A $1.6 Billion Global Opportunity for Industrial Brakes and Clutches by 2026 - New Research from StrategyR

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Mar 16, 2022, 06:10 ET

SAN FRANCISCO, March 16, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Industrial Brakes and Clutches - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 17; Released: February 2022

Executive Pool: 10136
Companies: 174 - Players covered include Altra Industrial Motion, Inc.; Boston Gear; Formsprag Clutch, Inc.; Inertia Dynamics LLC; Marland Clutch; Stromag; Warner Electric, Inc.; Dayton Superior Products Co., Inc.; Electroid Company; Hilliard Corp.; INTORQ GmbH & CO. KG; KEB Automation KG; Lenze SE; Magnetic Technologies Ltd.; Magtrol, Inc.; Ogura Clutch Co., Ltd.; Placid Industries, Inc.; Redex Andantex; Andantex USA, Inc.; Merobel; Regal Power Transmission Solutions; Rexnord Corp.; Sjogren Industries, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Mechanical Friction, Electromagnetic, Other Product Segments)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Global Industrial Brakes and Clutches Market to Reach $1.6 Billion by 2026
Brakes and clutches have become an indispensable component of modern day industrial activities. Principal end-use applications for industrial brakes and clutches include food and beverage processing, apparel and textiles, mining, machine tools and various other industries. The market is expected to be bolstered by continuously rising manufacturing and construction activities along with impressive expansion of the mining sector across emerging economies. Factors like rapid urbanization, favorable macroeconomic scenario and increasing disposable incomes have amplified construction activity and pushed consumption of finished products, including industrial brakes. The infrastructure sector in emerging countries including India, China and various nations in Africa has posted considerable expansion in the recent years, and is anticipated to maintain its positive trajectory post COVID-19 pandemic period. The trend is bound to propel the demand for manufacturing and construction equipment and machinery like lifts, cranes and construction equipment, providing a significant impetus to the industrial brakes and clutches market. Increasing demand and consumption of minerals is driving various emerging economies to invest in exploration of desired minerals. These countries are implementing various technologies like the Internet of Things and automation platforms to augment operational productivity and save on labor cost related to mining activity. These investments are anticipated to considerable drive the uptake of industrial brakes and clutches over the coming years.

Amid the COVID-19 crisis, the global market for Industrial Brakes and Clutches estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$1.6 Billion by the year 2026, growing at a CAGR of 3.6% over the analysis period. Mechanical Friction, one of the segments analyzed in the report, is projected to record a 3.2% CAGR. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Electromagnetic segment is readjusted to a revised 3.6% CAGR for the next 7-year period. Mechanical friction brakes and clutches are one of the highly used forms for engaging or stopping a load. Friction generated between two adjacent surfaces is the prime force guiding application of these brakes and clutches. Electromagnetic brakes and clutches are advancements over the traditionally used permanent magnet brakes and clutches that primarily function as friction based systems. These systems make use of only an electromagnetic force to manage and control the torque required for accomplishing the requisite braking operation.

The U.S. Market is Estimated at $319 Million in 2022, While China is Forecast to Reach $328.5 Million by 2026
The Industrial Brakes and Clutches market in the U.S. is estimated at US$319 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$328.5 Million by the year 2026 trailing a CAGR of 4.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.

Developed regions including the US, Canada, Japan and Europe constitute the core revenue contributors. Developed nations, being highly industrialized countries, have mature industrial environment with large enterprises actively operating in core sectors of oil & gas, power & energy, mining & minerals, metals, automotive/transportation, aerospace & defense, and food & beverages among others. The favorable scenario is poised to generate noteworthy opportunities for industrial technologies, and brakes & clutches being a key component in many of the technologies used in industrial facilities is expected to immensely benefit from the trend. Spearheaded by China, Asia-Pacific represents the fastest growing regional market for industrial brakes and clutches in the world. Anticipated positive economic cues in several countries in the region along with rising public and private investments in manufacturing and industrial sectors are pushing the demand for industrial brakes and clutches.

Mechanical Friction Based Brakes and Clutches Segment to Reach $709.6 Million by 2026
In the global Mechanical Friction Based Brakes and Clutches segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$475.2 Million will reach a projected size of US$566.2 Million by the close of the year 2026. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$73.9 Million by the year 2026, while Latin America will expand at a 3.7% CAGR through the analysis period. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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