The air brake system plays a pivotal role in heavy-duty vehicle safety, prevalent in trucks and buses. Operating on compressed air, it facilitates efficient braking by releasing air pressure when the driver engages the brake pedal. Activating brake chambers induces friction among components, effectively slowing or halting the vehicle. This reliable system enhances safety and control, addressing market demands for robust braking solutions in large vehicles. Its contribution to road safety aligns with market priorities, emphasizing durability and reliability.
Data Bridge Market Research analyses that the Global Air Brake System Market which was USD 2,235 million in 2022 and is expected to reach USD 5,560 million by 2030, registering a CAGR of 5.7% during the forecast period of 2023-2030.
" Rapid urbanization drive the market growth"
The accelerating global urbanization trend serves as a key catalyst propelling the growth of the air brake system market. As urban centers expand, there is a surge in demand for heavy-duty vehicles such as trucks and buses, essential for transportation and logistics. The need for reliable braking systems escalates in tandem with increased vehicular activity. Air brake systems, renowned for their effectiveness and safety in larger vehicles, witness heightened demand, aligning with the growing requirements of urban infrastructure and reinforcing their significance in the evolving automotive landscape.
What restraints the growth of the global air brake system market?
" Excessive air leakage hamper the market growth"
Excessive air leakage rates present a detrimental challenge to the air brake system market, posing serious threats to vehicular safety. The unrestrained release of compressed air compromises the system's ability to transmit force effectively, resulting in diminished braking performance. This risk the complete safety of heavy-duty vehicles and leads to increased maintenance costs. The negative impact of high air leakage rates undermines the reliability and functionality of air brake systems, posing significant drawbacks for the market.
Segmentation: Global Air Brake System Market
The global air brake system market is segmented on the basis of type, component, vehicle type, technology, and application.
- On the basis type, the global air brake system market is segmented into air disc brake and air drum brake
- On the basis component, the global air brake system market is segmented into compressor, governor, tank, air dryer, foot valve, brake chamber, slack adjuster, and others
- On the basis vehicle type, the global air brake system market is segmented into rigid body truck, heavy-duty truck, semi-trailer, bus, and rolling stock
- On the basis technology, the global air brake system market is segmented into anti-lock braking system (ABS), traction control system (TCS) , electronic stability program or electronic stability control (ESC), and electronic brake force distribution (EBD)
- On the basis application, the global air brake system market is segmented into on-road, off-road vehicle, rolling stock and locomotive electro-pneumatic(EP), electronically controlled pneumatic (ECP), and others
Regional Insights: Asia-Pacific is expected to dominate the Global Air Brake System Market
Asia-Pacific is expected to dominate the global air brake system market, propelled by a concentration of manufacturers and prolific vehicle production in the region. The robust automotive industry, coupled with a high demand for heavy-duty vehicles, positions Asia-Pacific at the forefront. This dominance is underscored by a dynamic manufacturing landscape and a substantial contribution to the total growth and innovation in the global air brake system market.
North America is projected to witness high growth in the global air brake system market due to technological advancements. The region's robust adoption of electric vehicles and the rapid expansion of the semiconductor industry are anticipated to fuel accelerated market expansion throughout the forecast period from 2023 to 2030.
Recent Developments: Global Air Brake System Market
- In January 2021, Dell and Navitas Semiconductor partnered to innovate charging technologies based on GaN, aiming to create fresh applications for gallium nitride (GaN)
- In September 2020, Samsung Electronics collaborated with Verizon to enhance indoor coverage, utilizing GaN-based wall chargers as the standard for rapid charging, known for their compact design
- In November 2020, Baseus introduced its new GaN Series 120W charging heads, offering outputs of 45W, 65W, and 120W, including the first 65W triple-port quick charging plug, supporting multiple laptop brands
- In November 2020, GaN Systems expanded the power market with evaluation kits featuring GaN power modules, including the 100V Driver GaN DC/DC Power Stage Module, 650V 150A Half-Bridge IPM, and 650V 300A 3-Phase Module and Driver. GaN modules boast higher system performance and conform to industry standards
To know more about the study, visit https://www.databridgemarketresearch.com/reports/global-air-brake-system-market
The Prominent Key Players Operating in the Global Air Brake System Market Include:
- knorr-Bremse AG (Germany)
- WABCO (U.S.)
- Meritor, Inc.(U.S.)
- Haldex 9U.S.)
- ZF Friedrichshafen AG (Germany)
- Wabtec Corporation (U.S.)
- Nabtesco Automotive Corporation (U.S.)
- Tenneco Inc (U.S.)
- SORL Auto Parts, Inc (U.S.)
- TSE Brakes Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global air brake system market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Air Brake System Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
