Press release
Industrial Brakes Market to Perceive Excellent Growth of USD 2.39 Billion by 2030, Size, Share, Trends, Demand, Opportunities and Growth Statistics
Industrial Brakes Market 2023
Benefits provided by industrial braking systems like improved security, better efficiency, productivity improvements, seamless processing of equipment, and increased payload holding and lifting capacities are anticipated to boost the expansion of the worldwide industrial brakes market during the forecast period 2022 - 2030.
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However, volatility in cost of raw materials and unavailability are issues restricting worldwide market establishment. Furthermore, the thriving construction and mining sectors, market growth from diverse industries, and severe government regulations governing industrial stability are projected to drive the growth of the worldwide industrial brakes market.
Market Dynamics
Drivers
• Rising investments by key players in Research & Development
• Rising demand in manufacturing industry
Challenges
• Instable pricing of raw material & stringent government regulations
Opportunities
• Rapid industrialization & commercialization in developing nations.
• Increasing investments by local authorities creating lucrative opportunities
Key Players
Akebono Brake Industry Co. Ltd.
Altra Industrial Motion Corp.
Eaton Corporation plc
Aplicacion Nuevas Technologias Antec S.A.
Carlisle Brake & Friction
Coremo Ocmea S.p.A
Pintsch Bubenzer GmbH
Ringspann GmbH
SIBRE Siegerland Bremsen GmbH
Magnetek Inc.
Dellner Brakes AB.
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Segmentation
By Product
Disc Brake
Drum Brake
By Distribution Channel
Direct
Indirect
By Actuation Type
Mechanical
Hydraulic
Pneumatic
Electrical
Other Brakes
By Application
Holding Brakes
Dynamic & Emergency Brakes
Tension Brakes
By Industry
Manufacturing
Metal & Mining
Construction
Marine & Shipping
Other Industries
By Region
North America (US, Canada, Mexico);
Europe (UK, Germany, France, Italy, Spain, Rest of Europe);
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific);
Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa);
South America (Brazil, Argentina, Rest of South America);
Segment Insights
• Based on Actuation Type, electrical segment led the market in 2021 accounting for highest revenue across the globe. It is anticipated to grow significantly in upcoming years. Pneumatic segment registered highest CAGR followed by hydraulic.
• Based on Application, Holding Brakes segment accounted for largest revenue followed by dynamic & emergency brakes owing to the rising demand in construction, marine & shipping industry.
• Based on Industry, Manufacturing & construction segment generated highest amount of market revenue owing to the increasing demand for robotic applications.
Recent Developments
May'20 - Altra Industrial Corp released a novel brake for Dam Barriers named as Stromag 600 with a torque capacity of 45kNm.
April'20 - PINTSCH BUBNZER GmbH a subsidiary of DELLNER BEBENZER Group have
announced the acquisition of RIMA SRL, an Italian manufacturing firm, with the objective of establishing a global dominance in the supply of industrial brake systems and expanding the trading of power transmission equipment.
The Industrial Brakes Market refers to the market for brakes used in various industrial applications such as conveyor systems, cranes, hoists, and other material handling equipment. The market is expected to grow significantly in the coming years due to increasing demand for safety in industrial applications, as well as the need for precise control in high-speed operations.
Factors driving the growth of the industrial brakes market include the growth of automation in various industries, the increasing use of renewable energy sources, and the need for energy-efficient systems. The increasing demand for safety and reliability in industrial operations is also expected to boost the market.
The industrial brakes market can be segmented into various types of brakes such as hydraulic brakes, pneumatic brakes, mechanical brakes, and electrical brakes. Each type of brake has its own unique features and benefits, and the choice of brake depends on the specific requirements of the application.
The major players in the industrial brakes market include companies such as Bosch Rexroth, Altra Industrial Motion, Siemens, ABB, and Rockwell Automation. These companies are investing heavily in research and development to improve the performance and reliability of their products and to stay ahead of the competition.
Overall, the industrial brakes market is expected to grow at a significant pace in the coming years, driven by increasing demand for safety and efficiency in industrial operations.
Contact Us
Sarah Ivans | Business Development
Phone: +1 617 297 8902
Email: sales@futuremarketconsulting.com
Future Market Consulting
Website: www.futuremarketconsulting.com
About Future Market Consulting
Future Market Consulting a legacy of exceptional knowledge, integrated into providing service offers a one-stop solution that surpasses core research processes & industry standards focusing on the client's competency, strategies, growth factors, and business intelligence by creating an algorithm for meaningful data insights and presentations through a unique blend of vast industry coverage, expertise in every domain, professional work ethics & values, data authenticity & privacy.
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