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Air Brake System Market | Trends, Share, Growth Rate, Opportunities and Market Forecast 2018-2026
Air Brake System Market
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North America held the highest air brake system market share in 2018, contributing to more than two-fifths of the total market share, and is estimated to maintain its leadership status throughout the forecast period.
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Rise in production of commercial vehicles & off-highway trucks along with increase in number of high-speed trains & railways fuel the growth of the global air brake system market. However, more expensive nature of air brakes in comparison to hydraulic brakes and increase in focus on electric buses & trucks restrain the market growth. On the other hand, stringent regulations regarding load carrying capacity and other policies on air brakes installation present new opportunities in the industry.
Based on type, the air drum brake segment accounted for more than four-fifths of the total market share in 2018, and is expected to contribute its lead position throughout the forecast period. This is attributed to surge in usage of safety components and rise in production of vehicles across the globe. Moreover, the air disc brake segment is estimated to register the highest CAGR of 5.4% from 2019 to 2026.
Based on vehicle type, the rolling stock segment held the largest market share in the global air brake system market, contributing to more than two-fifths of the total share in 2018, and will continue to dominate in terms of revenue during the forecast period. This is due to advent of automation in railways worldwide. However, the truck segment is estimated to register the fastest CAGR of 5.3% during the forecast period, owing to rise in manufacturing and sales of the vehicle across the world.
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On the basis of region, North America held the highest market share in 2018, contributing to more than two-fifths of the total market share, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to adoption of advanced technologies along with continuous development in air brake systems. On the other hand, Asia-Pacific would witness the highest CAGR of 5.4% from 2019 to 2026.
Leading market players analyzed in the air brake system market research include Blackberry Limited, Broadcom Inc., Citrix Systems, Inc., Microsoft Corporation, IBM Corporation, Samsung Electronics, Oracle Corporation, Toshiba Corporation, Cellrox Ltd., and VMware, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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