Global Air Brake System Market is valued approximately USD 3416.45 million in 2020 and is anticipated to grow with a healthy growth rate of more than 4.69 % over the forecast period 2021-2027. air braking system is a high-power braking system. It is commonly used on heavy vehicles, such as trucks, buses, etc. The System apply compressed air pressure to operate the air brake instead of just the foot pressure acting against the flexible diaphragm in the brake chamber. Growing commercial vehicle industry, growing population with the rapid urbanization has led the adoption of Air Brake System across the forecast period. For Instance: As per the Autobei consulting group the Indian Commercial Vehicle industry is expected to reach 11,80. 000 units by 2025 with a CAGR of 18% from CY 2020 to CY 2025. Also, with the regulations related to load carrying capacity, the adoption & demand for Air Brake System is likely to increase the market growth during the forecast period. However, high cost of air brakes over hydraulic brakes impedes the growth of the market over the forecast period of 2021-2027.

The key regions considered for the global Air Brake System market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to upcoming safety-related regulatory compliances, largest heavy commercial vehicle production compared to other regions. Whereas, Asia pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as with the continuously growing population and urbanization responsible for lucrative growth prospects for the Air Brake System market across Asia Pacific region.

Major market player included in this report are:
Knorr-Bremse
Wabco
Haldex
Wabtec
ZF
Nabtesco
TSE Brakes
Federal-Mogul
Sorl Auto Parts
Tata Autocomp
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Air Disc
Air Drum
By Vehicle Type:
Rigid Body
Heavy-duty Truck
Semi-trailer
Bus
By Component:
Compressor
Storage Tank
Driver's Brake Valve
Brake Cylinder
Brake Pipe
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Air Brake System Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Knorr-Bremse
Wabco
Haldex
Wabtec
ZF
Nabtesco
TSE Brakes
Federal-Mogul
Sorl Auto Parts
Tata Autocomp