Global Air Brake System Market Forecast to 2025: Opportunities in Regulations Related to Load Carrying Capacity and Mandates on Air Brakes Installation
DUBLIN, Dec 3, 2018 /PRNewswire/ --
The "Air Brake System Market by Type (Disc & Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer & Bus), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global air brake system market is projected to reach USD 5.60 billion by 2025 from USD 4.46 billion in 2018, at a CAGR of 3.31% during the forecast period.
The Asia Oceania region, which has the largest share in the global commercial vehicle production, is projected to dominate the air brake system market during the forecast period. As per this analysis, the production share of heavy trucks and buses in Asia Oceania stood at 72.2% and 61.6%, respectively in the year 2017. Further, according to OICA statistics, heavy trucks have shown a significant rise in production of 19.5% between 2016 and 2017.
The air brake system market is dominated by a few global players and comprises several regional players. Some of the key players in the air brake system market are Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), Haldex (Sweden), ZF (Germany), Wabtec (US), and Nabtesco (Japan). These players have adopted various growth strategies to diversify their global presence and increase their market shares. The major strategies include new product developments and expansions. Knorr-Bremse adopted the strategies of new product development, partnership, and acquisition to retain its leading position in the air brake system market. In August 2018, Knorr-Bremse introduced 2 new disc brakesSYNACT and NEXTTfor future generations of heavy-duty commercial vehicles.
Compared to its predecessor, SYNACT offers new dimensions of performance and weight. Further, Knorr-Bremse also acquired intellectual property rights (IPR) for the development and production of friction materials for rail vehicles and industrial applications from Federal-Mogul. Alternatively, Meritor adopted supply contracts, new product developments, and expansion strategies to sustain its market position.
In March 2018, Meritor received a supply contract from Daimler Trucks North America (DTNA) to provide EX+L air disc brakes. These EX+L air disc brakes will be a standard on all wheel positions for DTNA's new Freightliner Cascadia model to further enhance safety and performance.
In September 2017, Meritor introduced the EX+ air disc brakes compatible with tractors and trailers. The EX+ air disc brake has been weight-optimized by 10 pounds per brake without sacrificing performance and offers the lightest-weight truck air disc brakes in the market.
Also, in October 2017, the company opened an aftermarket distribution center in Santa Fe Springs, California, to fulfill aftermarket orders from warehouse distributors and dealers in 13 states. The facility stocks the complete Meritor Aftermarket brand portfolio for customers in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.
Key Topics Covered:
1 Introduction
1.1 Objectives
1.2 Market Definition
1.3 Market Scope
1.4 Currency & Pricing
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Secondary Data
2.3 Primary Data
2.4 Market Size Estimation
2.5 Market Breakdown and Data Triangulation
2.6 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Air Brake System - Global Market & Forecast
4.2 Air Brake System Market, By Region
4.3 Air Brake System Market, By Component
4.4 Air Brake System Market, By Brake Type
4.5 Air Brake System Market, By Vehicle Type
4.6 Air Brake System Market for Construction and Mining Trucks, By Component
4.7 Air Brake System Market for Rolling Stock, By Component
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increase in Sales & Production of Commercial Vehicles and Off-Highway Trucks
5.2.1.1.1 Increasing Population Around the Globe
5.2.1.1.2 Increased Urbanization
5.2.1.1.3 Increased Industrialization
5.2.1.1.4 Increased Infrastructural Spending
5.2.1.2 Increased Railways and High-Speed Trains
5.2.1.3 Fail-Safe Nature of Air Brakes Over Hydraulic Brakes
5.2.2 Restraints
5.2.2.1 High Cost of Air Brakes Over Hydraulic Brakes
5.2.2.2 Increased Stopping Distance Over Hydraulic Brakes
5.2.2.3 Increasing Focus on Electric Trucks and Buses
5.2.3 Opportunities
5.2.3.1 Regulations Related to Load Carrying Capacity and Mandates on Air Brakes Installation
5.2.4 Challenges
5.2.4.1 Freezing of Air Brakes at Low Temperature
6 Air Brake System Market, By Component
6.1 Introduction
6.2 Compressor
6.2.1 Asia Oceania is Estimated to Lead the Compressor Market
6.3 Governor
6.3.1 Increasing Number of Heavy Commercial Vehicles Around the World Will Boost the Demand of Governors
6.4 Storage Tank
6.4.1 Increasing Trucks With High Load Carrying Capacity Would Require More Number of Storage Tanks
6.5 Air Dryer
6.5.1 Europe and North America Have Freezing Temperatures in Many Areas That Consequently Boost the Need of Air Dryers
6.6 Foot Valve
6.6.1 Rest of the World is Anticipated to Grow at the Highest Rate for Foot Valve
6.7 Brake Chamber
6.7.1 Asia Oceania is Estimated to Be the Leading Brake Chamber Market in 2018
6.8 Slake Adjuster
6.8.1 With Rising Heavy Commercial Vehicle Production, Slack Adjuster Market is Projected to Witness Growth in Coming Years
7 Air Brake System Market, By Brake Type
7.1 Introduction
7.2 Air Drum Brake
7.2.1 Marginal Growth in the Demand of Drum Brake for Heavy Commercial Vehicles at A Global Level
7.3 Air Disc Brake
7.3.1 Air Disc Brakes are Growing at A Significant Rate Worldwide Owing to Its Durability and Less Stopping Distance
8 Air Brake System Market, By Vehicle Type
8.1 Introduction
8.2 Rigid Body Truck
8.2.1 Asia Oceania is Projected to Be the Largest Market in Rigid Body Trucks Segment for Air Brake System
8.3 Heavy-Duty Truck
8.3.1 Heavy-Duty Trucks are Anticipated to Hold the Largest Share in Air Brake System Market
8.4 Semi-Trailer
8.4.1 Semi-Trailers are Projected to Be the Fastest for Air Brake System Market From 2018 to 2025
8.5 Bus
8.5.1 Asia Oceania Accounted Maximum Installation Rate in 2018 of Air Brake System in Buses
9 Air Brake System Market for Construction and Mining Trucks, By Component
9.1 Introduction
9.2 Compressor
9.2.1 North America is Estimated to Lead the Compressor Market
9.3 Governor
9.3.1 Usually Number of Governors Installed are Equal to Number of Compressors in Construction and Mining Trucks
9.4 Storage Tank
9.4.1 Construction and Mining Trucks Would Have Higher Number of Storage Tanks Due to Its Rigorous Working Conditions
9.5 Air Dryer
9.5.1 North America Lead the Air Dryer Market for Construction and Mining Trucks in 2018
9.6 Foot Valve
9.6.1 Every Rigid and Articulated Dump Truck Have A Single Foot Valve, With Variation in the Sizes Depending on Vehicle Type
