Automotive Air Brake System Market: Increasing demand for heavy-duty vehicles to drive growth
The market is witnessing an increase in the sales of heavy-duty vehicles across countries such as China, Japan, North American countries, and Western European countries. This is due to increased manufacturing activities and improvement in road infrastructure. Heavy-duty vehicles such as trucks and buses are equipped with air brake systems. Therefore, the growth in the sales of heavy-duty vehicles is expected to drive the demand for automotive air-brake systems during the forecast period.
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As per Technavio, regulations on safety solutions of heavy-duty vehicles will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.
Automotive Air Brake System Market: Regulations on Safety Solutions of Heavy-Duty Vehicles
The increasing number of road traffic crashes caused by unpredictable road conditions is compelling governments across the world to mandate the installation of safety solutions integrated with advanced technologies in conventional braking systems. This has increased the implementation of ABS, electronic brakeforce distribution (EBD) systems, and electronic malfunction detection features in commercial vehicles. The integration of such advanced technologies in automotive air brake systems is expected to positively influence the market growth during the forecast period.
"Increasing preference for air brake systems in medium-duty vehicles and an increase in the production of medium- and heavy-duty vehicles will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Automotive Air Brake System Market: Segmentation Analysis
This market research report segments the automotive air brake system market by Application (Trucks and Buses) and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the automotive air brake system market in 2021, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to growing manufacturing activities in India.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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