Press release
Transforming the Industrial Brakes Market in 2025: Increasing Automation Drives Industrial Brakes Market Growth Through Essential Functions
The market size for industrial brakes has seen substantial growth of late. The expansion is expected to continue from $1.31 billion in 2024 to $1.38 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. Several factors have contributed to growth in previous periods, including heightened industrial automation, stricter safety regulations, an increase in manufacturing output, the desire for more efficient machinery, and necessities for dependability in braking systems.
In the ensuing years, the industrial brakes market size is projected to witness significant growth, reaching $1.73 billion in 2029 with a compound annual growth rate (CAGR) of 5.7%. This growth over the forecast period is due to factors such as an increasing focus on energy efficiency and rising number of renewable energy projects. Other influential factors include emphasis on predictive maintenance, need for personalized solutions, and implementing stricter safety and performance standards. The forecast period also expects to see trends such as the incorporation of IoT in braking systems, the creation of cutting-edge materials, concentration on miniaturization and compact designs, progression in friction materials, and a shift towards sustainable and environmentally friendly products.
What Factors Are Fueling Growth in the Industrial Brakes Market?
The growth of the industrial brakes market is projected to be spurred by the rising automation in manufacturing. Manufacturing automation involves the use of advanced technology, such as control systems and robots, to carry out tasks with minimal human intervention, to boost accuracy, efficiency, and productivity. The rise in manufacturing automation is fueled by factors like the need for enhanced precision, improved safety, cost-savings, heightening efficiency, and the ability to satisfy high production demands. Industrial brakes play a pivotal role in escalating automation in manufacturing as they offer crucial functions like reliable emergency stopping, accurate motion control, steady performance under differing loads, and improved safety precautions-all of which are critical for upholding the efficiency and reliability of automated systems. For example, in September 2023, the International Federation of Robotics, a Germany-based research organization for robotics, issued a report stating that the global installation of industrial robots in 2022 was noted at 553,052, marking a 5% rise in comparison to the prior year. Thus, the growth of the industrial brakes market is being led by the rising automation in manufacturing.
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Which Leading Companies Are Shaping the Growth of the Industrial Brakes Market?
Major companies operating in the industrial brakes market are Eaton Corporation plc, Parker Hannifin Corporation, Shanghai Borui Electric Co. Ltd., AMETEK Inc., Nabtesco Corporation, Altra Industrial Motion Corp., Akebono Brake Industry Co. Ltd., Haldex AB, ADVICS CO. LTD., KTR Systems GmbH, Hilliard Corporation, Kor-Pak Corporation, Dellner Bubenzer, Tolomatic Inc., Antec SA, Kobelt Manufacturing Co. Ltd., SIBRE Siegerland Bremsen GmbH, Kamco Components Ltd., Jiaozuo Changjiang Brake Co. Ltd., Carlisle Brake & Friction, Jiangxi Huawu Brake Co. Ltd., Coremo Ocmea S.p.A., Emco Precima Engineering Pvt Ltd.
What Are the Major Trends Shaping the Industrial Brakes Market?
Leading players in the industrial brakes market are investing in creating state-of-the-art products, such as next-gen braking technologies, aimed at enhancing performance, safety and efficiency across various industrial sectors. Next-gen braking technologies are sophisticated braking systems that utilise cutting-edge technology and materials to maximise performance, heighten safety and boost efficiency. For example, in March 2023, Germany's technology firm, ZF Friedrichshafen AG, unveiled its Advanced Brake-by-Wire Solutions, designed specifically for the international construction sector. The newly introduced brake system functions via an electronic signal that modifies brake pressure as required, removing the need for hydraulic lines within the cab. This shift facilitates the progression to electric and autonomous vehicle operations.
What Are the Key Segments of the Industrial Brakes Market?
The industrial brakesmarket covered in this report is segmented -
1) By Type: Mechanically Applied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes, Electrically Applied Brakes
2) By Application: Holding Brakes, Dynamic And Emergency Brakes, Tension Brakes
3) By End-User: Marine And Shipping, Mining, Manufacturing, Construction, Entertainments, Other End-Users
Subsegments:
1) By Mechanically Applied Brakes: Spring Applied Brakes, Band Brakes, Drum Brakes, Disc Brakes
2) By Hydraulically Applied Brakes: Hydraulic Disc Brakes, Hydraulic Drum Brakes, Oil-Immersed Brakes
3) By Pneumatically Applied Brakes: Pneumatic Disc Brakes, Pneumatic Drum Brakes, Spring-Actuated Pneumatic Brakes
4) By Electrically Applied Brakes: Electromagnetic Brakes, Electric Disc Brakes, Electric Drum Brakes
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Which Region Dominates the Industrial Brakes Market?
North America was the largest region in the industrial brakes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial brakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Industrial Brakes Global Market Report?
- Market Size Analysis: Analyze the Industrial Brakes Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Industrial Brakes Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Industrial Brakes Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Industrial Brakes Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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