Photocatalytic Coatings Market Is Driven by Growing Construction Sector

The photocatalytic coatings market is estimated to touch USD 984.6 million in 2023, which will touch USD 1,856.7 million, advancing at a 9.6% compound annual growth rate, by 2030. 

The progression of this industry is mainly because of the rising need for these coatings in air purification and water treatment applications due to the increasing air and water pollution. Moreover, they are highly employed in the construction industry because of their de-polluting, anti-microbial, and self-cleaning properties.

The zinc oxide category, on the basis of type, is leading the industry, with over 20% share in 2023, and it will also advance at the highest rate during this decade. A key benefit of ZnO is its capability to react to visible light. TiO2 photocatalysts need ultraviolet light to activate, on the other hand, zinc oxide can be started by a transparent spectrum of light. 

The building & construction category, based on end use, is dominating the photocatalytic coatings market, with over 45% share, in 2023. This can be attributed to the increasing urbanization rate and the rising concentration on sustainability. Photocatalytic coatings work effectively in this situation by offering environmentally friendly solutions for enhancing air quality, allowing self-cleaning surfaces, and decreasing energy use. 

The self-cleaning category, based on application, is advancing at a significant rate. The nano-function belongings of photocatalytic self-cleaning coatings led to their extensive employment in construction since they offer efficiency and cost-savings.

Europe accounts for a significant share of the industry. This is because of the rising consciousness regarding the importance of good air quality as well as the existence of major players. Moreover, these players are increasing their funding in research and development activities.

It is because of the development in the construction sector as well as the mounting acceptance of photocatalytic coatings with low VOC emissions, the photocatalytic coatings industry will continue to propel in the years to come.

Read More

Automotive Pistons are Mostly Made of Aluminum, why?

Pistons are important parts of an automotive engine.  It is a cylindrical component moving up and down a pressure chamber. The movement of the piston pressurizes a fluid for creating or transferring motion. For understanding the piston mechanism, the syringe used by doctors is a good thing. The part inside of the syringe is the piston, and the handle is the rod to make it operational.

Working Principle of an Automotive Piston

The piston operation is divided into phases known as strokes. A piston stroke is specified by the position of the piston, ranging from the top, middle, and bottom parts. Irrespective of the piston engine fuel system, the fuel delivery sequence and the position of a piston is a seamlessly timed process.

The combustion cycle starts with the piston on the upper part. Throughout this time, the exhaust and intake valves are closed. The piston then begins a downward movement, making a partial vacuum in the above space. Then, the air enters the cylinder.

Fuel also goes in the cylinder simultaneously, and there is a closure of the intake valves. At this stage, the piston begins the upward movement. For the reason that all the valves are closed, the motion of the piston compresses the fuel/ air mix, creating a pressurized space between it and the head of the cylinder. There is an ignition in the mix, making the piston move down.

The exhaust valves then open up for allowing the products of ignition to escape. This occurs when there is an upward movement of the piston. The piston forces the exhaust gases out. In the meantime, there is an opening of the intake valves fuel and air goes into the cylinder, and there is a repetition of this process. 

The piston assembly has two different sections: the upper part having the crown and rings providing a nearly airtight seal. The arrangement of the piston and the ring also supports in scraping oil from the cylinder walls and returns it to the oil sump.

Apart from cylinder and piston, there is also the section having a connecting rod. This is the part transferring the piston’s back and forth motion to the crankshaft The piston and connecting rod are joined by a wrist pin.

What Goes into the Making of a Piston?

A piston has to bear a lot of stress. Initially, pistons were made of iron because of its excellent resistance to deterioration, good thermal conductivity, and other advantages. But the iron pistons were heavy. A piston should not be heavy, as it will have an adverse effect on the efficiency of the engine.

Coming to a Conclusion

Stringent rules to reduce GHG emissions has a lot to do with the with the increasing demand for automotive pistons, all over the world. The demand for automotive pistons will reach a value of USD 5,806.1 million by the end of this decade.

Read More

E-Vans Gaining Traction as Market Projected to Reach USD 60,963.1 million by 2030

The count of e-van models obtainable and their variety is growing, making them a progressively practical option. While more costly to buy than alike diesel models, accepting e-vans can save your capital on fuel and tax, and significantly decrease your fleet’s nitrogen dioxide and carbon emissions.

The global electric van market is witnessing growth and is projected to reach USD 60,963.1 million by 2030.

