Industrial Brakes Market is expected to grow ata CAGR of 3.3% from 2020-2030
The Industrial Brakes Market is expected to grow ata CAGR of 3.3% from 2020-2030, according to a new research report by Next MoveStrategy Consulting
Industrial brakes are friction devices used to control the movements of machinesduring operations. It helps in controlling the speed and thereby assists indelivering the desired result. These brakes are widely used in differentindustries such as packaging, processing, manufacturing, mining & others toenhance the productivity with minimum human supervision.
According to the report, continuous growth in industrial automationactivities all around the globe and wide applications in different industries aremajor factors driving the market growth. Also, constant advancement intechnology followed by rapid industrialization in the developing economies has tremendouslyincreased the demand for industrial breaks. Further, rising inclination towardshigher efficiency & safety along with high performance is expected to boostthe industrial brakes market. Moreover, large population base has increased thedemand for consumer products, which has led to the surge in industrial activityand thereby creating more demand for industrial breaks. On the other hand,growth in R&D activities for the development of new brakes to satisfy thefast changing needs can change the market trends.
However, volatile prices of raw materials and its availability areexpected to hamper the market growth in near future. Moreover, high adoptionrate of sensor breaks followed by the rapid integration of IoT, AI atindustrial level is anticipated to provide numerous opportunities to the marketplayers in the coming few years.
On the basis of type, the industrial brakes market is segmented into MechanicallyApplied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes,Electrically Applied Brakes, Drum & Disc Brakes, and Spring Brakes. ElectricallyApplied Brakes dominates the global industrial brakes market in terms of marketshare and will be the dominant segment during the forecast period.
On the basis of application, the industrial brakes market is categorisedinto Holding Brakes, Dynamic & Emergency Brakes, and Tension Brakes. Dynamic& Emergency Brakes are gaining popularity with significant growth rate andlikely to dominate the market over the forecast period.
On the basis of end user, the industrial brake market is divided intoMetals & Mining, Constructing, Manufacturing, Entertainment, Marine &Shipping, and Others. Manufacturing segment accounts for the major market share& likely to dominate the market growth in near future.
North America accounts for the highest market size & share in the industrialbrakes market in the forecast period, owing to the surge in automationactivities. In addition, rapid development of infrastructure and consistentadvancement in technology is expected to promote the market growth. Europe isthe second developed region in industrial breaks market in terms of marketsize. Asia Pacific is expected to be the fastest developing region in the industrialbrakes market, majorly driven by the growth in urbanization &industrialization activities in the region. Moreover, growth in construction& manufacturing activities owing to large population base is also expectedto propel the market growth over the forecast period.
According to the report, some the key players in the industrial brakesmarket are Altra Industrial Motion Corp., Akebono Brake Industry Co., Ltd.,Carlisle Brake & Friction, ANTEC, S.A., Eaton, Coremo OcmeaS.p.A., intsch BubenzerGmbH, SIBRE – Siegerl and Bremsen GmbH and Ringspann GmbH.
Browse key industry insights from the report, “IndustrialBrakes Market Size By Type (MechanicallyApplied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes,Electrically Applied Brakes, Drum & Disc Brakes, and Spring Brakes) ByApplication (Holding Brakes, Dynamic & Emergency Brakes, and Tension Brakes),By End User (Metals & Mining, Constructing, Manufacturing, Entertainment,Marine & Shipping, and Others)Regional Outlook (U.S., Canada, Germany, UK,France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia,Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE,Kuwait), Growth Potential, Price Trends, Competitive Market Share &Forecast, 2020–2030” in detail along with the tableof contents:
Key Insights from the Industrial Brakes MarketReport:
- Asia Pacific is the fastest growing region in the Industrial Brakes market owing to the growth in manufacturing & construction activities along with rapid industrialization & urbanization in the region.
· The Dynamic & Emergency Brakes segmentdominates the market growth in terms of application and is expected to grow ata significant CAGR to maintain the lead till 2030.
- Some of the major players in the market are Altra Industrial Motion Corp., Akebono Brake Industry Co., Ltd., Carlisle Brake & Friction, ANTEC, S.A., Eaton, Coremo OcmeaS.p.A., intsch Bubenzer GmbH, SIBRE – Siegerl and Bremsen GmbH and Ringspann GmbH.
The report Industrial Brakes market –segmented by type, application, end user and geography
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