Global Air Brake System Market Size/Share to be Worth USD 3.86 billion by 2032

Air Brake System Market Size Worth $3.86 Billion By 2032 | CAGR: 2.10%


The global air brake system market size is expected to reach USD 3.86 billion by 2032, according to a new study by Polaris Market Research. The report “Air Brake System Market Share, Size, Trends, Industry Analysis Report, By Vehicle Type (Rigid Body Trucks, Heavy Duty Trucks, Semi-Trailer Tractor, Bus, and Rolling Stock); By Brake Type; By Component; By Technology; By Region; Segment Forecast, 2024-2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising sales of vehicles and increasing demand for automobiles across the world have driven the demand for air brake systems which is propelling the market growth over the forecast period. According to the IEA, global car sales will be 69 Mn units, in 2023, driven by increased penetration in the middle economies & rising use of EVs. Car sales are expected to reach 74 million in 2024.  Air brakes provide greater mechanical forces and are ideal for cars traveling longer distances. Air brake systems are used on large commercial trucks. Air brake systems use pressurized air stored in tanks to create the force that applies the brakes at each wheel. As a result, increased car sales will aid the market's growth.

In addition to this, increased instances of road accidents are thought to be fueling the market expansion of air brake systems. According to the Centers for Disease Control and Prevention, Every year, 1.35 Mn individuals lose their lives on the world's roads. Every day, nearly 3,700 people are killed in accidents across the globe. The brakes are installed to decrease accidents and vehicle damage by preventing accidents between two vehicles. Air brakes are used to prevent collisions between trucks, railroads, and buses. Therefore, the air brakes in vehicles prevent road accidents which is driving the market growth.

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The market's expansion is being attributed to increased demand for recreational vehicles. Governments and regulatory agencies around the world are enforcing stricter safety standards for commercial vehicles to decrease traffic accidents and improve road safety. Because of their fast and efficient braking performance, air brake systems are a popular alternative for meeting safety and compliance standards.

Air Brake System Market Report Highlights

  • Air drum brakes will grow at a rapid pace, owing to the introduction of improved braking technologies.
  • The storage tank segment held the largest share, owing to the benefits such as holding compressed ambient air at high pressure and the necessitating aerial storage.
  • Anti-lock braking Systems held the largest share, owing to the rising concerns about highway accidents caused by vehicle sliding and loss of control.
  • The global players include Bendix Commercial Vehicle, Continental, Dana Incorporated, Federal-Mogul, Hino Motors., Haldex & Knorr-Bremse

Polaris Market Research has segmented the Air Brake System market report based on vehicle type, brake type, component, technology, and region:

Air Brake System, Brake Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Air Disc Brake
  • Air Drum Brake

Air Brake System, Technology Outlook (Revenue - USD Billion, 2019 - 2032)

  • C.S. (Traction Control System)
  • S.C. (Electronic Stability Control)
  • EBD (Electronic Brake-force Distribution)
  • A.B.S. (Anti-Lock Braking System)

Air Brake System, Component Outlook (Revenue - USD Billion, 2019 - 2032)

  • Compressor
  • Governor
  • Storage Tank
  • Air Dryer
  • Foot Valve
  • Brake Chamber
  • Slack Adjuster
  • Others

Air Brake System, Vehicle Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Rigid Body Trucks
  • Heavy Duty Trucks
  • Semi-Trailer Tractor
  • Bus
  • Rolling Stock

Air Brake System, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Air Brake System Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 3.26 billion

Revenue Forecast in 2032

USD 3.86 billion

CAGR

2.10% from 2023-2032

Base year

2022

Historical data

2019-2021

Forecast period

2023-2032

Quantitative units

Revenue in USD billion and CAGR from 2023-2032

Segments Covered

By Vehicle Type, By Brake Type, By Component, By Technology, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization

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  • Segmentation analysis
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  • Competitive landscape
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