What is Global Air Brake System Market?
The Global Air Brake System Market is a comprehensive study of the various aspects of the air brake system industry on a global scale. This market encompasses the production, distribution, and usage of air brake systems, which are essential components in heavy-duty vehicles such as trucks, buses, and trailers. These systems use compressed air as a method of braking, providing a safer and more efficient alternative to traditional hydraulic brakes. The market is vast and diverse, with numerous manufacturers and suppliers contributing to its growth and development. The value of this market was estimated to be US$ 4125 million in 2022, and it is projected to reach US$ 4680.7 million by 2029. This indicates a steady growth rate, with a Compound Annual Growth Rate (CAGR) of 1.8% expected during the forecast period of 2023-2029.
Air Disc Brake, Air Drum Brake in the Global Air Brake System Market:
The Global Air Brake System Market is segmented based on the type of brake system, namely Air Disc Brake and Air Drum Brake. The Air Disc Brake segment is the largest, accounting for over 79% of the market. These brakes are preferred for their superior performance, including better heat dissipation and shorter stopping distances. On the other hand, Air Drum Brakes are less expensive and simpler to maintain, making them a popular choice for certain applications. The major players in this market include Knorr-Bremse, Wabco, Haldex, Nabtesco-Automotive, Sorl Auto Parts, Aventics (Emerson), Tenneco (Federal-Mogul), MGM Brakes, Sealco, TSE Brakes, Fritec, among others. These companies collectively account for about 62% of the market.
Heavy Trucks and Trailers, Buses, Others in the Global Air Brake System Market:
The usage of the Global Air Brake System Market is widespread, with the primary areas being Heavy Trucks and Trailers, Buses, and Others. The Heavy Trucks and Trailers segment is the largest, with a share of over 63%. This is because air brake systems are essential for these vehicles, providing the necessary stopping power for their heavy loads. Buses also make up a significant portion of the market, as they require reliable and efficient braking systems for the safety of their passengers. The 'Others' category includes various other applications of air brake systems, such as in construction equipment and agricultural machinery.
Global Air Brake System Market Outlook:
The Global Air Brake System Market outlook is positive, with steady growth expected in the coming years. The market was valued at US$ 4125 million in 2022 and is projected to reach US$ 4680.7 million by 2029. This represents a CAGR of 1.8% during the forecast period of 2023-2029. The major players in this market, including Knorr-Bremse, Wabco, Haldex, Nabtesco-Automotive, Sorl Auto Parts, Aventics (Emerson), Tenneco (Federal-Mogul), MGM Brakes, Sealco, TSE Brakes, Fritec, collectively account for about 62% of the market. The largest market is in Asia-Pacific, which holds a share of over 56%. The largest segment is the Air Disc Brake, which holds a share of over 79%. The largest application area is in Heavy Trucks and Trailers, which holds a share of over 63%.
| Report Metric | Details |
| Report Name | Air Brake System Market |
| Accounted market size in 2023 | US$ 4125 million |
| Forecasted market size in 2030 | US$ 4680.7 million |
| CAGR | 1.8% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Knorr-Bremse, Wabco, Haldex, Nabtesco-Automotive, Sorl Auto Parts, Aventics (Emerson), Tenneco (Federal-Mogul), MGM Brakes, Sealco, TSE Brakes, Fritec |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