Benefits of Electric Vans

Low Running Prices

One of the major benefits of e-vans is their low everyday running prices. A diesel van running 20,000 miles a year will rate about £3,000 a year on average in fuel, but an e-van will charge just £500 a year to cover a similar distance. Saving £2,500 a year soon makes up for any list cost difference between diesel and electric vans and enhances up to a significant sum over the lifetime of the van.

Ecologically Friendly

E-vans are far friendlier to the atmosphere than traditional petrol or diesel vans, releasing fewer gases and contaminants into the environment than diesel and petrol vans, such as the manufacturing of the van and the generation of energy to power them. This not only decreases the contribution towards climate change but aids in reducing air contamination in our cities and towns.

Refined Driving Experience

An additional plus for electric vans is the swift silence of the e-motor, letting you cruise with ease without the sound and rattle of old-style combustion engines. Also, a low noise level and the near-prompt torque of the motor permit smooth acceleration, making it simple to move around town. With the batteries stored in the underbody of the van, not only do they not take up any space in the cargo area but they aid less the center of gravity adding to remove pitch and roll under heavy braking or acceleration.

Low Maintenance Costs

The common concern about electric vans is that it will cost an arm and a leg to maintain them because of their modern equipment, but are they more expensive for maintenance? Indeed, maintenance costs will be significantly reduced due to the relative shortage of moving parts and a regenerative braking system that reduces brake wear and tear.

Asia-Pacific Leads Market 

The Asia-Pacific region leads the industry with an income share of 45%, and the region is also projected to advance at a substantial CAGR, of 28.8%, during the projection period. This is because of the rising populace and quick urbanization in numerous regional nations, mainly China and India. China is the major maker of such automobiles, with several businesses concentrating on improvements in them to bring down their buying, working, and maintenance prices.

Read More

Piezoelectric Ceramics Market is Led by the APAC Region

The piezoelectric ceramics market is valued around USD 1,498.6 million in 2023, which will reach USD 2,098.5 million by 2030, driving at a rate of 5.2%. 

As a result of the increasing consumer requirement for smart devices, smartphones, wearable electronics, and IoT devices, the electronics industry is increasing incessantly. Actuators, sensors, and transducers play an important role in these gadgets; hence, the requirement for dependable and effective sensing & propulsion capabilities in electronic goods powers the industry. 

These ceramics are put to use as the main sensing components in various sensors in numerous sectors. Precision, wide sensing range, and rapid responses are vital from high-performance sensors, which these resources can deliver.

Lead zirconate titanate has a considerable share of 35%, in 2023, chiefly because of its high piezoelectric coefficient, allowing it to efficiently convert mechanical stress into electrical signals and vise-versa. 

In the application segment, capacitors will have a robust growth, because of the increasing requirement for cutting-edge capacitors in electronic products. For making capacitors with sufficient energy storage, these are advantageous. 

Furthermore, they are seamless for the capacitors combined into cells, computers, and IoT devices, to which they provide quick and efficient functioning.

In the piezoelectric ceramics market sensors will also experience rapid expansion in the years to come. These ceramics exhibit high sensitivity and accuracy in detecting force, pressure acceleration, and vibrations, making them vital in the aerospace, healthcare and automobile sectors. In applications for example structural health monitoring, process control, and environmental monitoring, these offer trustworthiness and precision.

Therefore, the development of these sectors generates a high requirement for piezoelectric ceramics. The requirement for smartphones, wearable technology, tablets, and other devices is powered by the massive population and growing middle class, making the region the world's leading consumer electronics market. 

To provide front-line functionalities and notable user experiences, these gadgets make heavy use of vibration sensors, capacitive touchscreens, and other components. Due to the rising demand for consumers for smart devices, the requirement for piezoelectric ceramics will continue to grow in the years to come as well.

Read More

Growing Environmental Awareness Powering the Robotaxi Market

The robotaxi market is valued at USD 458.9 million (E) in 2023, and it will touch USD 29.2 billion by 2030, powering at a mammoth rate of 82.6% by the end of this decade.

An economical and practical form of transportation is offered by robotaxis. With the use of smartphone applications, passengers might request a ride, therefore doing away with the requirement to own a car and saving money on traveling.

The key application in the industry is passenger transportation. Talking of the creation and use of automated vehicles, passengers are the key emphasis of OEM and service providers’ resources and efforts. 

On the basis of component, LiDAR sensors will have the fastest growth in the future. Automated vehicles' perception skills are enhanced by this tech, which allows them to identify and classify items for example passengers, other cars, and barriers with better precision. For dependable and secure process, the car's choices and grounding procedures hinge on such data.

