Air brakes are a type of brake system which use compressed air to stop vehicles. Air brakes are predominantly used for stopping large and heavy vehicles. Air brakes can be used as three different braking systems: service brakes, parking brakes and emergency brakes. Moreover, air brake systems consist of many components, such as air compressor, air compressor governor, air storage tanks, air tank drains, safety valve and the brake pedal. Furthermore, most of the heavy-duty vehicles use the dual air brake systems for safety. A dual air brake system has two separate air brake systems and uses a single set of brake controls. Air brakes can either be a disc or drum, which can be coupled with the ABS (anti-lock braking system) technology to improve the efficiency of the braking system. Usually, air brakes are used in place of conventional hydraulic systems in areas where there is requirement for high mechanical braking force over long distances and simplified connections and components. There are braking systems available in the market space which incorporate both air as well as hydraulic systems for improved braking performance. Furthermore, manufacturers of air brakes are constantly focusing on downsizing air brake systems alongside improving their performance characterizes, this is expected to open new horizons for the augmentation of the air brake market in the coming years.
Passenger air brake market is expected to witness market growth at a CAGR of +3% in the forecast period of 2021 to 2027.
The major players covered in the passenger air brake market are Knorr-Bremse AG, WABCO, Meritor, Inc., Haldex, ZF Friedrichshafen AG, Wabtec Corporation, Nabtesco Automotive Corporation, Tenneco Inc, SORL Auto Parts, Inc., TSE Brakes Inc., UNO Minda., ANAND Group, Fricción y Tecnología, S.A. de C.V., Brakes India Private Limited., Airmaster Brake Systems, Yumak Air Brake Systems, among other domestic and global players.
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Air Brake Market Dynamics
The air brake market is directly dependent on vehicle production across the globe. With increasing vehicle production, the demand for advanced braking systems is expected to ramp up in the coming years. This is expected to promote the growth of the air brake market over the forecast period. Moreover, manufacturers are focusing on introducing advanced technology air brakes coupled with electronic systems, such as ABS and ESC, among others. This is expected to further boost the growth of the air brake market over the coming years.
Furthermore, the air brake market is being affected by stringent government regulations to reduce the stopping distance and curb brake shoe residue. This has forced air brake manufacturers to design brake systems. They are compact in size and have improved performance characteristics which comply with government regulations, this is expected to further create opportunities for the augmentation of the air brake market over the coming years. This factor coupled with increasing preference for automotive safety and the numerous steps taken towards improving it will further increase the demand of improved braking systems across the globe.
Air Brake Market Segmentation
On the basis of brake type, air brake market can be segmented into:
- Disc Brakes
- Drum Brakes
On the basis of Vehicle type, air brake market can be segmented into:
- Passenger Cars
- Light Commercial Vehicle
- Heavy Commercial Vehicle
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- North America (U.S, Canada, Mexico),
- Europe (Germany, UK, France, Italy, Spain, Russia and Others),
- APAC (China, Japan India, South Korea, Australia and Others),
- South America (Brazil, Argentina and others)
- RoW (Middle east and Africa).
The countries covered in the passenger air brake market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America will dominate the passenger air brake market due to the rising production of vehicles in U.S., and Canada while Asia-Pacific will expect to grow in the forecast period of 2021-2027 due to the rising disposable income of the people in India and China along with growing urbanization and industrialisation in the region.
- 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 the 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.
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