Global Air Brake System Market is forecast to reach $4.9 billion by 2025, growing at a CAGR of 4.2% from 2020 to 2025. The market growth is attributed to the factor such as rising production and sales of heavy commercial vehicle, cumulative technological developments, and growing trepidations over safety, and strict government obligations to develop commercial vehicle safety and others.

Key Takeaways
Deployment of air brake system in railways and high speed train for ensuring safety and keeping the vehicle under control leverages positive impact on the market growth of air brake system.
Displacement of high volume and weight hydraulic systems by air brake system in vehicles for weight reduction and improving efficiency results in market growth of air brake system.
The market growth is due to the growing industrial sector, increasing gross domestic product (GDP), per capita income, changing lifestyle of people, investment by manufacturers, rising demand for commercial vehicles and others. This leverages a positive impact on air brake system market.

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Geography – Segment Analysis
North America held the highest market share of the air brake system market in 2019. The market growth is attributed to the factors such as implementation of advanced technology for automobiles to provide comfort and safety to the drivers as well as passengers results in increment in the demand for air brake system. Moreover rising automotive production and sales in this region enhance the market growth of air brake system. In January 2018, Haldex entered into a partnership with Fras-le. This partnership benefited Haldex to offer customers of North America a full line of all-makes air disc brake (ADB) pad repair kits. Such product launches and partnerships enhances the market growth. However, APAC region is anticipated to observe the significant market growth during the forecast period 2020-2025. For instance, in January 2020, an investment of US $110 million was made by Hyundai Motor Company and Kia Motors Corporation in a partnership with Arrival limited for the development of electric commercial vehicles.

Drivers – Air brake system market
Rising vehicle production and sales

Market Landscape
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the air brake system market. As of 2019, the market for air brake system market is consolidated with the top players including Knorr-Bremse, Wabco, Meritor, Wabtec, Nabtesco, TSE Brakes, Federal-Mogul, Silverbackhd, Mahle Aftermarket, Tata Autocomp, and among others.

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