Industrial Brakes Market to Exceed Valuation of US$ 1.72 Bn by 2031; Market Players to Experience Surge in Demand for Hydraulic Brakes, Notes TMR Report

- The global industrial brakes market is projected to expand at a CAGR of 3.7% during 2021-2031. Players are expected to witness lucrative opportunities from nuclear, construction, and steel industries.

- Major market players are focused on fulfilling the rising demand for easy to install and maintain industrial brakes

ALBANY, N.Y., Nov. 19, 2021 /PRNewswire/ -- Industrial Brakes Market: Overview

Prior to using latest technologies as well as entering into newer geographies, several market players are making data-driven decisions. In order to maintain their revenue stream during the COVID-19 pandemic, major enterprises in this industry are focused on entering into long-term business collaborations with companies engaged in food & beverage, agriculture, and packaging industries, which are working consistently during the pandemic situation.

According to analysts at Transparency Market Research (TMR), major companies operating in the industrial brakes market are focused on the launch of technologically advanced products that are less complicated and need no or negligible technical proficiency to understand their functions and applications by professionals from varied end-use industries.

Industrial Brakes Market: Key Findings

Rise in Usage of Spring-applied Brakes in Wind Turbines and Conveyor Systems

Several enterprises are investing heavily in R&D projects, which are focused on the development of spring-applied brakes that offer high torques, wear resistance, and permissible braking energies.

For instance, Kendrion is developing spring-applied brakes that deliver improved wear resistance and superior braking energy.

Moreover, there has been significant growth in demand for spring-applied brakes for application in conveyor systems, robotics, and wind turbines. Thus, companies are strengthening their production capabilities for spring-applied brakes used in varied installation and integration options.

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Players Observe Prominent Demand for Mechanical and Hydraulic Brakes

Hydraulic and mechanical brakes find application in varied industrial equipment. Hydraulic brakes are gaining traction owing to their ability to offer high level of efficiency in comparison with majority of other brakes types. Moreover, these products are considered cost-effective in comparison with many other options in the market. On the other hand, mechanical brakes are widely adopted, as they can absorb energy and work by producing frictional forces. The surface area of frictional surfaces plays a key role in the stopping power of mechanical brakes.

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Industrial Brakes Market: Growth Boosters

• 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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Industrial Brakes Market: Regional Analysis

• Companies are expected to gain prominent growth avenues in the Asia Pacific region. Notable increase in initiatives as well as investments by regional governments in order to boost varied manufacturing activities in Asia Pacific is projected to help in the expansion of the Asia Pacific industrial brakes market.
• With surge in demand for industrial brakes from regional construction, manufacturing, power & energy, and mining industry, major enterprises in the global industrial brakes market are seen introducing their manufacturing units in the Asia Pacific region

Industrial Brakes Market: Key Players

Some of the key players operating in the global industrial brakes market are:

• Altra Industrial Motion Corporation
• Akebono Brake Industry Co., Ltd.
• Aplicación Nuevas Tecnologías Antec SAU
• Ametek Inc.
• Hilliard Corporation
• Dellner Bubenzer Germany GmbH
• KOR-PAK Corporation
• Kobelt Manufacturing Co. Ltd.
• Tolomatic, Inc
• Ringspann GmbH

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Industrial Brakes Market Segmentation

Product Type

• Disc Brakes
• Drum Brakes

Actuation Type

• Mechanical
• Hydraulic
• Pneumatic
• Electric
• Spring

End-use Industry

• Manufacturing
• Construction
• Mining
• Marine and Shipping
• Power and Energy
• Others (Packaging, Material Handling, Foods and Beverages, etc.)

Distribution Channel

• Direct
• Indirect

Regions Covered

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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