Increasing sales and production of commercial & OHV trucks, increasing railways & high-speed trains will drive the air brake system market.
The air brake system market is estimated to be USD 4.5 billion in 2018 and is projected to reach USD 5.6 billion by 2025, at a CAGR of 3.31% during the forecast period. The demand for the air brake systems is driven by the increasing sales and production of commercial & OHV trucks, increasing railways & high-speed trains and fail-safe nature of air brakes compared with that of hydraulic brakes. However, the high cost and increasing stopping distance of air brakes over hydraulics brakes are acting as restraints for the air brake system market.
Compressor segment is estimated to have the largest share in construction and mining trucks. The compressor segment held the largest market, in terms of value, for construction and mining trucks in 2018.Only rigid dump trucks and articulated dump trucks have been considered under this vehicle segment.
The trucks used in the construction and mining activities are of high power output (HP) with heavy load carrying capability and should withstand harsh and rigorous working conditions as seen in the construction and mining environment.Because of heavy load handling capabilities, these trucks also require effective braking mechanisms, which subsequently requires the deployment of large load capacity and efficient compressors.
This also leads to the additional cost of these compressors compared to those fitted in the other vehicle type. Thus, with rising construction and mining activities around the world, the demand for trucks used in this industry would also increase, which would ultimately drive the growth of the high capacity compressors for construction and mining trucks in the coming years.
Disc brake is estimated to be the fastest growing air brake system market, by brake type.
The disc brake segment is estimated to grow at the fastest rate, by brake type, during the forecast period.The major factor driving the demand for air disc brakes is the rising focus on safety and stopping distance reduction mandate.
For instance, the National Highway Traffic Safety Administration (NHTSA) implemented stopping distance regulations to decrease the overall fatality rate in the case of large trucks.There are stopping distance regulations for various vehicle configurations (three-axle, two-axle, and multi-axle) along with loaded and unloaded commercial vehicles.
The regulation implemented in August 2013 stated that the stopping distance for unloaded three-axle trucks should be 235 feet and for loaded three-axle trucks should be 310 feet.Additionally, because of the increase in population, there is a high demand for intracity and intercity transfers at low cost, which is estimated to drive the air brake system market in railways and some high-speed trains.
All these factors would ultimately spur the growth of air disc brakes in the future.
Asia Oceania is estimated to be the largest air brake system market during the forecast period. The Asia Oceania region is projected to lead the air brake system market owing to the largest share in global commercial vehicle production compared to other regions such as North America and Europe.As per MarketsandMarkets Analysis, the share of heavy trucks and buses in Asia Oceania is very high.
Further, according to OICA statistics, heavy trucks have shown a significant rise of 19.5% between 2016 and 2017. As the air brake systems are fitted in almost all medium and heavy trucks (above 7.0 ton), the growing number of heavy trucks in Asia Oceania would subsequently boost the air brake system market in the coming years. • By Company Type: Tier I - 58%, Tier II - 17%, and OEMs -25% • By Designation: C level - 53%, D level - 28%, Others - 19% • By Region: Europe - 42%, North America - 34%, Asia Oceania — 18%, RoW – 6%
Note: Others includes sales managers, marketing managers, and product managers.
Company tiers are based on the value chain; revenue of the company is not considered OEMs are vehicle manufacturers, tier-1 companies are air brake system manufacturers, and Tier-2 companies are air brake component manufacturers The air brake system market is dominated by global players and comprises several regional players.The key players in the air brake system market are Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), Haldex (Sweden), ZF (Germany), Wabtec (US), Nabtesco (Japan), TSE Brakes (US), Federal-Mogul (US) and SORL Auto Parts (China).
The study includes an in-depth competitive analysis of these key players in the air brake system market with their company profiles, SWOT analysis of the top 5 companies, recent developments, and key market strategies.
Research Coverage The study segments the air brake system market on the basis of component (compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slake adjuster), vehicle type (rigid body, heavy-duty trucks, semi-trailer, and bus), brake type (disc and drum), and region (North America, Asia Oceania, Europe, and RoW). The market also segments the air brake system market for rolling stock, by component (compressor, storage tank, driver’s brake valve, brake cylinder, and brake pipe) and construction & mining trucks, by component (compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slake adjuster).
