The market for air brake systems is driven by several factors, including the need for improved safety and performance in vehicles, the increasing demand for heavy duty and commercial vehicles, and the stringent emission regulations being implemented in many countries. Air brakes have several advantages over traditional mechanical brakes, including shorter stopping distances, reduced wear on brake components, and improved fade resistance. These factors make air brakes an attractive option for many commercial and heavy duty applications. Stringent emission regulations are also playing a role in the growth of the air brake system market. Many countries are implementing strict emissions standards for vehicles, which is leading to an increased demand for air brakes, as they are more efficient at dissipating heat and reducing emissions.
The Market for air brake systems is anticipated to grow owing to the need for better braking systems in vehicles. Air brakes are more efficient than hydraulic brakes and offer superior stopping power. However, they are also more expensive and require more maintenance. The main reason for the growth of air brake systems market is the ever-increasing road accidents happening all over the world. The second most important factor which is acting as a driver for this market is the enactment of stringent norms and regulations by various governments regarding vehicle safety.
Air brakes are used in heavy vehicles such as trucks and buses, and they work by using compressed air to stop the vehicle. Air brakes are more reliable than other types of brakes, and they provide better stopping power. Air brakes also last longer than other types of brakes, and they require less maintenance.
An air brake or, more formally, a pneumatic brake is a type of braking system for vehicles in which compressed air applies the force to the brakes. A traditional mechanical brake uses a cable connected to a lever or pedal to apply the force, but an air brake uses compressed air. The main advantage of an air brake is that it magnifies the force applied by the driver and provides braking power even if the engine fails. Air brakes are used on heavy-duty trucks and trailers, buses, and some trains. They are also used on some light trucks and vans. Many modern cars and motorcycles also have air brakes, although they are not as common as they once were. Air brakes are more complex than mechanical brakes and require more maintenance.
The air brake system market is expected to reach USD 8.03 Billion by 2031 from USD 5.32 Billion in 2018, at a CAGR of 4.6%.
The increase in demand for air brakes for passenger cars and the stringent government regulations regarding vehicle safety are playing a major role in driving the growth of the air brake system market. However, the high cost of air brakes is restraining the growth of this market to some extent.
There are several restraining factors of the air brake system market. The high initial investment cost for setting up an air brake system is a major restraint for the market growth. In addition, the maintenance cost associated with air brake systems is relatively high when compared with other braking systems. This factor is expected to hamper market growth over the forecast period. Moreover, operator training and license requirements are also some of the key restraining factors for this market. However, increasing demand is expected to boost the market.
Some of the key players in this market are Knorr-Bremse AG (Germany), Wabco Holdings Inc (Belgium), Continental AG (Germany), Haldex AB (Sweden), Meritor Inc (US), WABCO Vehicle Control Systems (Belgium), Robert Bosch GmbH (Germany), SAF-Holland SA (Netherlands), Kamaz PJSC (Russia),ASHOK LEYLAND LIMITED(India).
Air Brake System Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | USD 8.03 Billion |
| Growth Rate | CAGR of 8.9% during 2021-2031 |
| Segment Covered | Type, Application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Knorr-Bremse AG (Germany), Wabco Holdings Inc (Belgium), Continental AG (Germany), Haldex AB (Sweden), Meritor Inc (US), WABCO Vehicle Control Systems (Belgium), Robert Bosch GmbH (Germany), SAF-Holland SA (Netherlands), Kamaz PJSC (Russia),ASHOK LEYLAND LIMITED(India). |
Segment Analysis
The Air Disc Brake Segment to be on top of the market
The air disc brake segment is projected to grow at the highest CAGR during the forecast period. Air disc brakes are increasingly adopted in heavy trucks and trailers due to their greater stopping power and shorter braking distances as compared to air drum brakes. The rising demand for safer vehicles, stringent emission norms, and the need for fuel-efficient vehicles are some of the factors expected to drive the growth of this segment during the forecast period.
Asia Pacific to dominate the market
The Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of this region can be attributed to the growing demand for air brake systems from countries such as China, India, and Japan. Additionally, the increasing production of vehicles in this region is also fuelling the growth of air brake system market. The North American air brake system market is projected to grow at a significant rate during the forecast period owing to government regulations regarding vehicle safety and emission standards. Moreover, the presence of key players in this region is also driving the growth of air brake system market in North America.
Covid-19 Impact & Market Status
The outbreak of COVID-19 has had a significant impact on the air brake system market. The demand for air brake systems has declined due to the decrease in production of vehicles and suspension of transportation activities. The market is expected to recover in the forecast period as the automotive industry gradually resumes operations.
Latest Innovations in the Global Air Brake System Market: A Snapshot
• In 2019, Amgen launched a new product 'Evenity' in the US.
• In 2019, Pfizer Inc. completed the acquisition of Array BioPharma Inc.
• In 2020, Sanofi and Regeneron Pharmaceuticals Inc. launched Kevzara (sarilumab) for the treatment of adults with moderately to severely active rheumatoid arthritis.
• In 2020, Mayne Pharma Group Limited acquired AstraZeneca’s global rights to develop and commercialize Entocort EC (budesonide).
Key Segment of Global Brake System Market
By Type Overview 2021-2031, (USD Billion)
• Air Disc Brake
• Air Drum Brake
By Application Overview 2021-2031, (USD Billion)
• Heavy Trucks and Trailers
• Buses
• Others
By Region Overview 2021-2031, (USD Billion)
North America
• USA
• Canada
Asia Pacific
• China
• India
• Japan
• Rest of Asia Pacific
South America
• Mexico
• Brazil
• Rest of North America
Europe
• Germany
• France
• UK
• Rest of Europe
Middle East and Africa
Frequently Asked Questions (FAQ) :
The global Air Brake System market size is expected to reach USD 8.03 Billion in 2031.