Electromagnetic Multi-Disc Brake Market Forecasts to 2030 – Global Analysis By Type (Wet and Dry), End User (Construction, Automotive, Renewable Energy, Aerospace, Marine and Other End Users) and By Geography

Electromagnetic Multi-Disc Brake Market Forecasts to 2030 – Global Analysis By Type (Wet and Dry), End User (Construction, Automotive, Renewable Energy, Aerospace, Marine and Other End Users) and By Geography

According to Stratistics MRC, the Global Electromagnetic Multi-Disc Brake Market is accounted for $23.70 billion in 2023 and is expected to reach $37.57 billion by 2030 growing at a CAGR of 6.8% during the forecast period. Electromagnetic multi-disc brakes are advanced braking systems that use electromagnetic force to control motion. These brakes offer superior control and responsiveness, making them indispensable across various industries where precision braking is essential for optimal functionality and safety measures. Their significance lies in precise stopping, offering rapid response times, and heat dissipation. These brakes find applications across diverse sectors, from automotive, where they enable regenerative braking in electric vehicles, to industrial machinery, elevators, and robotics.

According to the data by the International Organization of Motor Vehicle Manufacturers (OICA), the global sales of commercial vehicles in 2019 was 27 million units, that is, a growth of 3.8% was encountered as compared to 2018.

Market Dynamics:

Driver:

Increasing trend towards automation

The expanding tendency towards automation has a substantial impact on the market for electromagnetic multi-disc brakes. The need for sophisticated braking solutions is growing in harmony with industries' increasing adoption of automation to boost productivity and efficiency. With their ability to provide accurate and swift braking as well as overall safety and control over machinery, electromagnetic multi-disc brakes are essential components of automated systems. Outstanding performance is ensured in manufacturing, robotics, and material handling applications by the smooth integration of brake technology. Therefore, there is an increasing demand for market expansion.

Restraint:

High initial cost

The intricate engineering and advanced technology involved contribute to a substantial upfront investment, making them less accessible, particularly for industries mindful of budget constraints. This financial barrier hinders the widespread adoption of electromagnetic multi-disc brakes across various sectors. The challenge lies in balancing the undeniable benefits, including enhanced safety and performance, with the economic considerations of potential adopters. Thus, it acts as a significant barrier to market growth.

Opportunity:

Global infrastructure development

The need for improved brake solutions is growing as countries invest in building high-speed rail networks, upgrading industrial infrastructure, and modernising transportation systems. Multi-disc electromagnetic brakes provide precise control, quick response times, and flexibility to meet changing infrastructure requirements. Additionally, these brakes are used in a variety of industries, such as construction and transportation, improving performance and safety. Manufacturers poised to provide innovative braking solutions aligned with the requirements of global infrastructure projects are well-positioned to capitalise on this opportunity, ensuring a pivotal role in the evolution of modern transportation and industrial systems worldwide.

Threat:

Regulatory compliance

Regulatory compliance presents a formidable threat to the electromagnetic multi-disc brake market. Stringent safety and environmental standards in the automotive and industrial sectors require meticulous adherence, posing challenges for electromagnetic brake manufacturers. Meeting evolving regulations demands ongoing investment in research and development, potentially increasing production costs. Failure to comply with these standards can lead to legal consequences, reputational damage, and restricted market access.

Covid-19 Impact

The COVID-19 pandemic has had a multifaceted impact on the electromagnetic multi-disc brake market. Manufacturing capacity reductions during lockdowns, shortages of labour, and supply chain disruptions caused production delays and made it difficult to meet demand. The recession had an effect on industrial sector investments as well, which had an effect on the installation of modern braking systems. However, the pandemic highlighted the importance of automation and safety in various industries, potentially driving the adoption of advanced braking solutions. The market for electromagnetic multi-disc brakes is anticipated to grow as worldwide markets improve.

The Wet segment is expected to be the largest during the forecast period

The Wet segment is estimated to hold the largest share. A wet electromagnetic multi-disc brake is a specialised braking system designed for high-torque and heavy-duty applications where efficient cooling is crucial. The ""wet"" designation implies that the braking system operates in an oil bath, enhancing heat dissipation and durability. This segment finds prominence in industries like mining, marine, and heavy machinery, providing efficient and reliable braking solutions in challenging environments. Additionally, the demand for enhanced performance and heat management, making it integral to applications requiring sustained braking power and longevity

The Automotive segment is expected to have the highest CAGR during the forecast period

The Automotive segment is anticipated to have lucrative growth during the forecast period. This segment meets the growing need for dependable and effective braking systems in the automotive industry by concentrating on offering sophisticated brake solutions for motor vehicles. These brakes greatly improve vehicle control and responsiveness while putting an emphasis on safety and performance. The automotive segment reflects the ongoing technological advancements in the automotive sector, addressing the need for innovative and high-performance braking solutions to meet the evolving demands of modern vehicle design and manufacturing.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to its rapid industrialization and technological advancements. Countries such as China, Japan, India, and South Korea are at the forefront of adopting electromagnetic braking systems across diverse industries. The expansion of manufacturing, automotive, and construction sectors in the region contributes to the rising demand for reliable braking solutions. With a focus on improving safety and efficiency in machinery, the Asia-Pacific market plays a pivotal role in shaping the global landscape of electromagnetic multi-disc brake technologies. The increasing industrial activities and infrastructural development further underscore the region's prominence in this dynamic market.

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period. The region, encompassing the United States and Canada, witnesses a high demand for reliable braking systems in sectors such as manufacturing, automotive, and energy. The emphasis on safety regulations and the adoption of electromagnetic multi-disc brakes in various applications contribute to market growth. With a strong manufacturing base and technological innovation, North America plays a pivotal role in shaping the global electromagnetic multi-disc brake industry, offering efficient braking solutions for diverse industrial needs and contributing to the overall safety and productivity of machinery.

Key players in the market

Some of the key players in the Electromagnetic Multi-Disc Brake Market include Kendrion, Wichita Clutch, EIDE, Pintsch Bubenzer, Ogura SAS, jbj Techniques Limited, MWM FRENI-FRIZIONI, HEID Antriebstechnik, Walpha Engineering, Altra Industrial Motion, Miki Pulley, Mach III Clutch, Inc., Transfluid S.p.A., Ortlinghaus Group, Goizper Group and The Carlyle Johnson Machine Company.

Key Developments:

In October 2023, Kendrion Industrial Brakes announced that it has entered into a strategic agreement with Miki Pulley Group, Japan, to introduce innovative permanent magnet brake technology to the Japanese market. The agreement is the starting point for the development of a long-term business relationship that will benefit both companies, as well as the customers of brake expert Miki Pulley.

In March 2022, VBG Group has, through its subsidiary Ringfeder Power Transmission USA, acquired all shares in The Carlyle Johnson Machine Co., LLC. The company was founded in 1903 in Hartford, CT, and designs and manufactures components for motion control that are used in industrial applications.

Types Covered:
• Wet
• Dry

End Users Covered:
• Construction
• Automotive
• Renewable Energy
• Aerospace
• Marine
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements