Industrial Brakes Market Size, Share, Trends, Growth 2030

The global industrial brakes market size was worth around USD 1398.64 million in 2022 and is predicted to grow to around USD 1982.64 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.53% between 2023 and 2030.

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The report analyzes the global industrial brakes market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the industrial brakes industry.

Global Industrial Brakes Market: Overview

Industrial brakes are devices that utilize frictional force for controlling the motion of movable objects in industrial functioning. The structures make available brake solutions in cranes, marine & shipping machines, wind turbines, metals & mining machines, packaging machines, construction machinery, tube machines, and other machines. Industrial brakes can assist in improving the manufacturing capacities of a factory by delivering superior quality goods with minimal human intervention with the implementation of automation technologies.  

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Global Industrial Brakes Market: Growth Factors

The evolution of the global industrial brakes market is attributable to the expanding demand of brakes in several sectors such as construction, oil & gas, metal & mining, and manufacturing. This expanded demand can be majorly witnessed across the emerging economies such as China, India, and South Africa.

Economic development, rapid industrialization & urbanization, surging disposable incomes of the people, growing urban population, drastic changes in the needs of people, increased investments toward the manufacturing sector, favorable initiatives & policies undertaken by the governments, and increased need of machinery in various sectors such as agriculture, defense, material handling, & construction are some of the key factors positively affecting the expansion of the global industrial brakes market. Additionally, the growing economies such as South African countries, India, Mexico, Russia, and China have observed a remarkable expansion of their infrastructure industry in the recent past which is anticipated to proceed with the same pace during the forecast timeframe. This in turn is generating demand for manufacturing and construction machinery, including lifts, cranes, and other construction apparatus, which will give a boost to the development of the global market for industrial brakes in the upcoming times.

Moreover, to be able to meet the surging requirements for minerals, the developing countries have experienced a notable growth in the investments toward exploration of minerals in the recent times. These economies are implementing numerous methods such as adoption of Internet of Things (IoT) and automation to bring down the production costs, labor expenses, and time required for mining projects. As a result, these investments will prove to improve the prospects of the global market for industrial brakes during the near future.

The extensive utilization of nuclear power plant and coal has proved to be detrimental for the environment due to the increasing discharge of GHG. This is a major reason the governments of numerous nations are discouraging the use of non-renewable resources such as natural gas, coal, oil, and nuclear energy. Many governments have also started wide-scale implementation of renewable resources including solar, hydro, and wind energy. Industrial brakes are utilized in hydropower plants and wind power plants to slow down or stop the turbine rotors. Industrial brakes operated in such machines need high cycle rate. Hence, the rising expenditures toward the implementation of renewable sources of energy prove to be beneficial for improving the requirement of industrial brakes. This factor is anticipated to drive the global market for industrial brakes.

Industrial Brakes Market: Report Scope

Global Industrial Brakes Market: Segmentation

The global industrial brakes market has been segregated based on type, application, end-user, and region. By type, the market is bifurcated into mechanically applied brakes, electrically applied brakes, pneumatically applied brakes, hydraulically applied brakes, spring brakes, and drum & disc brakes. Based on application, the global industrial brakes market is segmented as holding brakes, emergency brakes, and tension brakes. On the basis of end-use, the market is classified into marine & shipping, mining, manufacturing, construction, entertainments, and others.

Global Industrial Brakes Market: Competitive Players

The major market players working in the global industrial brakes market utilize strategies that include collaborations, product launches, acquisitions, and technological advancement. They have been concentrating on R&D to innovate advanced designs and newer kinds of brakes, according to the changing requirements of the end-users. The key players operating in this market are Eaton, Carlisle, AMETEK, Dellner, Altra Industrial Motion, and Magnetek Inc.

Global Industrial Brakes Market: Regional Analysis

Asia Pacific is projected to grow drastically in the forecast times. The expansion of the global industrial brakes market share is certain owing to the rapid industrialization, increased adoption of state-of-the-art technologies, and increased manufacturing activities supported by lower production costs across the region. In the recent past, investments in the production segment were surging for implementing newer technologies such as automation for improving affordability, enhancing the quality of end products, and increased safety.

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The massive volume of investments suggest that automation will give rise to newer and more advanced technologies, and this will in turn reshape the manufacturing industry by innovating ultra-modern equipment. Rapid advancement across multiple industries will prove to expand the global market for industrial brakes.

Industrial Brakes Market: Competitive Analysis

The global industrial brakes market is dominated by players like:

• Eaton
• Carlisle
• AMETEK
• Dellner
• Altra Industrial Motion
• Magnetek Inc

The Global Industrial Brakes Market is segmented as follows:

By Type

• Mechanically Applied Brakes
• Electrically Applied Brakes
• Pneumatically Applied Brakes
• Hydraulically Applied Brakes
• Spring Brakes
• Drum & Disc Brakes

By Application

• Holding Brakes
• Emergency Brakes
• Tension Brakes

By End-User

• Marine & Shipping
• Mining
• Manufacturing
• Construction
• Entertainments
• Others

Global Industrial Brakes Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.