Industrial Clutches And Brakes Market Size to grow by USD 268.5 million between 2024-2028
According to a research report “ Industrial Clutches And Brakes Market” by Product (Mechanical friction clutches and brakes, Electromagnetic clutches and brakes, Over-running and heavy-duty clutches and brakes, Others) End-user (Oil and gas industry, Mining industry, Power industry, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 268.5 million, at a CAGR of about 3.2% during the forecast period. In the realm of industrial automation, conveyor drive systems play a pivotal role in transporting goods from one point to another in manufacturing processes. The functionality of these systems relies on the effective control of speed through the implementation of suitable gear, clutch, and brake systems. Among these components, the backstop clutch is a commonly utilized clutch type in conveyor drive applications. The escalating demand for consumer goods, particularly within the food and beverage sector, has necessitated the expansion of production processes, leading to a surge in the need for high-capacity conveyor drives. These advanced systems necessitate larger backstops to manage the motion of conveyors efficiently. Consequently, clutch manufacturers have responded by producing high-rated backstops to cater to this growing market requirement.
Browse market data tables, figures, and in-depth TOC on “Industrial Clutches And Brakes Market” by Product (Mechanical friction clutches and brakes, Electromagnetic clutches and brakes, Over-running and heavy-duty clutches and brakes, Others) End-user (Oil and gas industry, Mining industry, Power industry, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product, the Mechanical friction clutches and brakes segment is projected to dominate the market size in 2024
In the oil and gas sector, drilling and mud pump applications are key processes that necessitate the utilization of clutches and brakes. The oil industry experienced a significant disruption in 2022 with a decline in crude oil prices, leading to an imbalance in the industry and reduced profit margins for producers. Consequently, many oil and gas companies had to downsize their operations to manage low-cost production. This resulted in a decrease in machinery operations and minimal investments during the period of 2020-2021. Notwithstanding the recent instability, the oil and gas industry continues to represent a substantial end-user segment in the global industrial clutches and brakes market.
By End-user, Oil and gas industry segment is expected to hold the largest market size for the year 2024
In the industrial sector, mechanical friction clutches and brakes play a pivotal role in various applications, particularly in the oil and gas, mining, and food and beverage industries. In the oil and gas industry, these clutches and brakes are indispensable for draw works, drilling and service rigs, mooring and positioning, and mud pumps and platforms. However, the industry has experienced a downturn in recent years due to the low crude oil prices, resulting in limited project securions. This trend is projected to continue until the market stabilizes, potentially hindering any revenue growth for the frictional clutches and brakes market in the oil and gas sector.
North America is forecasted to hold the largest market size by region in 2024
The Industrial Clutches and Brakes Market represents a significant segment in the industrial machinery sector. These essential components ensure optimal equipment performance and safety by controlling power transmission. Market growth is driven by increasing industrialization, rising demand for automation, and stringent safety regulations. Key players focus on product innovation, strategic collaborations, and expanding their global footprint to cater to this dynamic market.
The Industrial Clutches And Brakes Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
Title: Industrial Clutches and Brakes Market: Automation and Heavy-Duty Applications in Construction and Infrastructure The Industrial Clutches and Brakes Market is witnessing significant growth due to automation in various industries, including construction and infrastructure. OEMs in sectors like stacker reclaimers, elevators, ropeways, cable cars, yaw systems, rotor engines, motors, hoists, cranes, conveyors, turbines, and more, are increasingly integrating advanced clutches and brakes for improved performance and efficiency. Tsubaki BRHT, with its enhanced material technology, is a notable player in this market. Backstopping clutches are inventive items that ensure proper performance of heavy-duty machinery in applications like infrastructure projects, commercial and residential construction, and MRO services. The demand for clutches and brakes is driven by infrastructure investment, industrialization, and the need for reliable, high-performance components in heavy machinery. Statistics reports suggest that the market for industrial clutches and brakes will continue to grow, with a focus on applications in automation, heavy machinery, and infrastructure development. Key applications include automotive, oil and gas, mining, power generation, and manufacturing industries. Overall, the market is expected to experience steady growth due to the increasing demand for automation and the need for reliable, high-performance components in various industries.
Market Research Overview
Title: Industrial Clutches and Brakes Market: Trends, Growth, and Opportunities in Power Generation, Mining, and Manufacturing Industries The Industrial Clutches and Brakes Market is witnessing significant growth due to the increasing demand in power generation, mining, and manufacturing industries. Key players like Boston Gear are leading the market with their innovative products, including clutches and brakes for coal handling, lumber processing, steel production, and oil and gas industries. In power generation, industrial clutches and brakes are essential components in steam turbines, engines, motors, hoists, cranes, and conveyors. The market is segmented into mechanical brakes, hydraulic brakes, and electric brakes. Hydraulic and electric brakes are gaining popularity due to their sophisticated braking systems and ease of repair. The mining industry requires heavy-duty clutches and brakes for stacker reclaimers, elevators, ropeways, cable cars, yaw systems, and rotor engines. The metallurgy segment, including aluminum, gold, copper, and iron ore, also demands advanced clutches and brakes for proper performance. Smart manufacturing, automation, and MRO services are driving the market with the integration of the Internet of Things, 3D printing, artificial intelligence, and big data analytics. Rapid advancements in cutting-edge braking systems, such as Tsubaki BRHT backstopping clutches, are enhancing the market's growth. National prohibitions and regulations are influencing the market's dynamics. The market's future looks promising with the increasing infrastructure investment in commercial and residential construction projects and infrastructure projects. Key components, including winches, pumps, bucket elevators, and inclined conveyors, require industrial gearboxes and cam clutches for optimal performance. Overall, the market's growth is driven by the increasing demand for industrialization and the need for efficient and reliable clutches and brakes. According to the latest Statistics Report and Demand Analysis, the market is expected to grow at a CAGR of 5.2% from 2021 to 2026.
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