Air Brake System Market size is estimated to surpass USD 12.67 Billion by the end of 2035, growing at a CAGR of 6.31% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of air brake system was over USD 6.08 Billion.The growth of the market can be attributed to the rising sales of the vehicles. Air brakes give higher mechanical forces and it is best for greater distances covered by vehicles. In 2022, India surpassed Japan in auto sales, moving up to third position globally. At least 5 million new cars were sold in the country, exceeding Japan's almost 4 million sales. Moreover, around 19,000 luxury automobile units are predicted to be sold in Germany by 2027.
In addition to these, factors that are believed to fuel the market growth of air brake system include the rising instances of road accidents. Fatal road accidents are the main cause of global death for children and young adults aged 5 to 29. In addition to this, according to the statistics of the Ministry of Road Transport and Highways of India, every year, nearly 0.15 million people are killed on Indian roadways, which equates to 1130 accidents and 422 deaths every day, or 47 accidents and 18 deaths per hour. Besides this, the growth of the air brake system market is also attributed to the rising demand for recreational vehicles. Camping vehicle sales in Japan are expected to reach USD 470 million by 2021. Furthermore, around 600,000 recreational vehicles were shipped globally in 2021. It was around a 362% rise over 2009.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~6.31% |
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Base Year Market Size (2022) |
~ USD 6.08 Billion |
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Forecast Year Market Size (2035) |
~ USD 12.67 Billion |
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Regional Scope |
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Vehicle Type (Bus, Truck, Rolling Stock)
The global air brake system market is segmented and analyzed for demand and supply by vehicle type into bus, truck, and rolling stock. Out of the three types of vehicles using air brake system, the bus segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the increasing deployment of buses. Under Phase II of the FAME India Scheme, the government of India deployed 2435 e-buses across various states and union territories. Moreover, as of September 2022, in the United States, around 1,200 electric school buses were either on order, delivered, or in service. In total, the United States now has around 13,000 committed electric school buses. The compressed air braking system is a sort of friction brake used on large vehicles such as buses. Given that buses are so enormous, they require a lot of effort to stop. With a hydraulic system, the driver must use more force on the brake pedal to bring the bus to a complete stop.
Type (Disc, Drum)
The global air brake system market is also segmented and analyzed for demand and supply by type into disc, and drum. Amongst these two types of air brakes system, the disc segment is expected to garner a significant share in the year 2035. In comparison with drum brakes, the automobile industry has embraced the new-age disc brakes in the braking system of cars. When opposed to drum brakes, disc brakes have more complex mechanics and more components. Moreover, automotive disc brake have a number of advantages over traditional drum brakes, which is why at least all mid-size sedans, sport utility vehicles (SUVs), and automobiles have disc brakes all around. The growth of the segment is primarily attributed to the growing sales of SUVs. Despite supply chain challenges and rising inflation, global SUV sales climbed by roughly 3% between 2021 and 2022. Moreover, SUV attributed to nearly 46% of global car sales in 2022, with the maximum growth marked in India, Europe, and United States.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Component |
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By Technology |
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By Vehicle Type |
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APAC Market Statistics
The air brake system market in Asia Pacific is projected to be the largest with a share of about ~38% by the end of 2035. The growth of the market can be attributed majorly to the rising government initiatives to boost the braking system and ensure the security of the vehicles. Ministry of Road Transport & Highways of India, stated that the large vehicles must now have advanced braking system. Moreover, existing vehicles will be obliged to accept the new provisions beginning in April 2021, with all new vehicles beginning in April 2022. Furthermore, rising sales of cars in the region is also expected to augment the market growth in Asia Pacific. In 2022, China's auto sales increased 9.5%, with electric vehicle purchases nearly doubling. Moreover, in 2021, around 56 million of passenger cars were sold in China.
North American Market Forecast
The North American air brake system market is estimated to be the second largest, registering a share of about ~25% by the end of 2035. The growth of the market can be attributed majorly to the growing cases of vehicle crashes and road accidents. According to the National Highway Traffic Safety Administration, 38,824 people will die in motor vehicle accidents in the United States year 2022. On the other hand, the higher deployment of buses is also expected to drive market growth in the region. In the United States, zero-emission bus deployment is expected to increase by around 27% by 2021, reaching nearly 3,500 buses. More than 70% of US fleets have ten or fewer full-size ZEBs. As a result, the upcoming investment will be critical in scaling fleets.
Europe Market Forecast
Further, the air brake system market in Europe is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the initiatives taken by the government to reduce road accidents. By improving passenger, pedestrian, and cycling safety across the EU, the European Commission hopes to save at least 140,000 deaths and avoid at least 140,000 serious injuries by 2038. On the other hand, market growth in the region is also expected on the account of rising vehicle crashes followed by a higher number of people dying in road accidents. As per the statistics of the Eurostat, around 18 800 people were killed in road accidents in the EU in 2020, out of which 44.2% were passenger car drivers or passengers, and 19.2% were pedestrians. Moreover, in 2020, 85 people were killed in road accidents in Romania.
Knorr-Bremse AG signed a framework agreement with Alstom to provide braking, sanitary entrance, and climate control systems to 130 Coradia Stream regional trains. It is so far the largest contract of the Knorr-Bremse in Europe.
ZF Friedrichshafen AG introduced 100 international LT series trucks equipped with Wabco Maxxus L2.0 air disc brakes of the fifth generation. The MAXXUS L2.0 air disc brakes were chosen because of their durability, ease of maintenance, and high uptime. These disc brakes are manufactured in Charleston, South Carolina.
Author Credits: Harshita Srivastava, Saima Khursheed
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