What is Global Industrial Brakes Market?
The Global Industrial Brakes Market is a vast and dynamic sector that plays a crucial role in various industries worldwide. It primarily deals with the production, distribution, and use of industrial brakes, which are essential components in machinery and equipment used in different industries. These brakes are designed to control or stop the motion of machines, often for safety purposes. The market's value was estimated at US$ 2238 million in 2022, and it is projected to grow to US$ 2954.7 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.0% from 2023 to 2029. The market is dominated by four major manufacturers who collectively hold a share of over 15%.
Disc Brakes, Drum Brakes, Others in the Global Industrial Brakes Market:
In the Global Industrial Brakes Market, there are several types of brakes, including Disc Brakes, Drum Brakes, and others. Disc Brakes are commonly used in various industries due to their efficiency and reliability. They work by applying force to a disc attached to the moving part of a machine, slowing or stopping its motion. On the other hand, Drum Brakes function by pressing brake shoes against a rotating drum's inner surface. The 'Others' category includes various other types of brakes used in specific applications or industries. Among these, Drum Brakes hold the largest market share, accounting for over 60% of the total market.
Material Handling, Mining, Lifts and Escalators, Energy, Marine and Shipping, Others in the Global Industrial Brakes Market:
The Global Industrial Brakes Market finds its applications in several areas, including Material Handling, Mining, Lifts and Escalators, Energy, Marine and Shipping, and others. In Material Handling, these brakes are used in equipment like forklifts, cranes, and conveyors to ensure safe and efficient operations. In Mining, they are essential for the safe operation of heavy machinery and vehicles. Lifts and Escalators also rely on these brakes for safety and control. In the Energy sector, they are used in power generation equipment, while in Marine and Shipping, they are used in various types of vessels and port equipment. The 'Others' category includes various other industries where these brakes are used.
Global Industrial Brakes Market Outlook:
To rephrase the market outlook, the Global Industrial Brakes Market, which was valued at US$ 2238 million in 2022, is projected to grow at a CAGR of 4.0% and reach a value of US$ 2954.7 million by 2029. The market is somewhat concentrated, with the top four manufacturers holding a combined market share of over 15%. In terms of product types, Drum Brakes are the most popular, accounting for over 60% of the market.
| Report Metric | Details |
| Report Name | Industrial Brakes Market |
| Accounted market size in 2023 | US$ 2335.1 million |
| Forecasted market size in 2029 | US$ 2954.7 million |
| CAGR | 4.0 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Altra, Eaton, CBF, Akebono Brake, Huawu, Jingu Brake, Dellner Bubenzer, SANYO SHOJI, SIBRE, Jiaozuo Changjiang Brake, Antec, GEMCO, Jiaozuo Brake, Shanghai Borui, Wulong, Tolomatic |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
