A vehicle equipped with an air brake, also known as a compressed air brake system, applies compressed air to a piston, applying additional pressure to the brake pads and bringing the vehicle to a stop. Apart from being utilised in railroad trains, air brakes are also employed in large, heavy vehicles, especially in trucks, buses, trailers, and semi-trailers, which have to be connected to the brake system.
According to SPER market research, ‘Air Brake System Market Size- By Type, By Component, By Technology, By Vehicle Type, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Air Brake System Market is predicted to reach USD 7.01 billion by 2033 with a CAGR of 5.97%.
The market for air brake systems is expanding steadily since they are essential to maintaining control and safety in heavy-duty vehicles. The market is influenced by things like new technology, safety laws, and the expansion of the commercial vehicle sector. Opportunities exist in growing into emerging areas, working with important stakeholders, and integrating intelligent systems, despite obstacles like high costs and technological complexity.
The market for air brake systems is expected to grow significantly in the next years due to the increased emphasis on vehicle safety and the introduction of cutting-edge braking technologies. To stay competitive and take advantage of the opportunities given by this expanding market, industry players and stakeholders must embrace technology improvements, adjust to shifting market trends, and fortify their distribution networks.
However, there are certain limitations and challenges that will prevent the market from growing as a whole. Because the architecture of an air brake system and hydraulic brakes differs, components like brakes that are utilised in automobiles to maintain vehicle safety are thought to be more expensive than hydraulic brakes. Also, replacing air brake-related equipment like compressors, diaphragms, and other parts is more expensive.
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Like many other businesses, the air brake system market had difficulties and disruptions as a result of the COVID-19 epidemic. The pandemic reduced car sales and production, which had an impact on the market for air braking systems. But the market has shown resilient, and as the car sector progressively recovers, recovery is anticipated. The epidemic also brought attention to the significance of safety features, such as air braking systems, which prompted stricter laws and regulations pertaining to vehicle safety. It is anticipated that the post-pandemic market for air brake systems will be driven by this newfound emphasis on safety.
Asia-Pacific is anticipated to hold a dominant position in the global market for air brake systems because of the region's high vehicle production and manufacturer presence.
North America's significant growth is expected because of the region's technical breakthroughs. Furthermore, it is anticipated that the growing semiconductor industry and the widespread use of electric vehicles would accelerate the sector's growth during the projection period.
Additionally, some of the market key players are Meritor, Inc., Nabtesco Automotive Corporation, SORL Auto Parts, Inc., Tenneco Inc., TSE Brakes Inc., WABCO, Wabtec Corporation, ZF Friedrichshafen AG, Others.
Air Brake System Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Type: Based on the Type, Global Air Brake System Market is segmented as; Air Disc Brake, Air Drum Brake.
By Component: Based on the Component, Global Air Brake System Market is segmented as; Air Dryer, Brake Chamber, Foot Valve, Governor, Slack Adjuster, Tank, Others.
By Technology: Based on the Technology, Global Air Brake System Market is segmented as; Anti-Lock Braking System (ABS), Electronic Brake Force Distribution (EBD), Electronic Stability Program or Electronic Stability Control (ESC), Traction Control System (TCS).
By Vehicle Type: Based on the Vehicle Type, Global Air Brake System Market is segmented as; Bus, Heavy-Duty Truck, Rigid Body Truck, Rolling Stock, Semi-Trailer.
By Application: Based on the Application, Global Air Brake System Market is segmented as; Electronically Controlled Pneumatic (ECP), Locomotive Electro-Pneumatic(EP), Off-Road Vehicle, On-Road, Rolling Stock, Others.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Air Brake System Market outlook
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The Air Brake System Market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The report also covers detailed competitive landscape including company profiles of key players operating in the global market.
The key players in the air brake system market include Federal-Mogul Corporation, Haldex, Knorr-Bremse, Meritor, Sorl Auto Parts, TSE Brakes, WABCO and 0Wabtec Corporation among others.
An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.Get more information on "Global Air Brake System Market Research Report" by requesting FREE Sample Copy athttps://www.valuemarketresearch.com/contact/air-brake-system-market/download-sampleMarket DynamicsThe market is growing at a significant pace on account of rise in sales of heavy and off road vehicles.
Booming logistics sector and growing demand of heavy vehicles across mining, agriculture and construction sector is also boosting the market growth.
Ongoing developments by the major players along with stringent safety standard are further contributing the growth of this market.
Global air brake components market is expected to grow at a steady CAGR of 4.3% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).
The global air brake system market is mainly driven by the growing demand for air brakes in commercial vehicles and the growing production of commercial vehicles around the world.
The MRFR report provides a detailed insight into the major drivers and restraints affecting the global air brake system market’s growth, the leading players operating in the market, and the major segments likely to dominate the market in the coming years.Air brake systems are braking systems that use compressed air to stop the vehicle, in contrast to hydraulic braking.
Due to this, air brake systems are mostly used in commercial vehicles, whereas hydraulic braking systems are preferred in smaller, passenger vehicles.The growing demand for commercial vehicles in developing countries around the world is likely to be a major driver for the global air brake systems market over the forecast period.
The increasing demand for infrastructure expansion, including roadbuilding, in countries such as India, China, Indonesia, and the Philippines has driven the demand for commercial vehicles.
On the other hand, the high manufacturing costs of air brake systems could lead to a growing demand for alternative braking systems such as hydraulic brakes.Competitive Analysis:Leading players in the global air brake system market include TSE Brakes, Sorl Auto Parts, Federal-Mogul Corporation, Nabtesco, Wabtec Corporation, ZF, Haldex, Meritor, WABCO, and Knorr-Bremse.In March 2019, New York Air Brake opened a new manufacturing center at Summit Corporate Center.
Once the engine oil temperatures were under control the next weak link in the new MINI was the front brakes.
They were undersized and overheated quickly.
Sneed4Speed developed a brake cooler kit that forced air from the front bumper through flexible hoses into proprietary brackets mounted on the wheel hub to blow the air directly into the brake rotor , Racing Shift Knobs, and cool the brake system.
The kit worked very well, reducing peak temperatures by over 500F!
