Global Industrial Brakes Market Overview
As per MRFR analysis, the Industrial Brakes Market Size was estimated at 7.29 (USD Billion) in 2022. The Industrial Brakes Market Industry is expected to grow from 7.69 (USD Billion) in 2023 to 12.5 (USD Billion) by 2032. The Industrial Brakes Market CAGR (growth rate) is expected to be around 5.54% during the forecast period (2024 - 2032).
Key Industrial Brakes Market Trends Highlighted
The Industrial Brakes Market is expected to continue its growth trajectory in the coming years, driven by increasing demand from various end-use industries such as manufacturing, mining, and construction. The market is characterized by the presence of well-established players as well as the entry of new entrants offering innovative solutions. Key market drivers include the growing need for safety and productivity, advancements in automation and robotics, and the increasing adoption of electric and hybrid vehicles.
Opportunities for market exploration and capture lie in catering to the specific requirements of end-use industries and developing cost-effective and reliable braking solutions. Recent trends in the market include the integration of sensors and IoT technologies for remote monitoring and predictive maintenance, the development of compact and energy-efficient brakes, and the adoption of lightweight materials for enhanced performance.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Brakes Market Drivers
Growing Demand for Industrial Automation
Leading the way to significant growth in the Industrial Brakes Market industry is the increase in the adoption of industrial automation in various industries. To enhance their operations and to ensure the efficiency, productivity, and safety of these operations, there is a growing demand for automated systems and machinery in industries. Industrial brakes are essential components in automated systems to ensure that machinery is under complete control and stop when required. These brakes are further integrated with sensors, controllers, and other automation components to offer better functionality from a system point of view, so adding to the growth of the industrial brakes market.
Expansion of the Manufacturing Sector
Expansion of the manufacturing sector is another key factor concurrently driving the growth of the Industrial Brakes Market Industry. The rise in manufacturing operations, underlined by the expansion of the machinery and equipment sector, positively impacts the global market. Industrial brakes are an essential component of different manufacturing verticals, including metalworking, automotive, food and beverage, among others. The impetus for industrial development and the growing number of infrastructure projects in emerging nations drive the demand for new machinery, thereby expanding the manufacturing sector and increasing the demand for industrial brakes.
Advancements in Technology
In addition to the growing interest in the industrial sphere, the development of technologies also promotes the expansion of the industry market. In this instance, the constant development of innovative industrial brake solutions, such as electro-hydraulic, electromagnetic, and servo brakes, facilitates increased efficiency and performance of industrial brakes.
The primary advantage of such solutions is the nearly instantaneous response of the brakes, a high level of precision, as well a system safety. Therefore, the value of these brake types is further boosted by the development of an integrated sensor technology that utilizes IoT devices for the purpose of controlling the brakes and predicting possible future failures.
Industrial Brakes Market Segment Insights
Industrial Brakes Market Brake Type Insights
Description of the Top 5 Brake Types The Industrial Brakes Market is segmented by Brake Type into Hydraulic Brakes, Pneumatic Brakes, Mechanical Brakes, Electromagnetic Brakes, and Other Brake Types. In 2023, the Hydraulic Brakes segment held the largest market share of 35.4%, followed by Pneumatic Brakes with 28.1%, and Mechanical Brakes with 22.3%. Electromagnetic Brakes and Other Brake Types accounted for the remaining market share. Hydraulic Brakes. These systems provide smooth and precise control, making them optimal for several applications requiring high accuracy and responsiveness.
Pneumatic Brakes are usually utilized in high torques and heavy-duty applications due to the high torque produced by the pneumatic systems and their reliability. Mechanical Brakes are very cost-effective and easier to maintain, resulting in their use in low friction life, low speed, and low-load applications. Electromagnetic Brakes are compact due to having good response rates and are a popular choice for applications where rapid braking is a general prerequisite.
Industrial Break Types Growth Factors The growth factor of the Industrial Brakes Market includes the increasing use of automation in the manufacturing industry, the increase in the safety and efficiency demand from the industrial processes, and extensions in sector applications, like building, mining, and transport are some of the driving factors. Moreover, the development of technology in the current and new applications of advanced industrial brake equipment has propelled the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Brakes Market Application Insights
The Industrial Brakes Market is segmented based on application into Industrial Machinery, Automotive, Power Generation, Mining and Construction, Aerospace, and Other Applications. The Industrial Machinery segment held the largest share of the market in 2023, accounting for around 35% of the Industrial Brakes Market revenue. The growth of this segment is driven by the increasing demand for industrial automation and the need for reliable and efficient braking systems in various industrial machinery applications. The Automotive segment is expected to witness significant growth during the forecast period due to the rising production of vehicles and the increasing adoption of advanced braking systems.
