The Air Brake System Market size is estimated at USD 3.60 billion in 2024, and is expected to reach USD 4.13 billion by 2029, growing at a CAGR of 2.80% during the forecast period (2024-2029).
Over the medium term, the demand for commercial trucks and buses witnessed a rise in sales and production, particularly in the logistics and construction sectors, which is likely to drive the growth of the market significantly during the forecast period.
The development of major infrastructure projects in several regions, encompassing the construction of highways, feeder roads, ports, and airports, is playing a pivotal role in bolstering the demand for heavy-duty trucks, which is anticipated to enhance the demand for air brake systems in the coming years.
Electric vehicles (EVs) are growing rapidly due to the specific manufacturing requirements of EV components. The demand for lightweight and high-performance components has increased, creating a lucrative opportunity for the market.
The air brake system market is dominated by several key players, such as Knorr-Bremse AG, Wabtec Corporation, ZF Friedrichshafen AG, Haldex Group, and others. The market is expected to witness significant growth during the forecast period due to the rapid expansion of manufacturing industries and growing strategic development among key players worldwide.
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