Global Air Brake System Market Overview:
An air brake which is also known as a compressed air brake system is a type brake for all types of automobiles. In case of Air Brake Systems, the pressure applied to stop the vehicle is generated by compressed air pressing on a piston. These braking systems are primarily used in large and heavy goods or passenger carrying vehicles. It is particularly used in those vehicles where the multiple trailers are linked to the brake system, such as trucks, buses, trailers, and semi-trailers. These air brake systems are also used in Railroads as well as Rail brakes. Some of the players profiled in the study are Knorr-Bremse (Germany), WABCO Vehicle Control Systems (Belgium), Meritor, Inc. (United States), Haldex (Sweden), ZF Friedrichshafen (Germany), T Tenneco Inc. (United States), Wabtec Corporation (United States), Nabtesco (Japan), TSE Brakes, Inc. (United States) and Emerson Electric (United States). According to Market Analyst at AMA, the Global Air Brake System market may see a growth rate of 3.4% and would reach the market size of USD5.4 Billion by 2025.
On the basis of geography, the market of Air Brake System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2019. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Vehicle Type, the sub-segment i.e. Rigid Body will boost the Air Brake System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Compressor will boost the Air Brake System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Robust Increase in Population across the Globe
- Rising Industrialization and Urbanization
- Growing Infrastructural Spending in Adopting Automated Systems
- Increasing Railway Networks and introduction to High Speed Trains
- Comparatively Expensive than Conventional Brake Systems
- Up Surging Focus on Electrical Automobiles such as Trucks and Buses
- Mandatory Air Brake Installation for Load Carrying Vehicles
- Increased Safety with Air Brake over Conventional Breaks
- Unsuited to Use in Low Temperature Conditions
- Continues Technological Advancements will lead to Maximize Threat of Substitutes
Key Market Developments:
On October 1st, 2018, Tenneco Inc. which is one of the leading global designers, manufacturers and marketers of Clean Air and Ride Performance products and technology solutions household as well as commercial vehicle original equipment manufacturers has acquired Federal-Mogul LLC which is a leading global supplier to original equipment manufacturers and the aftermarket.
In August 2018, the company “Knorr-Bremse” has launched two new types of disc brakes named ‘SYNACT and NEXTT’, for heavy-duty commercial vehicles manufacturing in upcoming years. As compared to Knorr-Bremse’s predecessor, these newly launched disk brakes achieve new dimensions of performance and weight. With a stronger and lighter caliper and smooth-running internal mechanics, the full braking torque of 30 kNm remains available even during prolonged braking maneuvers.
Air Brake System Manufacturers, Air Brake System Distributors and Traders, Automobile Manufacturers, Automobile Spare part Manufacturers, Automobile Industry Association, Government Agencies and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Air Brake System market on the basis of product [Air Disc Brake and Air Drum Brake] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Air Brake System market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Air Brake System industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Tata AutoComp Systems Limited (India), SORL Auto Parts (China), Sealco CVP (United States), Silverbackhd (Canada) and MEI Brakes (United Kingdom).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Air Brake System market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.