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Air Brake System Market Size (2024 - 2029)

The air brake system market is projected to experience growth over the forecast period, driven by increased demand in the commercial truck and bus sectors, particularly within logistics and construction. The expansion of infrastructure projects, such as highways and airports, is expected to boost the need for heavy-duty trucks, thereby enhancing the market's scope. Additionally, the rapid growth of electric vehicles, due to their specific component requirements, presents a significant opportunity for the market to expand further.

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Market Size of Air Brake System Industry

Air Brake System Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.60 Billion
Market Size (2029) USD 4.13 Billion
CAGR (2024 - 2029) 2.80 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Air Brake System Market Major Players

*Disclaimer: Major Players sorted in no particular order

Air Brake System Market Analysis

The Air Brake System Market size is estimated at USD 3.60 billion in 2024, and is expected to reach USD 4.13 billion by 2029, growing at a CAGR of 2.80% during the forecast period (2024-2029).

Over the medium term, the demand for commercial trucks and buses witnessed a rise in sales and production, particularly in the logistics and construction sectors, which is likely to drive the growth of the market significantly during the forecast period.

The development of major infrastructure projects in several regions, encompassing the construction of highways, feeder roads, ports, and airports, is playing a pivotal role in bolstering the demand for heavy-duty trucks, which is anticipated to enhance the demand for air brake systems in the coming years.

Electric vehicles (EVs) are growing rapidly due to the specific manufacturing requirements of EV components. The demand for lightweight and high-performance components has increased, creating a lucrative opportunity for the market.

Air Brake System Industry Segmentation

Air brake systems utilize compressed air to put pressure on the brake pads, effectively slowing down or stopping a vehicle. They are widely used in commercial vehicles and railways. The driver's foot pressure activates the system through a tensile diaphragm located inside a brake chamber. 

The air brake system market is segmented by brake type, vehicle type, component, and geography. The market is segmented by Brake Type into drum air brakes and disc air brakes. The market is segmented by vehicle type into rigid-body trucks, heavy-duty trucks, semi-trailer tractors, buses, and others. By component, the market is segmented into compressor, governor, storage tank, slack adjuster, and others. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecast have been done based on the value (USD).

By Brake Type
Drum Air Brake
Disc Air Brake
By Vehicle Type
Rigid Body Trucks
Heavy-Duty Trucks
Semi-Trailer Tractors
Buses
Other Vehicle Types
By Component
Compressor
Governor
Storage Tank
Slack Adjuster
Other Components
By Geography
North America
Europe
Asia-Pacific
Rest of the World
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Air Brake System Market Size Summary

The air brake system market is poised for steady growth over the forecast period, driven by increasing demand in the commercial vehicle sector, particularly trucks and buses. This demand is fueled by the expansion of infrastructure projects such as highways, ports, and airports, which necessitate the use of heavy-duty vehicles equipped with air brake systems. The rise of electric and hybrid vehicles presents both challenges and opportunities, as these vehicles utilize a combination of regenerative and air braking systems. While regenerative braking reduces the frequency of air brake use, the necessity for air brakes remains, ensuring continued demand. The market is further bolstered by the anticipated cost parity between electric and diesel buses, alongside significant investments in public transportation infrastructure aimed at reducing congestion and pollution.

The Asia-Pacific region currently dominates the air brake system market, supported by a surge in commercial vehicle sales and the presence of major manufacturers with advanced research capabilities. Countries like China, India, and South Korea are leading in the adoption of electric buses, contributing to the market's expansion. The region's growth is also propelled by the establishment of new manufacturing facilities and the strategic development efforts of key industry players. Prominent companies such as Knorr-Bremse AG, Wabtec Corporation, and ZF Friedrichshafen AG are at the forefront, driving innovation and securing significant contracts to enhance their market positions. These developments underscore the market's potential for growth, driven by technological advancements and increasing demand for efficient and sustainable transportation solutions.

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Air Brake System Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Rise in Sale of Commercial Vehicles

    2. 1.2 Market Restraints

      1. 1.2.1 High Maintenance Cost

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in Value - USD)

    1. 2.1 By Brake Type

      1. 2.1.1 Drum Air Brake

      2. 2.1.2 Disc Air Brake

    2. 2.2 By Vehicle Type

      1. 2.2.1 Rigid Body Trucks

      2. 2.2.2 Heavy-Duty Trucks

      3. 2.2.3 Semi-Trailer Tractors

      4. 2.2.4 Buses

      5. 2.2.5 Other Vehicle Types

    3. 2.3 By Component

      1. 2.3.1 Compressor

      2. 2.3.2 Governor

      3. 2.3.3 Storage Tank

      4. 2.3.4 Slack Adjuster

      5. 2.3.5 Other Components

    4. 2.4 By Geography

      1. 2.4.1 North America

      2. 2.4.2 Europe

      3. 2.4.3 Asia-Pacific

      4. 2.4.4 Rest of the World

Air Brake System Market Size FAQs

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.

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

Air Brake System Market Report Snapshots

Air Brake System Market Size & Share Analysis - Growth Trends & Forecasts (2024-2029)