Though self-driving vehicles frequently use other sensor techniques, for example radar, and camera LiDAR has some compensations. Particularly under poor lighting conditions, it allows high-resolution and detailed depth perception. For automatic driving functions, where precise object identification and localization are important, LiDAR does a world of good.

Based on vehicle type, the fastest growth will be by car. As a result of the current infra and road network built for conservative vehicles, cars have an edge in this industry. It is simpler to install and integrate autonomous cars as they can take advantage of the vast road networks, availability of parking lots, and charging infra presently in place.

 Due to the growing environmental awareness, the demand for robotaxis is on the rise, and this trend will continue in the years to come as well.

Read More

Increasing Customer Spending on Vehicles Boost Automotive Glass Market

The automotive glass market is estimated to touch USD 2,317.8 million in 2023, which will touch USD 3,310.4 million, propelling at a 5.3% compound annual growth rate, by 2030.

The progression of this industry is primarily ascribed to the constant rise in automotive manufacturing all over the world. Moreover, the demand for glass with enhanced safety features is increasing due to the rising focus of the automobile sector on passenger safety.

Furthermore, government guidelines also mandate specific safety features, which has encouraged the implementation of laminated and tempered glass, which is durable.

The laminated category, based on glass, will be a significant contributor to the industry, with a 45% share, in 2023. The increasing customer requirement for luxury, comfort, and safety is making this material a popular option among automobile manufacturers, mainly in high-end vehicle models.

The windshields category, on the basis of application, will account for the largest automotive glass market share, in 2023. This can be because windshields are essential to guarantee passengers’ safety. They act as a physical barrier between the exterior and safety, defending residents from insects, flying objects, rain, wind, or various other possible hazards.

Furthermore, to comply with the shifting requirements of vehicle consumers, original equipment manufacturers are cooperating with component makers to enhance glass safety, usefulness, and performance.

APAC will be a significant contributor to the automotive glass industry, with a share of 45%, in 2023, and it will further propel at a 5.0% CAGR during this decade. This can be ascribed to the flourishing automobile sector of this region, which led to the surging sales and production of automobiles in India and China.

In addition, the number of middle-class populaces who own automobiles is increasing continuously, leading to the surging need for automotive glass in this region.

Read More

Zinc Chemicals Market Will Reach USD 1,485.6 Million By 2030

The global zinc chemicals market has garnered USD 1,050.5 million in revenue in 2023, and it is projected to rise at the rate of 5.2% from 2024 to 2030, to capture USD 1,485.6 million by 2030. 

This is mainly credited to the growing utilization of these chemicals in the healthcare, agriculture, construction, and automotive sectors and the rising research and development linked to the improvements in Zn nanoparticles.

The zinc oxide category grips a key revenue share in the industry. This is credited to the rising utilization of skincare items, as it has antibacterial and anti-aging properties and zinc oxide nanoparticles are utilized for killing choosy cancerous cells. It also has numerous antiseptic properties that aid in curing injuries and evading contagions that are caused by microorganisms, and it also works as a physical barrier. Along with these, it aids in avoiding allergies and rashes.

For example, as per the government sites, approximately 33% of the present populace and over 40% of the populace by 2030 will live in metropolises in India, which also surges the requirement for approximately 25 million housing units. This will fuel the development of the construction sector, which, ultimately, will boost the industry.

On the basis of end-users, the rubber processing category is dominating the industry. This is mainly because of the fact that zinc chemicals are extremely utilized in the rubber sector, because of their beneficial physical, chemical, and optical properties for rubber processing and also work as an activator in the sector.

The need for these chemicals is growing for the making of personal care items as they have an extensive variety of benefits in cosmetics and can be utilized as a bulking and colorant. 

These have been used in sunscreens for shielding against UV radiation and also utilized in over-the-counter medications for diaper rashes to shield the skin. Furthermore, they are permitted by the U.S. Food and Drug Administration and numerous establishments in Canada, Australia, Japan, and the European Union.

Read More

Sodium Hydroxide Market Will Reach USD 71.8 Billion By 2030

The global sodium hydroxide market has garnered USD 51.8 billion in revenue in 2023, and it is projected to rise at the rate of 4.9% from 2024 to 2030, to capture USD 71.8 billion by 2030. This development of the market can be credited to the thriving housing and non-residential building activities worldwide. Here, the chemical is utilized to make concrete with a high compressive strength.

