Global Air Brake Systems Market Size study, by Brake Type (Air Drum brake, Air disc brake), Vehicle Type (Rigid body truck, Heavy duty truck, Semi-trailer, Bus) and Regional Forecasts 2019-2026
発行: Bizwit Research & Consulting LLP
Global Air brake systems market is valued approximately USD 4.5 billion in 2018 and is anticipated to grow with a growth rate of more than 3.31% over the forecast period 2019-2026.
The air brake systems are one of the high-power braking systems that is commonly used in heavy vehicles such as buses, trucks etc. It is a power system that enables braking force that helps in creating force to the braking pads and generates a friction forces between brake and tire which tends to stop the vehicles. Air brake systems use air to generate the force and consist of compressor, air filter, reservoir, valve and brake pads. Increase in sale & production of commercial vehicles and off- highway trucks, fail-safe nature of air brakes over hydraulic brakes and increasing railways and high-speed trains are the factors driving the growth of market over the forecast years. However, costly air brakes over hydraulic brakes and increasing focus toward electric bus and trucks are the factors hampering the growth of market over the forecast years. Whereas, regulations related to load carrying capacity and mandates on air brake installation is a lucrative opportunity for the growth of market over the upcoming years. Hence, the rise in construction industry across the globe fuels the growth of market in future. According to the United Nations Department of Economic and Social Affairs in 2018, it is estimated that 55% of the total world's population lives in urban area and it expected to rise to 68% by 2050.The rising urbanization across the globe supports the rise in construction industry as it is projected that the most urbanized region includes North America, Latin America and the Caribbean, Europe and Oceanic. The level of urbanization in Asia is approximately 50% of the total population. On the contrary, Africa remains more rural, with nearly 43% of the total population living in urban areas. Hence, the rising urbanization is gaining popularity in the construction sector thereby, surge the market growth.
The regional analysis of global Air brake systems market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. The Asia pacific is the fastest growing region for the air brake system market over the forecast years owing to the largest heavy commercial vehicle production compare to another region. Also, the rising urbanization and industrialization in the developing economies such as India and China coupled with rising awareness for the vehicle and driver safety propel the growth of market over the upcoming years. Additionally, China is the leading economy in the air brake system market owing to the higher production of heavy duty trucks.
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: