Global Automotive Air Brake System Market 2021-2025
Technavio has been monitoring the automotive air brake system market and it is poised to grow by $ 847.25 mn during 2021-2025, progressing at a CAGR of almost 6% during the forecast period. Our report on the automotive air brake system market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the increasing demand for heavy-duty vehicles, increasing preference for air brake systems in medium-duty vehicles, and the increasing adoption of electronically controlled braking systems in trucks and buses. In addition, the increasing demand for heavy-duty vehicles is anticipated to boost the growth of the market as well.
The automotive air brake system market analysis includes the application segment and geographic landscape.
Technavio's automotive air brake system market is segmented as below:
By Geographical Landscape
- North America
- South America
This study identifies the increasing preference for lightweight brake components as one of the prime reasons driving the automotive air brake system market growth during the next few years. Also, improvements in supply chain strategies and the use of truck brake dust filters to improve air quality will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on automotive air brake system market covers the following areas:
- Automotive air brake system market sizing
- Automotive air brake system market forecast
- Automotive air brake system market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading automotive air brake system market vendors that include Akebono Brake Industry Co. Ltd., Haldex AB, Knorr-Bremse AG, Meritor Inc., Minda Industries Ltd., Nabtesco Corp., SORL Auto Parts, Inc., TBK Co. Ltd., Wabtec Corp., and ZF Friedrichshafen AG. Also, the automotive air brake system market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.