Press release
Rise in adoption of industrial robotics and automation processes driving the growth for Industrial Brakes Market | Top regions & Major end-user industries.
The North America industrial brakes market was valued at $146.0 million in 2017, and is projected to reach $189.48 million in 2025, growing at a CAGR of 3.4%.
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Rise in adoption in industrial automation fuels the demand for industrial brakes. Moreover, the versatile benefits associated with industrial robotics such as movement within the workspace, lifting payloads, and performing application-specific tasks that require controlling the motion of the robots, are also anticipated to drive the growth of the industrial brakes market in the coming years. Further, growth in the construction and mining activities is anticipated to increase the demand for the industrial brakes market in future.
The industrial brakes have applications in various end-user industries such as construction, metals & mining, entertainment, marine & shipping, and military & aerospace. The industrial brakes function in cranes, lifts & escalators, packaging machines, amusement rides, wind turbines, fans & ventilators, construction equipment textile machines, and assembly stations to name a few. Thus, the increase in activities in these industries and subsequent demand for automation of processes are expected to drive the growth of the North America industrial brakes market in the coming years.
Key Findings of the North America Industrial Brakes Market:
• Based on application, the holding brake segment dominated the market in terms of revenue in 2017, and is projected to grow at a CAGR of 3.7% during the forecast period.
• U.S. generated the highest revenue in 2017, and Mexico is anticipated to grow at the highest CAGR of 4.9%.
• Based on type, the electrically-applied brake segment generated the highest revenue in 2017, and is estimated to grow at the rate of 4.0%.
• Based on end-user industry, the manufacturing segment accounted for the largest market share in 2017.
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North America Industrial Brakes Market Key Segment:
By Type
• Mechanically-applied Brake
• Hydraulically-applied Brake
• Pneumatically-applied Brake
• Electrically-applied Brake
• Drum & Disc Brake
• Spring Brake
By Application
• Holding Brake
• Dynamic & Emergency Brake
• Tension Brake
By End-User Industry
• Manufacturing
• Metals & Mining
• Construction
• Entertainment
• Marine & Shipping
• Others
Top Key Players:
The key players profiled in this report include Akebono Brake Corporation, Altra Industrial Motion Corp. Carlisle Brake & Friction, Chassis Brakes International, Drive-Line Inc., Eaton Corporation, Industrial Brakes Company, Mach III Clutch, Inc., Ogura Industrial Corp. and The Carlyle Johnson Machine Company, LLC.
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