Industrial Brakes and Clutches Market size is anticipated to reach USD 3 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of industrial brakes and clutches was over USD 1 Billion. As industrialization and the use of heavy-duty machinery have risen, industrial brakes and clutches have developed into essential parts and have formed the basis for these heavy-duty machines. For a variety of purposes, industrial equipment needs to be correctly constructed with brakes and clutches to guarantee both safety and proper performance.
Due to the ongoing need for MRO services, the industrial brakes and clutches market is anticipated to expand gradually throughout the projected period. Since industrial equipment has a shorter working life than MRO services, OEM needs, or demand from new equipment manufacturers, are expected to expand more modestly than MRO services.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
~ 5% |
Base Year Market Size (2023) |
~ USD 1 Billion |
Forecast Year Market Size (2036) |
~ USD 3 Billion |
Regional Scope |
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Technology (Electric, Mechanical, Pneumatic, Hydraulic, Electromagnetic)
Industrial brakes and clutches market for the hydraulic segment is expected to hold the largest revenue share of 37% during the forecast period. Advantages such as better heat dissipation than mechanical brakes, better braking power transmission, compact size, and ease of repair due to the ream, daily available brake parts in the aftermarket are propelling the growth of the segment. Hydraulics are simple to operate at the touch of a button since they rely on the continuous circulation of fluid rather than a rising and falling motion. A hydraulic piston's speed and range are easily adjustable by users. Furthermore, hydraulic systems find extensive usage in heavy gear, construction equipment, and industrial manufacturing operations. Their increasing popularity can be attributed to their adaptability and versatility.
End-use (Mining & Metallurgy, Construction, Power Generation, Industrial, Commercial, Logistics and Material Handling Industry)
Mining & metallurgy segment in industrial brakes and clutches market is expected to hold a share of 32% by the end of 2036. The demand for minerals such as iron ore, copper, gold, and aluminium is expected to rise in the coming years. This increases the demand for dependable and efficient mining and metallurgical processes, which call for strong clutching and braking systems to manage large machinery and equipment. Additionally, mining activities are extending to new locations and areas due to the increased demand for metals and minerals. As per a report, the global economy depends heavily on the mining industry. In 2022, the aggregate revenue of the top 40 mining corporations worldwide, which account for the great majority of the industry, reached a record 943 billion US dollars. For the mining equipment to remain safe and productive during this expansion, sophisticated braking and clutching systems must be implemented. Additionally, the efficiency and performance of industrial brakes and clutches have increased with the addition of cutting-edge braking and clutching technologies like electromagnetic and hydraulic systems.
Our in-depth analysis of the global industrial brakes and clutches market includes the following segments:
Technology |
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Product Type |
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Sales Channel |
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End-user |
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North American Market Forecast
North American industrial brakes and clutches market is expected to hold a share of 35% during the forecast period. The expansion of technological innovation, including the creation of braking systems that are more dependable and efficient. These developments boost productivity across a range of industries by improving performance and decreasing downtime. Additionally, industries stress the safety of their personnel and equipment, and the region has strict regulations regarding safety. Industrial clutches and brakes are essential for preserving safety because they offer exact control, holding power, and emergency-stopping capabilities. Furthermore, in North America, the importance of sustainability and energy efficiency is rising. There is a demand for industrial clutches and brakes with energy-saving features such as regenerative braking systems.
APAC Market Statistics
Industrial brakes and clutches market in Asia Pacific is anticipated to grow significantly with a share of 28% by the end of 2036. The majority of rising economies, primarily powered by manufacturing, are found in Asia Pacific. The region is making significant investments in the construction of manufacturing, energy, and transportation infrastructure. Industrial clutches and brakes are necessary for these projects because they involve the use of large machinery and equipment, which is necessary to guarantee their safe and effective functioning. Significant industrial expansion is also taking place in the region, with South Korea, Japan, China, and India setting the pace. Because of this industrialization, there is a greater requirement for machinery and equipment, which in turn raises the need for industrial clutches and brakes that are dependable and effective.
Author Credits: Richa Gupta
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