Portland, OR, March 05, 2020 (GLOBE NEWSWIRE) -- According to a new report added by Big Market Research, the air brake system market was valued at $4.81 billion in 2018 and is anticipated to generate a revenue of $6.6 billion by 2026, growing at a CAGR of 4.4% from 2019 to 2026. The report provides the newest industry trends and future forecasts and allows you to identify the major drivers and end users propelling the revenue growth of the market.
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Additionally, the study offers an executive summary that includes all estimated market figures and the drivers that are anticipated to fuel the growth of the market. As per the report, growing awareness among people all over the world regarding safety and security while vehicles are propelling the demand for air brake systems. Thus, surge in the demand for air brake systems is boosting the growth of the market and is expected to bring profitable opportunities for the market players active in the Global Air Brake System Market.
An overview of each market segment such as type, component, rolling stock type, vehicle type and region is also provided in the report. Depending on type, the report divides the air brake system market into air drum brake and air disc brake. By component, the report classifies the global market into governor, compressor, tank, slack adjuster, air dryer, brake chamber, foot valve, and others. Depending on vehicle type, the report bifurcates the market into truck, bus, and rolling stock. Based on region, the report analyzes the global market across regions including North America, Asia-Pacific, Europe, and LAMEA.
With all the basic and necessary data regarding the global market, the report also provides insights about mergers & collaborations, technical advances, innovative business proposals, and new product developments. This report is formulated after detailed analysis of the market by highly experienced professionals in market research and those having deep knowledge about the air brake system industry. Furthermore, the report offers Porter’s five forces analysis which helps in understanding the potency of the buyers and suppliers in the global market.
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Lastly, the research report lists some of the top companies functioning in the global air brake system industry. Some of these top players listed in the report are Knorr-Bremse, Wabco, Meritor, Haldex, ZF Friedrichshafen AG, Wabtec, Nabtesco, TSE Brakes, Federal-Mogul Sorl Auto Parts among others. Analysts have also stated that the research and development activities of these companies and have delivered complete information about their existing products or services.
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