Automotive Air Brake System Market will register a CAGR of 5% during 2020-2024. The market’s growth momentum will Accelerate.
increasing demand for heavy-duty vehicles will be one of the major factors driving the growth of this market. Additionally, key Automotive Air Brake System Market trends such as the Increasing preference for lightweight brake components will also influence market growth during the forecast period.
Automotive Air Brake System Market Size
During the forecast period, the Automotive Air Brake System Market size will grow by $ 847.25 mn.
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Automotive Air Brake System Market : Vendors
The market is concentrated and owing to the growth opportunities, the level of competition among the companies in this market space will intensify further. are some of the major companies in the Automotive Air Brake System Market. Though the forecast period offers opportunities for vendors to increase their market share, factors such as the vehicle recalls due to potential air brake failure will also challenge the growth of the companies.
Akebono Brake Industry Co. Ltd. | Haldex AB | Knorr-Bremse AG | Meritor Inc. | Minda Industries Ltd. | Nabtesco Corp. | SORL Auto Parts, Inc. | TBK Co. Ltd. | Wabtec Corp. | ZF Friedrichshafen AG.list
are some of the companies covered in Technavio’s Automotive Air Brake System Market report for 2021-2025.
Automotive Air Brake System Market : Region-level Analysis
The report identifies region-level market dynamics, developments, and key markets. The regional level analysis also identifies the market share, growth momentum, and key leading countries in the Automotive Air Brake System Market.
The APAC will account for the largest Automotive Air Brake System Market share and during 2021-2025, the region will contribute to 58% of the market’s growth.