The Global Air Brake System Market size is expected to reach $3.7 billion by 2030, rising at a market growth of 2.6% CAGR during the forecast period.
Heavy commercial vehicles and off-road truck manufacturing and sales are crucial to the market since they use air brakes as their fail-safe mechanism. The Bus segment will capture 1/5thshare in the market by 2030. According to the OICA, 23,418,078 commercial vehicles were manufactured worldwide in 2022. Due to the growth of e-commerce and the rebounding travel and tourism sector, demand for large trucks and buses has risen, particularly after 2020. In addition, in 2022, the number of commercial vehicles produced in India, China, Brazil, Mexico, Canada, France, and the United Kingdom were 1017818 units, 3184532 units, 544936 units, 2851071 units, 939364 units, 372707 units, and 101600, respectively. Some of the factors impacting the market are favorable regulations regarding load carrying capacity and compulsion of equipping air brakes in vehicles, rising cases of road accidents and strict government regulations for automotive safety and freezing of air brakes in cold temperatures.
In recent years, nations like India have seen a noticeable growth in their per axle load capacity. The need for high-power brakes has increased in the commercial vehicle category due to the increase in load per axle. The regulated load-carrying capacity per vehicle has grown for many medium commercial trucks because of increased weight per axle. For instance, vehicles that could previously only transport goods weighing up to 6 tons are now capable of doing so. Additionally, because of the mandates, it is predicted that the air brake installation rate will rise soon. Because of this, the market for medium-heavy vehicles is predicted to have a high demand for air brakes. Moreover, the incidence of road traffic accidents is still a significant concern across the globe. The WHO estimates that 1.3 million individuals per year die due to traffic accidents. Because of this, governments all over the world are primarily concentrating on the standard that will result in greater vehicle safety, safeguarding both the driver and passengers. Thus, because of the axle load mandates and rise in creating cutting-edge braking systems to comply with the new laws, the market will grow.
However, the components of air brakes are compressed air tanks and air pipes. Heat is produced during compression, and when this heat interacts with the air brake system's ambient temperature, moisture is produced. It is necessary to remove the moisture from the low areas of the tanks where it collects. The service life of the components is greatly reduced if the moisture is permitted to stay in the system; this is relevant in warm, hot, or cold weather. This could degrade air brakes' overall performance and put the vehicle's safety in danger. The market may expand slowly during the projection period due to this issue with air brake systems.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Knorr-Bremse AG, Haldex AB, Meritor, Inc. (Cummins, Inc.), ZF Friedrichshafen AG, Wabtec Corporation, Nabtesco Corporation, TSE Brakes Inc. (Marmon Holdings, Inc.) (Berkshire Hathaway Inc.), SORL Auto Parts Inc. (Ruili Group Ruian Auto Parts Co., Ltd.) and Brakes India Private Limited (TVS Group) (T V Sundram Iyengar & Sons Limited)
Heavy commercial vehicles and off-road truck manufacturing and sales are crucial to the market since they use air brakes as their fail-safe mechanism. The Bus segment will capture 1/5thshare in the market by 2030. According to the OICA, 23,418,078 commercial vehicles were manufactured worldwide in 2022. Due to the growth of e-commerce and the rebounding travel and tourism sector, demand for large trucks and buses has risen, particularly after 2020. In addition, in 2022, the number of commercial vehicles produced in India, China, Brazil, Mexico, Canada, France, and the United Kingdom were 1017818 units, 3184532 units, 544936 units, 2851071 units, 939364 units, 372707 units, and 101600, respectively. Some of the factors impacting the market are favorable regulations regarding load carrying capacity and compulsion of equipping air brakes in vehicles, rising cases of road accidents and strict government regulations for automotive safety and freezing of air brakes in cold temperatures.
