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.
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