Increase in sales and production of vehicles and rising concerns for safety is expected to drive the demand for global automotive airbrake system market in the forecast period.
According to TechSci Research report, “Automotive Airbrake System Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, the global automotive airbrake system market is expected to witness significant growth for the next five years on account of supply of unlimited air into the vehicle which ensures that brake system never runs out of operating fluid. The air brake system is a type of friction brake system in which pressure is applied on piston by compressed air and applies required pressure to stop the vehicle. Airline couplings in airbrake systems are easier to detach and attach than the hydraulic brakes thereby aiding to the high market demand. Air brakes systems are more effective even with leakage and can be designed with sufficient fail-safe capacity to stop the vehicle even when they are leaking. Air is used as fluid for transportation purpose and stores potential energy when the air is compressed so it controls the applied force. Air brake systems consists of an air tank which can store sufficient energy to stop the vehicle if compressor fails in automobile. Automotive air brakes systems are easy to install in vehicles. Automotive OEMs are focusing on improving the vehicle efficiency and performance by reducing the heavy weight of the automobiles and hydraulic braking system is heavy which requires the replacement of such braking system from the vehicles. Increasing demand for medium and heavy loading capacity is also attributing to high market demand across the globe. Air brake systems operates with triple valve system mechanism which ensures the activation of brake by default and brake is released when the vehicle is in motion. So, in cases of leak or failure of brake it goes back into its original position and stops the vehicle which plays a significant role to avoid the safety concerns in vehicle.
However, increasing demand for electric vehicle and bus and high cost for air brakes over hydraulic brakes may create hindrance in the global automotive airbrake system market growth.
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Global automotive airbrake system market is segmented into vehicle type, component type brake type, region, and company. Based on component type, market is further divided into compressor, governor, storage tank, air dryer, foot valve, brake chamber & slack adjuster, among others. Compressor segment is expected to account for major market share for the forecast period, 2022-2026. Increase in investments to develop infrastructure and growing need for railway network upgradation is majorly driving the high demand for compressor segment. Air dryer component is expected to witness fastest incremental growth due to high demand for light weight components. Based on brake type, market is bifurcated into air drum brake and air disc brake. The air drum brake segment is expected to dominate the automotive airbrake system market in the predicted period owing to strict rules and regulation to ensure safe vehicle stopping mechanism. Introduction of advanced braking systems is accelerating the market growth. Based on vehicle type, market is fragmented into rigid body truck, heavy-duty truck, semi-trailer, and bus. Semi-trailer segment is expected to hold major market share for the forecast period due to increasing adoption of automotive air braking systems for heavy duty and semi-trailer to ensure safety of drivers. Manufacturers also offer additional air operated disc brake system to improve the braking controls and ensure back-ups for safety purpose.
Federal-Mogul, KNORR-BREMSE AG, Meritor, Inc., WABCO, Wabtec Corporation, ZF FRIEDRICHSHAFEN AG, Haldex Inc., TSE Brakes Inc., SORL Auto Parts, Inc, Nabtesco Automotive Corporation are the leading players operating in global automotive airbrake system market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several automotive airbrake system manufacturers are coming up with their technologically advanced offerings.
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“Expansion of the railway network and technological advancement of trains and introduction of high-speed trains is fostering the market demand. Launch of metro rail projects by government authorities to upgrade the transport network is paving the way for the market growth in the upcoming five years. Introduction of automation in railways infrastructure coupled with ever-rising need demand to ensure safety and comfort of passengers is propeling the market demand until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Automotive Airbrake System Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026, Segmented By Vehicle Type (Rigid Body Truck, Heavy-Duty Truck, Semi-Trailer, Bus) By Component Type (Compressor, Governor, Storage Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster and Others) By Brake Type (Air Drum Brake, Air Disc Brake) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global automotive airbrake system market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global automotive airbrake system market.
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