Air Brake System Market Size

Air Brake System Market size was over USD 6.9 billion in 2024 and is projected to reach USD 15.08 billion by 2037, growing at around 6.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of air brake system is assessed at USD 7.24 billion.The growth of the market can be attributed to the rising sales of the vehicles. Air brakes give higher mechanical forces and it is best for greater distances covered by vehicles. In 2022, India surpassed Japan in auto sales, moving up to third position globally. At least 5 million new cars were sold in the country, exceeding Japan's almost 4 million sales. Moreover, around 19,000 luxury automobile units are predicted to be sold in Germany by 2027.

In addition to these, factors that are believed to fuel the market growth of air brake system include the rising instances of road accidents. Fatal road accidents are the main cause of global death for children and young adults aged 5 to 29. In addition to this, according to the statistics of the Ministry of Road Transport and Highways of India, every year, nearly 0.15 million people are killed on Indian roadways, which equates to 1130 accidents and 422 deaths every day, or 47 accidents and 18 deaths per hour. Besides this, the growth of the air brake system market is also attributed to the rising demand for recreational vehicles. Camping vehicle sales in Japan are expected to reach USD 470 million by 2021. Furthermore, around 600,000 recreational vehicles were shipped globally in 2021. It was around a 362% rise over 2009.