Press release
North America Industrial Brakes Market Size, Share, Analysis & Forecast By 2030
Market Overview
North America industrial brakes market was valued at $146 million in 2017, and is projected to reach $189.48 million by 2025, growing at a CAGR of 3.4%.
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Industrial brakes play a crucial role in mechanical power transmission to deliver mechanical energy to shafts. This aids in facilitating motion in the industrial equipment. The speed of the motion can be controlled and subsequently used to deliver the desired action or processing required in respective application. The brakes help in holding machinery, deploy emergency or dynamic brakes, and maintain tension in pulleys of the equipment. Furthermore, the smooth motion and halt improves the efficiency, accuracy, and safety of the workplace. Thus, the industrial brakes are crucial to industrial requirement and boost the market growth during the forecast period
Types of Industrial Brakes
There are several types of industrial brakes, including:
Hydraulic Brakes - Hydraulic brakes use hydraulic fluid to apply force and stop machinery. They are commonly used in heavy machinery and equipment that requires high stopping power.
Pneumatic Brakes - Pneumatic brakes use compressed air to apply force and stop machinery. They are commonly used in industrial applications such as conveyor systems and cranes.
Electromagnetic Brakes - Electromagnetic brakes use an electromagnetic field to apply force and stop machinery. They are commonly used in elevators and escalators.
Mechanical Brakes - Mechanical brakes use physical force, such as a lever or pedal, to apply force and stop machinery. They are commonly used in small equipment such as hand trucks and carts.
Key Drivers of the North America Industrial Brake Market
Increasing Demand from End-Use Industries - The demand for industrial brakes is increasing due to the growth of various end-use industries such as mining, construction, and oil and gas. These industries require heavy machinery and equipment that require reliable and efficient braking systems.
Advancements in Technology - Advancements in technology, such as the development of new materials and sensors, are driving growth in the industrial brake market. These advancements are improving the performance, reliability, and safety of industrial brake systems.
Increased Investments in Research and Development - Increased investments in research and development are driving innovation in the industrial brake market. Companies are investing in new technologies and materials to develop better performing and more efficient industrial brake systems.
Stringent Safety Regulations - Stringent safety regulations in various industries are driving demand for reliable and safe braking systems. This is leading to an increased demand for industrial brake systems that meet or exceed safety standards.
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Challenges of the North America Industrial Brake Market
High Cost - Industrial brakes can be expensive to purchase and maintain, especially for smaller companies. This can be a barrier to entry for some companies.
Maintenance and Repair - Industrial brakes require regular maintenance and repair to ensure proper function and safety. This can be time-consuming and expensive for companies.
Environmental Concerns - The manufacture and disposal of industrial brake systems can have negative environmental impacts. Companies are increasingly under pressure to develop more sustainable and environmentally friendly products and processes.
Competition - The North America industrial brake market is highly competitive, with numerous players vying for market share. This can make it difficult for companies to differentiate themselves and maintain profitability.
Key Market Players Profiled in the Report
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
The Carlyle Johnson Machine Company, LLC
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
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The North America industrial brake market is expected to experience steady growth over the coming years, driven by increasing demand from various end-use industries and advancements in technology. However, companies in this market will face challenges related to cost, maintenance, and environmental concerns. To remain competitive, companies will need to invest in research and development, develop more sustainable products and processes, and focus on providing high-quality products and services that meet or exceed safety standards.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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