The need for aluminum oxide is increasing in several industries, like construction and automobiles, for the making of electrical wiring, body frames, lamps, wheels, transmissions, paints, anti-corrosion materials, condensers, and wear- and abrasion-resistant parts. This is mainly because it is a lucrative product and provides high toughness, less heat radiation, and high constancy at high temperatures.

Chemicals are very important in everyday human life, being utilized for the making of detergents, paints, textiles, and fragrance products, among a whole lot of other things. Furthermore, the increasing need for ecological items worldwide could be helpful for the chemical sector.

In 2023, on the basis of grade, the 50% aqueous category generated the largest revenue share, of 45%, and the category is also projected to hold its dominance during the projection period. This is mainly because this grade is more hygroscopic and can simply adsorb moisture from the atmosphere.

Thus, the 50% aqueous solution is favored for industries that require to use of corrosive soda across an extensive variety of applications. On a production scale, the majority of sodium hydroxide is treated with 50 % aqueous solution and sold in drums. Furthermore, the creation of in situ sodium methylate at bioethanol production and biodiesel processing is aided by a percentage of 50 % hydroxide to pH adjustment.

The APAC region is dominating with the largest income share of the sodium hydroxide market, at around 40%. This can be credited to the fast industrial growth in the region and improvements in the field of healthcare. Furthermore, the rising demand for the base chemical for numerous applications, like soap manufacturing and pH adjustment, and increasing government expenditure on the infrastructure, pharmaceutical, paper many other sectors that utilize NaOH in some capacity, boost the industry.

 

Read More

Compressor Rental Market Will Touch USD 7,439.6 Million in 2030

The compressor rental market is estimated to generate USD 5,104.2 million in 2023, which will touch USD 7,439.6 million, progressing at a 5.7% compound annual growth rate, by 2030.

The progression of this industry is because of the extensive application of compressors across different sectors, including automotive, aerospace, construction, and manufacturing. Moreover, the demand for energy-effective compressors is also increasing, and rental businesses are putting more effort into leveraging this.

The electrically driven category, on the basis of drive type, will advance at a considerable rate during this decade, of 5.7%. This can be primarily because of its better power efficiency as compared to conventional gasoline or diesel-driven compressors. In addition, these types are also easy to maintain and low-priced.

The construction category, based on industry, will be the largest contributor to the compressor rental market, with a 25% share, in 2023, and it will continue this trend during this decade. This can be ascribed to the advancing construction sector, which extensively utilizes compressed air to power pneumatic tools, including nail guns, jackhammers, air drills, and impact wrenches.

APAC is leading the industry, with a share of 55%, in 2023, and it will remain leading throughout this decade. This can be ascribed to the existence of several developing nations in this region. Moreover, the regional industry is also driven by the presence of rental businesses that offer cutting-edge models with features like predictive maintenance, real-time data analytics, and remote monitoring.

The North American compressor rental industry is the second-largest contributor. This is because of the region's advanced end-use sectors, coupled with the stringent government rules concerning carbon footprint reduction and sustainable development.

Read More

Garage Equipment Market To be Led by Independent Garages

The size of the garage equipment market is about USD 9,320.5 million in 2023, which will touch USD 13,390.8 million by 2030, powering at a compound annual growth rate of 5.4% by the end of this decade. 

This is as a result of the enormous increase in the production and vehicle sales, because of tech progressions and the snowballing populace all over the globe. 

The industry is strongly powered by the advent of autonomous vehicles, carrying exclusive needs and challenges for repairs and maintenance. 

They are unified with sophisticated computing systems and sensors; therefore, they need particular diagnostic apparatus to access and understand data from these intricate systems. This leads to heavy funds in cutting-edge tools and software for finding and solve these precise issues.

Independent garages dominate the garage equipment market with a share of 65%, and it will grow at a rate of about 5.8%. 

This is as a result of the flexibility and autonomy they offer to customers, as they are not bound by the strategies of large repair shop networks or OEM. They offer the flexibility to customers to pick maintenance plans as per their precise requirements and budget.

The emission equipment will grow the fastest at a rate of more than 6.3%, in the years to come and hold a share of about 20%. 

The dominance of the region is because of its robust and cutting-edge automotive sector. There is a long history of production of vehicles, innovation, and tech progressions. There is also the highest rate of vehicle ownership per capita at a global level in the region. The large count of automobiles on the road produces an incessant requirement for repair services and equipment. 

