Source: Future Market Research announcement
LONDON — The market for electro-pneumatic train brakes is anticipated to reach $14,600 million by 2032, increasing at a compound annual growth rate (CAGR) of 4.9 percent from 2022 to 2032, and be valued at $9,050 million in 2022, according to results published in a report by Future Market Insights.
The Electro-pneumatic train brakes are modern rolling stock braking systems that offer improved performance as compared to traditional pneumatic brakes. Electro-pneumatic train brakes are a part of train safety systems and are thus critical components.
Hence, with the increase in train production and repair activities, the demand for electro-pneumatic brakes is expected to witness significant growth in the coming years.
Modern rolling stock braking systems, such as electro-pneumatic ones, outperform conventional pneumatic brakes in terms of performance. Train safety systems must have electro-pneumatic train brakes as a necessary component.
The railway is an effective, reliable, and preferred means of mass transportation for passengers and freight. With technical advancement and increasing train speed and load, train brakes have also evolved to reliably and safely stop the train. Electro-pneumatic train brakes are designed to overcome the operational lag of the traditional pneumatic braking systems.
They use electronic controls for the faster control of traditional air brakes to increase effectiveness, enhance reliability, optimize air pressure control and reduce stopping distance.
Railways are an integral part of public transportation systems and are expected to play a crucial role in the years to come, owing to the increasing passenger density and globalization across regions.
Governments around the globe are significantly investing towards the development of railway infrastructure, which has been driving the growth of the electro-pneumatic train brakes market.
Furthermore, with technical advancement, high speed trains are gaining traction and such trains require reliable and high speed and load braking systems. Moreover, to meet the growing demand for transportation, authorities across various countries are investing on strengthening their railway networks, which is expected to augment the growth of the electro-pneumatic train brakes market.
Further, with the increasing inclination towards safety and security along with the stringent rules & regulations implemented by authorities and governments of developed and developing countries regarding the safety of passengers and freight is a prominent driver for the growth of the electro-pneumatic train brakes market.
For further information on the report and more detailed announcement, click HERE