Press release
Air Brake System Market Poised to Hit $7.23 Billion by 2029 with Accelerating Growth Trends
Air Brake System
Air Brake System Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size for the air brake system has seen significant expansion. The market is set to increase from a value of $5.38 billion in 2024 to $5.71 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.2%. The historical growth can be credited to factors such as the expansion of railways, the necessity for dependable and effective braking systems within the industry, the growing automobile sector, continuous enhancements to air brake technology, rising urbanization, and the associated growth of public transport systems.
How Will the Air Brake System Market Size Evolve and Grow by 2029?
The market for air brake systems is projected to experience robust expansion in the coming years. It is anticipated to increase to a valuation of $7.23 billion in 2029, with a compound annual growth rate (CAGR) of 6.1%. The surge in this projection can be tied to a rising interest in hybrid and electric buses, an increase in the uptake of heavy-duty vehicles, higher levels of public knowledge about vehicle safety, increased funding in transportation infrastructures and a growing requirement for commercial vehicles. The predictive trends within this duration include the incorporation with advanced driver assistance systems (ADAS), the emergence of electric air brake systems, automated production processes, geographical enlargement, and modular air brake system development.
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What Drivers Are Propelling the Growth of Air Brake System Market Forward?
The growth of the air brake system market is predicted to be driven by the escalating demand for commercial vehicles. These are motor vehicles that are typically larger and sturdier than personal cars and are utilized for the transportation of goods or passengers in exchange for remuneration, compensation, or profits. The demand for such vehicles is attributed to the development of infrastructure and the growth of the logistics and transportation sectors, both of which require effective transport solutions. Air brake systems in these commercial vehicles provide trustworthy braking power, enhanced control and ensure safety and efficiency. As an example, data from the France-based trade association, the International Organization of Automobile Manufacturers, indicated that the global production of light commercial vehicles saw an increase from 19.71 million units in 2022 to 21.44 million units in 2023. Thus, the growing demand for commercial vehicles is fuelling the expansion of the air brake system market.
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Which Emerging Trends Are Transforming the Air Brake System Market in 2025?
Top players in the air brake system market are concentrating their efforts on creating innovative technologies, including electronic trailer braking systems, to improve safety, operation, and efficiency in commercial vehicles. Enhanced braking control and security are the result of the use of electronic trailer braking systems (ETBS) which uses electronic parts combined with conventional pneumatic air brake systems. For example, in December 2023, Germany's Knorr-Bremse AG, a leading producer of braking systems for rail and commercial vehicles, introduced a state-of-the-art electronic trailer braking system, iTEBS X, tailored to meet the changing needs of the commercial vehicle sector. The novel iTEBS X consolidates the electronic control unit, sensor technology, and pneumatic brake control into one sleek assembly, offering trailer manufacturers a cost-effective and modular design. The latest system preserves efficient pneumatic coupling design and tractor and trailer brake control function synchronization like previous versions, plus introduces new features such as an integrated lift axle valve.
What Are the Key Segments in the Air Brake System Market?
The air brake system market covered in this report is segmented -
1) By Type: Air Disc Brake, Air Drum Brake
2) By Component: Compressor, Governor, Tank, Air Dryer, ??Foot Valve, Brake Chamber, Slack Adjuster, Other Components
3) By Vehicle: Rigid Body Trucks, ?Heavy Duty Trucks, ??Semi-Trailer Tractor, Bus
4) By Application: On-Road, Off-Road Vehicle, Rolling Stock, Locomotive Electro-Pneumatic(EP), Electronically Controlled Pneumatic(ECP), Other Applications
Subsegments:
1) By Air Disc Brake: Single-Piston Air Disc Brakes, Multi-Piston Air Disc Brakes, Heavy-Duty Air Disc Brakes, Lightweight Air Disc Brakes
2) By Air Drum Brake: Full Air Drum Brakes, Single Air Drum Brakes, Twin Air Drum Brakes, Heavy-Duty Air Drum Brakes
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Who Are the Key Players Shaping the Air Brake System Market's Competitive Landscape?
Major companies operating in the air brake system market are ZF Friedrichshafen AG, Eaton Corporation, Wabtec Corporation, Knorr-Bremse AG, Mando Corporation, Meritor Inc., Nabtesco Automotive Corporation, SAF-Holland Inc., Brakes India Pvt. Ltd., SORL Auto Parts Inc., Jost World, Haldex AB, Zhejiang VIE Science & Technology Co. Ltd., ProVia LLC, Wabco India Ltd., Federal-Mogul Goetze (India) Ltd., TMD Friction Holdings GmbH, Dayton Parts Inc., Webb Wheel Products Inc., MGM Brake, Carlisle Industrial Brake & Friction Inc., TSE Brakes Inc., VELVAC Inc., Aventics, FUWA K-Hitch
What Geographic Markets Are Powering Growth in the Air Brake System Market?
Asia-Pacific was the largest region in the air brake system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the air brake system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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