PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339915
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339915
Air Brake System Market Forecasts to 2030 - Global Analysis By Component Type (Slack Adjuster, Foot Valve, Governor, Compressor, Brake Chamber, Air Dryer, Storage Tank and Other Component Types), Brake Type, Vehicle Type and By Geography
According to Stratistics MRC, the Global Air Brake System Market is accounted for $5.3 billion in 2023 and is expected to reach $7.7 billion by 2030 growing at a CAGR of 5.4% during the forecast period. The air brake system is a type of stopping device that is used in large, heavy vehicles. An air brake, also known as a compressed air brake system, is a sort of friction brake intended for cars. It works by applying compressed air to a piston, which then exerts pressure on the brake pads, bringing the vehicle to a stop. Large and heavy vehicles, especially those with many trailers, must be connected to the air brake system. Examples of these vehicles are trucks, trailers, buses, and railroad trains. In lighter cars, a water-driven stopping mechanism is used; the air-powered braking system is used as an alternative.
According to OICA, Asia Pacific accounted for ~60% of the global truck production in 2022 due to OEMs such as Zheng Zou Yutong, Xiamen Kinglong Motor, Tata Motors, and Ashok Leyland.
Market Dynamics:
Driver:
Increased manufacturing of high-speed trains and railroads
The need for improved and more sophisticated safety components has grown as a result of technological developments and the adoption of automation in the railway sector. As a result, manufacturers have created new and sophisticated parts like braking systems, which are useful in high-speed trains and railways for assuring safety and retaining control of the vehicle. Thus, the market has expanded as a result of the expansion of railways and high-speed trains.
Restraint:
Electric vehicles and buses are receiving more attention
All nations will concentrate on lowering global carbon emissions in the upcoming years due to environmental developments. The automobile sector, which generates a large amount of carbon emissions, is working to create zero-emission cars. Electric commercial vehicles will significantly reduce the owner's fuel and maintenance expenses, according to the cost-benefit analysis. The market for electric trucks and buses is expected to grow as a result of all these factors.
Opportunity:
Emphasis on compliance and road safety
To decrease traffic accidents and boost road safety, governments and regulatory agencies around the world are enforcing strict safety standards for commercial vehicles. Air brake systems are a favoured option for meeting safety and compliance standards because of its reputation for providing responsive and effective braking performance. A significant factor propelling the market for air brake systems is the rising demand for commercial vehicles including trucks, buses, and trailers.
Threat:
High initial expenditure
Commercial vehicle air brake systems can be expensive to install and maintain. For fleet owners, especially those with small or medium-sized fleets, the initial investment in air brake components, including compressors, valves, and chambers, may provide a financial hurdle. Additionally, the cost of replacing components utilised in air brakes, such as compressors, diaphragms, and others, is higher. Since air brakes are more expensive than hydraulic brakes, the air brake system market is expected to suffer during the forecast period.
COVID-19 Impact:
The whole global automotive sector supply chain was thrown off balance when COVID-19 suddenly appeared. The subsequent closure of the assembly plants disrupted production and stopped the export of Chinese components. Government-enforced travel restrictions across the globe have also interfered with opportunities for business partnerships and collaboration. People were unable to move freely from one location to another due to the pandemic. Additionally, the supply side of the automobile brake system market was impacted by the limitations of the small staff at the production site.
The air brake drum segment is expected to be the largest during the forecast period
The air brake drum segment is estimated to have a lucrative growth. Drum brakes in commercial vehicles primarily comprise brake drums, brake shoes, and linings. Thus, tightening regulations governing vehicle stopping distances and the introduction of more modern braking systems globally would have an effect on the development of air drum brakes in the years to come. Due to their widespread application and established performance, they are the most popular type on the market for heavy-duty trucks, buses, and trailers.
The semi-trailer segment is expected to have the highest CAGR during the forecast period
The semi-trailer segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to the increase in road infrastructure and the high rate of industrialization. Since the trailer is an optional attachment, it is not taken into account in the air brake system market for semi-trailer tractors. Due to the need for higher-quality air brakes, the cost of air brake systems for semi-trailer tractors is significantly higher than that of rigid body and heavy-duty trucks.
Region with Largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to increased industrialization, urbanisation, and the expansion of transportation networks. The need for dependable brake solutions has increased in the region as governments tighten laws for commercial vehicles and public awareness of traffic safety rises. Additionally, the continued growth of the mining and construction industries has increased the demand for heavy-duty trucks with effective air brake systems.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period. As consumers in the region are showing an increased inclination toward safety awareness, the region has witnessed higher growth than the matured markets. The ease of setting up manufacturing facilities has attracted a lot of firms to the area. Additionally, the market is growing as a result of both the rising accident rate and the rise in automobile ownership.
