Industrial Brakes Market: Introduction
Transparency Market Research delivers key insights on the global industrial brakes market. In terms of revenue, the global industrial brakes market is estimated to expand at a CAGR of 3.7% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global industrial brakes market.
Companies are heavily investing in R&D to launch an exclusive collection of industrial brakes. Manufacturers are expanding their product lines to meet the increasing demand for industrial brakes. Moreover, the growing demand from a wide range of end-use industries is expected to boost the market during the forecast period.
Industrial Brakes Market: Key Segments
In terms of product type, disc brakes are expected to be the dominant brake type in terms of revenue and units sold. Furthermore, disc brakes are likely to expand at the highest CAGR during the forecast period. Industrial disc brakes have a higher temperature capacity for the brake disc and brake linings compared to drum brakes, have higher permitted surface compression of the brake linings, and consequently higher braking torque. Moreover, disc brakes have reduced maintenance, including ease of installation as maintenance of drum brakes is more difficult and takes a longer time. Disc brakes are expected to dominate the industrial brakes market during the forecast period due to these reasons.
Based on actuation type, electric actuation type industrial brakes are expected to lead in terms of revenue and units sold. Remote and wireless operations are becoming increasingly important and popular for many industries, such as manufacturing, marine and shipping, and power & energy. Electric actuated brakes are an ideal fit to address the demand for precise, reliable automation in the most demanding environments, in addition to their dependable performance, ease of installation, simplicity of design and control, and compact power.
In terms of end-use industry, manufacturing industry is expected to dominate the industrial brakes market both in terms of revenue and units sold. Moreover, the manufacturing industry is expected to expand at a higher CAGR, followed by marine and shipping for industrial brakes across the globe during the forecast period. The global manufacturing industry is valued at approximately US$ 18 Trn, with China, the U.S., Japan, Germany, and India being the top five manufacturing countries, holding cumulative share of approximately 16% of global manufacturing industry output. Increasing manufacturing across the globe in both developing and developed economies and rising government attention on manufacturing industry in underdeveloped and developing economics are expected to significantly drive the demand for industrial brakes during the forecast period across the globe.
In terms of distribution channel, direct sales channel is expected to be the dominant channel for the market across the globe during the forecast period. Most leading companies use the direct sales channel for distribution of goods and services. Customers purchasing industrial brakes tend to purchase the product directly from manufacturers to avoid the charges levied by the distribution partner.
Industrial Brakes Market: Prominent Regions
The market in Asia Pacific is expected to expand at the highest CAGR and become an upcoming market for sales of industrial brakes. Asia Pacific is home to a majority of emerging economies, which are manufacturing-driven economies. The market in Asia Pacific is anticipated to expand at a prominent growth rate during the forecast period, as various companies are shifting their manufacturing facilities to Asia Pacific. Initiatives & investments associated with increasing manufacturing in the region are expected to further boost the industrial brakes market in Asia Pacific.
As compared to other regions, the markets in Middle East & Africa and South America are expected to witness slower growth rate during the forecast period.
Industrial Brakes Market: Key Players
Key players operating in the global industrial brakes market are Akebono Brake Industry Co., Ltd., Altra Industrial Motion Corporation, Ametek Inc., Aplicación Nuevas Tecnologías Antec SAU, Dellner Bubenzer Germany GmbH, Hilliard Corporation, Kobelt Manufacturing Co. Ltd., KOR-PAK Corporation, Ringspann GmbH, Tolomatic, Inc., etc.
Global Industrial Brakes Market: Segmentation
Industrial Brakes Market, by Product Type
- Disc Brakes
- Drum Brakes
Industrial Brakes Market, by Actuation Type
Industrial Brakes Market, by End-use Industry
- Marine and Shipping
- Power and Energy
- Others (Packaging, Material Handling, Foods and Beverages, etc.)
Industrial Brakes Market, by Distribution Channel
Industrial Brakes Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our Report to take the right decision.View Report