The air brake system is a type of friction brake for vehicles in which compressed air pressing on a piston tput pressure in the brake tstop a vehicle. It comprises several components including compressor, governor, tank, air dryer, foot valve, brake chamber, and slack adjuster. Currently, there are twtypes of air brake system commonly available in the market, namely, disc air brake system and drum air brake system. The air brake system is integrated in heavy as well as commercial vehicles tapply more massive brake effort. The increased demand for air brakes has positively impacted the Air Brake System Market.
The factors that drive the Air Brake System Market include growing population around the globe, increasing demand for heavy-duty trucks, rising number of railways, and high growth in urbanization. In addition, the factors that restrain the market growth are high cost and rising focus on electric trucks and buses. Also, increasing R&D activities by major players for development of cost-effective products make way for different growth opportunities for the air brake system market expansion.
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Globally, heavy-duty trucks form a major part of the current transportation industry. Heavy-duty trucks are accountable for freight & logistics movement on land. They function as pivotal vehicles across the manufacturing, construction, and agriculture sectors. Presently, increased involvement of heavy-duty trucks in the mining industry has been motivating the market growth in a significant manner. High availability of raw materials, low-cost labor, and inclining international and local trading activities world-wide are expected tpromote the heavy-duty truck industry across the regions. It is expected tgain an average growth of 5.0% or more annually during the forecast period. Hence, disc air brake market is alsexpected tlead the Air Brake System Market growth.
The major companies profiled in the report include Aventics, Federal-Mogul, Fort Garry Industries, Fritec, Haldex, Knorr-Bremse, Kongsberg, Mahle Aftermarket, Meritor, Nabtesco, and Sealco. These players have adopted different strategies such as expansion and new product development tgain significant Air Brake System Market share.
The air brake system market is segmented on the basis of component, brake type, vehicle type, rolling stock type, and region. By component, it is categorized intcompressor, governor, storage tank, air dryer, foot valve, brake chamber, and slack adjuster. Based on brake type, it is bifurcated intair disc and air drum. By vehicle type, it is categorized inttruck and bus. On the basis of rolling stock type, it is categorized intDiesel Locomotive, DMU, EMU, Metros, Passenger Coaches, and Freight Wagon. By region, it is analyzed for Asia-Pacific, Europe, North America, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the Air Brake System Market with current trends and future estimations tdepict the imminent investment pockets.
- The overall market potential is determined tunderstand the profitable trends tgain a stronger foothold in Air Brake System industry.
- The report presents information related tkey drivers, restraints, and opportunities with a detailed impact analysis.
- The Air Brake System Market is quantitatively analyzed from 2019 t2026 tbenchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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KEY MARKET SEGMENTS
- Storage tank
- Air dryer
- Foot valve
- Brake chamber
- Slack adjuster
By Brake Type
- Air Disc
- Air Drum
By Rolling Stock Type
- Diesel Locomotive
- Passenger Coaches
- Freight Wagon
By Vehicle Type
KEY MARKET PLAYERS PROFILED
- Fort Garry Industries
- Mahle Aftermarket
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