Industrial Brakes and Clutches Market Size & Share, by Technology (Electric, Mechanical, Pneumatic, Hydraulic, Electromagnetic); Product Type (Dry, Oil Immersed); Sales Channel (OEM, MRO Services); End-use (Mining & Metallurgy, Construction, Power Generation, Industrial, Commercial, Logistics, Material Handling Industry) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Growing Expenditure on Infrastructure Projects – The government increased spending on infrastructure projects and increased demand for commercial and residential segments. Recently, a significant infrastructure investment plan proposed by the European Commission aims to raise USD 328.34 billion in funding for international development by 2027. China's highest legislative body approved the sale of USD 137 billion in national debt last week, and local governments are racing to prepare infrastructure projects to support building and disaster relief. Growth in construction projects is bringing more demand for construction equipment to handle larger amounts of weight. Brakes used help in letting construction equipment handle larger quantities of load. For instance, the construction of a large-scale industrial facility, like a manufacturing plant or a power plant. These projects involve the installation of various machinery, such as conveyor systems, turbines, and pumps. Again, clutches and brakes play a crucial role in controlling the movement and operation of these machines.
• Growing Implementation of Advanced Products - Throughout the projected period, a robust recovery in the industrial brakes and clutches market is anticipated due to the increased demand. The adoption of novel and inventive items, such as backstopping clutches and enhanced material brake shoes & rotors, is predicted to be the primary trend in the industrial brakes and clutches market. For instance, In industrial machine applications, the Tsubaki BR-HT (Backstop Reducer High Torque) family of backstops guards against back running. In the case of an equipment failure, the inner and outer races are locked together with zero back running thanks to the Cam Clutch design. The BR-HT series backstop is perfect for applications where a small installation footprint may be necessary, like industrial gearboxes, which are commonly used on inclined conveyors or bucket elevators, pumps, and winches. This is because the backstop can be directly placed into machinery.
• Growing Advancement in Technology – Throughout the forecast period, the market is anticipated to be driven by innovation in the manufacturing of industrial machinery due to the rapid advancements in technology. Additionally, the use of big data analytics, artificial intelligence, and 3D printing in manufacturing is increasing productivity and lowering operational costs while also increasing margins. Additionally, these devices leverage Internet of Things (IoT) apps to provide additional services and enable features like central feedback systems and remote monitoring.

Challenges

• Government Regulations to Slow Down the Market’s Growth – There are various obstacles in the way of manufacturing and distributing this product, including national prohibitions. Every nation has its industry standards and laws. These kinds of machinery are restricted in both their manufacturing and their sale. The import and export rates are regulated by the government, which occasionally affects business earnings and slows industrial brakes and clutches market expansion.
• Technical Issues of Electric Brakes and Clutches may Hamper the Market Growth
• Proper Safety of Workers and Property may Hinder the Growth of the Market