Air Brake System Market Size, Share & Industry Analysis, By Application (Automotive (Buses, Trucks, and Others) and Railways), By Type (Air Disk Brake and Air Drum Brake), By Component (Compressor, Reservoir, Foot Valve, Brake Chambers & Slack Adjusters, and Brake Linings & Drums/Rotors), By Distribution Channel (OEM and Aftermarket), and Regional Forecast, 2023– 2030

The global air brake system market size was valued at USD 5.90 billion in 2022 and is projected to grow from USD 6.03 billion in 2023 to USD 7.66 billion by 2030, exhibiting a CAGR of 3.5% during the forecast period of 2023-2030. The Asia-Pacific dominated the air brake system market with a share of 40% in 2022.

The air brake system, also known as compressed air brake, is a friction-causing component in vehicles. In this system, the piston is pushed by the compressed air, which smears pressure to brake pad and brake shoe, which helps in stopping the vehicle. An air brake is generally used in commercial vehicles such as buses, trucks, and railways. The system’s operating pressure is approximately 100–120 psi (690–830 kPa or 6.9–8.3 bar).

The air brake system market growth is driven by the development of air brake system technology to reduce weight and make it compatible with fast passenger trains. Alongside, the surging demand for commercial vehicles due to rising growth in the logistics sector is also expected to propel the market expansion over the forecast period. The advancement in technology, such as electronic brake systems and air disk brakes for commercial vehicles and rail vehicles, is further expected to drive the market growth during the forecast period.

COVID-19 IMPACT

Halt in Production Hampered the Demand for Air Brake System

During the early stages of the pandemic, restrictions in global travel and lockdowns resulted in a sharp decline in the demand for rail vehicle operations and commercial vehicles, including trucks and buses that use air brakes. This reduction in demand affected sales and production of air brake components. For instance, according to OICA (International Organization of Motor Vehicle Manufacturers), in 2020, the production of buses and coaches witnessed a decline of -37% compared to 2019. This was followed by another -10% drop in 2021 compared to 2020.

As the pandemic situation improved and global economies began to recover, the market for air braking systems gradually rebounded. Companies were focusing on the development of technologies related to air brakes to cater to the upcoming demand of electric vehicles. Thus, the COVID-19 pandemic resulted in decreased demand for the systems in the market. Later, the demand was followed by an increasing shift toward the adoption of electric vehicles and a rise in e-commerce, which favored the market growth in the post-pandemic era.

LATEST TRENDS

Development in Technologies for Modern and Future Vehicles is the Major Trend

The growing trend toward the electrification and hybridization of vehicles, including focus on electric trucks and buses, has led companies to develop braking systems that work in synergy with these types of vehicles. The introduction of ADAS with an automated emergency braking system also relies on air brake components for effective operation in commercial vehicles.

The focus of major companies on developing electronic brake systems for increasing safety in vehicles is expected to drive the market growth. Companies are also developing technologies to reduce the weight of the air braking system without compromising safety and performance, fueling the market growth. In November 2020, Meritor extended its agreement with DTNA to deliver air disc brakes for Freightliner Cascadia trucks. The EX+ LS brakes are designed to provide enhanced taper wear performance and around 20-lb. weight reduction on a 6x4 truck.

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DRIVING FACTORS

Expansion of E-commerce and Logistics Industry to Boost Market Growth

E-commerce and logistics companies rely heavily on a vast fleet of delivery vehicles, including trucks and vans. As these companies expand their operation to meet growing consumer demand for online shopping and fast deliveries, they need to procure and maintain more vehicles. This increases the demand for the product, as air brakes are essential for ensuring the safety and reliable operation of commercial vehicles.

Moreover, delivery vehicles in the e-commerce and logistics sector are often subjected to heavy usage and frequent stop-and-go driving in urban environments. This puts significant stress on their braking systems. This also generates the demand for high-quality braking systems, which fuels market growth. According to the American Trucking Association, in 2022, trucks transported nearly 61.9% of the value of surface trade between the U.S. and Canada. Around 11.46 billion tons of freight was conveyed by trucks, representing 72.6% of the total domestic cargo shipping.

