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Air Brake System Market Overview
Global Air Brake
System Market is estimated to reach $5.2 billion by 2026, after growing at a
CAGR of 3.6% during the forecast period 2021-2026. Increasing adoption of air brake or air
compressor brake solutions in medium to heavy duty vehicles is one of the major
driving factor that is expected to drive the automotive air brake system market.
Currently, hydraulic braking system which is extensively used in vehicles can
impact a safety related issue, as these hydraulic brakes are not capable
of generating enough power to offer safety to the medium and heavy vehicle
while vehicles are in motion. Increasing vehicle production across the globe
from various vehicle manufactures is expected to drive the growth of air brake
drum industry outlook during the forecast period.
Air Brake System Market Report Coverage
The report: “Air Brake System Market – Forecast
(2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments
of the Air Brake System Industry.
By Type of Components: Compressor, Governer,
Storage Tank, Air Dryer, foot Valve, Brake Change, Slake Adjuster.
By Brake Type: Air Drum Brake, Air Disk Brake.
By Vehicle Type: Rigid Body Truck, Heavy
Duty Truck, Semi-Trailer, and Bus.
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy,
Spain, Russia and Others), APAC (China, Japan India, South Korea, Australia and
Others), South America(Brazil, Argentina and others) and RoW (Middle east and Africa).
Key Takeaways
- Asia-Pacific dominates the air brake system market owing to increasing demand from Heavy duty truck vehicle segment.
- With rising focus towards safety and increasing demand of medium to high loading capacity mostly demanding from regions including North America and Asia-pacific region penetrate the growth of the market across the globe.
- Automotive OEMs have been continuously focusing on improving the vehicle efficiency that has resulted in the growth of weight reduction measures of the vehicle. This includes displacement of high volume and weight hydraulic systems in vehicles.
Air Brake System Market Segment Analysis - By Type of Components
Air dryer
component segment is expected to have a largest market share in the air brake
system outlook by 2026. This segment is estimated to grow at a CAGR of 4.0%
during the forecast period. Increasing preference for lightweight brake
components is expected to drive the growth of the market in the forecast
period. Automotive OEMs are investing more amount of money in the research and
developments to innovate new air brake drum systems and increase the existing
vehicle efficiency.
Air Brake System Market Segment Analysis - By Vehicle Type
By vehicle type by the market has been classified in to four
different parts including Rigid Body Truck, Heavy-Duty truck, Semi-trailer, and
Bus. The semitrailer market is set to grow at the fastest rate of 6.7% through
2026. Increasing adoption of air brake systems for heavy-duty trucks and
semi-trailer is increasing rapidly offering safety and reliable features to the
driver. This market works efficiently even with minor leaks, that is not
possible in case of liquid brake system. Most of the heavy truck and extra
heavy truck manufactures have offered optional air operated disc brake system.
Air brake system includes a variety of features to improve braking control and
ensure backups for safety, some of the feature includes service brakes, parking
brakes, control pedal, air storage tank, air compressors, air pressure gauge,
and wig wag device. These air brake are more suitable for the heavy and
semi-trailers as the reliable braking-air brakes uses atmospheric air that
never runs out, rather than fluid which can leak. Air brake systems are also easy
to remove and attached, and remain effective even if there is an air leak. These
are the some of the advanced features offered by the air brake system that is
expected to drive the market in the long term.
Air Brake System Market Segment Analysis – By Geography
APAC region dominated the global air brake system market with a share of more than 32% in 2020, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the automotive industries According to OICA, APAC automotive sales witnessed a growth of over 6.5% during 2012-2019, with South East Asian countries having huge potential to grow.
Air Brake System Market Drivers
Safety is one of the major driving factor for advanced vehicles
In the moving vehicle, once the brake pedal is pressed the pressure is applied to the frictional components near the wheels which then press against each other’s to stop the vehicle. This traditional braking system has some drawbacks, if there is a leak in the braking system which results in partial or complete loss of the braking fluid, the efficiency of the brake drum is significantly reduce or it will completely loss. Air compressor brake systems resolve this traditional issue by offering air by offering special fluid to deliver pressure to the braking components. This air braking system reduce the chance of brake failure due to the avoidance of leaks in the braking system. Nowadays use of air brake system is being made mandatory under many governmental regulation for vehicles exceeding a certain size or carrying passengers for commercial purpose
Reliability of Air braking systems as compared to hydraulic brakes
Air brake systems operates in a different principle with triple
valve systems mechanism. In a conventional braking system, the brake is always kept in its
own position by default and the brake is applied when brake fluid is
compressed. Triple valve system air brake helps activation of brake which is
activated state by default and brake released when the vehicle moves in to
motion. As a result if there is a leak or even if the compression mechanism
totally fails, the brake revert back to their default activated position and
the vehicle will stop moving. So in the vehicle system air brake system plays
an important role for reliability of the vehicle safety concern.
Air Brake System Market Challenges
Expensive and Excessive Air leakage rate
Higher cost is one of the major
concern for air brake system, however this system doesn’t make much difference
in small vehicle that requires small hydraulic braking system. On the other hand, cost parameter is a significant factor for large
vehicle including heavy duty trucks, semi-trailer and buses, where air brake
systems lose out to traditional brake systems. Excessive air leakage rate is another concern
for air brake system. Air system loses pressure at a high rate, which lends importance
to the rate at which the system builds pressure. A reservoir that losses
pressure too quickly not only put strains on the compressor as the same time it
can also leave without adequate stopping power when it require the most power.
This situation create a large air leakage rate when air brake systems are
applied in the vehicle. Leakage rate more than 2 psi/minute indicates that
manufactures are likely to give more attention to resolve this current
challenge.
Air Brake System Market Landscape
Technology launches, acquisitions
and R&D activities are key strategies adopted by players in the air brake
system market. In 2020, the market of air brake system has been fragmented by the
top five players accounting for 34% of the share. Major players in the air
brake system market are, Knorr-Bremse, Wabco, Meritor, Wabtec, Nabtesco, TSE
Brakes, Federal-Mogul, Silverbackhd, Mahle Aftermarket, Tata Autocomp, and among
others.
Acquisitions/Technology Launches
- In June 2019, Wabco is planning to acquire ZF Friedrichshafen AG, which is a privately held system supplier and global technology companies offers various technology solutions to the passenger cars, and commercial vehicles. The aim of this merger will expected to offer new technology for commercial vehicle safety and efficiency for active air suspension system and air brake system.
- In March 2019, New York Air Brake LLC, has announced the acquisition of Snyder Equipment Company. Snyder is a leading manufacturer of locomotive service and fueling equipment’s. The acquisition will help Air Brake LLC to make a better strategy plan to diversify and expand its current capabilities and strong geographical reach.
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