Market Leader - Air Brake System Market
The air brake system market is projected to grow from USD 4.5 billion in 2018 to USD 5.6 billion by 2025, at a CAGR of 3.31% during the forecast period. The major driving factors of the air brake system market are increasing sales and production of commercial & OHV trucks, increasing railways & high-speed trains and fail-safe nature of air brakes compared with that of hydraulic brakes.
The air brake system market is dominated by global players and comprises several regional players. The key players in the air brake system market are Knorr-Bremse (Germany), Wabco (Belgium), Meritor (US), Haldex (Sweden), ZF (Germany), Wabtec (US), Nabtesco (Japan), TSE Brakes (US), Federal-Mogul (US), and SORL Auto Parts (China).
Partnerships & supply contracts and new product development are the two most prominent strategies to expand business in the air brake system market. For example, Wabco entered into a partnership agreement with Nidec to develop, manufacture, and commercialize fully integrated electric drivetrain and brake control solutions for longitudinal control of commercial vehicles in 2018. It was initially planned to deploy these technologies in city buses and electric trailer solutions, and these solutions would be available for heavy commercial vehicles at a global level. Federal-Mogul Motorparts introduced New Brake Rotors for the commercial vehicle market under its Abex Brand in 2018. This rotor is designed to work in conjunction with its Air Disc Brake (ADB) pads, and these new products are available across 8 different class applications. Abex offers a pad and rotor combination for Bendix, Meritor, and Wabco air disc brake systems.
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Knorr-Bremse adopted the strategies of new product development, partnership, and acquisition to retain its leading position in the air brake system market. In August 2018, Knorr-Bremse introduced 2 new disc brakes—“SYNACT and NEXTT” - for future generations of heavy-duty commercial vehicles. Compared to its predecessor, SYNACT offers new dimensions of performance and weight. Further, Knorr-Bremse also completed the acquisition of the IPR for the development and production of friction materials for rail vehicles and industrial applications from Federal-Mogul.
Alternatively, Meritor adopted supply contracts, new product developments, and expansion strategies to sustain its market position. In March 2018, Meritor received a supply contract from Daimler Trucks North America (DTNA) to provide EX+L air disc brakes. These EX+L air disc brakes will be a standard on all wheel positions for DTNA’s new Freightliner Cascadia model to further enhance safety and performance. In September 2017, Meritor introduced the EX+ air disc brakes compatible with tractors and trailers. The EX+ air disc brake has been weight-optimized by 10 pound per brake without sacrificing performance and offers the lightest-weight truck air disc brakes in the market. Also, in October 2017, the company opened an aftermarket distribution center in Santa Fe Springs, California, to fulfill aftermarket orders from warehouse distributors and dealers in 13 states. The facility stocks the complete Meritor Aftermarket brand portfolio for customers in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, and Wyoming.
Related Reports:
Air Brake System Market by Type (Disc & Drum), Component (Compressor, Governor, Tank, Air Dryer, Foot Valve, Brake Chamber & Slack Adjuster), Rolling Stock, Vehicle Type (Rigid Body, Heavy-Duty, Semi-Trailer & Bus), Region - Global Forecast to 2025
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