Industrial Brakes Market Size, Share, and COVID-19 Impact Analysis, By Type (Disc and Drum), By Actuation (Mechanical, Hydraulic, Pneumatic, Electric, and Spring), By End User (Manufacturing, Mining, Construction, Marine and Shipping, Power and Energy, and Others), and Regional Forecast, 2024-2032

Industrial brakes are frictional devices that stop any object's movement, bear the force of load, and dissipate in the form of heat. In most applications, industrial brakes have to bear the inertial load as they are used coupled with the shaft. Industrial brakes are mostly bigger and different from automotive brakes as they have to bear the extreme inertial load and work in any weather condition. There are many advantages associated with industrial brakes as they are easier to modify and couple to get the most out of it from various applications. Furthermore, the presence of less number of parts and less complexity, and extended life that offers durability has helped the manufacturers a considerable revenue.

Furthermore, growing industrialization and the rising use of cranes and conveyors in the steel, manufacturing, food processing, warehousing, and medical industry have supported market growth. Moreover, manufacturers using advanced braking material has become a trend and offers high profit margins for the manufacturers that will boost sales significantly.

Impact of COVID-19 on the Global Industrial Brakes Market

The global COVID-19 pandemic has drawn some negative impacts on the market issues such as unstable material prices and supply chains. However, post-pandemic, major demand for industrial brakes is anticipated in the steel, nuclear, and construction sectors owing to the demand for easy installation, durability, and long life. While the closure of dealerships by manufacturers to maintain profit margins and logistic issues such as supply delays hamper the market to some extent. Hence, manufacturers are aiming to address these issues to enhance customer experience. Additionally, manufacturers can be seen investing more in research and development for advanced braking materials that offer grip and coolant features. Surging demand post-pandemic will bolster market dynamics.

Key Insights

The report will cover the following key insights:

• Recent industry trends and developments.


• Competitive landscape & strategic key players.


• Complete background analysis, including an assessment of the Global Industrial Brakes Market.


• Impact of COVID-19 on the Industrial Brakes Market

Analysis by End User

• Global Scenario has changed a lot after the pandemic, increasing investment towards research and strategies backed by data analytics helping manufacturers acquire clientage. Furthermore, advanced materials offering durability and extended life to end users help to curate leveraging margins on products.

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    • Warner Electric, a leading industrial brakes and clutches manufacturer, has developed a new FRCB brake consisting of specialized composite. Furthermore, its advantages include highly reliable stopping performance even in challenging conditions owing to the IP66 rating.
    
    
    
    
  
  
  
  

Regional Analysis

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• North America’s growing industrialization, outdoor equipment, and rising mechanical equipment manufacturing activities are estimated to dominate a major market share. Additionally, favorable policies and promotions for innovation and loosened industrial regulations support the market growth in this region.
  
  
  
  • In Feb 2021, Kobelt designed the new advanced brakes for the Hyperloop project. The project was a collaboration between Kobelt and the University of Toronto Hyperloop team.
  
  
  
  


• Asia Pacific’s robust demand was due to growth in industrialization and lucrative policies and incentives by the government to promote the Industry 4.0 program in this region. Moreover, the expansion of mining, construction, manufacturing, and energy & power projects is anticipated to hold a major market share.
  
  
  
  • The government of India provides lucrative incentives, up to USD 10 Billion, to make India a hub for electronics and towards setting up over 20 Semi-conduction design, manufacturing, display, and fabrication units.
  
  
  
  


• Europe’s rising environmental concerns have raised the demand for Electric Vehicles and EVs and dependencies on renewable energy for power fulfillment. This trend exists in the market for a longer duration and provides moderate growth to industrial brake manufacturers.
  
  
  
  • According to EU Renewable Energy directives, the EU aims to expand its dependencies on renewable energy from 20% in 2020 to 32% by 2030.
  
  
  
  


• The Middle East and African countries are growing oil drills, mining projects, and site exploration to expand logistic infrastructure to hike the sales of commercial and industrial brakes in this region. Moreover, rising warehouse infrastructure and manufacturing activities will also push the market.
  
  
  
  • Saudi Arabia, the Arab world’s biggest economy, is planning to deploy nine new projects to attract USD 32 Billion in investment for its mining and minerals sector.
  
  
  
  


• Latin America is projected to grow at a moderate pace with robust demand from the food and packaging industry. However, rising hydropower projects and energy infrastructure boost the demand for brakes in this region.
  
  
  
  • According to Wood Mackenzie, Latin America is projected to see a sharp hike in offshore wind projects, with capacity expanding to 34 GW by 2050.
  
  
  
  

Key Players Covered

Akebono Brake Industry Co., Ltd, Altra Industrial Motion Corporation, Ametek Inc., Aplicación Nuevas Tecnologías Antec SAU, Dellner Bubenzer Germany GmbH, Hilliard Corporation, Kobelt Manufacturing Co. Ltd., KOR-PAK Corporation, Ringspann GmbH, Tolomatic, Inc., SIBRE Siegerland Bremsen GmbH, Jiangxi Huawu Brake Co., Ltd., Emco Precima Engineering Pvt Ltd., KTR Systems GmbH, and Others.

Segmentation

Key Industry Developments

• October 2022- Regal Rexnord Corporation revealed that it had agreed with Altra Industrial Motion Corp. to acquire a 100% share. With the addition of Altra, Regal expects pro forma revenue of  approximately $7.2 billion in 2022.


• August 2022- German coupling and braking system specialist KTR Systems GmbH has founded a new subsidiary in Singapore, intending to expand its presence globally and serve the south Asian region.