PUBLISHER: The Business Research Company | PRODUCT CODE: 1619675
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619675
Industrial brakes are braking systems utilized in machinery and equipment to manage motion and ensure safety within industrial settings. Engineered for high performance and durability, these brakes are designed to handle heavy loads and frequent use, making them essential in manufacturing, transportation, and material handling applications.
The primary types of industrial brakes include mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, and electrically applied brakes. Mechanically applied brakes use mechanical force, such as a lever or pedal, to produce braking action. They are typically employed in situations where simple, direct control is needed, such as in bicycles, manual vehicles, and some industrial machinery. These brakes are used for holding, dynamic and emergency, and tension applications. The end-user sectors for industrial brakes encompass marine and shipping, mining, manufacturing, construction, entertainment, and more.
The industrial brakes market research report is one of a series of new reports from The Business Research Company that provides industrial brakes market statistics, including industrial brakes industry global market size, regional shares, competitors with a industrial brakes market share, detailed industrial brakes market segments, market trends and opportunities, and any further data you may need to thrive in the industrial brakes industry. This industrial brakes market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial brakes market size has grown strongly in recent years. It will grow from $1.24 billion in 2023 to $1.31 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to the rise in industrial automation, stricter safety regulations, increased manufacturing output, growing demand for high-performance machinery, and the need for dependable braking systems.
The industrial brakes market size is expected to see strong growth in the next few years. It will grow to $1.64 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to a focus on energy efficiency, an increase in renewable energy projects, an emphasis on predictive maintenance, a demand for customized solutions, and stricter safety and performance standards. Major trends during this period include the integration of IoT into braking systems, the development of advanced materials, a focus on miniaturization and compact designs, advancements in friction materials, and a shift towards sustainable and eco-friendly products.
The rise in manufacturing automation is expected to drive the growth of the industrial brakes market in the future. Manufacturing automation involves using technology, such as robots and control systems, to carry out tasks and processes with minimal human input. This trend aims to boost efficiency, precision, and productivity. Key drivers of increased automation include the need for enhanced efficiency, cost savings, improved accuracy, better safety, and the capacity to meet high production demands. Industrial brakes play a crucial role in automation by providing essential functions such as precise motion control, reliable emergency stopping, consistent performance under varying loads, and enhanced safety measures all vital for maintaining the efficiency and reliability of automated systems. For instance, a report by the International Federation of Robotics in September 2023 indicated that global installations of industrial robots reached 553,052 in 2022, marking a 5% increase from the previous year. Thus, the rise in manufacturing automation is fueling growth in the industrial brakes market.
Leading companies in the industrial brakes market are concentrating on the development of cutting-edge products, such as next-generation braking systems, to boost performance, improve safety, and optimize efficiency across diverse industrial applications. These advanced braking systems integrate innovative technologies and materials designed to enhance performance, safety, and overall efficiency. For example, in March 2023, ZF Friedrichshafen AG, a technology firm based in Germany, introduced its Advanced Brake-by-Wire Solutions specifically designed for the global construction sector. This new braking system uses electronic signals to regulate brake pressure as required, eliminating the need for hydraulic lines in the cab, and supporting the shift toward electric and autonomous vehicle operations.
In December 2023, AEQUITA, a Germany-based private equity firm, acquired TMD Friction Group GmbH. This acquisition will help maintain TMD's operational independence, integrate AEQUITA's management expertise for growth, and utilize AEQUITA's resources for global expansion and innovation. It significantly strengthens TMD's competitive position, supports research and development, and facilitates market expansion within the industrial brakes sector. TMD Friction Group GmbH, based in Germany, specializes in manufacturing industrial braking solutions.
Major companies operating in the industrial brakes market are Eaton Corporation plc, Parker Hannifin Corporation, Shanghai Borui Electric Co. Ltd., AMETEK Inc., Nabtesco Corporation, Altra Industrial Motion Corp., Akebono Brake Industry Co. Ltd., Haldex AB, ADVICS CO. LTD., KTR Systems GmbH, Hilliard Corporation, Kor-Pak Corporation, Dellner Bubenzer, Tolomatic Inc., Antec SA, Kobelt Manufacturing Co. Ltd., SIBRE Siegerland Bremsen GmbH, Kamco Components Ltd., Jiaozuo Changjiang Brake Co. Ltd., Carlisle Brake & Friction, Jiangxi Huawu Brake Co. Ltd., Coremo Ocmea S.p.A., Emco Precima Engineering Pvt Ltd.
North America was the largest region in the industrial brakes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial brakes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial brakes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial brakes market consists of sales of spring-applied brakes, regenerative brakes, pneumatic brakes, hydraulic brakes, railway brakes, and cranes and hoist brakes. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Brakes Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial brakes market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial brakes ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial brakes market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.