Air Brake System Market Estimated to Reach $5.2 Billion by 2026

Air Brake System Market Estimated to Reach $5.2 Billion by 2026

“Air Brake System Market”
Increasing Adoption of Air Brake or Air Compressor Brake Solutions in Medium to Heavy Duty Vehicles Is One of the Major Driving Factor That Is Expected To Drive the Automotive Air Brake System Market

Global Air Brake System Market is estimated to reach $5.2 billion by 2026, after growing at a CAGR of 3.6% during the forecast period 2021-2026. Increasing adoption of air brake or air compressor brake solutions in medium to heavy duty vehicles is one of the major driving factor that is expected to drive the automotive air brake system market. Currently, hydraulic braking system which is extensively used in vehicles can impact a safety related issue, as these hydraulic brakes are not capable of generating enough power to offer safety to the medium and heavy vehicle while vehicles are in motion. Increasing vehicle production across the globe from various vehicle manufactures is expected to drive the growth of air brake drum industry outlook during the forecast period.

Air Brake System Market Segment Analysis – By Type of Components

Air dryer component segment is expected to have a largest market share in the air brake system outlook by 2026. This segment is estimated to grow at a CAGR of 4.0% during the forecast period. Increasing preference for lightweight brake components is expected to drive the growth of the market in the forecast period. Automotive OEMs are investing more amount of money in the research and developments to innovate new air brake drum systems and increase the existing vehicle efficiency.

Air Brake System Market Segment Analysis – By Vehicle Type

By vehicle type by the market has been classified in to four different parts including Rigid Body Truck, Heavy-Duty truck, Semi-trailer, and Bus. The semitrailer market is set to grow at the fastest rate of 6.7% through 2026. Increasing adoption of air brake systems for heavy-duty trucks and semi-trailer is increasing rapidly offering safety and reliable features to the driver. This market works efficiently even with minor leaks, that is not possible in case of liquid brake system. Most of the heavy truck and extra heavy truck manufactures have offered optional air operated disc brake system. Air brake system includes a variety of features to improve braking control and ensure backups for safety, some of the feature includes service brakes, parking brakes, control pedal, air storage tank, air compressors, air pressure gauge, and wig wag device. These air brake are more suitable for the heavy and semi-trailers as the reliable braking-air brakes uses atmospheric air that never runs out, rather than fluid which can leak. Air brake systems are also easy to remove and attached, and remain effective even if there is an air leak. These are the some of the advanced features offered by the air brake system that is expected to drive the market in the long term.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=505724

Report Price: $ 4500 (Single User License)

Air Brake System Market Segment Analysis – By Geography

APAC region dominated the global air brake system market with a share of more than 32% in 2020, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the automotive industries According to OICA, APAC automotive sales witnessed a growth of over 6.5% during 2012-2019, with South East Asian countries having huge potential to grow.

Air Brake System Market Drivers

Safety is one of the major driving factor for advanced vehicles

In the moving vehicle, once the brake pedal is pressed the pressure is applied to the frictional components near the wheels which then press against each other’s to stop the vehicle. This traditional braking system has some drawbacks, if there is a leak in the braking system which results in partial or complete loss of the braking fluid, the efficiency of the brake drum is significantly reduce or it will completely loss. Air compressor brake systems resolve this traditional issue by offering air by offering special fluid to deliver pressure to the braking components. This air braking system reduce the chance of brake failure due to the avoidance of leaks in the braking system. Nowadays use of air brake system is being made mandatory under many governmental regulation for vehicles exceeding a certain size or carrying passengers for commercial purpose

Reliability of Air braking systems as compared to hydraulic brakes

Air brake systems operates in a different principle with triple valve systems mechanism. In a conventional braking system, the brake is always kept in its own position by default and the brake is applied when brake fluid is compressed. Triple valve system air brake helps activation of brake which is activated state by default and brake released when the vehicle moves in to motion. As a result if there is a leak or even if the compression mechanism totally fails, the brake revert back to their default activated position and the vehicle will stop moving. So in the vehicle system air brake system plays an important role for reliability of the vehicle safety concern.

Air Brake System Market Challenges

Expensive and Excessive Air leakage rate

Higher cost is one of the major concern for air brake system, however this system doesn’t make much difference in small vehicle that requires small hydraulic braking system. On the other hand, cost parameter is a significant factor for large vehicle including heavy duty trucks, semi-trailer and buses, where air brake systems lose out to traditional brake systems. Excessive air leakage rate is another concern for air brake system. Air system loses pressure at a high rate, which lends importance to the rate at which the system builds pressure. A reservoir that losses pressure too quickly not only put strains on the compressor as the same time it can also leave without adequate stopping power when it require the most power. This situation create a large air leakage rate when air brake systems are applied in the vehicle. Leakage rate more than 2 psi/minute indicates that manufactures are likely to give more attention to resolve this current challenge.

Air Brake System Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the air brake system market. In 2020, the market of air brake system has been fragmented by the top five players accounting for 34% of the share. Major players in the air brake system market are, Knorr-Bremse, Wabco, Meritor, Wabtec, Nabtesco, TSE Brakes, Federal-Mogul, Silverbackhd, Mahle Aftermarket, Tata Autocomp, and among others.

Acquisitions/Technology Launches

In June 2019, Wabco is planning to acquire ZF Friedrichshafen AG, which is a privately held system supplier and global technology companies offers various technology solutions to the passenger cars, and commercial vehicles. The aim of this merger will expected to offer new technology for commercial vehicle safety and efficiency for active air suspension system and air brake system.

In March 2019, New York Air Brake LLC, has announced the acquisition of Snyder Equipment Company. Snyder is a leading manufacturer of locomotive service and fueling equipment’s. The acquisition will help Air Brake LLC to make a better strategy plan to diversify and expand its current capabilities and strong geographical reach.

Key Takeaways

Asia-Pacific dominates the air brake system market owing to increasing demand from Heavy duty truck vehicle segment.

With rising focus towards safety and increasing demand of medium to high loading capacity mostly demanding from regions including North America and Asia-pacific region penetrate the growth of the market across the globe.

Automotive OEMs have been continuously focusing on improving vehicle efficiency that has resulted in the growth of weight reduction measures of the vehicle. This includes displacement of high volume and weight hydraulic systems in vehicles.

Related Reports :

Air Compressor Market

https://www.industryarc.com/Report/16301/air-compressor-market.html

Brake System Market

https://www.industryarc.com/Research/Brake-System-Market-Research-501082

For more Automotive Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

 

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/