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The industrial clutches and brakes market size is estimated to grow at a CAGR of 3.4% between 2022 and 2027. The market size is forecast to increase by USD 279 million. The growth of the market depends on several factors such as increasing demand for higher capacity conveyor drives, technology-driven improvement in friction systems and rising need for industrial automation. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
This report extensively covers market segmentation by product (Mechanical friction clutches & brakes, Electromagnetic clutches & brakes, Over-running & heavy-duty, Other clutches & brakes), end-user (oil and gas industry, mining industry, power industry, and food and beverages and other industries), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Industrial Clutches and Brakes Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
Conventional braking systems that are incompetent in handling high-temperature applications suffer from low performance, resulting in more heightened maintenance costs. Consequently, at present, there is more emphasis on enhancing corrosion resistance, friction material stability, and performance tolerance of friction systems to lower the gap between minimum and maximum torque. Nevertheless, several applications require a wide range of speed control for their process in recent times. Consequently, the adoption of the developed wrap spring clutch is appropriate for low-speed and lighter-load applications. The introduction of stainless-steel friction wear surfaces for a saltwater splash environment is the most important recent development in this market.
However, the use of stainless-steel friction material protects the whole frictional surface and lowers the maintenance cost. As a result, such advanced and technologically driven clutches and brake systems are expected to fuel revenue through the replacement industrial brakes and clutches market. Thus, due to this driver, the market is expected to experience growth during the forecast period.
Companies are trying to achieve competitive advantages by differentiating their products from the rising competition. Thus, the requirement for customized clutches and brakes is growing to satisfy specific industrial solutions. Consumers require more value-added components such as custom coatings, limit switches, and epoxy-coated features in their coupling systems with variable torque. Earlier, tooth clutches and power-off brakes were rarely manufactured for high-speed applications. However, tooth clutches are meeting speeds exceeding 10,000 rpm, and power-off brakes handle speeds up to 20,000 rpm in recent times and this was achieved due to advances in software-based designs.
Also, applications are highly demanding better performance with the minimization of inertia in recent times. Consequently, manufacturers have started designing burnishing stands for pre-burnish brakes. Manufacturers are continuously developing application-specific clutches and brakes, which is anticipated to raise the adoption rate in this segment. Such factors are expected to experience significant market growth during the forecast period.
The major factors that surged the demand for electric drives in industrial applications are the need for energy efficiency and precise motion control. As electric drives control the speed of the motor by varying input voltage and current, they eliminate mechanical losses caused by traditional clutches and brakes and increase the system's efficiency.
In addition, due to the former's low maintenance characteristics, the electric drives segment dominates the traditional clutches and brakes segment, which may have a negative impact on the replacement industrial brakes and clutches market growth. Due to such factors, the market is anticipated to experience significant growth during the forecast period.
The mechanical friction clutches & brakes segment will account for a major share of the market's growth during the forecast period. Mechanical friction clutches are brakes that are generally used in the oil and gas, mining, and food and beverage industries. Mechanical friction clutches and brakes are used in draw works, drilling and service rigs, mooring and positioning, and mud pumps and platforms in the oil and gas industry.
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The mechanical friction clutches & brakes segment was the largest and was valued at USD 674.60 million in 2017. Also, mechanical friction clutches and brakes are used in conveyor systems and food and beverage industries in the food and beverage industry. The rising investment has increased the need for conveyor systems for food handling and packaging applications in the food and beverage sector. Such factors will increase the need for clutches and brakes. Thus, the frictional clutches and brakes market is likely to experience favorable growth in the food and beverage industry and, therefore drive the growth of the market during the forecast period.
Based on the end-user, the market has been segmented into the oil and gas industry, mining industry, power industry, food and beverages and other industries. The oil and gas industry segment will account for the largest share of this segment. Drilling and mud pump applications are a few of the major activities in the oil and gas industry that require the assistance of clutches and brakes. As the industry strives to improve efficiency and safety, there is a growing demand for improved clutches and brakes that can survive tough environments while providing dependable performance. Owing to such factors, the oil and gas industry is expected to pose significant demand for industrial clutches and brakes, thereby driving the growth of the market in focus during the forecast period.
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North America is estimated to contribute 42% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Another region offering significant growth opportunities to vendors is APAC. APAC is expected to be the potential region for the industrial clutches and brakes market. Rapid urbanization and industrialization in the region have augmented the demand for automation products.
Due to significant investments in renewable power, China is expected to lead the electric clutches and brakes market, particularly in the wind energy sector. China has been investing extensively in setting up wind energy plants in recent years. India and China are the major importers of oil and therefore the drop in crude oil prices will result in higher consumption in these countries. This will further result in a greater industrial expansion in these countries, creating a market for automation products. Such factors are expected to drive the market growth during the forecast period.
The outbreak of the COVID-19 pandemic had a substantial impact on the regional market in 2020. However, due to the introduction of COVID-19 vaccines by the regional governments. manufacturing activities in the oil and gas, mining, power and other industries restarted, increasing the demand for these products and the regional market began to revive in 2021. Such factors are expected to drive the growth of the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Altra Industrial Motion Corp. - The company offers industrial clutch and brakes products such as model LKB brakes, model LKM clutches, model CBA clutch brakes and model CBH clutch brakes.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Altra Industrial Motion Corp., Dayton Superior Products, Eaton Corp. Plc, EMBRAGATGES I DERIVATS S.A, GKN Automotive Ltd., Hilliard Corp., KEB Automation, Lenze SE, Magnetic Technologies Ltd., Magtrol Inc., Nexen Group Inc., Nidec Corp., Ogura Clutch Co. Ltd., REDEX Group, Regal Rexnord Corp., SEPAC Inc., Sjogren Industries Inc., The Rowland Co., Thomson Industries Inc., and Valcor Engineering Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The industrial clutches and brakes market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Industrial Clutches And Brakes Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.4% |
Market growth 2023-2027 |
USD 279 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.6 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 42% |
Key countries |
US, Canada, China, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Altra Industrial Motion Corp., Dayton Superior Products, Eaton Corp. Plc, EMBRAGATGES I DERIVATS S.A, GKN Automotive Ltd., Hilliard Corp., KEB Automation, Lenze SE, Magnetic Technologies Ltd., Magtrol Inc., Nexen Group Inc., Nidec Corp., Ogura Clutch Co. Ltd., REDEX Group, Regal Rexnord Corp., SEPAC Inc., Sjogren Industries Inc., The Rowland Co., Thomson Industries Inc., and Valcor Engineering Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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