Knorr- Bremse AG (Germany) and Meritor, Inc. (US) are leading players in Air Brake System Market
The air brake system market, by value, is projected to grow to USD 3.4 billion by 2028 from USD 3.1 billion in 2023, at a CAGR of 2.2% from 2023 to 2028. The base year for the report is 2022 and the forecast period is from 2023 to 2028. 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 primarily dominated by globally established players such as Knorr- Bremse AG (Germany), Meritor, Inc. (US), Haldex (Sweden), ZF Friedrichshafen AG (Germany), and Wabtec Corporation (US). These companies are consistently developing new products, adopting expansion strategies, and undertaking collaborations, partnerships, and mergers & acquisitions to gain traction in this air brake system market across different regions.
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Knorr-Bremse AG is a global leader in manufacturing and supplying braking systems and other safety-critical systems for the rail and commercial vehicle industries. The company specializes in developing, producing, and distributing braking systems and various other systems and components related to vehicle control and guidance. Knorr-Bremse AG 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.
Meritor, Inc. was established in 1997 after the spun-off by Rockwell International. The company is headquartered in Michigan, US Meritor and focuses on providing drivetrain, mobility, and braking solutions for commercial vehicles. Meritor offers various products, including axles, brakes, drivelines, and suspension systems. 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 January 2020, Meritor, Inc. announced its aftermarket air disc brake (ADB) rotors for all models of linehaul, refuse, vocational, coach and trailer applications. This rotor was designed with high-quality cast iron for low peak temperatures during the brake operation. The cooling vanes that were offered in this product were similar to the Meritor Genuine first-fit rotors specified for OE use.
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 2028
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