Wilmington, Delaware, United States, Transparency Market Research, Inc., Oct. 08, 2024 (GLOBE NEWSWIRE) -- The global air brake system market (Markt für Druckluftbremssysteme) was projected to attain US$ 4.2 billion in 2023. It is likely to garner a 3.2% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 5.9 billion.
Instead of employing hydraulic fluid, compressed air is used in air brake systems. It may be a combination of both disc and drum brakes. Parking brake release and service brake application both require air pressure.
By releasing the pressure in the chamber due to spring force, this brake then engages with the parking brake section of the spring brake chamber. The parking brake can also be employed as an emergency braking mechanism thanks to this capability.
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The majority of heavy-duty and commercial vehicles use air brake systems because of their accuracy, which lowers the number of traffic accidents. For high-speed trains, the installation of an air brake system is also recommended in order to effectively control air pressure and provide passengers with a smooth and safe ride.
Key Findings of the Market Report
- Over the course of the previous five years, the production of high-speed trains has doubled, and this trend is anticipated to continue throughout the projection period.
- This is because high-speed trains provide a faster, safer, and more pleasant travel experience. But the energy required to power these trains is significant, and if the brake system fails, it may be disastrous.
- Many high-speed train manufacturers prefer the air brake system, also known as the pneumatic brake system, to guarantee the comfort and safety of their passengers during travel.
Market Trends for Air Brake System
- The increasing urbanization and transportation needs are driving up the need for off-highway trucks and commercial vehicles.
- As a result, manufacturers all over the world have developed air brakes, ensuring both safety and extended life. The European Automobile Manufacturers' Association estimates that 16.7 million vans, lorries, and buses are produced annually globally.
- Commercial vehicle manufacturers like air-assisted brakes because of the dependability it offers. Additional benefits of air brake mechanisms for different types of multi-trailer trucks include an infinite supply of air, which facilitates the smooth operation of the brake system (because operating fluid exhaustion is not an issue).
Global Market for Air Brake System: Regional Outlook
- In 2023, Asia Pacific accounted for the highest share of the air brake system market (Markt für Druckluftbremssysteme), a situation that is anticipated to be true for the duration of the forecast. This is explained by the region's recent emergence as one of the car manufacturing industry's centers.
- The Organisation Internationale des Constructeurs d'Automobiles (OICA) reports that over 55% of trucks produced globally are produced in Asia Pacific. This is because companies like Ashok Leyland, Tata Motors, Xiamen King Long Motor, and Zhenghou Yutong concentrate on developing unique solutions to deal with the everyday braking and driving situations that drivers encounter.
- Due to the increased utility of commercial vehicles and the subsequent rise of the freight transportation sector, North America and Europe are anticipated to witness consistent growth in the air brake system market. Furthermore, the growing e-Commerce industry is fueling the need for heavy-duty and long-haul vehicles that perform better when equipped with air brake systems.
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Global Air Brake System Market: Key Players
Manufacturers in the air brake system industry are choosing inorganic development strategies to bolster their market share in the brake air system industry.
For example, ZF and Navistar signed a deal in March 2021 for ZF to provide 100 Navistar international trucks with MAXXUS L2.0 air disc brakes. In order to connect with Chinese clients, Haldex and the FAST Group inked a contract in April 2021.
To get a larger footing, major players in the air brake system market are also launching new or updated products and services. The following companies are well-known participants in the global air brake system market:
- Aventics GmbH
- Brakes India
- Federal-Mogul Corporation
- Fort Garry Industries
- Haldex
- Knorr-Bremse AG
- Knott Brake Co
- Kongsberg
- Mahle Group
- MEI Brakes
- Meritor Inc.
- Metelli Group
- Nabtesco Corporation
- Sealco Commercial Vehicle Products
- SilverbackHD
- SORL Auto Parts, Inc.
- Tata AutoComp Systems Limited
- TSE Brakes Inc.
- Wabtec Corporation
- ZF Friedrichshafen AG
Key developments by the players in this market are:
- Mando Corporation unveiled the idea of "Freedom in Mobility" in January 2021. It consists of an integrated module of "x-by-Wire" technology, which connects the company's electric hyper-connectivity-based BbW (Brake-by-Wire) and SbW (Steer-by-Wire) systems.
- To ensure that Meritor EX+ LS air disc brakes (ADB) are standard on Freightliner Cascadia truck models by 2025, Meritor, Inc. and Daimler Trucks North America (DTNA) announced in November 2020 that their cooperation will be extended.
Global Air Brake System Market Segmentation
Component
- Compressor
- Governor
- Storage Tank
- Air Dryer
- Foot Valve
- Brake Chamber
- Slack Adjuster
- Others
Brake Type
- Air Drum Brake
- Air Disc Brake
Material
- Metal
- Organic
- Ceramic
Vehicle Type
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Integrated Truck
- Semi-trailer
- Refrigerated Trailer
- Flatbed Trailer
- Dry Van
- Curtain Trailer
- Tankers
- Others (Dump Trailer, etc.)
- Buses and Coaches
Application
- OEMs
- Aftermarket
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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