Industrial Brakes Market: Porter Analysis Identifies Competitive Forces Within The Market

The industrial brakes market is expected to witness steady growth, owing to rise in the adoption of automation processes and subsequent demand for industrial robotics. Stable macroeconomic trends, increase in the demand for manufactured goods like tractors, draglines and mining equipment, and the increase in the construction activities worldwide are driving the market growth. Globally, Asia-Pacific has been the largest market of these brakes. Asia has become a manufacturing hub of these materials due to the availability of cheap labor, and easy mining of raw materials.

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Growth in construction and manufacturing industries, rise in adoption of industrial robotics and automation processes, and high focus on safety and efficiency of industrial machineries are some of the drivers expected to push the growth of the global industrial brakes market.

Industries across the globe are now demanding strong machines and equipment which can work in all kinds of environment. The manufacturing sector is slowly transitioning to automation, making it easy for product manufacturing, which in turn is driving the industrial brakes market growth and creating opportunities for industry players.

Despite the multiple benefits offered by these brakes, the industrial brakes market is hampered by the stringent rules imposed by the government to curb the environmental effects of irresponsible mining.

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In order to reduce the harmful effects of mining activities, governments worldwide have laid down stringent environment norms, which is only resulting in reduced mining. This has been impacting the price of raw materials for brake manufacturing, such as metals and alloys, leading to the high price of these brakes. This acts as a major restraint to the market growth.

Some of the major players operating in the industrial brakes industry are Akebono Brake Industry Co., Ltd., Altra Industrial Motion Corp., Antec S.A., Carlisle Brake & Friction, Coremo Ocmea S.p.A., GKN Walterscheid Gmbh, Pintsch Bubenzer Gmbh, Ringspann GmbH, SIBRE - Siegerland Bremsen GmbH, and Eaton Corporation.

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