9.7 Brake Chamber
9.7.1 Number of Axles in Trucks are Directly Proportional to Number of Brake Chambers
9.8 Slake Adjuster
9.8.1 Slack Adjuster Market Witness Growth Especially in North America and Europe in Coming Years
10 Air Brake System Market for Rolling Stock, By Component
10.1 Introduction
10.2 Compressor
10.2.1 Number of Compressors in Rolling Stock Ranges From 1 to 4 Depending on Different Type.
10.3 Storage Tank
10.3.1 Asia Oceania Leads the Storage Tank Market for Rolling Stock Segment
10.4 Driver's Brake Valve
10.4.1 Every Rail Cabin has A Single Driver Brake Valve, Irrespective of Different Rolling Stock Type
10.5 Brake Cylinder
10.5.1 Number of Brake Cylinders Varies With Architecture of Railway Bogies
10.6 Brake Pipe
10.6.1 Every Brake Cylinder is Connected to the Brake Pipe in A Rolling Stock
11 Air Brake System Market, By Region
11.1 Introduction
11.2 Air Brake System Market, By Region
11.3 Asia Oceania
11.3.1 China
11.3.1.1 China is the Largest Market for Air Brake System in Asia Oceania
11.3.2 Japan
11.3.2.1 Japan is the Second Largest Air Brake System Market, By On-Highway Vehicle Type
11.3.3 South Korea
11.3.3.1 Rigid Body Trucks Leads the Air Brake System Market in South Korea
11.3.4 India
11.3.4.1 India is the Fastest Market for Air Brake System in Asia Oceania
11.3.5 Rest of Asia Oceania
11.3.5.1 Heavy-Duty Truck has Prominent Share in Air Brake System Market for This Segment
11.4 Europe
11.4.1 Germany
11.4.1.1 Germany Leads the European Air Brake System Market Under the Review Period
11.4.2 France
11.4.2.1 Heavy-Duty Truck is A Promising Market Opportunity for Air Brake System in France
11.4.3 UK
11.4.3.1 Rigid Body Truck is Expected to Be the Fastest Growing Market
11.4.4 Spain
11.4.4.1 Semi-Trailer is Estimated to Be the Dominant Air Brake System Market in Spain
11.4.5 Russia
11.4.5.1 Heavy-Duty Truck is Major Air Brake System Market, By Vehicle Type in Russia
11.4.6 Turkey
11.4.6.1 Turkey is the Fastest Market for Air Brake System in Europe
11.4.7 Rest of Europe
11.4.7.1 Heavy-Duty Truck is Leading Vehicle Type for Air Brake System Market in Rest of Europe
11.5 North America
11.5.1 US
11.5.1.1 US is Expected to Have the Largest North American Market
11.5.2 Mexico
11.5.2.1 Mexico is the Fastest Growing and Second Largest Market for Air Brake System in North America
11.5.3 Canada
11.5.3.1 Heavy-Duty Truck Have High Demand of Air Brake System Market in Canada
11.6 RoW
11.6.1 Argentina
11.6.1.1 Heavy-Duty Truck is Expected to Have the Largest Market Share in Argentina.
11.6.2 Brazil
11.6.2.1 Brazil is Largest Market for Air Brake System in RoW
11.6.3 Rest of RoW
11.6.3.1 Heavy-Duty Truck is Expected to Have the Largest Market Over the Forecast Period
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis
12.3 Competitive Situation & Trends
12.3.1 New Product Developments
12.3.2 Partnerships & Supply Contracts
12.3.3 Expansions
12.3.4 Mergers & Acquisitions
13 Company Profiling
13.1 Knorr-Bremse
13.2 Wabco
13.3 Meritor
13.4 Haldex
13.5 ZF
13.6 Wabtec
13.7 Nabtesco
13.8 TSE Brakes
13.9 Federal-Mogul
13.10 Sorl Auto Parts
13.11 Additional Companies
13.11.1 North America
13.11.1.1 Sealco
13.11.1.2 Silverbackhd
13.11.1.3 Fort Garry Industries
13.11.1.4 Fritec
13.11.2 Europe
13.11.2.1 Mahle Aftermarket
13.11.2.2 Aventics
13.11.2.3 Knott
13.11.2.4 Kongsberg
13.11.3 Asia Oceania
13.11.3.1 Tata Autocomp
13.11.3.2 MEI Brakes
For more information about this report visit https://www.researchandmarkets.com/research/894bsj/global_air_brake?w=5
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