Asia-Pacific is to dominate Global Automotive Airbrake System Market till 2026
Increase in sales and
production of vehicles and rising concerns for safety is expected to drive the demand
for global automotive airbrake system market in the forecast period.
According to TechSci Research report, “Automotive
Airbrake System Market - Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2016-2026”, the global automotive airbrake
system market is expected to witness significant growth for the next five years
on account of supply of unlimited air into the vehicle which ensures that brake
system never runs out of operating fluid. The air brake system is a type of
friction brake system in which pressure is applied on piston by compressed air
and applies required pressure to stop the vehicle. Airline couplings in
airbrake systems are easier to detach and attach than the hydraulic brakes
thereby aiding to the high market demand. Air brakes systems are more effective
even with leakage and can be designed with sufficient fail-safe capacity to
stop the vehicle even when they are leaking. Air is used as fluid for
transportation purpose and stores potential energy when the air is compressed
so it controls the applied force. Air brake systems consists of an air tank
which can store sufficient energy to stop the vehicle if compressor fails in
automobile. Automotive air brakes systems are easy to install in vehicles. Automotive OEMs are focusing on improving the
vehicle efficiency and performance by reducing the heavy weight of the automobiles
and hydraulic braking system is heavy which requires the replacement of such
braking system from the vehicles. Increasing demand for medium and heavy
loading capacity is also attributing to high market demand across the globe. Air
brake systems operates with triple valve system mechanism which ensures the
activation of brake by default and brake is released when the vehicle is in
motion. So, in cases of leak or failure of brake it goes back into its original
position and stops the vehicle which plays a significant role to avoid the
safety concerns in vehicle.
However, increasing demand for electric vehicle and
bus and high cost for air brakes over hydraulic brakes may create hindrance in
the global automotive airbrake system market growth.
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Global
automotive airbrake system market is segmented into vehicle type, component
type brake type, region, and company. Based on component type, market is further
divided into compressor, governor, storage tank, air dryer, foot valve, brake chamber
& slack adjuster, among others. Compressor segment is expected to account
for major market share for the forecast period, 2022-2026. Increase in
investments to develop infrastructure and growing need for railway network
upgradation is majorly driving the high demand for compressor segment. Air
dryer component is expected to witness fastest incremental growth due to high
demand for light weight components. Based on brake type, market is bifurcated
into air drum brake and air disc brake. The air drum brake segment is expected
to dominate the automotive airbrake system market in the predicted period owing
to strict rules and regulation to ensure safe vehicle stopping mechanism.
Introduction of advanced braking systems is accelerating the market growth. Based
on vehicle type, market is fragmented into rigid body truck, heavy-duty truck, semi-trailer,
and bus. Semi-trailer segment is expected to hold major market share for the
forecast period due to increasing adoption of automotive air braking systems
for heavy duty and semi-trailer to ensure safety of drivers. Manufacturers also
offer additional air operated disc brake system to improve the braking controls
and ensure back-ups for safety purpose.
Federal-Mogul,
KNORR-BREMSE AG, Meritor, Inc., WABCO, Wabtec Corporation, ZF FRIEDRICHSHAFEN
AG, Haldex Inc., TSE Brakes Inc., SORL Auto Parts, Inc, Nabtesco Automotive
Corporation are the leading players operating in global automotive airbrake
system market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several automotive
airbrake system manufacturers are coming up with their technologically advanced
offerings.
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“Expansion
of the railway network and technological advancement of trains and introduction
of high-speed trains is fostering the market demand. Launch of metro rail
projects by government authorities to upgrade the transport network is paving
the way for the market growth in the upcoming five years. Introduction of
automation in railways infrastructure coupled with ever-rising need demand to
ensure safety and comfort of passengers is propeling the market demand until
2026” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Automotive
Airbrake System Market - Global Industry Size, Share, Trends, Competition,
Opportunity, and Forecast, 2016-2026, Segmented By Vehicle Type (Rigid Body Truck,
Heavy-Duty Truck, Semi-Trailer, Bus) By Component Type (Compressor, Governor,
Storage Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster and
Others) By Brake Type (Air Drum Brake, Air Disc Brake) By Company, By Region,
Forecast & Opportunities, 2026” has evaluated the future growth potential of global automotive
airbrake system market and provided statistics & information on market
size, shares, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the of global automotive
airbrake system market.
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