Air Brake System Market Supply-Demand, Investment Feasibility and Forecast 2032

The Air Brake System Market Size Is Projected To Reach $6.6 Billion, Enlisting a CAGR Of 3.57% By 2030

A sort of friction brake called an air brake, also known as a compressed air brake system, is made for use on automobiles. The compressed air is applied to a piston, which then exerts pressure on the brake pads, bringing the car to a stop. In addition to their use in railroad trains, air brakes are utilised in large, heavy vehicles, particularly those with many trailers that need to be connected to the brake system, such as trucks, buses, trailers, and semi-trailers. Air brakes were first created by George Westinghouse for use on trains. Buses and large lorries are frequently equipped with air brake systems. The air brake system has a wider range of parts, including a control pedal, an air compressor, and service brakes and parking brakes.

The major drivers fueling the Air Brake System Market during the forecast period are increasing sales & production of off-highway trucks and commercial vehicles and the protective nature of air brakes over hydraulic brakes. As per Statista, in 2023, 2,63,65,470 units of commercial vehicles were sold, and this figure is predicted to rise at an annual growth rate of around 5%. Metro Rail Projects across various developing nations offer a lucrative opportunity for the market. Moreover, with technological advancement and the introduction of automation in the railway industry, the demand for better and advanced safety components has risen.

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One of the key factors fueling the market expansion for air brake systems is the world's rising urbanisation. The increase in the production and sales of commercial and off-road trucks, as well as the integration of the system to apply more forceful braking in heavy and commercial vehicles, all contribute to the market's rapid expansion. The market is also influenced by expanded railroads and high-speed trains, as well as the use of air brake systems in parking brakes and service brakes. Additionally, the market for air braking systems is positively impacted by the growing vehicle fleet, the growth in passenger safety concerns, and the expansion of the automotive industry. In addition, laws governing load bearing capacity and requirements for installing air brakes give market participants more lucrative opportunities.

Major driving factors of the Air Brake System market are increasing the number of vehicles that has expanded essentially over the globe because of modernization and enhanced spending energy of individuals. This has prompted an expansion in the automotive emanation levels too. Increasing demand from passenger and commercial vehicles. Increasing major players for the development of cost-effective products is expected to create new opportunities.

In order to ensure safety and keep control of the vehicle, manufacturers create new and innovative components like braking systems, which are useful in high-speed trains and on the railways. Globally, governments have taken steps to improve and advance the railways, which has led to a growth in their number. As a result, the global air brake system market is expected to rise throughout the course of the projected period due to the growing number of railways and high-speed trains.

Global Air Brake System Market: Segmentations

Global Air Brake System Market: By Key Players
Knorr-Bremse
Wabco
Haldex
Nabtesco-Automotive
Sorl Auto Parts
Aventics (Emerson)
Tenneco (Federal-Mogul)
MGM Brakes
Sealco
TSE Brakes
Fritec

Global Air Brake System Market: By Types
Market Analysis and Insights: Global Air Brake System Market
Air Disc Brake
Air Drum Brake

Global Air Brake System Market: By Applications
Heavy Trucks and Trailers
Buses

Global Air Brake System Market: Regional Analysis
The countries covered in the regional analysis of the Global Air Brake System market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter's Five Force Model and SWOT analysis are used to study the global Air Brake System market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Air Brake System would help in identifying future applications in this market.

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Reasons to Buy This Report

1. This report will help stakeholders to understand the global industry status and trends of Air Brake System and provides them with information on key market drivers, restraints, challenges, and opportunities.
2. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
3. This report stays updated with novel technology integration, features, and the latest developments in the market
4. This report helps stakeholders to understand the COVID-19 and Russia-Ukraine War Influence on the Air Brake System industry.
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Air Brake System.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.

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