RESTRAINING FACTORS

High Replacement Cost of Air Brake Components May Hinder the Market Growth

Commercial vehicle operators, such as trucking companies and fleet owners, often face tight budgets and cost pressures. High replacement costs of components, such as brake pads, drums, or valves, can strain their financial resources. For instance, the replacement cost of a caliper is considered around USD 130 and rotor replacement costs around USD 170 to USD 300. In addition, the replacement of front and rear brake pads costs nearly USD 240 to USD 700. This can lead to delayed or deferred maintenance, reducing the overall demand for air brake components. Thus, the high cost of air brake components replacement results in increased operating costs of vehicles, which hinders market growth.

SEGMENTATION

By Application Analysis

Rise in Adoption of High-Speed Rails and Metros to Fuel the Railways Segment Growth

Based on application, the market is divided into automotive and railways.

The railways segment holds the major share in the market due to the wide application of air brakes in rolling stock, including locomotives as well as freight and passenger rail cars. Moreover, the increasing adoption of high-speed trains and railways are creating a demand for efficient and high-quality air braking systems. This is expected to drive the segment growth in the coming years. For instance, in August 2023, the California High-Speed Rail Authority approved the release of a Request for Qualifications (RFQ) for the adoption of 220 mph electrified high-speed trainsets.

The automotive segment is expected to expand with the highest growth rate during the forecast period. The automotive segment includes vehicles such as buses, trucks, rigid-body trucks, heavy-duty, and other specialized vehicles that require air brakes. The high growth in the logistics industry is driving the demand for commercial vehicles, including air brakes, thus boosting the segment growth during the forecast period.

By Type Analysis

Widespread Adoption of Air Drum Brakes in Commercial Vehicles to Drive Segment Growth

Based on type, the market is segmented into air disk brake and air drum brake. The air drum brake segment dominated the market in 2022. Air drum brakes are commonly used in commercial vehicles due to their low cost compared to air disk brakes. This factor is expected to lead to the dominance of the segment during the forecast period.

The air disk brake segment is expected to expand at the fastest-growing CAGR over the forecast period. The growth of the segment can be attributed to the increasing technological development in vehicle safety. Air disk brakes are more efficient than air drum brakes, which enhance the efficiency of the vehicle. This, in turn, is expected to boost the segment growth during the forecast period.

By Component Analysis

Technological Advancement in Air Brake System to Bolster the Segment Growth for Brake Linings & Drums/Rotors

Based on component, the market is categorized into compressor, reservoir, foot valve, brake chambers & slack adjusters, and brake linings & drums/rotors.

The brake linings & drums/rotors segment held the largest market share in 2022. The growth can be attributed to the development of technology by the major players in the market. For instance, in January 2023, Brakes India developed Motor on Drum brakes, iron castings, and others for commercial vehicles. This factor is fueling the segment growth.

The compressor segment is expected to grow with the highest CAGR during the forecast period. Major companies in the market are focused on reducing the weight and size of air braking systems. Thus, the trend toward reducing the weight and size of air braking systems is expected to drive the growth of the compressor segment during the forecast period.

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By Distribution Channel Analysis

Growth in Demand for Commercial Vehicles and Adoption of High-speed Trains to Propel the OEM Segment Growth

Based on distribution channel, the market is divided into OEM and aftermarket.

The OEM segment dominated the market in 2022, owing to the rising demand for commercial vehicles due to increasing e-commerce, transportation, and logistics operations globally. The adoption of high-speed trains and metros also fuels the OEM segment growth in the market.

The aftermarket segment is expected to grow at the highest CAGR during the forecast period. As the demand of commercial vehicles and rail vehicles is rising, the maintenance of their braking system for efficient operation also will be accountable. Thus, the increasing operation of commercial vehicles and railways generates the demand for aftermarket braking systems.

