Air Brake System Market worth $5.6 billion by 2025 - PowerPoint PPT Presentation

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Air Brake System Market worth $5.6 billion by 2025

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Air Brake System Market by Type (Disc & Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer & Bus), Region - Global Forecast to 2025 – PowerPoint PPT presentation

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Title: Air Brake System Market worth $5.6 billion by 2025


1
MarketsandMarkets Presents
Air Brake System Market worth 5.6 billion by
2025
2
"Air Brake System Market by Type (Disc Drum),
Component (Compressor, Governor, Tank, Air Dryer,
Foot Valve, Brake Chamber Slack Adjuster),
Rolling Stock, Vehicle Type (Rigid Body,
Heavy-Duty, Semi-Trailer Bus), Region - Global
Forecast to 2025", The air brake system market is
estimated to be USD 4.5 billion in 2018 and is
projected to reach USD 5.6 billion by 2025, at a
CAGR of 3.31 during the forecast period. The
market will be driven primarily because of the
increase in heavy commercial vehicle production.
Owing to the increasing technological
advancements, increasing concerns over safety,
and stringent government mandates to improve
commercial vehicle safety, the demand for air
brake systems is estimated to increase in the
coming years. Additionally, air brakes are safer
than hydraulic brakes owing to multiple fail-safe
measures, hence improving the preference of air
brakes over hydraulic brakes. Browse 106 market
data Tables and 41 Figures spread through 171
Pages and in-depth TOC on "Air Brake System
Market by Type (Disc Drum), Component
(Compressor, Governor, Tank, Air Dryer, Foot
Valve, Brake Chamber Slack Adjuster), Rolling
Stock, Vehicle Type (Rigid Body, Heavy-Duty,
Semi-Trailer Bus), Region - Global Forecast to
2025" https//www.marketsandmarkets.com/Market
-Reports/air-brake-system-market-163805421.html

3

Heavy-duty truck to be the largest market for
air brake systems, by vehicle type Heavy-duty
trucks include commercial vehicles weighing
approximately 15 to 30 ton. According to OICA and
MarketsandMarkets analysis, the production of
heavy-duty trucks accounted for the maximum of
the total truck production for all the regions
including North America, Asia Pacific, the RoW,
and Europe in 2018 and is expected to dominate
during the forecast period. Due to the high load
carrying capacity, nearly all heavy trucks are
equipped with air brake systems. However, the
difference between the air brake system for rigid
trucks and heavy-duty trucks is the capacity and
the number of components. Heavy-duty trucks are
the most preferred type of trucks used by fleet
operators owing to its high weight bearing
capacity and engine power. Additionally, the
growth in developing economies of Asia and the
rest of the world would generate demand for
heavy-duty trucks in the future. Owing to the
abovementioned factors, the heavy-duty truck
segment is estimated to be the largest air brake
system market, by vehicle type. Request
Sample Report _at_ https//www.marketsandmarkets.com/
requestsampleNew.asp?id163805421

4
  • Storage tank is anticipated to be the fastest
    growing component market for on-highway air brake
    system
  • The compressed air generated by the compressor is
    stored in the storage tanks. The storage tank is
    also known as an air reservoir. The number of
    storage tanks depend on the design and
    architecture of the air brake system. The size
    and number of storage tanks may vary from vehicle
    to vehicle. A vehicle with a high GVWR has a
    higher number of storage tanks. For instance, the
    rigid body trucks require 2 to 3 storage tanks,
    while heavy-duty trucks may require 34 storage
    tanks each. The number of tanks is increased to
    ensure safer operations of the air brake system.
    As the engine power of trucks increases resulting
    in a higher average axle count and weight-bearing
    capacity, OEMs and brake system manufacturers
    will have to incorporate more storage tanks to
    their designs in order to ensure fail-safe
    operations of the brake system. Thus, all the
    aforementioned factors make storage tank as the
    fastest growing component market in the
    on-highway air brake system market.
  • Download PDF Brochure _at_ https//www.marketsandmark
    ets.com/pdfdownload.asp?id163805421

5
Asia Oceania expected to be the largest air
brake system market The Asia Oceania region is
the largest air brake system market and is
expected to retain its position during the
forecast period. Asia Oceania 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 Oceania accounted for 70 of the global
truck production in 2018 owing to the presence of
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 faced
by drivers 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 Oceania is
estimated to be the largest air brake system
market. The leading players in the air brake
system market are Knorr-Bremse (Germany), Wabco
(Belgium), Haldex (Sweden), and Meritor (US).
6
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