North America Industrial Brakes Market to Reach $189.48 Mn, by 2025 at 3.4% CAGR: Allied Market Research

Surge in activities in the construction & manufacturing industries, increase in adoption of industrial robotics and automation processes, and focus on efficiency and safety of industrial machineries drive the growth in the North America industrial brakes market

PORTLAND, Oregon, July 23, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "North America Industrial Brakes Market by Type (Mechanically-applied Brake, Hydraulically-applied Brake, Pneumatically-applied Brake, Electrically-applied Brake, Drum & Disc Brake, and Spring Brake), Application (Holding Brake, Dynamic & Emergency Brake, and Tension Brake), and End-User Industry (Manufacturing, Metals & Mining, Construction, Entertainment, Marine & Shipping, and Others) - Opportunity Analysis and Industry Forecast, 2018–2025." According to the report, the North America industrial brakes market garnered $146 million in 2017, and is estimated to reach $189.48 million by 2025, registering a CAGR of 3.4% from 2018 to 2025.

Surge in activities in the construction & manufacturing industries, increase in adoption of industrial robotics and automation processes, and focus on efficiency and safety of industrial machineries drive the growth in the North America industrial brakes market. However, variations in prices of materials used for the manufacturing of industrial brakes and stringent regulations regarding industrial machineries limit the market growth. On the other hand, advent of technologically advanced brakes systems enabled with sensors present new opportunities in the industry.

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Electrically-applied brake segment to maintain its dominant position by 2025

Based on type, the electrically-applied brake segment accounted for more than one-third of the total market share in 2017, and will maintain its dominant position throughout the forecast period. This segment is expected to grow at the highest CAGR of 4.0% from 2018 to 2025. This is due to ever-growing adoption of robotics in various industries. The research also analyzes the segments of mechanically-applied brake, hydraulically-applied brake, pneumatically-applied brake, drum & disc brake, and spring brake.

Holding brakes segment to maintain its leadership status by 2025

Based on application, the holding brakes segment contributed to more than half of the total share in 2017, and will maintain its leadership status by 2025. This is attributed to its ability of rapid deployment and death grip of these brakes in uncertain situations. The dynamic & emergency brakes segment is estimated to register the highest growth rate with a CAGR of 3.7% from 2018 to 2025. This is due to rise in adoption of industrial automation in different end-user industries for enhancing the efficiency of the manufacturing. The research also analyzes the tension brake segment.

The U.S. to lead in terms of revenue during the forecast period

Based on country, the U.S. held the major share in 2017, accounting for more than three-fourths of the total market share in terms of revenue, and will continue to lead during the forecast period. This is due to surge in demand for automation and industrial robotics. However, Mexico would grow at the highest CAGR of 4.9% from 2018 to 2025, owing to the growing IIoT industry in the country leading to application of sensors in industrial equipment and machineries.

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Leading market players

The leading market players analyzed in the research include Akebono Brake Corporation, Carlisle Brake & Friction, Altra Industrial Motion Corp., Drive-Line Inc., Chassis Brakes International, Industrial Brakes Company, Eaton Corporation, Ogura Industrial Corp., Mach III Clutch, Inc., and The Carlyle Johnson Machine Company, LLC.

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