Ucommune International (NASDAQ:UK) – Air Brake System Market Size Worth US$ 7.36 Billion by 2030 at 4.2% CAGR, COVID-19 Impact and Global Analysis by Emergen Research
“Air Brake System Market | Emergen Research” Growing demand for heavy truck and commercial vehicles, and rising demand for air brakes in the railway sector are driving global air brakes system revenue growth
The global air brakes system market size was USD 5.09 Billion in 2021 and is expected to register a revenue CAGR of 4.2% over the forecast period, according to the latest analysis by Emergen Research. Growing demand for heavy trucks and commercial vehicles and rising demand for air brakes in the railway sector are factors expected to drive the market revenue growth.
Rapid industrialization and urbanization in countries across various regions have led to the surge in demand for heavy trucks and commercial vehicles which use air brake systems extensively and rising demand for air brakes in the railway sector.
Additionally, rapid economic development has led to the rising demand for freight trains globally. The railroad system is excellent for moving bulk goods over long distances and is an economical and energy-efficient means of transportation. In many countries, railroads are the preferred mode of transportation over cars and other vehicles.
Governments from various countries are focusing their efforts on investments in railroads and upgrading the infrastructure for freight and high-speed trains. This is expected to increase the demand for organic air brake systems and hence drive revenue growth of the market.
Some of the key participants in this Air Brake System Market industry include:
Knorr-Bremse AG, ZF Friedrichshafen AG, Meritor, Inc., Haldex, Wabtec Corporation, Nabtesco Automotive Corporation, Brake Systems Inc., Tenneco Inc., SORL Auto Parts, Inc., and Grindlays Engine Parts Pvt. Ltd.
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The Global Air Brake System Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position.
The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects.
Some Key Highlights From the Report
On 29 May 2020, ZF Friedrichshafen AG acquired Westinghouse Air Brake Company (WABCO). WABCO is integrated into ZF as its Commercial Vehicle Control Systems Division. The acquisition benefits customers by providing them with innovative advanced technology, and an extensive product portfolio.
The air drum brake segment is expected to register the highest revenue share over the forecast period.
Drum braking systems are widely used because of their simplistic design and low manufacturing cost. In addition, compared to air disc brakes, air drum brakes are more inexpensive, simpler to manufacture, and require less maintenance.
The compressor segment is expected to grow at a rapid revenue growth rate over the forecast period. Modern compressed air brakes are designed to keep working automatically even if a leak or other problem causes a train to lose some of its compressed air supply.
A second emergency reservoir is present in the majority of systems, allowing for quick application in emergencies.
The rolling stock segment accounted for the highest revenue share in 2021. The majority of trains in the world have braking systems that drive brake blocks into wheels or brake pads onto discs using compressed air. Rising demand for rail transportation of goods as well as for railways as an inexpensive mode of transportation can drive the revenue growth of the market.
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The report studies the impact of the COVID-19 pandemic on the Air Brake System Market .The report offers valuable insights into the market size, market share, sales channel and distribution network, segmentation of the market, demands, and trends, and growth prospects.
The report also studies the growth of the market on a global and regional scale.
Scope of the Global Air Brake System Market Report :
The report performs an accurate estimation of the growth prospects of the different market segments by studying the current market scenario, past performance, demand and supply ratio, production, consumption, sales, and revenue generation of the key players in the upcoming years. The market segmentation provides a 360? view of the Air Brake System Market industry, which turns out to be beneficial for readers interested in this sector.
Global Air Brake System Market Market Research Objectives:
- To provide deep understanding of the Air Brake System Market industry.
- To highlight the critical data of each segment at extensive level.
- To determine key success factors in different segments of Air Brake System Market industry.
- To highlight the trends in specific sectors.
- To give insights into key segments.
- To carry economic analysis, build quantitative and financial models of global Air Brake System Market industry and individual segments.
- To project future performance of the global Air Brake System Market industry and identify imperatives.
- To identify risks of investing in particular segments and suggest appropriate strategies to mitigate the risks.
- To study what held back the Air Brake System Market industry during pandemic and forces that are driving up the global Air Brake System Market post-pandemic.
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Segmentation :
Emergen Research has segmented the global Air Brakes System based on type, component, vehicle type, and region:
Type Outlook (Revenue, USD Billion, 2019-2030)
Air Disc Brake
Air Drum Brake
Component Outlook (Revenue, USD Billion, 2019-2030)
Compressor
Governor
Tank
Air Dryer
Foot Valve
Brake Chamber
Slack Adjuster
Others
Vehicle Type Outlook (Revenue, USD Billion, 2019-2030)
Trucks
Bus
Rolling Stock
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
About Emergen Research
Emergen Research is a Market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions.
We offer Market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise.
Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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