How Has the Industrial Brakes Market Size Evolved in Recent Years?
The industrial brakes market has seen considerable growth due to a variety of factors.
• The size of the industrial brakes market has seen significant expansion in recent years. The market is projected to increase from $1.31 $ billion in 2024 to $1.38 $ billion in 2025, with a compound annual growth rate (CAGR) of 6.0%.
Factors contributing to this growth during the historical period include increased industrial automation, evolving safety regulations, a surge in manufacturing output, the need for machinery with high performance, and the necessity for dependable braking systems.
What Is The Forecast For The Industrial Brakes Market Size?
The industrial brakes market is expected to maintain its strong growth trajectory in upcoming years.
• Strong expansion is anticipated in the industrial brakes market in the upcoming years, with its value projected to reach around $1.73 billion by 2029, growing at a CAGR of 5.7%.
This predicted growth can be credited to the emphasis on energy efficiency, an upsurge in renewable energy initiatives, a shift towards predictive maintenance, the need for custom solutions, and stricter safety and performance standards. Key trends during the forecast period are the incorporation of IoT in brake systems, the creation of cutting-edge materials, a concentration on minimization and compact structures, improvements in friction materials, and a tendency towards sustainable and environmentally-friendly products.
What Are The Essential Drivers Behind The Growth Of The Industrial Brakes Market?
The growth of the industrial brakes market is likely to be spurred by the rise in automation in the manufacturing sector. Created to boost efficiency, precision, and productivity, automation in manufacturing involves utilizing sophisticated technology like robots and control systems to execute tasks and processes with little to no human intervention. The escalation of automation in manufacturing is propelled by numerous factors including the demand for heightened efficiency, cost-cutting, enhanced accuracy, improved safety, and the capacity to fulfill high production needs. Industrial brakes play a key role in augmenting automation in manufacturing by delivering critical features like precise motion control, dependable emergency stopping, uniform performance amidst fluctuating loads, and augmented safety mechanisms. These elements are critical to uphold the efficiency and reliability of automated systems. For example, as reported by the International Federation of Robotics, a Germany-based robotics research association, in September 2023, the worldwide installation of industrial robots hit an increase of 5% compared to the prior year, clocking in at 553,052 in 2022. Hence, the expanding automation in the realm of manufacturing serves as the driving force behind the development of the industrial brakes market.
How Is The Global Industrial Brakes Market Divided Into Key Segments?
The industrial brakesmarket covered in this report is segmented –
1) By Type: Mechanically Applied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes, Electrically Applied Brakes
2) By Application: Holding Brakes, Dynamic And Emergency Brakes, Tension Brakes
3) By End-User: Marine And Shipping, Mining, Manufacturing, Construction, Entertainments, Other End-Users
Subsegments:
1) By Mechanically Applied Brakes: Spring Applied Brakes, Band Brakes, Drum Brakes, Disc Brakes
2) By Hydraulically Applied Brakes: Hydraulic Disc Brakes, Hydraulic Drum Brakes, Oil-Immersed Brakes
3) By Pneumatically Applied Brakes: Pneumatic Disc Brakes, Pneumatic Drum Brakes, Spring-Actuated Pneumatic Brakes
4) By Electrically Applied Brakes: Electromagnetic Brakes, Electric Disc Brakes, Electric Drum Brakes
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What Trends Are Shaping The Industrial Brakes Market?
Major corporations in the industrial brakes market are intensifying their focus on creating advanced output like breakthrough braking systems for enhancing performance, bolstering safety, and optimizing efficiency across a myriad of industrial areas. These cutting-edge braking technologies utilize novelty techniques and materials to augment performance, security, and efficacy. An illustration of this is ZF Friedrichshafen AG, a technology firm based in Germany, that introduced Advanced Brake-by-Wire Solutions specifically designed for the worldwide construction sector in March 2023. This innovative brake system operates on an electronic signal which modulates brake pressure as necessary, thereby obviating the need for hydraulic lines in the cab. This shift supports the ongoing progression towards electric and autonomous vehicle operations.
Who Are the Key Players In The Industrial Brakes Market?
Major companies operating in the industrial brakes market are:
• Eaton Corporation plc
• Parker Hannifin Corporation
• Shanghai Borui Electric Co. Ltd.
• AMETEK Inc.
• Nabtesco Corporation
• Altra Industrial Motion Corp.
• Akebono Brake Industry Co. Ltd.
• Haldex AB
• ADVICS CO. LTD.
• KTR Systems GmbH
• Hilliard Corporation
• Kor-Pak Corporation
• Dellner Bubenzer
• Tolomatic Inc.
• Antec SA
• Kobelt Manufacturing Co. Ltd.
• SIBRE Siegerland Bremsen GmbH
• Kamco Components Ltd.
• Jiaozuo Changjiang Brake Co. Ltd.
• Carlisle Brake & Friction
• Jiangxi Huawu Brake Co. Ltd.
• Coremo Ocmea S.p.A.
• Emco Precima Engineering Pvt Ltd.
What Are The Regional Insights Into The Industrial Brakes Market?
North America was the largest region in the industrial brakes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial brakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
