PORTLAND, Oregon, Jan. 21, 2020 /PRNewswire/ — Allied Market Research published a report, titled, “Air Brake System Market by Type (Air Disc Brake, Air Drum Brake), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber, Slack Adjuster, and Others), and Vehicle Type (Trucks, Bus, and Rolling Stock): Global Opportunity Analysis and Industry Forecast, 2018–2026.” According to the report, the global air brake system industry generated $4.81 billion in 2018, and is expected to reach $6.59 billion by 2026, registering a CAGR of 4.4% from 2019 to 2026.
Drivers, restraints, and opportunities
Surge in sales & production of commercial vehicles & off-highway trucks and surge in number of railways & high-speed trains drive the growth of the global air brake system market. However, higher cost of air brakes as compared to hydraulic brakes and rise in focus on electric trucks & buses hinder the market growth. On the other hand, regulations related to load carrying capacity and mandates on air brakes installation create new opportunities in the market.
Download Report Sample: https://www.alliedmarketresearch.com/request-sample/5593
The air drum brake segment to maintain its leadership status during the forecast period
Based on type, the air drum brake segment held more than four-fifths of the total share of the global air brake system market in 2018, and is estimated to maintain its leadership status during the forecast period. This is due to wide usage of safety components and increased production & sales of vehicles across the globe. Moreover, the air disc brake segment is expected to grow at the fastest CAGR of 5.4% from 2019 to 2026, owing to the trend of automation and technological advancements.
The rolling stock segment maintain its dominant position by 2026
Based on vehicle type, the rolling stock segment contributed the highest market share in the global air brake system market, accounting for more than two-fifths of the market share in 2018, and is expected to maintain its dominant position during the forecast period. This is attributed to the introduction of automation in railways across the globe. However, the truck segment is expected to grow at the highest CAGR of 5.3% from 2019 to 2026. This is due to increased production and sales of the vehicle across the globe.
North America to maintain its highest contribution in terms of revenue by 2026
Based on region, North America contributed to the largest market share, accounting for more than two-fifths of the global air brake system market in 2018, and is expected to maintain its highest contribution in terms of revenue during the forecast period. This is due to adoption of advanced technology along with the constant development in air brake systems. However, Asia-Pacific is expected to maintain the fastest CAGR of 5.4% from 2019 to 2026, owing to wide applications of air brakes in vehicles with increased transportation having an efficient safety and security system.
Make Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/5593
Leading market players
- Knorr-Bremse
- Wabco
- Meritor
- Haldex
- ZF Friedrichshafen AG
- Wabtec
- Nabtesco
- TSE Brakes
- Federal-Mogul Sorl Auto Parts
Avenue Basic Plan | Library Access
Avenue, a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. Avenue is a premium subscription-based model that serves as an informative solution on which the world-leading companies can rely on.
Get more information: https://www.alliedmarketresearch.com/Avenue-Membership-details
Similar Reports:
Industrial Brakes Market to Reach $1,074 Million by 2023
Autonomous Emergency Braking System Market to Reach $33.9 Billion, Globally by 2023
Advanced Driver Assistance Systems (ADAS) Market is Expected to Reach $ 189,142.9 million by 2026
Pre-book Offer 12% Discount:
Automotive Repair and Service Market Research Report 2020-2025
Brake Systems Market Research Report 2020-2025
Brake Override System Market Research Report 2020-2027
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected]
Web: www.alliedmarketresearch.com
Follow us on: https://www.linkedin.com/company/allied-market-research
SOURCE Allied Market Research
