Industrial Brakes Market Size Worth $1,816.70 Million, Globally, by 2028 at 5.6% CAGR - Exclusive Report by The Insight Partners

The Industrial Brakes Market Size is driven by growth of global manufacturing sector stringent rules and regulations related to industrial machinery and availability of technology-driven solutions in automated brakes. The global market is dominated by hydraulically applied brakes segment in 2020, which accounted for 34.9%. APAC held the significant market share in year 2020, along with the notable revenue generation opportunities in Europe and North America.

New York, Dec. 16, 2021 (GLOBE NEWSWIRE) -- According to the new market research report "Industrial Brakes Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Mechanically Applied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes, Electrically Applied Brakes, and Others), Application (Holding Brakes, Dynamic and Emergency Brakes, and Tension Brakes), and Industry Vertical (Manufacturing, Metal and Mining, Construction, Power Generation, Marine and Shipping, and Others)", published by The Insight Partners, the global industrial brakes market is expected to grow from US$ 1,234.22 million in 2021 to US$ 1,816.70 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.

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Industrial Brakes Market: Competitive Landscape and Key Developments
Altra Industrial Motion Corp., Carlisle Brake and Friction (CBF), SIBRE Siegerland Bremsen GmbH, Jiaozuo Brake Jiangxi Huawu Brake Co., and Coremo Ocmea S.p.A are among the key players that are profiled during this market study. In addition, several other essential market players were studied and analyzed to get a holistic view of the global industrial brakes market and its ecosystem.  

  • In 2021, Lynk & Co, a luxury vehicle brand owned by Geely Auto Group based in China, embraced Akebono Brake Industry Co., Ltd.'s products. For the front wheels of the "05+" model, a high-performance SUV, Akebono is supplying 4-pot disc brake callipers and copper-free disc brake pads. This is the first time the Lynk & Co brand has used our goods.
  • In 2021, Altra Industrial Motion Corp., a specialist in advanced brake technology for industrial applications, commissioned two complex installations to increase the safety and dependability of mine hoists at the Cayuga Mine, owned by Cargill Deicing Technology in central New York State, US.
  • In 2020, The SAHR RT Series Park Brake, a spring-applied hydraulically released sliding caliper brake with a failsafe design for parking, secondary, and industrial stopping demands, has been introduced to Carlisle Companies Incorporated's product line. Fixed mountings are required for both the caliper and the disc, Numerous calipers can be utilized on a single disc to proportionately enhance torque output.

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Report Coverage Details
Market Size Value in US$ 1,234.22 million in 2021
Market Size Value by US$ 1,816.70 million by 2028
Growth rate CAGR of 5.6% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 136
No. Tables 83
No. of Charts & Figures 87
Historical data available Yes
Segments covered Type, Application, and Industry Vertical
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

The Fourth Industrial Revolution—Industry 4.0—is transforming the global industrial sector by combining physical, digital, and biological domains. Advanced technologies such as the Internet of Things, artificial intelligence, Blockchain, robotics, and additive manufacturing are reshaping the future of the manufacturing industries. Industrial brake manufacturers are offering easy-to-operate industrial brakes whose function can be understood based on little technical knowledge. For instance, in March 2020, Altra Industrial Motion Corporation announced the development of a novel electromagnetic brake that operates with much less power consumption. The brake is highly efficient and suitable for electric vehicle applications as well as a wide variety of gentle stops. The new offering will help Altra Industrial Motion Corporation in obtaining new customers, securing larger market share, and making greater revenues.

Asia Pacific dominates the Global Industrial Brakes Market due to the presence of continuous and large manufacturing units and production projects, and the surge in new activities in India, China, and Japan. Persistent developments in the industrial sector in Asia Pacific countries adds to their economic prosperity. This change has resulted in rising affluence, urbanization, and population expansion. Furthermore, Asia Pacific makes for a substantial portion of the global energy consumption, with the industrial sector accounting for the majority of the regional energy consumption. The region comprises 58 economies and is home to over 60% of the world's population. As per ADB Annual Report 2018, its share in the global purchasing power parity gross domestic product (GDP PPP) increased from 30.1% in 2000 to 42.6% in 2017, and three nations—China, Japan, and India—accounted for more than 70% of the region's total production in 2017. In 2014, total energy consumption of Asia Pacific increased at double the pace of the world; it consumes more than 50% of the total energy supply of the world and accounts for ~55% of global fuel emissions.

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Industrial Brakes Market: Component Overview
Based on type, the global industrial brakes market is segmented into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, and others. Mechanically applied brakes apply force, most commonly friction, to slow or stop a machine or an object from moving. The force is applied to a body that is in rotational or linear motion, such as an axle, shaft, or wheel. Mechanical brakes are used in material handling, manufacturing, and other power transmission applications, and are most commonly associated with automobiles. For engaging and disengaging shafts, mechanical brakes are frequently used in conjunction with a mechanical clutch. To decelerate, friction-based brakes use a coarse and tough substance (a brake lining) that is tightened or forced against a moving body. Friction-based braking creates a lot of heat and considerable noise, which degrades the involved surface areas.

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