Global industrial brakes market is projected to reach $1,129.9 million by 2023. Industrial brakes are an important part of the heavy vehicles industry. They are used in heavy vehicles such as earth movers, mining equipment, and construction equipment. The special characteristic of these brakes is that they have the ability to hold the equipment in place.
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On the basis of type, the market is divided into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, drum and disc brakes, and spring brakes. Electrically applied brakes is estimated to be the largest category in the industrial brakes market, contributing more than 30.0% in 2017. Electrically applied brakes are precise and provide greater safety, leading to greater adoption of these brakes by automobile companies.
Most of the construction equipment need these brakes as they carry heavy loads and if there is sudden failure of the equipment, the loads will fall. Thus, these brakes play a major role in avoiding any sudden accident in the workplace.
The global industrial brakes market is expected to witness a steady growth, owing to rise in the adoption of automation processes and subsequently increasing demand for industrial robotics. Globally, Asia-Pacific has been the largest market for these brakes.
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Some of the major players operating in the industrial brakes industry are Akebono Brake Industry Co., Ltd., Altra Industrial Motion Corp., Antec S.A., Carlisle Brake & Friction, Coremo Ocmea S.p.A., GKN Walterscheid Gmbh, Pintsch Bubenzer Gmbh, Ringspann GmbH, SIBRE – Siegerland Bremsen GmbH, and Eaton Corporation.
Global Industrial Brakes Market Segmentation
By Type
- Mechanically Applied Brakes
- Hydraulically Applied Brakes
- Pneumatically Applied Brakes
- Electrically Applied Brakes
- Drum & Disc Brakes
- Spring Brakes
By Application
- Holding Brakes
- Dynamic & Emergency Brakes
- Tension Brakes
By Industry
- Manufacturing
- Metal & Mining
- Construction
- Entertainment
- Marine & Shipping
- Others
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