In recent years, nations like India have seen a noticeable growth in their per axle load capacity. The need for high-power brakes has increased in the commercial vehicle category due to the increase in load per axle. The regulated load-carrying capacity per vehicle has grown for many medium commercial trucks because of increased weight per axle. For instance, vehicles that could previously only transport goods weighing up to 6 tons are now capable of doing so. Additionally, because of the mandates, it is predicted that the air brake installation rate will rise soon. Because of this, the market for medium-heavy vehicles is predicted to have a high demand for air brakes. Moreover, the incidence of road traffic accidents is still a significant concern across the globe. The WHO estimates that 1.3 million individuals per year die due to traffic accidents. Because of this, governments all over the world are primarily concentrating on the standard that will result in greater vehicle safety, safeguarding both the driver and passengers. Thus, because of the axle load mandates and rise in creating cutting-edge braking systems to comply with the new laws, the market will grow.
However, the components of air brakes are compressed air tanks and air pipes. Heat is produced during compression, and when this heat interacts with the air brake system's ambient temperature, moisture is produced. It is necessary to remove the moisture from the low areas of the tanks where it collects. The service life of the components is greatly reduced if the moisture is permitted to stay in the system; this is relevant in warm, hot, or cold weather. This could degrade air brakes' overall performance and put the vehicle's safety in danger. The market may expand slowly during the projection period due to this issue with air brake systems.
Brake Type Outlook
On the basis of brake type, the market is fragmented into drum air brake, and disc air brake. The disc air brake segment covered a considerable revenue share in the market in 2022. In addition to recovering fast from immersion, disc brakes are less likely to experience brake fade brought on by overheating braking components. As a result of improved driving comfort and rising demand for safety, auto manufacturers are using disc brakes in their vehicles more and more. Independent of the state of the road, disc brakes provide a more precise and shortened braking distance, assuring the passengers' safety.
Vehicle Type Outlook
Based on vehicle type, the market is segmented into rigid body trucks, heavy duty trucks, semi trailer tractor, and bus. In 2022, the heavy duty trucks segment held the highest revenue share in the market. The need for air brake systems in heavy-duty vehicles rises due to their high capacity to carry loads. The primary differences lie in the load-carrying capability and the number of components of air brake systems for rigid trucks and heavy-duty trucks. Fleet managers prefer heavy-duty trucks because of their powerful engines and high weight-bearing capacity.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.
Application Outlook
By application, the market is classified into compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slack adjuster. The foot valve segment procured a promising growth rate in the market in 2022. The brake valve is a part of the braking system that aids in regulating the flow of brake fluid. The foot valve is crucial because it guarantees the brakes can work correctly and deliver reliable stopping power when required. The market is expected to grow due to increased demand for fast racing cars and strict laws requiring the installation of anti-lock braking systems (ABS) in commercial vehicles.Regional Outlook
Region wise, the market is analyzed across North America, Europe, Asia Pacific and LAMEA. In 2022, the Asia Pacific region led the market by generating the largest revenue share. The region is one of the most profitable investment markets and has made a substantial contribution to global automobile sales. By locating their corporate headquarters or manufacturing facilities in nations like Japan, China, and India, which are the region's automotive hubs, the major players in the automotive business have concentrated on expanding in Asia. The markets for cars are expanding most quickly in emerging nations like India, China, Japan, Australia, and others. Due to the ease of setting up industrial facilities, many firms have expanded into the region.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Knorr-Bremse AG, Haldex AB, Meritor, Inc. (Cummins, Inc.), ZF Friedrichshafen AG, Wabtec Corporation, Nabtesco Corporation, TSE Brakes Inc. (Marmon Holdings, Inc.) (Berkshire Hathaway Inc.), SORL Auto Parts Inc. (Ruili Group Ruian Auto Parts Co., Ltd.) and Brakes India Private Limited (TVS Group) (T V Sundram Iyengar & Sons Limited)
Strategies Deployed in the Market
- Sep-2022: Brakes India Private Limited unveiled the 22.5-inch lightweight monobloc single-piston air disc brake at the IAA Transportation 2022 event. The product has undergone global-standard testing and is poised to set a new standard in the commercial vehicles sector. Additionally, the product weighing in at 34 kg, including the pad, it is notably lighter than the company's dual-piston system.
