Industrial Brakes Market Overview:
The Global Industrial Brakes Market is expected to $1,074 million from $828 million and register a CAGR of 3.70%, during the forecast period, 2017-2023. The industry plays a crucial function in mechanical power transmission to deliver mechanical energy to shafts. This aids in facilitating motion in 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 provide assistance 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. Moreover, rise in adoption of industrial automation to improve the production capabilities of the manufacturing plant fuel the market.
Increase in activities in construction and manufacturing activities due to rise in population and growth in industries, such as metals & mining, power generation, construction, entertainment, marine & shipping, and others boost the industry. Furthermore, the brakes deliver robust performance which is also expected to fuel the market growth during the forecast period.
Moreover, rise in inclination toward enhanced efficiency and safety of the industrial machineries among the market players is also anticipated to drive the industrial brakes industry in the coming years. Technology driven motion control solutions involving sensors enabled in brakes can provide lucrative opportunities to the manufacturers.
The key players operating in the global industrial brakes market are Akebono Brake Industry Co., Ltd., Altra Industrial Motion Corp., Antec, S.A., Carlisle Brake & Friction, Coremo Ocmea S.p.A., Eaton, GKN Walterscheid GmbH, Pintsch Bubenzer GmbH, Ringspann GmbH, and SIBRE - Siegerland Bremsen GmbH.
The industrial brakes market is segmented on the basis of type, application, end user, and geography. Based on type, the industry is classified into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, drum & disc brakes, and spring brakes. By application, it is categorized into holding brakes, dynamic & emergency brakes, and tension brakes. Based on the end-user industry, it is divided into metals & mining, construction, manufacturing, entertainment, marine & shipping, and others (military, power generation, printing, transportation, and aerospace). By geography, it is analyzed across four regions including North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is expected to exhibit lucrative growth opportunities thereby registering the highest growth, owing to the growth in industrialization and manufacturing activates driven by availability of low cost of production.
Top Impacting Factors
With the increase in demand for industrial robotics in all industries, there is a significant rise in the application of the industrial brakes. The brakes facilitate desired motion by delivering the right velocity, acceleration, and deceleration of the industrial equipment. Furthermore, it assists in holding and lifting heavy payloads in the manufacturing plant activities. Increase in activities in construction, metals & mining, and manufacturing industries also boost industrial brakes industry. The availability of technology driven solutions in automated brakes is anticipated to further drive the market growth.
However, the inconsistent prices of the materials required for brakes continues to fluctuate the profits margin for the market players. In addition, change in rates of foreign currency especially of Europe, post Brexit is also expected to influence the profit margins for the market players. The stringent government regulation associated with metals and mining processes to reduce their impact on the environment is also expected to challenge growth of the industrial brakes market in the coming years.
Key Benefits of the Industrial Brakes Market Report:
- It provides an in-depth analysis of the market and current & future trends to elucidate the imminent investment pockets.
- It offers information about key drivers, restrains, and opportunities.
- It gives illustrations through the Porters Five Forces analysis to highlight the potency of buyers & suppliers operating in the industry.
- It provides quantitative analysis of the industry to determine the market potential, during the forecast period.
Industrial Brakes Market Key Segments:
- Mechanically Applied Brakes
- Hydraulically Applied Brakes
- Pneumatically Applied Brakes
- Electrically Applied Brakes
- Drum & Disc Brakes
- Spring Brakes
- Holding Brakes
- Dynamic & Emergency Brakes
- Tension Brakes
By End User Industry
- Metals & Mining
- Marine & Shipping
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players
- 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