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.

Global Automotive Air Brake System Market Size

The global automotive air brake system market reached a value of approximately USD 4.85 billion in 2023. The market is projected to grow at a CAGR of 3.10% between 2024 and 2032.

 

Automotive Air Brake System Market Outlook

  • 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 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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Outline the Scope

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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