Global Passenger Air Brake Market, By Component (Compressor, Reservoir, Foot Valve, Brake Chamber, Others), Brake Type (Disc Brakes, Drum Brakes), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia Pacific, South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Passenger Air Brake Market
Data Bridge Market Research analyses that the passenger air brake market would exhibit a CAGR of 3.70% for the forecast period of 2022-2029. Growing number of passengers on daily basis especially in the developing economies, increased adoption of advanced automotive manufacturing technologies, growth and expansion of automotive industry especially in the developing economies and surging integration of systems of advanced passenger security and safety systems in the vehicles are the major factors attributable to the growth of passenger air brake market.
Passenger air brake is a braking mechanism that is generally used in vehicles that carry hefty passenger weights. Passenger air brakes are also known as compressed air brakes in which the compressed air is applied on a piston, which in turn applies the pressure on the breaking pads. Passenger air brakes are used particularly in vehicles consisting of multiple trailers such as trucks, buses and trains.
Growth in the level of investments for research and development activities and upsurge in the public and private partnership for the development of rail infrastructure will foster in growth in the passenger air brake market value. Rising awareness about the applications of hydraulic braking system and its several benefits and growing adoption of air brake or air compressor brake solutions in medium to heavy duty vehicles will also create lucrative growth opportunities for the passenger air brake market. Growing level of safety offered by the trains, surging rate of manufacturing of commercial and passenger vehicles, growth and expansion of military, construction, defence and other industries especially in the developing economies and growing number of tests of prototypes will also foster the passenger air brake market growth.
However, lack of technological expertise in the developing and underdeveloped economies will pose a major challenge to the passenger air brake market growth rate. High costs involved with technological innovations and research and development proficiencies, high initial investment required and dearth of required advanced infrastructural facilities in the underdeveloped regions will hamper the passenger air brake market growth rate. Further, slow rate of growth of the underdeveloped economies will also restrict the scope of growth for the passenger air brake market.
This passenger air brake market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on passenger air brake market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Passenger Air Brake Market Scope and Market Size
The global passenger air brake market is segmented on the basis of component, and brake type. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Passenger air brake market on the basis of component has been segmented as compressor, reservoir, foot valve, brake chamber, and others.
- Based on brake type, the passenger air brake market has been segmented into disc brakes, and drum brakes.
Passenger Air Brake Market Country Level Analysis
The global passenger air brake market is analysed and market size insights and trends are provided by country, component, and brake type as referenced above.
The countries covered in the passenger air brake market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific region dominates the passenger air brake market and will continue to flourish its trend of dominance during the forecast period owing to the surging demand for heavy duty trucks, increasing awareness about the benefits of hydraulic braking systems, surging focus towards the integration of passenger safety systems in both commercial and passenger vehicles, rising disposable income of the people in India and China, growing urbanization and industrialisation and growth and expansion of automotive industry in this region.
The country section of the passenger air brake market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Passenger Air Brake Market Share Analysis
The passenger air brake market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to passenger air brake market.
Some of the major players operating in the passenger air brake market are Knorr-Bremse AG, ZF Friedrichshafen AG, Meritor, Inc., Haldex, Wabtec Corporation, Nabtesco Automotive Corporation, Tenneco Inc., SORL Auto Parts, Inc., TSE Brakes Inc., UNO Minda., ANAND Group, Fricción y Tecnología, S.A. de C.V., Brakes India Private Limited., Airmaster Brake Systems, Yumak Air Brake Systems, Bosch Auto Parts, BNA Automotive India Pvt Ltd., Continental AG, EBC Brakes., ICER BRAKES, Nisshinbo Brake Inc., and Showa Denko Materials Co., Ltd., among others.