Industrial Brakes Market - Introduction
- An industrial brakes is a device used to control the motion of a moving body by absorbing its kinetic energy.
- Along with controlling the speed, the brakes also assist in delivering desired action or processing in respective applications as per requirement.
- Integration of automation in the industrial sector and adoption of industrial robotics are expected to boost the growth of the industrial brakes market in the coming years. Further, technological advancement in industrial brake systems including automatic braking systems and sensors-enabled brake systems are estimated to offer lucrative growth opportunities to market players in the near future.
- The global industrial brakes market is expected to expand at a rapid pace during the forecast period owing to increasing activities in construction and manufacturing sectors with rise in population.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Key Drivers of Industrial Brakes Market
- Application of industrial brakes are expected to increase with rise in demand for industrial robotics across all industries. These brakes facilitate the desired motion in the industrial sector by delivering right velocity as well as acceleration and deceleration of the industrial equipment. This will push the need for more industrial brakes.
- Moreover, it supports the holding and lifting of heavy loads in manufacturing plant activities. Industrial brakes are increasingly being used in manufacturing, metals & mining, and construction industries. Further, advanced technology solutions in automated brakes is expected to drive the growth of the market in the upcoming years.
- Rapid growth of the mining sector in emerging economies is anticipated to fuel the market growth in the next few years.
Volatile Prices of Raw Materials Restrict the Adoption Rate of Industrial Brakes
- Instability in prices of raw materials which are used in industrial brakes manufacturing causes a fluctuation in profit margin for market players.
- In addition, fluctuation in foreign currency especially in Europe, is anticipated to impact the profit margins of market players.
- Also, to reduce the harmful effect of metals and mining processes on the environment, governments have issued some regulations against the usage of these metals. These stringent regulations are expected to challenge the growth of the industrial brakes market in the coming years.
Stuck in a neck-to-neck competition with other brands? Request a custom report
North America to Hold Major Share of the Global Industrial Brakes Market
- In terms of region, the global industrial brakes market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America dominated the global industrial brakes market in 2018, accounting for significant share. The U.S. is the key market in North America due to presence of well-established manufacturers and high demand for industrial brakes enabled with technology driven motion control solutions involving sensors which influences the demand for industrial brakes in the country.
- The industrial brakes market in Asia Pacific is projected to expand at a rapid pace. This can be attributed to the growth in manufacturing activities and industrialization driven by low cost of production.
Industrial Brakes Market – Competitive Landscape
Altra Industrial Motion Corp.
Incorporated in 2004, Altra Industrial Motion Corp. is based in Braintree, Massachusetts, the U.S. The company possesses expertise in designing, production, and marketing of electromechanical power transmission motion control. It operates through the power transmission technologies; and automation and specialty segments. The company serves material handling, packaging, food and beverage, agriculture, medical, oil and gas, energy, and marine industries. It operates in the US, Europe, Africa, Australia, and Asia.
Carlisle Brake & Friction (CBF)
Established in 1924, Carlisle Brake & Friction is based in Solon, Ohio, the U.S. It is a leading manufacturer and supplier of high performance brake and friction system solutions for vehicles. The company has over 2000 employees and it serves over 100 leading OEMs (original equipment manufacturers) in 50 countries across the world. It has its manufacturing units in the U.S., U.K., Italy, China, and Japan among other countries. Carlisle Brake & Friction operates as a subsidiary of Carlisle Companies Incorporated.
Some of the other significant players in the industrial brakes market are
- Akebono Brake Industry Co., Ltd.
- Pintsch Bubenzer GmbH
- ANTEC, S.A.
- Eaton Airflex
- GKN Walterscheid GmbH
- Ringspann GmbH
- SIBRE - Siegerland Bremsen GmbH
- Coremo Ocmea S.p.A.
Industrial Brakes Market – Segmentation
The industrial brakes market can be segmented based on:
Industrial Brakes Market Segmentation – By Type
- Mechanically Applied Brakes
- Electrically Applied Brakes
- Pneumatically Applied Brakes
- Hydraulically Applied Brakes
- Drum & Disc Brakes
- Spring Brakes
Industrial Brakes Market Segmentation – By Application
- Dynamic & Emergency Brakes
- Holding Brakes
- Tension Brakes
Industrial Brakes Market Segmentation – By End-user Industry
- Metals & Mining
- Marine & Shipping
Industrial Brakes Market Segmentation – By End-user Industry
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.