The global air brake systemmarket size reached US$ 7.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.27% during 2023-2028.
An air brake system is a friction brake relying on compressed air pressing to stop a vehicle. It includes various components, such as brake chambers, foot valves, slack adjusters, brake shoes, drums, and air reservoirs, dryers and compressors. As compared to hydraulic brakes, an air brake system is more powerful and reliable, provides better control, reduces stopping distance, prevents extensive wear and tear of parts, and offers heavy braking effects. Consequently, it is used in railroad trains and heavy commercial vehicles, including trucks and buses.
Air Brake System Market Trends:
The global market is primarily driven by the widespread adoption of air brake systems due to their reliability and efficiency. These systems are easy to remove and attach and remain effective even with an air leak. In line with this, their increasing demand on account of rising vehicle safety concerns across the globe is creating a positive outlook for the market. Additionally, the introduction of lightweight air brake systems for trailer and line haul applications that use fewer parts and provide more ground clearance, protection from road debris, and higher efficiency are providing an impetus to the market growth. Furthermore, manufacturers are developing new and advanced components that are effective in the railways and high-speed trains while assuring safety and maintaining control over the vehicle. This, in turn, is strengthening the growth of the market around the world. Other factors, including the implementation of various government initiatives to promote the use of brake systems in heavy vehicles, increasing production and development of high-speed trains, and extensive research and development (R&D) activities, are anticipated to drive the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global air brake systemmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, type and vehicle type.
Breakup by Component:
Breakup by Type:
Air Disc Brake
Air Drum Brake
Breakup by Vehicle Type:
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Brakes India Private Limited, Haldex Inc., Knorr-Bremse AG, Meritor Inc. (Cummins Inc.), SORL Auto Parts Inc., TSE Brakes Inc., UNO Minda Limited, Wabtec Corporation, Yumak Air Brake Systems and ZF Friedrichshafen AG.
Base Year of the Analysis
Component, Type, Vehicle Type, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Brakes India Private Limited, Haldex Inc., Knorr-Bremse AG, Meritor Inc. (Cummins Inc.), SORL Auto Parts Inc., TSE Brakes Inc., UNO Minda Limited, Wabtec Corporation, Yumak Air Brake Systems and ZF Friedrichshafen AG
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Key Questions Answered in This Report
The global air brake system market was valued at US$ 7.6 Billion in 2022.
We expect the global air brake system market to exhibit a CAGR of 7.21% during 2023-2028.
The rising adoption of air brake systems in railroad trains and heavy commercial vehicles, such as trucks and buses, as they are more powerful and reliable, provide better control, reduce stopping distance, etc., is primarily driving the global air brake system market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for vehicles, thereby negatively impacting the global market for air brake systems.
Based on the component, the global air brake system market can be categorized into compressor, governor, tank, air dryer, foot valve, brake chamber, slack adjuster, and others. Among these, brake chamber holds the majority of the total market share.
Based on the type, the global air brake system market has been segregated into air disc brake and air drum brake, where air drum brake currently exhibits a clear dominance in the market.
Based on the vehicle type, the global air brake system market can be bifurcated into rigid body, heavy-duty truck, semi-trailer, and bus. Currently, heavy-duty truck accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global air brake system market include Brakes India Private Limited, Haldex Inc., Knorr-Bremse AG, Meritor Inc. (Cummins Inc.), SORL Auto Parts Inc., TSE Brakes Inc., UNO Minda Limited, Wabtec Corporation, Yumak Air Brake Systems, and ZF Friedrichshafen AG.
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