As of the current year, 2023, the global air brake system market is estimated at US$ 2,108.8 Million. The value of the air brake system market is anticipated to surpass US$ 3,003.5 Million by the year 2033, advancing at a CAGR of 3.6%. A historical market valuation of US$ 2,025.7 Million has been recorded by the analysts of Future Market Insights for the concerned market during the base year. The growth is supported by:
| Report Attribute | Details |
|---|---|
| Air Brake Systems Market Value (2023) | US$ 2,108.8 Million |
| Air Brake Systems Market Anticipated Value (2033) | US$ 3,003.5 Million |
| Air Brake Systems Projected Growth Rate (2023 to 2033) | 3.6% |
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Although the market has healthy growth, it is identified that certain elements prevailing in the market are expected to hinder the pace of advancement. The high cost of air brakes over the implication of hydraulic brakes poses a threat to the industry.
It has been identified that there is a surge in the production of electric vehicles (EVs). Increased focus on electric buses and trucks is anticipated to curb the advancement of the market in the forthcoming years. Furthermore, the airbrakes tend to freeze at extremely low temperatures, impeding the growth of the product.
However, it is also analyzed that new regulations by the government in regard to load-carrying capacity and mandatory installation of air brake systems are likely to create profitable opportunities during the forecast period.
There is a huge demand from the railway industry for air brake systems. The revenue growth of the market is estimated to surge further during the projection period. The rail freight vehicles are getting equipped with air brakes that have twin pipes or single pipes graduated release mechanisms.
The railway industry is heavily using air brake systems because they are very effective and a dependable source of stopping technology for long and big trains that operate at high speed. Compressed air is being used for the brake technology employed, and is a significant factor contributing to the growth of the market.
Principal Consultant
It is identified that the air brake systems market has been witnessing an unprecedented surge in recent years. After an in-depth analysis of the market, it is estimated that there has been an approximate rise of US$ 83.1 Million from the base year to the current. The market accounted for a historical CAGR of 2.0% during the period 2018 to 2022.
The growth of the market can be attributed to stringent standards of safety and higher importance on efficiency. Changing advancements and components are prompting manufacturers in the air brake system market to focus on the development of their brakes. Upsurge in the demand for vehicle safety technologies that include anti-lock braking systems, regenerative braking, electronic stability program, and traction control systems have compelled the OEMs to integrate such technologies in the air brake systems.
Therefore, it is projected that the market has increased at a steady pace and is likely to have significant growth over the forecast period.
Air Drum Brake - By Type
After an in-depth analysis of the air brake systems market, it has been revealed that the air drum brakes segment by product type is likely to hold significant market shares through the forecast period. This segment is likely to move at a steady pace, registering a CAGR of 4.4%. This segment is currently having a market share of 67.5% in 2023.
The factors attributing to the growth of this segment are:
Compressor - By Component Type
The compressor segment by component type is identified to hold significant shares of the air brake systems market through 2033. The segment has been moving ahead of the following component types that include foot valves, slack adjusters, brake chambers, governors, air dryers, and others. The segment is estimated to expand at a CAGR of 5.5% during the estimated study period. The factors making a contribution to the rising shares of this segment in the market are:
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| Country/Region | United States of America |
|---|---|
| Statistics | The USA has emerged as the leading country in the North American region with an 18.5% market share in 2023. |
| Growth Propellants | The factors attributing to the growth of the USA air brake systems market include the manufacture of commercial vehicles. As per the research of FMI, 7.6 million commercial vehicles were manufactured in the base year. As per the USA Department of Transportation, the trucks transported 70.9% of the value of trade between the USA and Canada, which is expected to drive the demand through the forecast period. |
| Country/Region | Europe |
|---|---|
| Statistics | The UK emerged as the leading European country in the air brake systems market. The country is currently having a 4% market share in 2023. |
| Growth Propellants | A growth in end-user demand, coupled with lower time-consuming of brakes is driving the demand for air brake systems in European countries. Higher efficiency and surge in the market size of the railway and automobile industry have turned out to be the most significant factors using the concerned products across Europe. |
| Country/Region | Japan |
|---|---|
| Statistics | Japan is projected to have a considerable rate of expansion in the air brake system market size over the forecast period. At present, the country is holding 5.2% shares of the Asia Pacific market. |
| Growth Propellants | The robust revenue growth across Japan is owing to the rising investment in transportation infrastructure. Demand across Japan to shorten the transit time of freight with rising the average speed for freight trains is bolstering the application of air brake systems and raising the market size in Japan. |
| Country/Region | Korea |
|---|---|
| Statistics | The Korean air brake system market is identified to have substantial growth over the forecast period. |
| Growth Propellants | Industrial robotics and the surge in the implementation of automation processes across Korea are fueling the employment of air brake systems in vehicles. Stringent regulations imposed by the Korean government for automobiles to have suitable hardware with collision avoidance systems are creating lucrative growth prospects for key players in the country. |
Start-ups Add an Edge to the Conventional Models of Air Brake Systems
The new entrants in the air brake systems market are leveraging advancements in technology to launch new products and gain a competitive advantage. These firms are continually investing in research and development activities to keep themselves in tandem with the changing consumer preferences and end-use industry demands. Efforts are being made to strengthen their foothold in the market and aid the further progression of the air brake systems market.
