Industrial Brakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Industrial Brakes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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:

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 brakes market 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:

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:

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.

Key Questions Answered in This Report

1. What was the size of the global industrial brakes market in 2022?
2. What is the expected growth rate of the global industrial brakes market during 2023-2028?
3. What has been the impact of COVID-19 on the global industrial brakes market?
4. What are the key factors driving the global industrial brakes market?
5. What is the breakup of the global industrial brakes market based on the type?
6. What is the breakup of the global industrial brakes market based on the application?
7. What is the breakup of the global industrial brakes market based on the end use industry?
8. What are the key regions in the global industrial brakes market?
9. Who are the key players/companies in the global industrial brakes market?