New York, The Industrial Brakes Market was valued at US$ 1.2 billion in 2021 and it is anticipated to grow up to US$ 2.0 billion by 2031, at a CAGR of 5.1% during the forecast period.
Global Industrial Brakes Market report from Global Insight Services is the single authoritative source of intelligence on Industrial Brakes Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Industrial brake is a frictional device used to halt a spinning inertia load or to retain a component in a fixed position. In most cases, the inertia load is caused by many spinning components that must be halted. To slow anything down, they transform the kinetic energy created by friction between two surfaces into heat. Industrial brakes differ from car brakes in that they are used in a variety of industrial machines. Industrial brakes work in all-weather situations, require less maintenance owing to fewer moving components, and are easy to modify for various applications.
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During the forecast period, all of these reasons are likely to boost the demand for industrial brakes across the world. Industrial brakes provide numerous benefits, one of which is the low number of parts and spares needed. Other benefits include easy hygiene owing to the one-piece design, a high return on investment due to the extended life of industrial brakes, and the ability to work in harsh situations. Additionally, growing industrialization and increasing government investments in the industrial sectors to promote output are expected to have a substantial influence on the industrial brakes market during the projected period.
Market Drivers and Trends
Rise in government expenditure in industrial sectors and increase in industrialization across major parts of the globe are expected to fuel the demand opportunities in the global industrial brakes market in the upcoming years. Industrial brakes require minimal parts and spares that can be easily cleaned, and offer promising return on investment (ROI), owing to their durability. Moreover, they can be operated in challenging environments. On the back of these advantages, companies operating in the global industrial brakes market are experiencing demand from varied end-use industries, including construction, manufacturing, marine & shipping, power & energy, and mining.
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Global Industrial Brakes Market by Type
Based on type, it is segmented into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, and others. The hydraulically applied brakes segment is expected to be the largest segment in the industrial brakes market in 2021.
A hydraulic brake transfer pressure from the regulating device to the braking system using brake fluid, which commonly contains glycol ethers or diethylene glycol. When the brake pedal is squeezed in a hydraulic brake system, a pushrod applies force on the master cylinder piston/pistons, forcing fluid from the brake fluid reservoir to flow into a pressure chamber through a compensating port. As a consequence, the pressure of the entire hydraulic system rises, driving the fluid down the hydraulic lines to one or more calipers, where the brakes works on one or more caliper pistons sealed by one or more seated O-rings (which prevent leakage of the fluid). Due to above mentioned factors, the hydraulically applied brakes segment is expected to hold a major market share in 2021.
Global Industrial Brakes Market by Application
Based on application, it is segmented into holding brakes, dynamic and emergency brakes, and tension brakes. The holding brakes segment is expected to be the largest segment in the industrial brakes market in 2021. Motor holding brakes are responsible for maintaining the motor’s position when the power stage is turned off. The holding brake is neither a safety feature nor a maintenance brake. This brake is used in factory automation, medical equipment, elevators and escalators, construction equipment, robotics, and machine tool equipment. Many companies offer holding brakes for various applications and industrial environments. Thus, the holding brakes segment is expected to hold a major market share in 2021
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Major Players in the Global Industrial Brakes Market
The key players studied in the global industrial brakes market are Akebono Brake Industry Co., Ltd. (Japan), Altra Industrial Motion Corp. (U.S.), AMETEK.Inc. (U.S.), Carlisle Brake & Friction (U.S.), Coremo Ocmea S.p.A. (Italy), DELLNER BUBENZER Germany GmbH (Germany), Eaton Corporation plc (U.S.), Jiangxi Huawu Brake Co., Ltd. (China), RINGSPANN GmbH (Germany), and SIBRE (Germany).
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