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.
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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.
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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.
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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
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