North America industrial brakes market was valued at $146.0 million in 2017, and is projected to reach $189.48 million in 2025, growing at a CAGR of 3.4%. Report analysis by Type, Application, and End-User Industry.
Industrial brakes assist manufacturers by absorbing the kinetic energy of the equipment & machineries, subsequently resulting in the desired motion for industrial application. Further, they are also capable of holding heavy platforms & payloads in the manufacturing plant as well as applying emergency brakes for ensuring the safety of the workstations. In addition, they also provide the required tension in several equipment and machineries in various end-user industries. 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.
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Rise in adoption in industrial automation and adoption of industrial robotics fuels the demand for industrial brakes. Moreover, the versatile benefits associated with industrial robotics such as movement within the workspace, lifting payloads, and performing application-specific tasks that require controlling the motion of the robots, are also anticipated to drive the growth of the industrial brakes market in the coming years. Further, growth in the construction and mining activities is anticipated to increase the demand for the industrial brakes market in future.
The industrial brakes have applications in various end-user industries such as construction, metals & mining, entertainment, marine & shipping, and military & aerospace. The industrial brakes function in cranes, lifts & escalators, packaging machines, amusement rides, wind turbines, fans & ventilators, construction equipment textile machines, and assembly stations to name a few. Thus, the increase in activities in these industries and subsequent demand for automation of processes are expected to drive the growth of the North America industrial brakes market in the coming years.
Surge in activities in the construction & manufacturing industries, increase in adoption of industrial robotics and automation processes, and focus on efficiency and safety of industrial machineries drive the growth in the North America industrial brakes market. However, variations in prices of materials used for the manufacturing of industrial brakes and stringent regulations regarding industrial machineries limit the market growth. On the other hand, advent of technologically advanced brakes systems enabled with sensors present new opportunities in the industry.
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Based on application, the holding brakes segment contributed to more than half of the total share in 2017, and will maintain its leadership status by 2025. This is attributed to its ability of rapid deployment and death grip of these brakes in uncertain situations. The dynamic & emergency brakes segment is estimated to register the highest growth rate with a CAGR of 3.7% from 2018 to 2025. This is due to rise in adoption of industrial automation in different end-user industries for enhancing the efficiency of the manufacturing. The research also analyzes the tension brake segment.
Key Findings of the North America Industrial Brakes Market:
- Based on application, the holding brake segment dominated the market in terms of revenue in 2017, and is projected to grow at a CAGR of 3.7% during the forecast period.
- U.S. generated the highest revenue in 2017, and Mexico is anticipated to grow at the highest CAGR of 4.9%.
- Based on type, the electrically-applied brake segment generated the highest revenue in 2017, and is estimated to grow at the rate of 4.0%.
- Based on end-user industry, the manufacturing segment accounted for the largest market share in 2017.
The key players profiled in this report include Akebono Brake Corporation, Altra Industrial Motion Corp.
Carlisle Brake & Friction, Chassis Brakes International, Drive-Line Inc., Eaton Corporation, Industrial Brakes Company, Mach III Clutch, Inc., Ogura Industrial Corp. and The Carlyle Johnson Machine Company, LLC.
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