The market for Industrial Brakes and Clutches is expected to reach US$ 2,893.8 Million by 2033, growing at a 4.6% CAGR. Market growth is being fueled by consumer demand for industrial brake and clutch products, which is growing along with the industrial sector's development. The market has been thoroughly evaluated in the report on the global industrial brakes and clutches market.
The market for holding and dynamic brakes and clutches used in industrial process equipment includes turbines, downhill and overland conveyors, uphill, overhead cranes, bridges, trolleys, hoists and winches, motors and engines, rotors and yaw systems, cable cars and ropeways, elevators as well as stacker reclaimers.
| Attributes | Details |
|---|---|
| Market Size (2022) | US$ 1,764.5 Million |
| Market Size (2023) | US$ 1,845.7 Million |
| Market Size (2033) | US$ 2,893.8 Million |
| Value CAGR (2023 to 2033) | 4.6% |
Industrial brakes and clutches have evolved into crucial components and have served as the foundation for these heavy-duty machines as industrialization and the use of heavy-duty machinery have increased. Industrial equipment must be properly designed with brakes and clutches for a wide range of applications in order to ensure safety and proper operation.
The industrial brakes and clutches market is expected to grow steadily throughout the forecast period due to continued demand for MRO services. OEM needs, or demand from new equipment manufacturers, are anticipated to grow more moderately than MRO services since industrial equipment has a shorter operating life span than MRO services.
The favorable macroeconomic environment is anticipated to have a considerable positive impact on the growth of the industrial brakes and clutches market since it will lead to significant expansion of the industries that industrial brakes and clutches target.
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The market for Industrial Brakes and Clutches, which has historically evolved at a CAGR of about 2.5% from 2018 to 2022, is predicted to be worth 1,845.7 Million by 2023, according to the report.
The global supply chain and sales of industrial brakes and clutches were affected by COVID-19 and the Russia-Ukraine War, among other factors. The pandemic's forced lockdown hampered the development of industrial brakes and clutches, while regional-level conflict limitations during this period had an impact on economic swings and raw material prices.
The growing demand in the industrial Brakes and Clutch market will expacted to gain strong recovery in the forecast period. The main trend in the market for industrial brakes and clutches is anticipated to be the adoption of new and innovative products, such as backstopping clutches and improved material brake shoe & rotors. FMI's estimation of the global demand for Industrial Brakes and Clutches forecasts a CAGR of 4.6% by 2033.
The industrial brakes and clutches market has been expanding as a result of the manufacturing sector's shift to automation and smart manufacturing, as well as rising investments in industrial automation equipment.
However, standards and regulations that mandate reliable equipment performance and proper safety of people and property have a significant impact on industries around the world. These regulations also compel manufacturers to prioritize product development and research, which in turn drives market expansion.
The industrial brakes and the clutch market is predicted to experience growth due to the anticipated expansion of end-use sectors like oil and gas, mining, lumber, coal handling, steel, cable cars and ropeways, power generation, and mining, among others during the forecast period.
Principal Consultant
The demand for industrial brakes and clutches is growing in accordance with the development of the industrial sector. To be suited for industrial development and trouble-free use, these industrial brakes and clutches may need special assembly, installation, or adjustment requirements. To regulate the air gap created during operations, a particular design and assembly method is required. These assemblies require precise care since irregular maintenance can reduce their lifespan.
A significant proportion of electric brakes and clutches have vibrational problems due to the system being put together unevenly or incorrectly. The development of additional strains and vibrations can lead to serious issues if bearings and shafts are not aligned. Operating vibrations caused by unequal loads, improper alignment, or incorrect assembly are all reasons that are moderately hampering the demand and relatively the global industrial brakes and clutches market.
The manufacturing facilities for industrial clutches and brakes are concentrated in North America and Europe. In these regions, there are several prominent players that manufacture industrial brakes and clutches. Furthermore, when plotted on a global scale, these regions are predicted to be the leaders in technology.
The regions are expected to experience a considerable growth rate for new and cutting-edge technologies when compared to other regions. Asia Pacific is forecast to grow into a profitable market for industrial brakes and clutches as a result of the region's anticipated substantial investment in industrial automation.
Oil & gas projects, new infrastructure construction, and other factors will all contribute to an increase in demand for industrial brakes, clutches, and MRO services. Oil & gas, mining, and construction are expected to be the primary markets in the Middle East and Africa for industrial brakes and clutches, and favorable growth is predicted during the forecast period.
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Market participants will have significant opportunities in the future as a result of the industrial sector's continuous growth and moderate fragmentation. Competitors in the market for industrial brakes and clutches are competing directly with one another when it comes to the development of new products, and they are also aiming to acquire or merge with other top players to enhance their position in the market.
The key players operating in the Industrial Brakes and Clutches market include Altra Industrial Motion Corp., The Carlyle Johnson Machine Company, LLC, Eaton Corporation Plc, Johnson Industries Ltd., Hindon Corporation, Kobelt Manufacturing Co. Ltd., Ogura Industrial Corp., Dayton Clutch & Joint., PT Tech Power Innovation, Boston Gear, Formsprag Clutch, Inc., Inertia Dynamics LLC, Marland Clutch, Stromag, Warner Electric Inc. and Others.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Technology, Product Type, Sales Channel, End-Use Industry, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; Middle East and Africa |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy, France, United Kingdom, Spain, Benelux, Russia, China, Japan, South Korea, India, ASEAN, Australia and New Zealand, GCC Countries, Turkiye, South Africa, North Africa |
| Key Companies Profiled | Altra Industrial Motion Corp.; The Carlyle Johnson Machine Company, LLC; Eaton Corporation Plc; Johnson Industries Ltd.; Hindon Corporation; Kobelt Manufacturing Co. Ltd.; Ogura Industrial Corp.; Dayton Clutch & Joint.; PT Tech Power Innovation; Boston Gear; Formsprag Clutch, Inc.; Inertia Dynamics LLC; Marland Clutch; Stromag; Warner Electric, Inc.; Others |
| Customization & Pricing | Available upon Request |
In 2021, the value of the Industrial Brakes and Clutches Market reached over US$ 1,764.5 Million.
During the forecast period, the Industrial Brakes and Clutches Market is estimated to expand at a CAGR of 4.6% during 2023 to 2033.
The Industrial Brakes and Clutches Market is projected to reach US$ 2,893.8 Million by the end of 2033.
North America region is projected to lead the Industrial Brakes and Clutches market in the forecast period.
The key players operating in the Industrial Brakes and Clutches market are Altra Industrial Motion Corp., The Carlyle Johnson Machine Company LLC, Eaton Corporation Plc, Johnson Industries Ltd., Hindon Corporation, Kobelt Manufacturing Co. Ltd., Ogura Industrial Corp., etc.
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Industrial Brakes And Clutches Market
