Air Brake System Market Share, Future Growth, Lucrative Segments, and Forecast to 2030

Air Brake System Market size is projected at USD 7.27 Bn by 2030, Will the rising cost of air brake system surpass the demand and will create a bottleneck situation for commercial and passenger vehicles.

The demand for air brake systems is generated by demand from all over the world, including North America, Europe, Asia-Pacific, and Latin America. Global infrastructure development, industrial growth, and economic expansion all have an impact on the market. Trucks, buses, trailers, and heavy-duty vehicles are among the commercial vehicles where air brake systems are primarily used. The size of the market is directly correlated with the state of the commercial vehicle sector. 

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Market Scope:

Growing Safety Standards: As people's awareness of the importance of road safety has grown, sophisticated air brake systems with features like electronic stability control (ESC), collision avoidance systems, and anti-lock braking systems (ABS) have been adopted. The development of safety-related technologies for air brake systems is included in the market scope.

Opportunity Analysis:

The demand for advanced air brake systems is being driven by strict regulations pertaining to emissions and vehicle safety. Possibilities include developing systems that adhere to upcoming and current safety standards as well as environmental laws. The popularity of hybrid and electric vehicles is good news for producers of air brake systems. These cars might need special brake systems designed to accommodate the weight distribution, regenerative braking, and electric propulsion features. As the automobile industry grows, emerging markets may see an expansion of the air brake system market. Customizing goods to fit the unique requirements and tastes of these markets can be very profitable.

Prominent Players

Akebono Brake Industry Co. Ltd., Continental AG, Nissin Kogyo Co. Ltd., Brembo S.P.A., Mando Corporation, Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), SORL Auto Parts, Inc., Aisin Seiki Co. Ltd., Brakes India Limited, YUMAK Air Brake Systems, Haldex (Sweden), ZF (Germany), Knorr-Bremse AG, Federal-Mogul Holdings Corporation3, Airmaster Brake Systems, Wabtec (US), and Nabtesco are some of the prominent players in the air brake system market.

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Segmentation Analysis:

Air disc brakes are the most common type of air brake system, as they offer superior stopping power and fade resistance compared to air drum brakes. They are typically used in heavy-duty vehicles such as trucks and buses. Air drum brakes are a more traditional type of air brake system that is still used in some lighter-duty vehicles and trailers. They are less expensive than air disc brakes but offer lower stopping power and fade resistance. By Vehicle Type segment sis divided into passenger vehicle and commercial, among that passenger vehicle will be dominating the market.

Regional Analysis

The greatest market for air brake systems is in the Asia Pacific area, where rising auto production and quick economic growth have created a demand for these systems. The biggest markets in the Asia-Pacific area are those in China, India, and Japan. In terms of air brake systems, Europe is the third-largest market. Europe's largest market is Germany, which is followed by France and the UK. 

Key Takeaways  

The demand for air brake systems is expected to grow in the coming years, driven by factors such as increasing vehicle production, rising urbanization, and stricter safety regulations.
The market is witnessing a shift towards EABS due to their superior performance and efficiency compared to traditional pneumatic air brake systems.
Emerging markets like India and Brazil present substantial opportunities for manufacturers of air brake systems, as these regions witness rapid growth in both vehicle production and infrastructure development.

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Recent Industry Developments:

In March 2021, ZF Friedrichshafen AG introduced its MAXXUS L2 air disc brake system for light commercial vehicles. This new system is designed to provide superior braking performance and reduce weight compared to traditional air drum brakes.

Knorr-Bremse AG announced the launch of its commercial vehicle aftermarket brand Knorr-Bremse Truck Services in South America. This new brand will provide a comprehensive range of aftermarket services for commercial vehicles, including air brake system repair and maintenance.

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