Key players in the market:
Some of the key players profiled in the Air Brake System Market include: ZF Friedrichshafen AG, Nabtesco Automotive Corporation, Brake Systems Inc., Meritor, Inc., Wabtec Corporation., Knorr-Bremse AG, SORL Auto Parts, Inc., Tenneco Inc., Grindlays Engine Parts Pvt. Ltd., Haldex, WABCO Holdings Inc., Hino Motors, Ltd., TSE Brakes Inc., ZF Friedrichshafen AG, Asia Brake Valve Co., Ltd., Soul Auto Parts, SAF-Holland and Knorr-Bremse AG.
Key Developments:
- In April 2023, SAF-Holland announced the launch of its new Air Disc Brake system. The Air Disc Brake is a brake system that is designed to improve the safety and performance of commercial vehicles.
- In April 2023, Knorr-Bremse AG announced the launch of its commercial vehicle aftermarket brand Knorr-Bremse Truck Services in South America. The portfolio for dealers, workshops, and fleet operators was presented at Automec 2023 in South America.
- In March 2023, Continental announced the launch of its new ContiTrailer EBS 3.0 air brake system. The ContiTrailer EBS 3.0 is a brake system that is designed to improve the efficiency and performance of trailer brakes.
Component Types Covered:
- Slack Adjuster
- Foot Valve
- Governor
- Compressor
- Brake Chamber
- Air Dryer
- Storage Tank
- Other Component Types
Brake Types Covered:
- Air Disc Brake
- Air Drum Brake
- Other Brake Types
Vehicle Types Covered:
- Semi-Trailer
- Heavy-Duty Truck
- Rigid-Body Truck
- Other Vehicle Types
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Emerging Markets
- 3.7 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Air Brake System Market, By Component Type
- 5.1 Introduction
- 5.2 Slack Adjuster
- 5.3 Foot Valve
- 5.4 Governor
- 5.5 Compressor
- 5.6 Brake Chamber
- 5.7 Air Dryer
- 5.8 Storage Tank
- 5.9 Other Component Types
6 Global Air Brake System Market, By Brake Type
- 6.1 Introduction
- 6.2 Air Disc Brake
- 6.3 Air Drum Brake
- 6.4 Other Brake Types
7 Global Air Brake System Market, By Vehicle Type
- 7.1 Introduction
- 7.2 Semi-Trailer
- 7.3 Heavy-Duty Truck
- 7.4 Rigid-Body Truck
- 7.5 Other Vehicle Types
8 Global Air Brake System Market, By Geography
- 8.1 Introduction
- 8.2 North America
- 8.2.1 US
- 8.2.2 Canada
- 8.2.3 Mexico
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 Italy
- 8.3.4 France
- 8.3.5 Spain
- 8.3.6 Rest of Europe
- 8.4 Asia Pacific
- 8.4.1 Japan
- 8.4.2 China
- 8.4.3 India
- 8.4.4 Australia
- 8.4.5 New Zealand
- 8.4.6 South Korea
- 8.4.7 Rest of Asia Pacific
- 8.5 South America
- 8.5.1 Argentina
- 8.5.2 Brazil
- 8.5.3 Chile
- 8.5.4 Rest of South America
- 8.6 Middle East & Africa
- 8.6.1 Saudi Arabia
- 8.6.2 UAE
- 8.6.3 Qatar
- 8.6.4 South Africa
- 8.6.5 Rest of Middle East & Africa
9 Key Developments
- 9.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 9.2 Acquisitions & Mergers
- 9.3 New Product Launch
- 9.4 Expansions
- 9.5 Other Key Strategies
10 Company Profiling
- 10.1 ZF Friedrichshafen AG
- 10.2 Nabtesco Automotive Corporation
- 10.3 Brake Systems Inc.
- 10.4 Meritor, Inc.
- 10.5 Wabtec Corporation.
- 10.6 Knorr-Bremse AG
- 10.7 SORL Auto Parts, Inc.
- 10.8 Tenneco Inc.
- 10.9 Grindlays Engine Parts Pvt. Ltd.
- 10.10 Haldex
- 10.11 WABCO Holdings Inc.
- 10.12 Hino Motors, Ltd.
- 10.13 TSE Brakes Inc.