Top Start-ups to Watch For
BERINGER SAS - This start-up firm specializes in high-performance air brakes. The specialty is owing to the innovative solutions designed for cars, quads, and motorcycles. For the racing market, they have a strong presence of highly performing brakes, particularly for motorcycle racing. It is identified that this firm invests more than 10 percent of its total turnovers each year in research and development activities and more than 10 patents for braking technologies.
Brembo - Brembo is an Italy-based automotive brake system manufacturing company for high-performance cars and motorcycles. The company sells over 1,300 products across the world and has a presence in both OEMs and aftermarkets. It is also a prominent brake system supplier to racing events such as F1, MotoGP, and IndyCar series.
Continental - This company is offering products and services to the rubber and automotive industries. Their unique range of product lines is fetching incredible revenue shares and is increasing the prominence of the firm on a global scale.
Biggies Cede a Silver Lining to the Air Brake Systems Market
The air brake systems market is fragmented and the key players are deploying organic and inorganic growth strategies to compete in the market. The biggies are heavily investing in research and development activities to advanced braking systems with efficient compressors for easing the job of autonomous vehicle manufacturers to make automobiles with high speed, backed by high safety.
EBC Brakes is one of the world’s leading brake specialist companies. It supplies products to both the aftermarket and production-based race cars. EBC Brakes produces the largest range of brake pads and brake discs in the world. It supplies brake pads, brake rotors, brake lines, brake kits, and brake shoes and accessories to passenger cars, motorcycles, and commercial vehicles in the automotive market.
Recent Developments
The growth outlook for the air brake system market is predicted to advance at a CAGR of 3.6% from 2023 to 2033.
The North American region is anticipated to lead the air brake system market during the forecast period.
The market valuation of the air brake system market stands at US$ 2,108.8 Million in 2023.
The air brake system market is likely to hold a valuation of US$ 3,003.5 Million by 2033.
The automotive industry sector is the key driver in the air brake system market.
1. Executive Summary | Air Brake Systems Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Technology, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Technology, 2023 to 2033 5.3.1. Traction Control System 5.3.2. Electronic Stability Control 5.3.3. Electronic Brake-force Distribution 5.3.4. Anti-Lock Braking System 5.4. Y-o-Y Growth Trend Analysis By Technology, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Technology, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033 6.3.1. Passenger 6.3.2. Commercial 6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vehicle Type 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Vehicle Type, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Vehicle Type, 2023 to 2033 7.3.1. Heavy-Duty 7.3.2. Rigid Body 7.3.3. Semi-Trailer 7.3.4. Bus 7.4. Y-o-Y Growth Trend Analysis By Vehicle Type, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Vehicle Type, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. Middle East and Africa (MEA) 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. United States of America 9.2.1.2. Canada 9.2.2. By Technology 9.2.3. By Application 9.2.4. By Vehicle Type 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Technology 9.3.3. By Application 9.3.4. By Vehicle Type 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Technology 10.2.3. By Application 10.2.4. By Vehicle Type 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Technology 10.3.3. By Application 10.3.4. By Vehicle Type 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Technology 11.2.3. By Application 11.2.4. By Vehicle Type 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Technology 11.3.3. By Application 11.3.4. By Vehicle Type 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Technology 12.2.3. By Application 12.2.4. By Vehicle Type 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Technology 12.3.3. By Application 12.3.4. By Vehicle Type 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Technology 13.2.3. By Application 13.2.4. By Vehicle Type 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Technology 13.3.3. By Application 13.3.4. By Vehicle Type 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. United States of America 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Technology 14.1.2.2. By Application 14.1.2.3. By Vehicle Type 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Technology 14.2.2.2. By Application 14.2.2.3. By Vehicle Type 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Technology 14.3.2.2. By Application 14.3.2.3. By Vehicle Type 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Technology 14.4.2.2. By Application 14.4.2.3. By Vehicle Type 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Technology 14.5.2.2. By Application 14.5.2.3. By Vehicle Type 14.6.United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Technology 14.6.2.2. By Application 14.6.2.3. By Vehicle Type 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Technology 14.7.2.2. By Application 14.7.2.3. By Vehicle Type 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Technology 14.8.2.2. By Application 14.8.2.3. By Vehicle Type 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Technology 14.9.2.2. By Application 14.9.2.3. By Vehicle Type 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Technology 14.10.2.2. By Application 14.10.2.3. By Vehicle Type 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Technology 14.11.2.2. By Application 14.11.2.3. By Vehicle Type 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Technology 14.12.2.2. By Application 14.12.2.3. By Vehicle Type 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Technology 14.13.2.2. By Application 14.13.2.3. By Vehicle Type 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Technology 14.14.2.2. By Application 14.14.2.3. By Vehicle Type 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Technology 14.15.2.2. By Application 14.15.2.3. By Vehicle Type 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Technology 14.16.2.2. By Application 14.16.2.3. By Vehicle Type 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Technology 14.17.2.2. By Application 14.17.2.3. By Vehicle Type 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Technology 14.18.2.2. By Application 14.18.2.3. By Vehicle Type 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Technology 14.19.2.2. By Application 14.19.2.3. By Vehicle Type 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Technology 14.20.2.2. By Application 14.20.2.3. By Vehicle Type 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Technology 15.3.3. By Application 15.3.4. By Vehicle Type 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Knorr-Bremse 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. WABCO 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Meritor 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Haldex 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. ZF 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Wabtec Corporation 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Nabtesco 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Federal-Mogul Corporation 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Sorl Auto Parts 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. TSE Brakes 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Air Brake Systems Market
