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Jan 18, 2020 12:00 PM ET

Air Brake System Market – Global Forecast to 2025


iCrowd Newswire - Jan 18, 2020

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.

Increasing heavy commercial vehicle demand, increasing number of railways, rising long-haul transportation, and upcoming safety-related regulatory compliances leading to the boost in air disc brakes in developed as well as developing countries are projected to drive the air brake industry.

The key players in the air brake system market are Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), Haldex (Sweden), ZF (Germany), Wabtec (US), and Nabtesco (Japan).

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A drum brake is expected to be the largest contributor in the global market, by brake type, during the forecast period

Drum brakes in commercial vehicles primarily comprise brake drum, brake shoe, and linings. The drum brakes are the oldest braking mechanisms, which have a maximum adoption rate in Asia Oceania and North America owing to the comparatively low cost than air disc brakes. In the present scenario, Asia Oceania and North America have an adoption rate of approximately 85–90% and 80–85% respectively for drum brakes in heavy-duty vehicles. Moreover, with a rising focus toward safety and growing demand for high loading carrying capacity trucks mainly in developed regions such as Europe and North America, the market is shifting toward the deployment of air disc brakes. Europe is a prominent market for air disc brakes currently, and simultaneously the countries of North America and Asia Oceania are significantly adopting the deployment of the air disc brakes. Thus, increasing stringency in vehicle stopping distance-related regulations, and the introduction of advanced braking mechanisms around the world would impact the growth of the air drum brakes in the coming years.

The compressor is anticipated to grow at the highest rate for the period from 2018 to 2025 in this market for rolling stock, by component

With the continuously growing population and urbanization, the demand for convenient and affordable means of transport has also increased significantly. Further, the recent growth in infrastructure spending by developed and developing countries has resulted in an increased demand for high-speed and fast trains. For instance, countries such as Japan, Germany, and the UK plan to connect their key cities with high-speed trains. These high-speed trains and other train types are equipped with air brakes because of their fail-safe mechanisms and lower usage of oil in the actuation system. Hence, rising infrastructural funding would lead to the expansion of railway networks with a higher number of electric and high-speed trains. These factors collectively spur the demand for compressors and other components of the air brake system in the rolling stock segment.

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Brake chamber is estimated to be the largest market for the air brake system during the forecast period.

The brake chamber market is projected to lead the global component market for an on-highway vehicle type in 2018. The number of slaking adjusters is maximum among all the air brake components. Different vehicle types such as rigid body, heavy-duty trucks, semi-trailers, and buses have 6 to 8 units of slaking adjusters per vehicle. Hence, the rise in the production of heavy trucks and buses would directly increase the number of brake chamber units, which, in turn, will drive the demand for brake chambers in the air brake system market.

Asia Oceania expected to account for the largest market size during the forecast period.

The Asia Oceania region is expected to be the largest market for the air brake system during the forecast period owing to its largest heavy commercial vehicle production compared to other regions. China is the leading air brake system owing to the higher production of heavy-duty trucks across all heavy trucks type. Also, rising industrialization and urbanization in developing countries such as China and India along with rising awareness for vehicle and driver safety would fuel the demand for the Asia Oceania air brake system market.

Recent Developments:

• In August 2018, Knorr-Bremse introduced 2 new disc brakes, ‘SYNACT and NEXTT”, for future generations of heavy-duty commercial vehicles. Compared to its predecessor, SYNACT attains new dimensions of performance and weight. With a stronger but lighter caliper and smooth-running internal mechanics, the full braking torque of 30 km remains available even during prolonged braking maneuvers.

• In September 2018, Wabco established a new joint venture for vehicle control systems with FAW Jiefang Automotive Company to advance the safety and efficiency of commercial vehicles in the Chinese market. Under this joint venture, the companies will start the production of Wabco’s advanced MAXXTM single-piston Air Disc Brake (ADB) from 2019.

• In March 2018, Meritor received a supply contract from Daimler Trucks North America (DTNA) for providing EX+ L air disc brakes. These EX+ L air disc brakes will be standard on all wheel positions for DTNA’s Freightliner new Cascadia model to further enhance safety and performance. The deployment of EX+ L air disc brakes began in the second quarter of 2018. With a standard position on Freightliner Cascadia models, Meritor offers industry-leading warranty coverage of five-year/500,000 miles/parts when specified with Meritor MA761 exclusive friction material.

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