Air Brake Systems Market Top Companies, Business Growth & Investment Opportunities, Share and Forecasts 2023-2035

Bysham ambhore

Research Nester’s recent market research analysis on “Air Brake Systems Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global air brake systems market in terms of market segmentation by type, technology, component, vehicle type, and by region.

Growing Cases of Road Accidents Fatalities to Promote Global Market Share of Air Brake Systems

The global air brake systems market is estimated to grow majorly on account of the rising government initiatives to reduce vehicle crashes and improve the braking system is expected to augment the market growth. The breaks are meant to reduce accidents and vehicle damage by preventing collisions between two vehicles. Air brakes are used to prevent collisions between trucks, railroads, and buses.  According to WHO statistics, around 1.35 million people die each year as a result of road accidents. According to Eurostat data, around 18 800 individuals were killed in road accidents in the EU in 2020, with 44.2% being passenger car drivers or passengers and 19.2% being pedestrians. Furthermore, 85 people died in traffic accidents in Romania in 2020. Moreover, the European Commission introduced the new Vehicle General Safety Regulation in order to enhance automotive and road safety. The regulations took effect in July 2022 and will remain in place until July 2024. Among the general safety rules are automated braking, lane-keeping systems, speed assistance, and reversing detection using cameras and sensors.

Besides this, the growth of the air brake systems market is expected on the account of growing sales of vehicles, including passenger vehicles and commercial vehicles. Zero-emission bus deployment in the United States is predicted to expand by around 27% by 2021, reaching over 3,500 buses. More than 70% of fleets in the United States have ten or fewer full-size ZEBs. As a result, the impending investment in fleet scaling will be important. In addition to this, global SUV sales increased by about 3% between 2021 and 2022. Furthermore, SUVs will account for nearly 46% of worldwide car sales in 2022, with the fastest growth in India, Europe, and the United States.

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Some of the major growth factors and challenges that are associated with the growth of the global air brake systems market are:

Growth Drivers:

  • Surge in Global Automotive Sales
  • Rising Initiatives to Advance the Braking System to Avoid Vehicle Crashes

Challenges:

There are some specialized ways to use the air brake system, although the lack of enough knowledge makes it difficult to operate. Moreover, there are a variety of alternatives for air brake systems than can be used in vehicles. Hence, these are some of the major factors anticipated to hamper the global market size of air brake systems. On the other hand, the need for frequent maintenance and the high cost of upkeep is also expected to impede the market growth. Repairing an air brake system may be more expensive than repairing a hydraulic brake system since they have more components. Air-brake systems compress the air, resulting in moisture that must be removed by air dryers. This increases the cost of air-brake systems and can result in higher maintenance and repair costs, especially in the first five years.

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By vehicle type, the global air brake systems market is segmented into bus, truck, and rolling stock. The bus segment is anticipated to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The rise in the distribution of buses can be related to the segment’s growth. The government of India deployed 2435 e-buses across various states and union territories as part of Phase II of the FAME India Scheme. Furthermore, approximately 1,200 electric school buses were either on order, delivered, or in service as of September 2022. The United States presently has approximately 13,000 committed electric school buses. The compressed air braking system is a type of friction brake that is commonly found on large vehicles such as buses. Owing to the large size of the buses, they take a lot of effort to stop. To bring the bus to a complete stop with a hydraulic system, the driver needs to apply greater effort to the brake pedal which nearly impossible with any other brake system.

By region, the Asia Pacific air brake systems market is to generate the highest revenue by the end of 2035. The market’s expansion can be expected mostly to increase government measures to improve braking systems and maintain vehicle security. According to India’s Ministry of Road Transport and Highways, heavy vehicles must now have modern braking systems. Furthermore, existing vehicles will be required to accept the new standards starting in April 2021, followed by all new vehicles starting in April 2022. Furthermore, increased car sales in the region are likely to boost the market growth in Asia Pacific. China’s auto sales will climb 9.5% by 2022, with electric vehicle purchases nearly doubling. Furthermore, in 2021, around 56 million passenger cars will be sold in China. In addition to this, in 2022 the sales of car in Japan was around 4 million and the sales exceeded in India and reached nearly 5 million new cars.

This report also provides the existing competitive scenario of some of the key players of the global air brake systems market which includes company profiling of Aisin Corporation, Haldex Group, Continental AG, Brembo S.p.A., EBC Brakes, Knorr-Bremse AG, Nissin Kogyo Co., Ltd., Robert Bosch GmbH, ZF Friedrichshafen AG, and Accuride Corporation

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