- Mar-2022: Meritor, Inc. collaborated with ConMet, a leading global manufacturer of components for the commercial vehicle industry. Under this collaboration, Meritor is creating specialized trailer suspensions, brakes, and tire inflation systems designed to complement ConMet's PreSet Plus® eHub.
- Sep-2021: TSE Brakes Inc. introduced the TSE-Sense intelligent air brake actuator at the Technology & Maintenance Council Fall Meeting and Transportation Technology Exhibition. The setup includes intelligent brake actuators and a data integration box (DIB) known as TSE-Sense, a patented innovation from TSE Brakes, and constantly monitors brake stroke at every wheel end.
- Jan-2021: ZF Friedrichshafen AG unveiled ZF brake control solutions. This launch places ZF Friedrichshafen a technology and system supplier for electromobility with a line of production orders. Furthermore, ZF Friedrichshafen optimizes the recovery of braking energy - enhancing the range and daily usability of electric vehicles.
- Nov-2020: Meritor, Inc. partnered with Daimler Trucks North America, a commercial vehicle manufacturer in the automotive industry headquartered in Portland, Oregon. As part of this partnership, the Freightliner Cascadia included the EX+ LS air disc brakes. Additionally, other trucks in DTNA's Freightliner and Western Star lineup have provided the EX+ LS air disc brakes as an option.
- Apr-2020: Haldex AB and the Wielton Group, a Polish manufacturer of tippers and tautliners for traction units came into an agreement. Under this agreement, Haldex will be the primary provider of EBS and air suspension systems and will have a chance to introduce its new EBS 4.0 for trailers to the entire Wielton Group, while also expanding service and aftermarket reach across Europe.
- Mar-2019: ZF Friedrichshafen came into an agreement to acquire Wabco, a leading global supplier of commercial vehicle technologies. Through this acquisition, ZF Friedrichshafen aims to be a dominant global provider of integrated mobility systems for commercial vehicles, offering increased value to ZF's commercial vehicle clients.
Scope of the Study
Market Segments Covered in the Report:
By Vehicle Type
- Heavy Duty Trucks
- Rigid Body Trucks
- Semi Trailer Tractor
- Bus
By Brake Type
- Drum Air Brake
- Disc Air Brake
By Application
- Brake Chamber
- Compressor
- Governor
- Air Dryer
- Foot Valve
- Storage Tank
- Slack Adjuster
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Knorr-Bremse AG
- Haldex AB
- Meritor, Inc. (Cummins, Inc.)
- ZF Friedrichshafen AG
- Wabtec Corporation
- Nabtesco Corporation
- TSE Brakes Inc. (Marmon Holdings, Inc.) (Berkshire Hathaway Inc.)
- SORL Auto Parts Inc. (Ruili Group Ruian Auto Parts Co., Ltd.)
- Brakes India Private Limited (TVS Group) (T V Sundram Iyengar & Sons Limited)
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
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- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market At a glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Global Air Brake System Market by Vehicle Type
Chapter 6. Global Air Brake System Market by Brake Type
Chapter 7. Global Air Brake System Market by Application
Chapter 8. Global Air Brake System Market by Region
Chapter 9. Company Profiles
Companies Mentioned
- Knorr-Bremse AG
- Haldex AB
- Meritor, Inc. (Cummins, Inc.)
- ZF Friedrichshafen AG
- Wabtec Corporation
- Nabtesco Corporation
- TSE Brakes Inc. (Marmon Holdings, Inc.) (Berkshire Hathaway Inc.)
- SORL Auto Parts Inc. (Ruili Group Ruian Auto Parts Co., Ltd.)
- Brakes India Private Limited (TVS Group) (T V Sundram Iyengar & Sons Limited)
Methodology
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