How big is the Air Brake System Market?

The Air Brake System Market size is expected to reach USD 3.60 billion in 2024 and grow at a CAGR of 2.80% to reach USD 4.13 billion by 2029. Read More

What is the current Air Brake System Market size?

In 2024, the Air Brake System Market size is expected to reach USD 3.60 billion. Read More

Who are the key players in Air Brake System Market?

ZF Friedrichshafen AG, Haldex Group, Nabtesco Corporation, Knorr-Bremse AG and Wabtec Corporation are the major companies operating in the Air Brake System Market. Read More

Which is the fastest growing region in Air Brake System Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Air Brake System Market?

In 2024, the Asia Pacific accounts for the largest market share in Air Brake System Market. Read More

What years does this Air Brake System Market cover, and what was the market size in 2023?

In 2023, the Air Brake System Market size was estimated at USD 3.50 billion. The report covers the Air Brake System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Air Brake System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Air Brake System Market Share

Statistics for the 2023 & 2024 Air Brake System market share, created by Mordor Intelligence™ Industry Reports. Air Brake System share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

Market Share of Air Brake System Industry

The air brake system market is dominated by several key players, such as Knorr-Bremse AG, Wabtec Corporation, ZF Friedrichshafen AG, Haldex Group, and others. The market is expected to witness significant growth during the forecast period due to the rapid expansion of manufacturing industries and growing strategic development among key players worldwide.

In December 2023, Kongsberg Automotive's Flow Control Systems business unit secured a three-year contract extension worth over USD 32.58 million. The extension was granted by a European commercial vehicle OEM for FCS Couplings' compressed air systems.
In June 2023, Knorr-Bremse AG, a leading manufacturer of braking systems, introduced a cutting-edge electromechanical train braking system (EM brake) that utilizes compressed air to apply the brake pads to the brake discs effectively. This advanced system is designed to deliver optimal braking performance and ensure the safety of passengers and freight on trains.