North America industrial brakes market was valued at $146 million in 2017, and is projected to reach $189.48 million by 2025, growing at a CAGR of 3.4%
PORTLAND, UNITED STATES, UNITED STATES, May 24, 2023 /EINPresswire.com/ — The North America Industrial Brakes Market is expected to experience significant growth in the coming years, owing to the increasing demand from various industries including automotive, manufacturing, and construction. Industrial brakes refer to the mechanical devices used in industrial and manufacturing processes to increase or decrease mechanical force or speed. The demand for industrial brakes is being fueled by the advancements in the automotive, manufacturing, and construction industries, advancements in technology, and a growing need for safety in industrial and manufacturing operations.
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Market Dynamics
The North America industrial brakes market was valued at $146 million in 2017, and is projected to reach $189.48 million by 2025, growing at a CAGR of 3.4%.The increasing demand for industrial brakes is driven by the growth in the automotive, manufacturing, and construction industries. There is a growing demand for industrialized brakes in these industries to ensure speed control, safety, and energy efficiency. Additionally, technological advancements are expected to further drive the market for industrial brakes in North America. The growth of the robotics industry is also known to increase the demand for industrial brakes in North America.
Moreover, the growing importance of safety in industrial and manufacturing operations is driving the demand for industrial brakes. Projections suggest that the safety regulation standards for industries are expected to increase in North America, further driving the need for industrial brakes. Additionally, industrial brakes provide energy savings and improved efficiency, making them an attractive option for industrial applications.
Market Segmentation
The North America industrial brakes market has been segmented by type, application, and geography. By type, the market is divided into disc brakes, drum brakes, and band brakes. By application, the market is segmented into automotive, manufacturing, construction, robotics, and others. By geography, the market is segmented into the United States, Canada, and Mexico.
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Regional Analysis
The North America industrial brakes market is expected to witness a robust growth, driven by the rise in the automotive, manufacturing, and construction industries in the region. The U.S. is a major contributor to the market in terms of revenue, owing to the presence of a large number of automotive, manufacturing, and construction companies in the country. Additionally, technological advancements and the growing importance of safety in industrial and manufacturing operations is expected to drive the demand for industrial brakes in the U.S.
Mexico is also expected to experience significant growth in the market, on account of the rising number of investments in the automotive, manufacturing, and construction industries. Additionally, the increasing demand for safety standards is expected to fuel the demand for industrial brakes in Mexico.
Competitive Outlook
Akebono Brake Corporation
Altra Industrial Motion Corp.
Carlisle Brake & Friction
Chassis Brakes International
Drive-Line Inc.
Eaton Corporation
Industrial Brakes Company
Mach III Clutch, Inc.
Ogura Industrial Corp
The Carlyle Johnson Machine Company, LLC
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Conclusion
In conclusion, the North America industrial brakes market is expected to experience significant growth in the coming years, driven by the increasing demand from various industries including automotive, manufacturing, and construction. Technological advancements and the growing importance of safety in industrial and manufacturing operations are expected to further drive the demand for industrial brakes in North America.
David Correa
Allied Analytics LLP
+15038946022 ext.
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