The global industrial brakes market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
Industrial brakes are devices designed for stopping or decelerating the moving parts of a machine. They rely on friction for holding the rotating or movable parts in their places and converting kinetic energy to halt the movement. They are equipped with automatic adjustment tools for adjusting the gap between the brakes. Nowadays, leading players are focusing on improving the efficiency and wear life of industrial brakes and reducing their maintenance requirements to minimize lost production due to downtime. This has enabled industrial brakes to be operational in harsh and remote working conditions. At present, industrial brakes find extensive applications in the mining and marine industries across the globe.
Industrial Brakes Market Trends:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The growing focus on infrastructural development has led to a rise in construction activities around the world. This represents one of the key factors positively influencing the market. Moreover, there is an increase in the integration of Industry 4.0 in the manufacturing sector, which provides real-time information about the whole manufacturing process. It involves the utilization of technologies, such as the internet of things (IoT), cloud computing and analytics, artificial intelligence (AI), and machine learning (ML). This, coupled with the rising automation in different industry verticals, is offering lucrative growth opportunities to market players. Besides this, industrial robots are increasingly being adopted for assembly, pick-and-place, and packaging operations. However, one of the major risks associated with robotics is the uncontrolled or non-commanded motion by a robot. Consequently, industrial brakes are used in these robots to provide dynamic stopping in the event of an emergency. Apart from this, industrial brakes are used in mining winches, conveyor belts, overhead cranes, steel rolling systems, and wind turbines. This, coupled with the burgeoning oil and gas industry, is driving the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global industrial brakesmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application and end use industry.
Breakup by Type:
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Mechanical
Hydraulic
Pneumatic
Electrical
Others
Breakup by Application:
Holding Brakes
Dynamic and Emergency Brakes
Tension Brakes
Breakup by End Use Industry:
Manufacturing
Metal and Mining
Construction
Marine and Shipping
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Akebono Brake Industry Co. Ltd, Altra Industrial Motion Corporation, AMETEK Inc., Antec SA, Coremo Ocmea S.p.A., Eaton Corporation PLC, Hilliard Corporation, Kobelt Manufacturing Co. Ltd., Kor-Pak Corporation, RINGSPANN GmbH, SIBRE - Siegerland Bremsen GmbH and Tolomatic Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Type, Application, End Use Industry, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Akebono Brake Industry Co. Ltd, Altra Industrial Motion Corporation, AMETEK Inc., Antec SA, Coremo Ocmea S.p.A., Eaton Corporation PLC, Hilliard Corporation, Kobelt Manufacturing Co. Ltd., Kor-Pak Corporation, RINGSPANN GmbH, SIBRE - Siegerland Bremsen GmbH and Tolomatic Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 2499
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Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global industrial brakes market was valued at US$ 1.3 Billion in 2022.
We expect the global industrial brakes market to exhibit a CAGR of 3.8% during 2023-2028.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous manufacturing units for industrial brakes.
The advent of industry 4.0 across the manufacturing sector, along with the rising integration of IoT, cloud computing and analytics, AI, and ML technologies which provides real-time information about the whole manufacturing process is primarily driving the global industrial brakes market.
Based on the type, the global industrial brakes market can be categorized into mechanical, hydraulic, pneumatic, electrical, and others. Currently, electrical exhibits clear dominance in the market
Based on the application, the global industrial brakes market has been segmented into holding brakes, dynamic and emergency brakes, and tension brakes. Among these, holding brakes currently hold the largest market share.
Based on the end use industry, the global industrial brakes market can be bifurcated into manufacturing, metal and mining, construction, marine and shipping, and others. Currently, the manufacturing industry accounts for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global industrial brakes market include Akebono Brake Industry Co. Ltd, Altra Industrial Motion Corporation, AMETEK Inc., Antec SA, Coremo Ocmea S.p.A., Eaton Corporation PLC, Hilliard Corporation, Kobelt Manufacturing Co. Ltd., Kor-Pak Corporation, RINGSPANN GmbH, SIBRE - Siegerland Bremsen GmbH, and Tolomatic Inc.
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