximately 50% of the total population. On the contrary, Africa remains more rural, with nearly 43% of the total population living in urban areas. Hence, the rising urbanization is gaining popularity in the construction sector thereby, surge the market growth.

The regional analysis of global Air brake systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia pacific is the fastest growing region for the air brake system market over the forecast years owing to the largest heavy commercial vehicle production compare to another region. Also, the rising urbanization and industrialization in the developing economies such as India and China coupled with rising awareness for the vehicle and driver safety propel the growth of market over the upcoming years. Additionally, China is the leading economy in the air brake system market owing to the higher production of heavy duty trucks.

Market player included in this report are:
Wabco
Meritor
Haldex
ZF
Wabtec
Nabtesco
TSE brakes
Sealco
Tata Autocomp

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Brake Type:
Air drum brake
Air disc brake

By Vehicle Type:
Rigid body truck
Heavy duty truck
Semi-trailer
Bus

By Regions:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026

Target Audience of the Global Air Brake Systems Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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In the end, Air Brake Systems Market Report delivers a conclusion which includes Breakdown and Data Triangulation, Consumer Needs/Customer Preference Change, Research Findings, Market Size Estimation, Data Source. These factors will increase the business overall.

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