 The introduction of autonomous and electric cars all over the world has a lot to do with the increasing demand for garage equipment. The trend will continue in the years to come as well.

Read More

Industrial Cleaning Chemicals Market Will Reach USD 62,756.9 Million By 2030

The global industrial cleaning chemicals market has garnered USD 46,212.9 million in revenue in 2023, and it is projected to rise at the rate of 4.6% from 2024 to 2030, to capture USD 62,756.9 million by 2030. 

This growth of the market can be credited to the growing occurrence of viral and infectious illnesses throughout the world, increasing knowledge regarding hygiene, government steps for cleaner metropolises, and rising need for such agents in healthcare settings and food processing plants. At all such places, disinfectants & sanitizers are being progressively used for this purpose.

This is mainly because they are a vital active ingredient of such items, allowing the effective elimination of numerous kinds of pollutants by decreasing the interfacial tension or the surface tension between materials like solids, liquids and gases.

Surfactants play a vital role due to their features of emulsification their sterilized makings and very effective action against aquaphobic dirt have made them the ideal choice for cleaning drives in sectors.

On the basis of product type, general-purpose cleaners dominate the market with the largest share, credited to the growing knowledge regarding hygiene. This drives the utilization of such items in corporate offices for hygiene.

In 2023, on the basis of application, the commercial category led the industry, with a share of 75%, and it is projected to stay larger throughout the projection period. The growing need for cleaning chemicals from hospitality and commercial establishments, propelled by the high position of hygiene hotels and restaurants and the emphasis on offering international-standard food facilities, boosts industry development.

In 2023, North America had the largest share, of 40%, in the industrial cleaning chemical markets. This is due to the existence of the extremely advanced U.S. and Canada, which are houses to many research institutes, hospitals world-class business centers, and commercial offices.

Read More

Cell-to-Pack Battery Market was Led By the Prismatic Category

 The cell-to-pack battery market is valued at USD 5,412.1 million in 2023, powered to reach a value of USD 27,871.9 million by 2030, powering at a considerable compound annual growth rate of 26.8% during 2024–2030. 

This is as a result of the widespread usage of these batteries in e- vehicles, powered by the increasing environmental concerns and increasing pollution levels. This brings about an increase in the requirement for high-energy density batteries, which could boost the driving range of the vehicles.

Governments all over the world are mandating the use of e- buses in urban areas to decrease the level of pollution, boosting the requirement for cell-to-pack battery.

The prismatic category had the largest share, of 60%, and it will grow at a considerable rate, of about 28% in the years to come. 

This is for the reason that, prismatic cells are more consistently shaped, which is the reason designing efficient thermal management systems turn out to be simpler. 

APAC cell-to-pack battery market has the highest revenue, of USD 2.5 billion, and it will grow at a substantial rate, of 30%, to continue its ascendency in the years to come. 

This is because of the presence of the major battery manufacturers and the increasing requirement for electric vehicles in the region. The growing populace and increasing levels of pollution have created an enormous requirement for sustainable practices. 

Moreover, China has played a considerable part in the growth of the regional industry as it is an important producer of these sources of power and electric vehicles at a global level.

Furthermore, the regional governments are offering financial incentives and other support for promoting the growth and acceptance of EVs. India’s EV industry is also increasing due to tech progressions and the increasing requirement for EVs. 

It is because of the surge in the requirement of high-energy demand batteries all over the world, the demand for cell-to-pack batteries will increase notably in the years to come.

Read More

Automotive Manufacturing Equipment Market Will Reach USD 14,260.4 Million By 2030

The global automotive manufacturing equipment market has garnered USD 6,810.5 million in revenue in 2023, and it is projected to rise at the rate of 11.3% from 2023 to 2030, to capture USD 14,260.4 million by 2030. This growth of the market can be credited to the quickly rising vehicle demand and the growing acceptance of automation and robotics technologies to fulfill the growing automotive requirement.

Numerous establishments have accepted AI and progressive technologies, because of their numerous advantages, to advance quality, aid fulfill the need on time, fuel the supply chain, and operate functions easily.

In recent years, electric vehicle production businesses have attained substantial growth. This is because of the altering customer preferences, government guidelines and help, and the rising knowledge among individuals regarding the advantages of EVs and their positive effect on the atmosphere. 

During the projection period, the automatic category is projected to advance at a higher CAGR, of approximately 11.5%. In the automobile sector, automatic technologies are accepted extensively due to their work productivity, high quality, and utmost efficiency. 

