Pre & Post COVID-19 Market Estimates-Automotive Air Brake System Market 2019–2023 | Preference for Air Brake Systems in Medium-duty Vehicles to Boost Growth | Technavio
Technavio has been monitoring the automotive air brake system market and it is poised to grow by USD 249.14 mn during 2019–2023, progressing at a CAGR of almost 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Akebono Brake Industry Co. Ltd., Knorr-Bremse AG, Meritor Inc., WABCO Holdings Inc., and ZF Friedrichshafen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Preference for air brake systems in medium-duty vehicles has been instrumental in driving the growth of the market.
Automotive Air Brake System Market 2019–2023 : Segmentation
Automotive air brake system market is segmented as below:
- Application
- Geographic Landscape
- Trucks
- Buses
- APAC
- Europe
- MEA
- North America
- South America
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Automotive Air Brake System Market 2019–2023 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive air brake system market report covers the following areas:
- Automotive Air Brake System Market Size
- Automotive Air Brake System Market Trends
- Automotive Air Brake System Market Industry Analysis
This study identifies preference for lightweight brake components as one of the prime reasons driving the automotive air brake system market growth during the next few years.
Automotive Air Brake System Market 2019–2023 : Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the automotive air brake system market, including some of the vendors such as Akebono Brake Industry Co. Ltd., Knorr-Bremse AG, Meritor Inc., WABCO Holdings Inc., and ZF Friedrichshafen AG. Backed with competitive intelligence and benchmarking, our research reports on the automotive air brake system market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