The Power Generation segment is also projected to experience growth, driven by the increasing demand for electricity and the need for reliable braking systems in power plants. The Mining and Construction segment is expected to grow steadily, supported by the rising mining activities and the increasing construction projects globally. The Aerospace segment is expected to witness moderate growth, primarily driven by the demand for advanced braking systems in aircraft. Other Applications are expected to contribute a small share of the Industrial Brakes Market revenue.
Industrial Brakes Market Power Rating Insights
The Industrial Brakes Market is segmented by power rating into low power (below 10 kW), medium power (10-100 kW), and high Power (above 100 kW). The low-power segment is expected to witness significant growth over the forecast period due to the increasing demand for brakes in small and medium-sized industrial applications. The medium power segment is projected to hold a prominent share of the market, driven by the growing adoption of brakes in heavy-duty industrial machinery. The high-power segment is anticipated to register a steady growth rate, owing to the rising demand for brakes in large-scale industrial applications.
In 2023, the low-power segment accounted for approximately 35% of the Industrial Brakes Market revenue, followed by the medium-power segment with 45% and the high-power segment with 20%. By 2032, the low-power segment is projected to reach USD 4.2 billion, while the medium-power and high-power segments are expected to reach USD 5.6 billion and USD 2.7 billion, respectively. The growth of the Industrial Brakes Market is attributed to the increasing industrialization, automation, and urbanization worldwide.
Industrial Brakes Market Mounting Type Insights
Mounting Type Segment Insights and Overview The mounting type segment plays a crucial role in the Industrial Brakes Market. In 2023, the foot-mounted brakes segment held the largest market share, valued at approximately USD 3.2 billion. This dominance is attributed to their ease of installation and versatility, making them suitable for various industrial applications. Flange-mounted brakes are anticipated to exhibit significant growth over the forecast period, owing to their compact design and ability to withstand high torque loads. Shaft-mounted brakes, known for their ability to transmit torque directly to the shaft, are also expected to contribute to the segment's growth.
Other mounting types, including pedestal-mounted and caliper-mounted brakes, are projected to witness a steady increase in demand due to their specialized applications in specific industries. The Industrial Brakes Market segmentation provides valuable insights into the diverse mounting options available, enabling manufacturers to cater to the specific needs of different industrial sectors. This data empowers businesses to make informed decisions and develop targeted strategies to capitalize on growth opportunities within each segment.
Industrial Brakes Market Control System Insights
The Control System segment is a crucial aspect of the Industrial Brakes Market, contributing significantly to its overall growth. This segment encompasses various types of industrial automation control systems used in industrial brakes, including Manual Control, Automatic Control, and Semi-Automatic Control. Manual Control systems provide direct human intervention in brake operation, allowing operators to adjust and engage the brakes manually. In 2023, the Manual Control segment held a market share of around 35%, generating revenue of approximately USD 2.5 billion.
This segment is expected to maintain a steady growth trajectory, reaching an estimated USD 3.2 billion by 2032, exhibiting a CAGR of 3.2%. Automatic Control systems, on the other hand, offer automated brake operation based on pre-defined parameters or sensor inputs. This segment accounted for a market share of roughly 40% in 2023, with revenue reaching USD 2.8 billion. The increasing adoption of automation in industrial processes is driving the growth of this segment, which is projected to expand at a CAGR of 4.5% over the forecast period, reaching an estimated USD 4.1 billion by 2032.
Semi-automatic control systems combine elements of both manual and automatic control, providing operators with assisted brake operation while retaining some level of human intervention. In 2023, this segment held a market share of about 25%, generating revenue of approximately USD 1.8 billion. The segment is anticipated to grow steadily, reaching an estimated USD 2.6 billion by 2032, exhibiting a CAGR of 3.8%.
Industrial Brakes Market Regional Insights
The Industrial Brakes Market is segmented into North America, Europe, APAC, South America, and MEA. In 2023, North America held the largest market share, accounting for over 35% of the global revenue. The region is home to major industrial hubs and a large manufacturing sector, driving demand for industrial brakes. Europe is the second-largest market, with a market share of over 25%.
The region has a strong automotive industry, which is a major consumer of industrial brakes. APAC is the fastest-growing market, with a CAGR of over 6%. The region is experiencing rapid industrialization and growth in the automotive sector. South America and MEA are relatively smaller markets, but they are expected to grow at a steady pace in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Industrial Brakes Market Key Players And Competitive Insights
Industrial Brakes Market industry, major players are investing in research and development activities to take innovative products to the market. The industrial brakes industry's top leading players are also working on developing long-term strategic partnerships and M to increase their market share. The competitive condition in the industrial markets is estimated to continue to be fragmented, with a few international market-leading companies and several groups of niche players.