- 10.14 ZF Friedrichshafen AG
- 10.15 Asia Brake Valve Co., Ltd.
- 10.16 Soul Auto Parts
- 10.17 SAF-Holland
- 10.18 Knorr-Bremse AG
List of Tables
- Table 1 Global Air Brake System Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 3 Global Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 4 Global Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 5 Global Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 6 Global Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 7 Global Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 8 Global Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 9 Global Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 10 Global Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 11 Global Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 12 Global Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 13 Global Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 14 Global Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 15 Global Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 16 Global Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 17 Global Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 18 Global Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 19 Global Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 20 North America Air Brake System Market Outlook, By Country (2021-2030) ($MN)
- Table 21 North America Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 22 North America Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 23 North America Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 24 North America Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 25 North America Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 26 North America Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 27 North America Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 28 North America Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 29 North America Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 30 North America Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 31 North America Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 32 North America Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 33 North America Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 34 North America Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 35 North America Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 36 North America Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 37 North America Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 38 North America Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 39 Europe Air Brake System Market Outlook, By Country (2021-2030) ($MN)
- Table 40 Europe Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 41 Europe Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 42 Europe Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 43 Europe Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 44 Europe Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 45 Europe Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 46 Europe Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 47 Europe Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 48 Europe Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 49 Europe Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 50 Europe Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 51 Europe Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 52 Europe Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 53 Europe Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 54 Europe Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 55 Europe Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 56 Europe Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 57 Europe Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 58 Asia Pacific Air Brake System Market Outlook, By Country (2021-2030) ($MN)
- Table 59 Asia Pacific Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 60 Asia Pacific Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 61 Asia Pacific Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 62 Asia Pacific Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 63 Asia Pacific Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 64 Asia Pacific Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 65 Asia Pacific Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 66 Asia Pacific Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 67 Asia Pacific Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 68 Asia Pacific Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 69 Asia Pacific Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 70 Asia Pacific Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 71 Asia Pacific Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 72 Asia Pacific Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 73 Asia Pacific Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 74 Asia Pacific Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 75 Asia Pacific Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 76 Asia Pacific Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 77 South America Air Brake System Market Outlook, By Country (2021-2030) ($MN)
- Table 78 South America Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 79 South America Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 80 South America Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 81 South America Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 82 South America Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 83 South America Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 84 South America Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 85 South America Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 86 South America Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 87 South America Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 88 South America Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 89 South America Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 90 South America Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 91 South America Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 92 South America Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 93 South America Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 94 South America Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 95 South America Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
- Table 96 Middle East & Africa Air Brake System Market Outlook, By Country (2021-2030) ($MN)
- Table 97 Middle East & Africa Air Brake System Market Outlook, By Component Type (2021-2030) ($MN)
- Table 98 Middle East & Africa Air Brake System Market Outlook, By Slack Adjuster (2021-2030) ($MN)
- Table 99 Middle East & Africa Air Brake System Market Outlook, By Foot Valve (2021-2030) ($MN)
- Table 100 Middle East & Africa Air Brake System Market Outlook, By Governor (2021-2030) ($MN)
- Table 101 Middle East & Africa Air Brake System Market Outlook, By Compressor (2021-2030) ($MN)
- Table 102 Middle East & Africa Air Brake System Market Outlook, By Brake Chamber (2021-2030) ($MN)
- Table 103 Middle East & Africa Air Brake System Market Outlook, By Air Dryer (2021-2030) ($MN)
- Table 104 Middle East & Africa Air Brake System Market Outlook, By Storage Tank (2021-2030) ($MN)
- Table 105 Middle East & Africa Air Brake System Market Outlook, By Other Component Types (2021-2030) ($MN)
- Table 106 Middle East & Africa Air Brake System Market Outlook, By Brake Type (2021-2030) ($MN)
- Table 107 Middle East & Africa Air Brake System Market Outlook, By Air Disc Brake (2021-2030) ($MN)
- Table 108 Middle East & Africa Air Brake System Market Outlook, By Air Drum Brake (2021-2030) ($MN)
- Table 109 Middle East & Africa Air Brake System Market Outlook, By Other Brake Types (2021-2030) ($MN)
- Table 110 Middle East & Africa Air Brake System Market Outlook, By Vehicle Type (2021-2030) ($MN)
- Table 111 Middle East & Africa Air Brake System Market Outlook, By Semi-Trailer (2021-2030) ($MN)
- Table 112 Middle East & Africa Air Brake System Market Outlook, By Heavy-Duty Truck (2021-2030) ($MN)
- Table 113 Middle East & Africa Air Brake System Market Outlook, By Rigid-Body Truck (2021-2030) ($MN)
- Table 114 Middle East & Africa Air Brake System Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
