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Apart from leveraging advanced technologies to enhance air brake features, leading market players in the air brake market are adopting innovative marketing strategies to attract end-users’ attention. Introducing air brake pad repair kits is emerging as a popular trend among manufacturers and distributors in the air brake market. Eventually, leading manufacturers are collaborating with distributors and automotive part suppliers in the automotive aftermarket industry to boost their sales across the world. Despite the stringent regulations, leading manufacturers are adopting advanced technologies to redefine the growth prospects of the air brake market in the upcoming years.
Air brakes are a type of brake system which use compressed air to stop vehicles. Air brakes are predominantly used for stopping large and heavy vehicles. Air brakes can be used as three different braking systems: service brakes, parking brakes and emergency brakes. Moreover, air brake systems consist of many components, such as air compressor, air compressor governor, air storage tanks, air tank drains, safety valve and the brake pedal. Furthermore, most of the heavy-duty vehicles use the dual air brake systems for safety. A dual air brake system has two separate air brake systems and uses a single set of brake controls. Air brakes can either be a disc or drum, which can be coupled with the ABS (anti-lock braking system) technology to improve the efficiency of the braking system. Usually, air brakes are used in place of conventional hydraulic systems in areas where there is requirement for high mechanical braking force over long distances and simplified connections and components. There are braking systems available in the market space which incorporate both air as well as hydraulic systems for improved braking performance. Furthermore, manufacturers of air brakes are constantly focusing on downsizing air brake systems alongside improving their performance characterizes, this is expected to open new horizons for the augmentation of the air brake market in the coming years.
The air brake market is directly dependent on vehicle production across the globe. With increasing vehicle production, the demand for advanced braking systems is expected to ramp up in the coming years. This is expected to promote the growth of the air brake market over the forecast period. Moreover, manufacturers are focusing on introducing advanced technology air brakes coupled with electronic systems, such as ABS and ESC, among others. This is expected to further boost the growth of the air brake market over the coming years.
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Furthermore, the air brake market is being affected by stringent government regulations to reduce the stopping distance and curb brake shoe residue. This has forced air brake manufacturers to design brake systems. They are compact in size and have improved performance characteristics which comply with government regulations, this is expected to further create opportunities for the augmentation of the air brake market over the coming years. This factor coupled with increasing preference for automotive safety and the numerous steps taken towards improving it will further increase the demand of improved braking systems across the globe.
The concept of regenerative braking is gaining traction across the automotive industry. Manufacturers are focused on formulating new technologies which will amalgamate air brakes with regenerative braking technology. This is expected to further augment the air brake market in the coming years. However, combining air brakes with electronic braking systems will certainly increase the cost of the overall system by a considerable amount. This can have a negative impact on the growth of the air brake market over the coming years.
Air brakes are predominantly used in heavy commercial vehicles. In terms of production, Asia Pacific leads the global air brake market in terms of production of heavy commercial vehicles. Owing to this, the Asia pacific region is expected to dominate the global air brake market in the coming years. Moreover, MEA and Latin America regions are expected to witness stable growth in the air brake market in the coming years. This is expected to supplement the growth of the air brake market in the region over the coming years. Europe, Japan and China are expected to drive the air brake market, this is expected to set the tone for significant growth in the air brake market in the coming years.
Air Brake Market: Key Participants
Some of the key participants identified across the value chain of the air brake market are Knorr-Bremse AG, WABCO, Haldex Europe SAS, Bendix Commercial Vehicle Systems LLCMinda Nabtesco Automotive (P) LTD., Anand Group, SORL Auto Parts, Inc., Fricción y Tecnología, S.A. de C.V., Brakes India Limited, Airmaster Brake Systems, YPS Global Otomotiv ?ç ve D?? Ticaret A.?., YUMAK Air Brake Systems
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