Also, automatic manufacturing technologies can accomplish tasks without the participation of humans, because of which the price of manufacturing is decreased with supreme making output. Additionally, such technologies aid in making vehicles’ making facilities more effective and progressive.

The APAC automobile manufacturing equipment market is projected to advance at the uppermost CAGR, of approximately 12%, during the projection period. This is mainly because the region contains key nations, like India, China, Japan, and South Korea, manufacturing vehicle systems, and businesses are spending on mechanization and robot technologies to decrease labor prices and improve work efficiency, in the region.

Read More

Automotive Fuse Market has the Highest Revenue in the APAC Region

The automotive fuse market is valued at USD 2,648.6 million in 2023, which will reach USD 3,043.9 million by 2030, at a compound annual growth rate of 1.8% by the end of this decade. As every car requires more than a few fuses for protecting electrical systems, the vehicles produced and sold regulates the size of the automotive fuse sector.

For the reason that blade fuses have a long history of reliable use, manufacturers and engineers have started trusting them, which resulted in their extensive usage in more than a few different automobiles. Blade fuses' standing for reliability is supported by their dependable tech, strict testing, and adherence to safety guidelines. Understanding blade fuses makes automobile assembly and upkeep simpler.

All kinds of vehicles, as well as motorbikes, trucks, passenger cars, commercial vehicles, and can use fuses with current ratings under 40 A. The extensive usage of 40 A fuses in the automotive business is an outcome of its broad pertinency across numerous vehicle types.

The APAC automotive fuse market had a considerable share, of 45% in 2023, and its revenue contribution lwith a rate of 2.7% by the end of this decade. The automobile manufacturing is now centered in the Asia-Pacific. 

The increasing acceptance and acceptance of hybrid and electric vehicles have been key growth drivers for the accusing inlet fuse market. The requirement for EVs has augmented as more customers choose maintainable and energy-saving transport options, directly contributed to a surge in the requirement for charging input fuses.

It is because of the increasing requirement for specialized fuses, growing popularity of hybrid and electric vehicles, the demand for automotive fuse will continue to increase in the years to come.

Read More

Air Brake System Market Will Reach USD 4,079.8 Million By 2030

The global air brake system market has garnered USD 3,021.2 million in revenue in 2023, and it is projected to rise at the rate of 4.7% from 2023 to 2030, to capture USD 4,079.8 million by 2030.

This is mainly because of the wide utilization of such components in heavy commercial automobiles as they offer dependable performance, simultaneous and powerful braking, independence from engine energy, and several other benefits. The fast industrialization and urbanization, combined with an increasing populace, are directing the beginning of construction and building activities on a massive scale. This, ultimately, generates a high need for the transport of raw materials by semi-trailer tractors, and trucks, all of which use this braking technology.

The industry is mainly being propelled by the surge in the making and sale of light- and heavy-duty trucks. Technical progress and the mounting emphasis on growing the making capacity have caused automated assembly lines; therefore, vehicle production endures to boom. Furthermore, as trucks commonly carry heavy masses across mountains, air brakes are essentially combined into them.

Additionally, with the rise in the pace of urbanization, distributing goods in metro metropolises has become a test for vendors. Mainly because of this light-duty trucks are experiencing a significant development in utilization as they are utilized to transport goods in jammed areas. This has made way for motorized component producers worldwide to make better and enduring components, guaranteeing a lengthier life and tougher safety, for light-duty vehicles as well.

In recent years, the drum category dominated the industry with the largest industry share, of 70%, and it is projected to grow with a substantial CAGR, of 4%, during the projection period. This is mainly because of the lesser price of drum brakes than the disc variants.

Furthermore, the latter are easy to manufacture and maintain; this makes it particularly attractive in price-sensitive markets. Moreover, they have been used in different types of vehicles such as cars, trucks, and trailers for a long time. Their adaptability and familiarity are, to a large extent, the driving force for their use in diverse applications.

The APAC region is dominating the air brake system market with a revenue share of 50%, and the region is projected to display a development rate of 5%. This is mainly because it is the residence of a few of the world’s major automotive producers, like Xiamen Kinglong, Tata Motors, Toyota, Zheng Zou Yutong, and Ashok Leyland.

This has made India, China, and Japan 3 of the most protuberant automotive industries in the world. Additionally, APAC holds more than 60% of the worldwide commercial vehicle making. China made a record 3.17 million commercial vehicles in 2022, while the second position is held by Japan produced 1.27 million units.

Read More