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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- According to the Bureau of Transportation Statistics, the number of trucks registered in the United States in 2022 was 172,932,334.
- As per industry reports, China's automobile output is expected to reach 35 million units by 2025, signifying substantial growth expected in the industry.
- According to BITRE, the total number of registered vehicles in Australia in 2023 was 21,168,462, indicating a substantial growth.
Automotive Air Brake System Market Competitive Landscape
The companies are a provider of braking systems, drivelines, axles, air braking systems and other solutions for commercial and rail vehicles.
Knorr-Bremse AG: Established in 1905 and headquartered in München, Bayern, this company is the worldwide leader in braking systems and a prominent supplier of systems for rail and commercial vehicles.
Meritor, Inc (NYSE: MTOR): Established in 1909 and headquartered in Troy, Michigan, the company specializes in advanced drivetrain systems, including axles, brakes, suspensions, drivelines, and aftermarket components for commercial and industrial applications.
Haldex AB: Founded in 1187 and based in Landskrona, Sweden. The company innovates and delivers dependable solutions that enhance safety, vehicle dynamics, and environmental sustainability across the global commercial vehicle sector.
SORL Auto Parts, Inc.: Established in 1987 and based in Zhejiang, China. The company offers various products including air brake systems, tubes and fittings, abs & diagnosis, power steering pumps, and others.
Other global automotive air brake system market key players are ZF Friedrichshafen AG (ZF Wabco), and Nabtesco Automotive Corporation, among others.
Automotive Air Brake System Market Report Snapshots
Automotive Air Brake System Market Size
Automotive Air Brake System Market Growth
Automotive Air Brake System Market Trends
Automotive Air Brake System Market Share
Automotive Air Brake System Companies
Automotive Air Brake System Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The automotive air brake system market was valued at USD 4.85 billion in 2023.
The automotive air brake system market is projected to grow at a CAGR of 3.10% between 2024 and 2032.
The market is being driven by the rising preference for air brake systems in medium-duty vehicles and the introduction of various stringent regulations by governments to bolster safety measures in automobiles.
The market growth in the forecast period can be ascribed to the increasing deployment of automotive air brakes over hydraulic brakes in heavy-duty vehicles.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The market is categorised according to the type, which includes air drum brake and air disk brake.
The market is categorised according to the vehicle type, including rigid-body trucks, heavy-duty trucks, semi-trailers, and buses.
Based on the component, the market is divided into compressor, governor, storage tank, air dryer, foot valve, brake chamber, and slake adjuster.
The market key players are Knorr-Bremse AG, Meritor Inc., Haldex AB, SORL Auto Parts, Inc., ZF Friedrichshafen AG (ZF Wabco), and Nabtesco Automotive Corporation, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124