The global air brake system market size was valued at USD 3.1 billion in 2023 and is expected to reach USD 3.4 billion by 2028, at a CAGR of 2.2% during the forecast period 2023-2028. The air brake system market is expected to grow due to several factors. These include the rising demand for heavy commercial vehicles, the expansion of railways, increased long-haul transportation, and upcoming safety-related regulatory requirements. These factors will contribute to the increased adoption of air disc brakes in developed and developing countries.
Market Dynamics
DRIVER: Increase in sales and production of commercial trucks and buses.
The air brake system market relies heavily on producing and selling heavy commercial vehicles and off-highway trucks, as they use air brakes for their fail-proof mechanism. The global production of commercial vehicles has significantly increased in recent years due to population growth, urbanization, and increased infrastructural spending worldwide. The demand for heavy trucks and buses has also risen, especially after 2020, driven by e-commerce growth and the recovery of the travel and tourism industry. This has led to a greater need for efficient transportation systems to meet the rising demands for goods and passenger transport, resulting in increased usage of air brake systems. As global heavy vehicle manufacturers adapt to these changes, ongoing investments in heavy trucks and buses will be crucial to sustain the high demand. The strong demand for these vehicles and the global economic recovery are expected to drive the market.
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OPPORTUNITIES: Regulations on load-carrying capacity and mandates on installing air brakes.
Countries such as India increased their per axle load capacity by 20–25% in 2018. The increase in the load per axle has increased the demand for high-power brakes in the commercial vehicle segment in India. Due to increased weight per axle, many medium commercial vehicles have witnessed increased regulated load-carrying capacity per vehicle. For instance, the vehicles used to carry loads up to 6 tons can now carry weight up to 7.5 ton. According to MarketsandMarkets analysis, the installation rate of the air brake system is between 80 to 90% in the 7-to-14.9-ton GVWR segment.
Additionally, vehicles with 6-to-6.5-ton GVWR will be included in the 7 to 14.9-ton segment. Due to the axle load mandates, many LCVs will be pushed to the MHCV segment providing a potential market for the air brake system. Additionally, the 80–90% of air brake installation rate is estimated to increase to 90–95% in the coming time because of the mandates. Due to this, the demand for air brakes is expected from the medium-heavy trucks market. The higher axle loads improve transport efficiency, which will also increase safety concerns, which need to be addressed. Hence, it will increase the overall installation rate of the air brake system in medium-heavy commercial vehicles.
Drum Air Brakes are estimated to be the largest market during the forecast period.
By Brake Type, Drum air brake holds the largest market share in the global air brake system market, whereas disc air brake is expected to grow fastest during the forecast period. Drum brakes in commercial vehicles primarily comprise brake drums, brake shoes, and linings. The drum brakes are the oldest braking mechanism, with a maximum adoption rate in Asia Pacific and North America owing to the comparatively lower cost than air disc brakes. In the present scenario, the Asia Pacific and North America have an adoption rate of 85–90% and 80–85% for drum brakes in heavy-duty vehicles. Moreover, the market is shifting toward deploying air disc brakes with a rising focus on safety and growing demand for high-loading carrying capacity trucks in developed regions such as Europe and North America. Europe is a prominent market for air disc brakes currently, and simultaneously the countries of North America and Asia Pacific are significantly adopting the deployment of air disc brakes. Thus, increasing stringency in vehicle-stopping distance-related regulations and introducing advanced braking mechanisms worldwide would impact the growth of air drum brakes in the coming years.
“Asia Pacific to be the largest market for air brake systems during the forecast period.”
Asia Pacific will lead the air brake system market during the forecast period. The Asia Pacific produced around 64% of global commercial vehicle production in 2022. Asia Pacific has emerged as a hub for automotive production in recent years owing to the increasing population and urbanization in the region. According to OICA, Asia Pacific accounted for ~60% of the global truck production in 2022 due to OEMs such as Zheng Zou Yutong, Xiamen Kinglong Motor, Tata Motors, and Ashok Leyland. Manufacturers in this region are focused on developing specific solutions that address the challenging driving and braking situations drivers face on the roads. As consumers in the region are showing an increased inclination toward safety awareness, the region has witnessed higher growth than the matured markets of Europe and North America. As most of the heavy commercial vehicles above the GVWR of 7 ton are equipped with air brakes, Asia Pacific is estimated to be the largest market.
Key Market Players & Startups
The air brake system market is dominated by players such as Knorr- Bremse AG (Germany), Meritor, Inc. (US), Haldex (Sweden), ZF Friedrichshafen AG (Germany), Wabtec Corporation (US), Nabtesco Corporation (Japan), TSE Brakes Inc. (Germany), Federal-Mogul (US), and SORL Auto Parts (China).
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