Industry Background:
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Billion) |
Key Companies Profiled | 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 AMA, the market for Air Brake System is expected to register a CAGR of 3.4% during the forecast period to 2030. This growth is primarily driven by Robust Increase in Population across the Globe and Rising Industrialization and Urbanization.
Globally, a noticeable market trend is evident Growing Infrastructural Spending in Adopting Automated Systems
The Auto Parts & Equipment sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as 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), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Air Brake System market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
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.
Influencing Trend:
Growing Infrastructural Spending in Adopting Automated Systems and Increasing Railway Networks and introduction to High Speed Trains
Market Growth Drivers:
Robust Increase in Population across the Globe and Rising Industrialization and Urbanization
Challenges:
Unsuited to Use in Low Temperature Conditions and Continues Technological Advancements will lead to Maximize Threat of Substitutes
Restraints:
Comparatively Expensive than Conventional Brake Systems and Up Surging Focus on Electrical Automobiles such as Trucks and Buses
Opportunities:
Mandatory Air Brake Installation for Load Carrying Vehicles and Increased Safety with Air Brake over Conventional Breaks
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Air Brake System Market
- Analysis about New Entrants in Air Brake System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Air Brake System Study Sheds Light on
The Air Brake System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Air Brake System industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Air Brake System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.