The increase in sales and production of commercial vehicles across the globe is a major factor driving the heavy commercial vehicle air brake systems market.
According to our latest study, “Heavy Commercial Vehicle Air Brake Systems Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component, Type, Technology, Distribution Channel, Vehicle Type," the market was valued at US$ 21.69 billion in 2023 and is expected to reach US$ 42.48 billion by 2031; it is estimated to record a CAGR of 8.8% from 2023 to 2031. The report includes growth prospects owing to the current heavy commercial vehicle air brake systems market trends and their foreseeable impact during the forecast period.
Stringent Government Regulations to Boost Safety Measures in Automobiles
Strict safety regulations and technological developments primarily influence the growing importance of braking systems for heavy trucks. Increasing government regulations demand advanced braking technologies such as anti-locking braking systems (ABS) and advanced driver assistance systems (ADAS) for improving vehicle safety and performance. Technological innovations, including air disc brakes and electronically controlled air brake systems, further fuel market development. The expansion of the heavy commercial vehicle sector and fleet upgrades fuel the demand for heavy commercial vehicle air brake systems. Environmental concerns and the rise of electric and hybrid trucks demand specialized brake systems. Additionally, competitive market scenarios and consumer preferences for improved safety and driving experience contribute to the ongoing evolution of heavy commercial vehicle air brake systems.
Heavy Commercial Vehicle Air Brake Systems Market Analysis — by Region
Heavy Commercial Vehicle Air Brake Systems Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Compressor, Reservoir, Foot Valve, Brake Lining and Drum or Rotors, Brake Shoes, and Others), Type (Air Disc Brake and Air Drum Brake), Technology (Conventional Air Brake System, Electronically Controlled Air Braking System, and Antilock Braking System), Distribution Channel (OEMs and Aftermarket), Vehicle Type (Bus, Truck, Construction Equipment, and Tractor), and Geography
Heavy Commercial Vehicle Air Brake Systems Market Size 2031
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Source: The Insight Partners Analysis
The Government of India has made it mandatory for all commercial vehicles, such as buses and trucks manufactured from April 1, 2015, onward to have ABS. National Highway Traffic Safety Administration (NHTSA), which is a part of the US federal government, part of the Department of Transportation, focuses on transportation safety in the US and majorly presents regulatory standards that are directly linked to the manufacturing of heavy-duty commercial vehicles and parts. Additionally, numerous regulations are directing specific safety rules and guidelines for heavy commercial vehicles. Federal Motor Vehicle Safety Standards and Air Brake Systems is a rule that amends the Federal motor vehicle safety standard and air brake systems to enhance the stopping distance performance of truck tractors. 49 CFR Part 571 regulation demonstrates guidelines specifically for heavy truck tractors to follow for safe operations.
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 key companies operating in the heavy commercial vehicle air brake systems market. Companies in the market adopt strategies such as geographical expansion, new and innovative product launches, and joint ventures to be competitive in the market. Apart from these the key players in the heavy commercial vehicle air brake systems market, several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.
Based on component, the heavy commercial vehicle air brake systems market is segmented into compressor, reservoir, foot valve, brake linings and drums/rotors, and brake chambers and slack adjusters. The market, in terms of type, is bifurcated into air disc brake and air drum brake. Based on technology, the heavy commercial vehicle air brake systems market is segmented into conventional air brake systems, electronically controlled air brake systems (ECAS), and anti-lock braking systems (ABS). The market, in terms of distribution channel, is bifurcated into OEM and aftermarket. Based on vehicle type, the heavy commercial vehicle air brake systems market is segmented into bus, truck, trailers and construction equipment, tractor, and others.
The scope of the heavy commercial vehicle air brake systems market report focuses on North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
The heavy commercial vehicle air brake system market is witnessing prominent growth in Asia Pacific, North America, and Europe. Asia Pacific held the largest heavy commercial vehicle air brake systems market share in 2023. Robust industrialization is a key factor influencing the growing demand for commercial vehicles across Asia Pacific. The growing implementation of high-end, heavy-duty commercial vehicles for goods transportation and logistics is boosting the demand for air brake systems in trucks, buses, trailers, and tractors. Furthermore, numerous initiatives by local and state governments are promoting on-road vehicle safety programs and policies, which are boosting the application of air brake systems in heavy-duty commercial vehicles.
The General Safety Regulation (GSR) is the European Union’s regulation that addresses both safety issues and the development of digital technology for manual and autonomous vehicles. In 2021, almost 20,000 deadly road accidents were recorded in the European Union. Heavy vehicles were included in ~14% of those accidents. The GSR is a major part of the EU’s ‘Vision Zero’ initiative, which aims at zero fatalities on European roads by 2050 under the new regulation. Vision Zero initiative mandates every bus and truck registered in Europe by vehicle manufacturers from July 2024 onwards to include eight specific automatic driver assistance safety features—emergency stop signal, tyre pressure monitoring system, blind spot information system, reversing information system, moving off information system, alcohol interlock facilitation installation, driver drowsiness and inattention warning, and intelligent speed assistance. Thus, growing government focus on enhancing heavy commercial vehicle safety by implementing strict regulations is acting as a major driver for the heavy commercial vehicle air brake systems market across Europe.
The heavy commercial vehicle air brake system market in North America is observing significant growth, owing to the rising adoption of advanced brake systems in heavy-duty commercial vehicles to enhance vehicle safety features across the region.
The growing automotive manufacturing infrastructure development and the increasing number of OEMs are anticipated to boost the heavy commercial vehicle air brake system market growth in countries (such as Saudi Arabia, Brazil, and Argentina) across the Middle East & Africa and South America. The usage of air brakes in South America is steadily growing owing to numerous government initiatives to promote heavy commercial vehicle safety measures. The rising demand for air brake systems in heavy-duty tractors and buses propels the heavy commercial vehicle air brake system in South America.
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