Summary

The Heavy Commercial Vehicle Air Brake Systems Market size was valued at US$ 21.70 billion in 2023 and is expected to reach US$ 42.48 billion by 2031. The Heavy Commercial Vehicle Air Brake Systems Market is estimated to record a CAGR of 8.8% from 2023 to 2031.

The Global Heavy Commercial Vehicle Air Brake Systems Market is segmented into North America, Europe, Asia Pacific, South America (SAM), and the Middle East and Africa (MEA). The US, Canada, and Mexico significantly contribute to the automobile industry in North America. The expansion in industrialization is driving the demand for heavy commercial vehicles in the region. The growing production and sales of heavy commercial vehicles are fueling the application of air braking systems, thus driving the heavy commercial vehicle air brake systems market. The rising number of native vehicle manufacturers in North America is anticipated to create ample opportunity for the heavy commercial vehicle air braking systems market. Original vehicle manufacturers widely leverage air braking systems to produce advanced features-based commercial vehicles. The presence of prominent automotive manufacturers and component manufacturers is propelling the market value. The economic growth of North America has positively impacted the sale of commercial vehicles, which is also boosting the demand for air brakes across the region.

Based on vehicle type, the heavy commercial vehicle air brake systems market is segmented into buses, trucks, trailers and construction equipment, tractors, and others. The rising industrialization and growing development in the oil and gas and mining sectors are acting as a major driver for heavy duty commercial vehicles. In addition, the rising adoption of heavy-duty tractors is fueling the application of air brake systems in the heavy commercial vehicles sector. Air brake function uses compressed air to facilitate and control the braking process in heavy vehicles such as trucks. The system involves several key components, including an air compressor, valves, reservoir tanks, hoses, brake shoes or pads, and brake chambers. When the driver pushes the brake pedal, compressed air stored in the reservoir tanks is released through hoses and valves to the brake chambers. This release of air pressure activates the brakes, resulting in the brake shoes engaging with the drums or rotors, generating friction and braking down the vehicle. Air brakes serve a critical purpose in trucks by offering competent braking mechanisms tailored to handle their considerable weight and specific braking requirements.

Knorr-Bremse Commercial Vehicle Systems GmbH.; Doctor Air Brake; Cojali S.L; Bremse AG; Meritor, Inc.; Haldex AB; ZF Friedrichshafen AG; Wabtec Corporation; Nabtesco Corporation; TSE Brakes Inc.; Federal-Mogul; and SORL Auto Parts are among the prominent players profiled in the Heavy Commercial Vehicle Air Brake Systems Market report. Several other major players were also studied and analyzed in the Heavy Commercial Vehicle Air Brake Systems Market report to get a holistic view of the market and its ecosystem.

The overall Heavy Commercial Vehicle Air Brake Systems Market share has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Heavy Commercial Vehicle Air Brake Systems Market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Heavy Commercial Vehicle Air Brake Systems Market.