Air Braking Systems Market was valued at USD 6.5 Billion in 2022 and is projected to reach USD 9.8 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
The air braking systems market was valued at approximately USD 6.8 billion in 2022, with a compound annual growth rate (CAGR) of 5.2% projected from 2023 to 2028. The market's growth is driven by increasing demand for safety and efficiency in the transportation sector, coupled with stringent regulatory standards promoting the adoption of advanced braking technologies. The expansion of the logistics and freight industries globally, especially in emerging economies, is further contributing to market growth. Technological advancements in air braking systems, such as the development of intelligent braking solutions and enhanced performance features, are expected to boost the market significantly in the coming years.
Emerging markets present substantial opportunities for growth in the air braking systems sector. Countries in Asia-Pacific, particularly India and China, are witnessing rapid industrialization and infrastructure development, leading to a higher demand for commercial vehicles equipped with advanced braking systems. Additionally, the rise in urbanization and the expansion of public transportation networks in these regions are creating further opportunities for market expansion. Investment in modernizing transportation fleets and increasing adoption of air braking systems in new vehicle models are likely to enhance market prospects in these burgeoning economies.
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Wabtec
Amsted Rail
Escorts Limited
Ametsis
Knorr-Bremse
Akebono
DAKO-CZ
European Braking Systems
CLEARSY SYSTEMS ENGINEERING
Shanghai Suyu Railway Material
JSC MTZ TRANSMASH
CRRC
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Air Braking Systems Market
Railway
Subway
Others
Based on Types the Market is categorized into Below types that held the largest Air Braking Systems market share In 2023.
Brakeshoe Brake System
Disc Brake System
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Air Braking Systems Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Air Braking Systems Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Air Braking Systems Market, By Type
6. Global Air Braking Systems Market, By Application
7. Global Air Braking Systems Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Air Braking Systems Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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