The brand new report by Skilled Market Analysis titled, ‘World Automotive Air Brake System Market Report and Forecast 2022-2027’, offers an in-depth evaluation of the World Automotive Air Brake System Market, assessing the market primarily based on its segments like brake kind, automobile kind, part, and areas. The report tracks the newest tendencies within the trade and research their influence on the general market. It additionally assesses the market dynamics, protecting the important thing demand and worth indicators, together with analysing the market primarily based on the SWOT and Porter’s 5 Forces fashions.
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The important thing highlights of the report embody:
- Historic Market Dimension (2020): USD 4.43 Billion
- Forecast CAGR (2022-2027): 3.10%
- Forecast Market Dimension (2027): USD 5.32 Billion
Market Overview (2017-2027)
Components reminiscent of rising demand for heavy-duty vans, a rising need for air brake methods in medium-duty automobiles, and tight laws governing heavy-duty automobile security measures are driving the worldwide automotive air brake system sector. Due to the confirmed effectiveness and efficiency of air brake methods in heavy-duty vans, they’re seeing higher use in medium-duty automobiles. The present hydraulic brake methods are unable to generate sufficient power to cease totally charged medium-duty automobiles, which can pose questions of safety, fueling the rising want for vehicle air brake methods.
Trade Definition and Main Segments
Pneumatic stress is utilized by the automotive air braking system to cease a automobile like a truck or a bus.
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On the idea of brake kind, the market is segmented into:
- Air Drum Brake
- Air Disc Brake
On the idea of car kind, the market is split into:
On the idea of part, the market is assessed as:
- Compressor
- Governor
- Storage Tank
- Air Dryer
- Foot Valve
- Brake Chamber
- Slake Adjuster
On the idea of area, the market is segmented into:
- North America
- Europe
- Asia
- Latin America
- Center East and Africa
Market Traits
Heavy-duty automobile gross sales are growing in international locations reminiscent of China, Japan, North American international locations, and Western European international locations. That is attributable to elevated manufacturing exercise and highway infrastructure enhancements. Automotive OEMs have been persistently engaged on bettering automobile effectivity, which has resulted in a rise in automobile weight discount strategies. This includes the displacement of heavy hydraulic methods in automobiles. Air brake methods are customary on heavy-duty automobiles reminiscent of vans and buses. Because of this, elevated gross sales of industrial quality automobiles are more likely to drive demand for automotive air-brake methods throughout the forecast interval.
Key Market Gamers
The most important gamers available in the market are Knorr-Bremse AG, Meritor Inc, Haldex, SORL Auto Components Inc, Wabco, Federal-Mogul Motorparts LLC, Nabtesco Automotive Company, and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, amongst different newest developments of those market gamers.
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