REGIONAL INSIGHTS

The market is analyzed across North America, Europe, the Asia Pacific, and the rest of the world.

Presence of Key Players in the Asia Pacific to Fuel the Market Growth

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The Asia Pacific market for air brake system held the largest share in 2022 and is anticipated to grow with the highest CAGR during the forecast period. The region caters to the aftermarket production and also has the presence of major automotive players, which fuels the demand for OEM products. Thus, the presence of major companies contributes to the dominance of the Asia Pacific market. For instance, according to OICA, in 2022, India witnessed a growth in sales of commercial vehicles by 37%, as compared to 2021.

North America held a significant air brake system market share in 2022. The market for commercial vehicles in North America is saturated due to the high adoption rate of commercial vehicles in the region. Thus, the high utility of commercial vehicles in the region fuels the market growth in the North America region. The demand for air brake systems is highly correlated with the freight transportation industry. As e-commerce and global trade continue to grow, there is a greater need for long-haul and heavy-duty trucks, which rely on air brake systems for safe and effective braking.

The Europe market for air brake system held a considerable share in 2022. The regional growth can be attributed to the well-established automotive industry in the region with presence of major automotive players, such as Daimler AG, Volvo, and others, who cater to commercial vehicle solutions.

The rest of the world held a significant market share of the market in 2022. The advancement in technology and growth in logistics sectors is anticipated to boost the market growth in the region during the forecast period.

KEY INDUSTRY PLAYERS

Companies Focus on Product Innovations to Gain a Competitive Edge

The market is considered fragmented, with the presence of several major global and local players. Companies are highly focused on the research and development for innovating and developing highly efficient, lightweight brake systems. Knorr-Bremse, Wabtec, and ZF, among others, are expected to dominate this industry. In June 2023, Knorr-Bremse, headquartered in Germany, developed smart and electrified braking systems for rail vehicles.

LIST OF KEY COMPANIES PROFILED:

• Knorr-Bremse (Germany)


• Wabco (Belgium)


• Meritor (U.S.)


• SORL Auto Parts, Inc. (China)


• Wichita Clutch (U.S.)


• Bludot Manufacturing (U.S.)


• Continental AG (Germany)


• Maxcess (U.S.)


• Cojali S.L. (Spain)


• Haldex (Sweden)


• Federal-Mogul Holdings Corporation (U.S.)


• Airmaster Brake Systems (South Africa)


• Brakes India Limited (India)


• YUMAK Air Brake Systems (Turkey)


• ZF (Germany)


• Wabtec (U.S.)


• Nabtesco (Japan)

KEY INDUSTRY DEVELOPMENTS:

• June 2023 – Tevva, an electric vehicle manufacturer in the U.K., partnered with ZF to develop a regenerative braking system. The regenerative braking system involves the electronic brake system that is to be used in Tevva’s 7.5t battery-electric truck.


• February 2022 – Knorr Bremse celebrated 100 years of operation of its compressed air brake system. The technology was patented on 14 February 1922 and the compressed air brake is still used in commercial vehicles.


• December 2021 – New York Air Brake Company, a subsidiary of Knorr Bremse, achieved TTX’s Excellent Supplier designation for the second consecutive year. The award was based on New York Air Brake Company’s OE brakes, Rail Services (repair centers), and Friction (ABS).


• April 2021 – Haldex signed a partnership with the Fast Group, a leading commercial vehicle component manufacturer in China. Haldex performed this partnership in order to expand its business in the China market. Both organizations formed a joint venture to manufacture and provide air disk brakes and aftersale support in China.


• January 2021 – ZF signed a contract with Navistar to provide its MAXXUS L2.0 air disc brakes. The MAXXUS L2.0 air disc brakes are fitted in 100 Navistar International trucks.

REPORT COVERAGE

The report provides a detailed analysis of the air brake system market trends and focuses on key aspects such as leading companies, product/service types, and leading applications of the product. Besides this, it offers insights into the key industry developments. In addition to the factors above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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