Key Benefits of Buying the Report:
This report provides insights with reference to the following points: • Country-level vehicle type: The report offers in-depth market sizing and forecast up to 2025, by vehicle type, such as rigid body, heavy-duty truck, semi-trailer, and bus. The market sizing for the air brake system is covered at the country and regional levels that are considered in this study. • Construction & mining trucks, by component: The report offers in-depth market sizing and forecast up to 2025, by component, such as compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slake adjuster. The market sizing for components is covered at a regional level that is considered in this study. • Rolling Stock, by component: The report offers in-depth market sizing and forecast up to 2025, by component, such as compressor, storage tank, driver’s brake valve, brake cylinder, and brake pipe. The market sizing for rolling stock is covered for regions considered in the study. • The report provides “Market Share” of the leading players in the air brake system market. • Market Development: The report provides comprehensive information about lucrative emerging markets for the air brake system across regions. • Product Development/Innovation: The report gives detailed insights into R&D activities, upcoming technologies, and new product launches in the air brake system market. • Market Diversification: The report offers detailed information about untapped markets, investments, new products, and recent developments in the air brake system market.
Our reports have been used by over 10K customers, including:
The North America soot sensor market accounted for US$ 791.6 Mn in 2018 and is expected to grow at a CAGR of 2.0% over the forecast period 2019-2027, to account for US$ 934.3 Mn by 2027. Various stakeholders in the North America soot sensors market include soot sensor provider, exhaust system providers, and automotive OEMs. During the forecast...
The increasing vehicle production and stringency in emission norms will drive the fluid transfer system market The fluid transfer system market is projected to grow to USD 29.6 billion by 2027 from USD 17.5 billion in 2019, at a CAGR of 6.8% during the forecast period. The major driving factors for the fluid transfer system...
Global Automotive Suspension System Market: By Suspension System (Active Suspension System, Semi-Active Suspension System and Passive Suspension System), By Damping Type (Hydraulic and Electromagnetic), By Vehicle Type (Passenger Cars and Commercial Vehicle), By Sales Channel (OEM and Aftermarket), and Region - Forecast Till 2023 Market...
208 pages •
By Asia Market Information & Development Company
• Oct 2019
China’s demand for Recreational Vehicles has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, imports & exports, consumer...
High focus of automakers to introduce fuel-efficient vehicles coupled with stringent emission norms in several countries are anticipated to trigger the demand for automotive pumps. The global automotive pump market is estimated to grow from USD 16.3 billion in 2019 to USD 26.5 billion by 2027, at a CAGR of 6.3%. Major vehicle...
145 pages •
By Infiniti Research Limited
• Oct 2019
Global Commercial Vehicle Transmission Market: About this market This commercial vehicle transmission market analysis considers sales from the automatic transmission, manual transmission, and automated manual transmission types. Our analysis also considers the sales of commercial vehicle transmission in APAC, Europe, North...
The global automotive mold market is expected to grow at a CAGR of over 7% during the forecast period 2018-2024. The global automotive mold industry is set to witness the launch of virtual molding via enhanced digital software. The introduction of new energy vehicles (electric ones) in the automobile market is one of the key growth...
The global terminal tractor market is estimated to account to US$ 623.8 Mn in 2018 and is expected to grow at a CAGR of 4.5% during the forecast period 2019 – 2027, to account to US$ 908.1 Mn by 2027. the growth of the global terminal tractor market is also led by escalating spending by sectors, such as logistics and distribution. The global...
TRATON SE, erstwhile Volkswagen Truck & Bus, is on the transformational road from being a commercial truck and bus manufacturer to a mobility services provider.With the group’s MAN brand operating on wafer thin margins while Swedish heavy-truck and bus brand Scania enjoys double digit profit and growth, the group has laid a target of 9% profit...
Increase in mining and construction application and need for infrastructure development in developing countries is expected to drive the market for off-highway vehicles while increasing stringency in emission regulations to drive the demand for electric and hybrid equipment The off-highway electric vehicle market is projected to grow at...
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.