Industrial Brakes Market Size and Share

Global Industrial Brakes Market to Reach US$ 2.0 BN by 2031, driven by the Increase in Government Expenditure in Industrial Sectors and Rise in Industrialization Globally: Global Insight Services

New York, November 2022: According to a new research study by Global Insight Services (GIS), the industrial brakes market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 2.0 billion by 2031.

Industrial brake is a frictional device used to halt a spinning inertia load or to retain a component in a fixed position. In most cases, the inertia load is caused by many spinning components that must be halted. To slow anything down, they transform the kinetic energy created by friction between two surfaces into heat. Industrial brakes differ from car brakes in that they are used in a variety of industrial machines. Industrial brakes work in all-weather situations, require less maintenance owing to fewer moving components, and are easy to modify for various applications. During the forecast period, all of these reasons are likely to boost the demand for industrial brakes across the world. Industrial brakes provide numerous benefits, one of which is the low number of parts and spares needed. Other benefits include easy hygiene owing to the one-piece design, a high return on investment due to the extended life of industrial brakes, and the ability to work in harsh situations. Additionally, growing industrialization and increasing government investments in the industrial sectors to promote output are expected to have a substantial influence on the industrial brakes market during the projected period.

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Global Industrial Brakes Market: Key Drivers and Trends

Rise in government expenditure in industrial sectors and increase in industrialization across major parts of the globe are expected to fuel the demand opportunities in the global industrial brakes market in the upcoming years. Industrial brakes require minimal parts and spares that can be easily cleaned, and offer promising return on investment (ROI), owing to their durability. Moreover, they can be operated in challenging environments. On the back of these advantages, companies operating in the global industrial brakes market are experiencing demand from varied end-use industries, including construction, manufacturing, marine & shipping, power & energy, and mining.

Global Industrial Brakes Market: Market Restraints and Challenges

Increasing overall maintenance and repair cost of industrial brakes and likely restraining market revenue growth in the forecast period. Further, increasing volatility in raw material prices and the high maintenance cost of industrial brakes are anticipated to hinder market growth during the forecast period. Growing volatility in raw material prices negatively influences the ability of manufacturers to produce industrial brakes based on specific requirements.

Global Industrial Brakes Market Report Findings

https://www.globalinsightservices.com/reports/industrial-brakes-market/

The hydraulically applied brakes segment is likely to hold the major share of the market in 2021

Based on type, it is segmented into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, and others. The hydraulically applied brakes segment is expected to be the largest segment in the industrial brakes market in 2021. A hydraulic brake transfer pressure from the regulating device to the braking system using brake fluid, which commonly contains glycol ethers or diethylene glycol. When the brake pedal is squeezed in a hydraulic brake system, a pushrod applies force on the master cylinder piston/pistons, forcing fluid from the brake fluid reservoir to flow into a pressure chamber through a compensating port. As a consequence, the pressure of the entire hydraulic system rises, driving the fluid down the hydraulic lines to one or more calipers, where the brakes works on one or more caliper pistons sealed by one or more seated O-rings (which prevent leakage of the fluid). Due to above mentioned factors, the hydraulically applied brakes segment is expected to hold a major market share in 2021.

The holding brakes segment is likely to hold the major share of the market in 2021

Based on application, it is segmented into holding brakes, dynamic and emergency brakes, and tension brakes. The holding brakes segment is expected to be the largest segment in the industrial brakes market in 2021. Motor holding brakes are responsible for maintaining the motor’s position when the power stage is turned off. The holding brake is neither a safety feature nor a maintenance brake. This brake is used in factory automation, medical equipment, elevators and escalators, construction equipment, robotics, and machine tool equipment. Many companies offer holding brakes for various applications and industrial environments. Thus, the holding brakes segment is expected to hold a major market share in 2021.

The Asia Pacific region is accounted for the majority of market share in 2021

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021. In Asia Pacific, manufacturing sector has expanded in 2021 on improved domestic demand, a rapidly growing e-commerce sector, recovery of world trade volumes, and government-driven growth from budget disbursements and economic. Thus, it propels the growth of the industrial brakes market in Asia Pacific.

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Competitive Landscape

The key players studied in the global industrial brakes market are Akebono Brake Industry Co., Ltd. (Japan), Altra Industrial Motion Corp. (U.S.), AMETEK.Inc. (U.S.), Carlisle Brake & Friction (U.S.), Coremo Ocmea S.p.A. (Italy), DELLNER BUBENZER Germany GmbH (Germany), Eaton Corporation plc (U.S.), Jiangxi Huawu Brake Co., Ltd. (China), RINGSPANN GmbH (Germany), and SIBRE (Germany).

Global Industrial Brakes Market: Recent Developments

  • September 2022, Rail clamps and rail brakes are among the heavy-duty solutions in the extensive range of industrial brakes in Ringspann’s one-stop shop. Rail brakes from RINGSPANN give cranes and excavators high stability.
  • April 2019, Eaton had announced it had been chosen to supply its decompression engine brake to Guangxi Yuchai Machinery Group Co., Ltd. (Yuchai Group), a China-based commercial vehicle engine manufacturer. The engine brake, slated to be assembled at Eaton’s manufacturing facility in Jining, China, enhance brake power in the full-engine operating range and is compact, allowing for easy integration into smaller engines. Eaton made the announcement at the Shanghai International Automobile Industry Exhibition.

Global Industrial Brakes Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global industrial brakes market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future global industrial brakes market potential from 2021 to 2031 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global industrial brakes market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global industrial brakes industry.

Global Industrial Brakes Market Segmentation

By Type

  • Mechanically Applied Brakes
  • Hydraulically Applied Brakes
  • Pneumatically Applied Brakes
  • Electrically Applied Brakes
  • Others

By Application

  • Holding Brakes
  • Dynamic and Emergency Brakes
  • Tension Brakes

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of the World
    • Latin America
    • Middle East
    • Africa

Key Players

  • Akebono Brake Industry Co., Ltd. (Japan)
  • Altra Industrial Motion Corp. (U.S.)
  • AMETEK.Inc. (U.S.)
  • Carlisle Brake & Friction (U.S.)
  • Coremo Ocmea S.p.A. (Italy)
  • DELLNER BUBENZER Germany GmbH (Germany)
  • Eaton Corporation plc (U.S.)
  • Jiangxi Huawu Brake Co., Ltd. (China)
  • RINGSPANN GmbH (Germany)
  • SIBRE (Germany)

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