Air Brake System Market Share

Air Brake System Market Overview:

Air Brake System Market Size was valued at USD 4.83 Billion in 2021. The Air Brake System industry is projected to grow from USD 5.03 Billion in 2022 to USD 6.61 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.51% during the forecast period (2022 - 2030). The Air brake system is a kind of braking mechanism utilized in enormous hefty vehicles. An air brake or a compressed air brake system is a type of friction brake designed for vehicles in which the compressed air is applied on a piston, which further applies pressure to the brake pads, which results in causing the vehicle to stop. Air brakes are used in large and hefty vehicles, particularly those having multiple trailers, which must be linked into the air brake system, such as trucks, trailers, buses, and to their use in railroad trains. The air-powered brake system is utilized as an option for a water-driven stopping mechanism, which is utilized in lighter vehicles. The significant benefit of this system is it's well planned with sufficient safeguarding ability to stop the vehicle securely even with impressive spillage. These sorts of braking mechanisms are not difficult to introduce on undercarriage and trailers as pipes interconnect them. Henceforth, they are profoundly utilized in substantial vehicles.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Air Brake System Market Trends

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  Increased production of railways and high-speed trains

  
  

With the advancements in technology and the introduction of automation in the railway industry, the demand for better and more advanced safety components has increased. This has led the manufacturers to develop new and advanced components such as braking systems, which are effective in the railways and high-speed trains for ensuring safety and maintaining control over the vehicle. Governments across the globe have taken initiatives for the betterment and advancement of the railways eventually leading to an increase in the count. Thus, the increased number of railways and high-speed trains has led to the growth of the market.

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  Increase in Sales & Production of Commercial Vehicles and Off-Highway Trucks

  
  

Advancements in technology along with the advent of automation in automobiles have increased the demand for vehicles equipped with better & advanced safety features. This has led vehicle manufacturers across the globe to develop vehicles that are equipped with the latest technology. With a surge in demand for transportation through vehicles and a rise in urbanization, the demand for commercial vehicles and off-highway trucks has raised. This has led component manufacturers across the globe to develop better and long-lasting components such as air brakes to be equipped in vehicles, thereby ensuring longer life and safety. Thus the increase in the sales & production of commercial vehicles and off-highway trucks is expected to boost the growth of the market.

Air Brake System Market Segment Insights

Air Brake System Technology Insights

The market segmentation, based on Technology, includes T.C.S. (Traction Control system), E.S.C. (Electronic Stability Control), EBD (Electronic Brake-force Distribution), and A.B.S. (Anti-Lock braking system). The A.B.S. (Anti-Lock braking system) segment hold the majority share in 2021 of the market. The growing concerns over highway accidents caused due to skidding and loss of control in the vehicles. The A.B.S. is a part of the anti-skid braking system which enhances the security and the driving experience of the vehicle.

Air Brake System Vehicle Type Insights

Based on Voltage, the market segmentation includes Heavy-Duty, Rigid Body, Semi-Trailer, and Bus. The Rigid Body segment is accounted for the largest share of the market. This is because commercial vehicles are required to generate extra braking force due to their high gross weight, which will make it hazardous for the driver to use the foot brake system only. Also, the air brake system, being the second independent and emergency braking system, provides the driver more time to apply the foot brake to avoid an accident.

Air Brake System Application Insights

Based on Application, the market segmentation includes Passenger, Commercial. The Commercial segment dominated the market in 2021. The growth of the commercial segment can be attributed to the increasing demand for air brake systems from the transportation and logistics industry, due to their long life cycle, repair, and maintenance costs, and overall cost-effectiveness.

Figure 2: Air Brake System Market, by Application, 2021 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Air Brake System Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific held the largest market share in 2021. As a result, businesses in the area provide considerable cost savings. Additionally, the center of the car manufacturing industry is located in nations like China and India, among others. The market is anticipated to develop as a result of the increased popularity of automotive braking systems and a rise in sales of luxury and premium vehicles. Additionally, the rise in automotive ownership and the rising accident rate both contribute to the market's expansion.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: AIR BRAKE SYSTEM MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America's market is predicted to increase at a CAGR because of a rising desire for improved vehicle performance in poor weather, the presence of major automobile manufacturers, and a rise in the supply of light commercial vehicles and passenger cars.

Air Brake System Key Market Players & Competitive Insights

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth. With significant market development such as new product releases, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Air Brake System industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Air Brake System industry to benefit customers and expand the market sector. Major market players, including Aisin Seiki Co. Ltd, Continental, Mando Corporation, Knorr-Bremse, and others, are attempting to increase market demand by funding R&D initiatives.

Aisin Seiki provides major OEMs with engines, drivetrain, body and chassis, aftermarket, and other automobile parts. Aside from the automotive sectors, Aisin also provides life and amenity items (such as furniture and sewing machines), energy systems, welfare products, and other products/services. Aisin Seiki also collaborated with Toyota Central R&D Labs Inc. on the development of dye-sensitized solar cells.

Continental Automotive is a manufacturer of automobile parts. Driver assistance, hydraulic braking, passive safety, vehicle dynamics, conveyance, air spring, vibration control, and fluid systems are all available. The firm manufactures tires for commercial vehicles, two-wheelers, passenger vehicles, and light trucks. Continental Automotive Grundstücksgesellschaft also provides solutions for connected vehicle networking, human-machine interfaces, actuation, and other areas.

Key Companies in the Air Brake System market include

• Wabco


• Meritor


• SORL Auto Parts, Inc


• Aisin Seiki Co. Ltd


• Akebono Brake Industry Co. Ltd


• Haldex


• Continental


• Nissin Kogyo Co. Ltd


• Brembo


• Mando Corporation


• Knorr-Bremse

Air Brake System Industry Development

November 2022: Continental's semi-dry braking system has received orders totaling more than 2 billion euros. Continental will transition its client from a wet to a semi-dry braking system, which will comprise numerous additional components.

January 2021: Mando Corporation introduced its new "Freedom in Mobility" concept. An integrated module of "x-by-Wire" technology, comprising Mando's BbW (Brake-by-Wire) and SbW (Steer-by-Wire), all connected by electric hyper-connectivity, will be launched, where a vehicle effortlessly connects with a driver.

Air Brake System Market Segmentation

Air Brake System Technology Outlook

• C.S. (Traction Control system)


• S.C. (Electronic Stability Control)


• EBD (Electronic Brake-force Distribution)


• B.S. (Anti-Lock braking system)

Air Brake System Vehicle Type Outlook

• Heavy-Duty


• Rigid Body


• Semi-Trailer


• Bus

Air Brake System Application Outlook

• Passenger


• Commercial

Air Brake System Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America