Source: Allied Analytics LLP announcement
PORTLAND, Ore. – The global industrial-brakes market was valued at $1.295 billion in 2020 and is projected to reach $1.957 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.1 percent according to a report recently released by Allied Analytics LLP.
Industrial brakes are a crucial component in many manufacturing and production processes.
Industrial brakes are designed to control the speed or position of machinery and equipment, ensuring the safety of workers and preventing damage to the machinery itself. There are several types of industrial brakes, including hydraulic, pneumatic, and mechanical brakes, which vary in their use and application depending on the specific needs of the industry.
The most common types of industrial brakes are friction brakes, which use friction between two surfaces to stop or slow down machinery, and eddy current brakes, which generate an electromagnetic field to slow or stop motion.
Industrial brakes are typically built to withstand harsh conditions and frequent use, and they must meet safety standards and regulations to ensure they function properly and prevent accidents.
Leading market players in the global Industrial Brakes market include:
Akebono Brake Industry Company
Carlisle Brake & Friction
Comer Industries Spa (Walterscheid Powertrain Group)
Coremo Ocmea S.p.A.
These players have implemented various strategies such as expansions, mergers & acquisitions, joint ventures, new product launches, and collaborations to strengthen their position in the industry.
Key benefits for stakeholders
This study contains an analytical representation of the Industrial Brakes market trends with present trends and forthcoming estimations to portray the imminent investment pockets.
The report provides the overall potential to understand the lucrative trends to gain a stronger base in the Industrial Brakes market.
The industrial brakes market analysis report offers statistics based on key determinants along with thorough impact analysis.
The present market forecast is quantitatively examined from 2021-2028 to target the financial capability.
Porter’s five forces analysis demonstrates the strength of the consumers and suppliers in the industry.
Industrial-brakes market segmentation:
Dynamic & Emergency Brakes
By End User Industry
Metal & Mining
Marine & Shipping