Air Brake System Market Size To Expand at a Notable CAGR Of 4.3% During 2020 - 2027

Pune, India, January 17, 2019 /MRFR Press Release/- Market Research Future published a half-cooked research report on Global Automotive Air Brake System Market. The Global Automotive air brake system market is expected to witness ~4.3% CAGR during the period, 2018 to 2023.

Market Highlights

The air brake system is a type of braking system employed in the large heavy vehicles especially in those having multiple trailers such as buses, trucks, trailers and semi-trailers for the purpose of safety, efficiency, and reliability. The major advantage of this system is that it can be designed with enough fail-safe capacity to stop the vehicle safely even with considerable leakage. These types of braking system are easy to install on chassis and trailers as they are interconnected by pipes. Hence, they are highly used in heavy duty vehicles.

The increasing production of commercial vehicles in countries such as China, Germany, Mexico, India, and Japan drive the growth of automotive air brake system market. Furthermore, technological advancement, growing awareness from the key manufacturers in reducing the carbon footprints, low maintenance cost of this system, and the growing concern over the safety in commercial vehicles are set to drive the growth of this market during the study period. 

Browse Complete Report @ https://www.marketresearchfuture.com/reports/air-brake-system-market-7204

Drivers: Automotive Air Brake System

Market Research Analysis

In terms of region, the global market for the automotive air brake system is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to hold the highest market share throughout the forecast period owing to growing production of commercial vehicles from US, Canada, and Mexico. Moreover, increased production and sales of automobiles is expected to further boost the demand for air brake systems in this region. However, the Asia-Pacific region is expected to witness the highest growth during the forecast period due to the growing disposable income in countries such as China, India and other countries, growing goods transportation and rising focus towards driver & vehicle safety.

Continuous improvement in brake system technology will further enhance the Asia-Pacific market size. In Europe, the presence of key manufacturers such as Knorr-Bremse, ZF, and Haldex are also contributing in the growth of this market.

Scope of the Report

• By Component


• Compressor


• Reservoirs


• Foot valve


• Brake Chambers


• Others

• By Brake Type


• Air Drum Brake


• Air Disc Brake

• By Vehicle Type


• Passenger Vehicle


• Commercial Vehicle

• By Application


• On-Road Vehicle


• Off-Road Vehicle

• By Regions


• North America 


• Asia-Pacific 


• Europe


• Rest of the World  

Key Players

The prominent players in the global air brake system market market include Knorr-Bremse (Germany), WABCO (USA), Meritor (USA), Haldex (Sweden), ZF (Germany), Wabtec Corporation (USA), Nabtesco (Japan), Federal-Mogul Corporation (USA), Sorl Auto Parts (China), and TSE Brakes (USA).