Air Brake System Market Expeditious Growth Expected in Coming Years | To reach $6.6 billion

Surge in sales & production of commercial vehicles & off-highway trucks and surge in number of railways & high-speed trains drive the growth of the global air brake system market. However, higher cost of air brakes as compared to hydraulic brakes and rise in focus on electric trucks & buses hinder the market growth. On the other hand, regulations related to load carrying capacity and mandates on air brakes installation create new opportunities in the market.

According to the report, the global air brake system industry generated $4.81 billion in 2018, and is expected to reach $6.59 billion by 2026, registering a CAGR of 4.4% from 2019 to 2026.

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An air brake, or compressed air brake system, is a friction brake used in vehicles where compressed air applies pressure to a piston, activating the brake pads to stop the vehicle. Commonly found in railroad trains, air brakes are also essential for heavy vehicles like trucks, buses, trailers, and semi-trailers, especially those with multiple trailers requiring a linked brake system. Invented by George Westinghouse for railways, air brakes are widely used in heavy trucks and buses, serving roles such as service brakes and parking brakes, with components like control pedals, air storage tanks, and more.

Key components of air brake systems include compressors, governors, tanks, air dryers, foot valves, brake chambers, and slack adjusters. The market features two main types: disc air brake systems and drum air brake systems. These systems, vital for heavy and commercial vehicles, enable greater braking force and are easily integrated into vehicle chassis via interconnected pipes. Additionally, compressed air from these systems powers other accessories like tire inflation systems, windscreen wipers, and horns.

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Air brakes offer superior power compared to mechanical or hydraulic brakes, making them indispensable for heavy-duty applications. Air disc brakes utilize calipers to press pads against a rotor, slowing or stopping the vehicle by reducing axle rotation. Conversely, air drum brakes create friction through shoes pressing against a rotating brake drum's inner surface to slow down or halt the vehicle.

The air brake system market benefits from growing commercial vehicle and off-highway truck production, as well as increased railway and high-speed train manufacturing. However, challenges such as the higher cost of air brakes versus hydraulic brakes and a shift towards electric trucks and buses may limit growth. Nonetheless, regulations on load capacity and air brake installation mandates present significant opportunities for market expansion.

Based on type, the air drum brake segment held more than four-fifths of the total share of the global air brake system market in 2018, and is estimated to maintain its leadership status during the forecast period. This is due to wide usage of safety components and increased production & sales of vehicles across the globe. Moreover, the air disc brake segment is expected to grow at the fastest CAGR of 5.4% from 2019 to 2026, owing to the trend of automation and technological advancements.

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Based on vehicle type, the rolling stock segment contributed the highest market share in the global air brake system market, accounting for more than two-fifths of the market share in 2018, and is expected to maintain its dominant position during the forecast period. This is attributed to the introduction of automation in railways across the globe. However, the truck segment is expected to grow at the highest CAGR of 5.3% from 2019 to 2026. This is due to increased production and sales of the vehicle across the globe.

Based on region, North America contributed to the largest market share, accounting for more than two-fifths of the global air brake system market in 2018, and is expected to maintain its highest contribution in terms of revenue during the forecast period. This is due to adoption of advanced technology along with the constant development in air brake systems. However, Asia-Pacific is expected to maintain the fastest CAGR of 5.4% from 2019 to 2026, owing to wide applications of air brakes in vehicles with increased transportation having an efficient safety and security system.

The key players analyzed in this report are Knorr-Bremse, Wabco, Meritor, Haldex, ZF Friedrichshafen AG, Wabtec, Nabtesco, TSE Brakes, Federal-Mogul and Sorl Auto Parts.

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