Major companies in the industrial brakes market include Altra Industrial Motion Corporation, Brembo S.p.A, Eaton Corporation plc, Hitachi, Ltd., and Robert Bosch GmbH. Altra Industrial Motion Corporation is a leader in the Industrial Brakes Market, offering a wide variety of industrial brakes, including disc brakes, drum brakes, and electromagnetic brakes. These are in use in the sector for multiple applications. The firm operates around the globe, serving the automotive, construction, and mining industries. It is dedicated to the production of quality items and new items in the market.
Another major player in the Industrial Brakes Market is Brembo S.p.A. It specializes in the manufacture and sale of high-performance braking systems for numerous applications. In the automotive business, the corporation is a well-known name and it sells brakes to some of the leading automobiles. Brembo S.p.A is also gaining ground in the marketplace, providing brakes to the industrial market sector for the applications of heavy-duty machinery and other applications. The firm is dedicated to providing dependable and high-performance brakes to its clients.
Key Companies in the Industrial Brakes Market Include
- Rexnord
- NSK
- Dana Incorporated
- Parker Hannifin
- ZF Friedrichshafen
- Sew-Eurodrive
- Altra Industrial Motion
- KTR
- Siemens
- Oriental Motor
- Eaton
- Rockwell Automation
- Brembo
- Tsubaki
- Bonfiglioli
Industrial Brakes Market Industry Developments
The Industrial Brakes Market is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 5.54% during the forecast period. Rising demand for industrial automation, increasing adoption of electric vehicles, and growing investments in infrastructure projects are key factors driving market growth. Recent news developments include the launch of new products, such as Magtrol's new line of industrial brakes, and strategic partnerships, such as the collaboration between Altra Industrial Motion and Brevini Power Transmission, to expand their product offerings.
Industrial Brakes Market Segmentation Insights
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Industrial Brakes Market Brake Type Outlook
- Hydraulic Brakes
- Pneumatic Brakes
- Mechanical Brakes
- Electromagnetic Brakes
- Other Brake Types (Specify)
-
Industrial Brakes Market Application Outlook
- Industrial Machinery
- Automotive
- Power Generation
- Mining and Construction
- Aerospace
- Other Applications (Specify)
-
Industrial Brakes Market Power Rating Outlook
- Low Power (below 10 kW)
- Medium Power (10-100 kW)
- High Power (above 100 kW)
-
Industrial Brakes Market Mounting Type Outlook
- Foot-Mounted Brakes
- Flange-Mounted Brakes
- Shaft-Mounted Brakes
- Other Mounting Types (Specify)
-
Industrial Brakes Market Control System Outlook
- Manual Control
- Automatic Control
- Semi-Automatic Control
-
Industrial Brakes Market Regional Outlook
-
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
7.29(USD Billion) |
| Market Size 2023 |
7.69(USD Billion) |
| Market Size 2032 |
12.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.54% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 – 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Rexnord ,NSK ,Dana Incorporated ,Parker Hannifin ,ZF Friedrichshafen ,SewEurodrive ,Altra Industrial Motion ,KTR ,Siemens ,Oriental Motor ,Eaton ,Rockwell Automation ,Brembo ,Tsubaki ,Bonfiglioli |
| Segments Covered |
Brake Type, Application, Power Rating, Mounting Type, Control System, Regional |
| Key Market Opportunities |
Digitalization of Industrial Brakes Advanced Safety Features Integration Growing Demand from Renewable Energy Sector Rise of IoT and Predictive Maintenance Focus on Sustainable and Environmentally Friendly Solutions |
| Key Market Dynamics |
Rising demand for automation Growing industrialization Government regulations Increasing safety concerns Technological advancements |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Industrial Brakes Market is anticipated to have an overall valuation of 7.69 Billion USD in 2023.
The Industrial Brakes Market is projected to reach an overall valuation of 12.5 Billion USD by 2032.
The Industrial Brakes Market is projected to register a CAGR of 5.54% from 2024 to 2032.
North American region is expected to hold the largest market share in the Industrial Brakes Market due to the increasing demand for industrial automation and the presence of a large manufacturing sector.
The material handling segment is expected to drive the growth of the Industrial Brakes Market due to the increasing demand for automated material handling systems in warehouses and distribution centers.
Some of the key competitors in the Industrial Brakes Market include Brembo, Continental AG, Haldex, Knorr-Bremse, and Wabco.
The major factors driving the growth of the Industrial Brakes Market include the increasing demand for industrial automation, the growing manufacturing sector, and the rising awareness of safety regulations.
The major challenges faced by the Industrial Brakes Market include the high cost of raw materials, the intense competition, and the stringent safety regulations.
The key trends in the Industrial Brakes Market include the increasing adoption of electric brakes, the growing demand for lightweight brakes, and the development of smart brakes.
The COVID-19 pandemic had a negative impact on the Industrial Brakes Market due to the disruptions in the supply chain and the decline in industrial production. However, the market is expected to recover in the coming years as the global economy recovers.
