Air Brake System - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global Air Brake System Market is accounted for $3.96 billion in 2017 and is expected to reach $6.23 billion by 2026 growing at a CAGR of 5.2% during the forecast period. Growing population around the globe, increasing demand for heavy-duty trucks, rising number of railways and high growth in urbanization are some of the key factors fuelling the market growth. However, factors such as high cost and rising focus on electric trucks and buses are hindering the market growth.
Air brake systems are classically used on heavy vehicles such as trucks and buses. The air compressor is driven by the machine either by crankshaft crane via a belt or straight from the engine timing gears. The supply structure compresses, stores and provisions high-pressure air to the control structure as well as to additional air operated supplementary truck systems. The supply of air is limitless, so the brake system can never run out of its functioning fluid, as hydraulic brakes can.
By component, storage tank segment is expected to have a significant growth during the forecast period. Air storage tanks are used to hold compressed air. The number and size of air tanks varies among vehicles. The tanks hold enough air to allow the brakes to be used several times, even if the compressor stops working. Based on geography, Asia Pacific holds the largest market share during the forecast period owning to rising population and urbanization and consumers shifting focus towards vehicle safety.
Some of the key players profiled in the Air Brake System Market include Aventics, Federal-Mogul, Fort Garry Industries, Fritec, Haldex, Knorr-Bremse, Kongsberg, Mahle Aftermarket, Meritor, Nabtesco, Sealco, Silverbackhd, Sorl Auto Parts, TSE Brakes, Wabco, Wabtec, ZF, Tata Autocomp and MEI Brakes.
• Air Dryer
• Brake Chamber
• Foot Valve
• Slake Adjuster
• Storage Tank
Brake Types Covered:
• Air Disc Brake
• Air Drum Brake
• Heavy Commercial Vehicles (HCVs)
• Light Commercial Vehicles (LCVs)
• Passenger Cars
- North America
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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- Market share assessments for the regional and country level segments
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- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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