NEW
YORK, July 10, 2024 /PRNewswire/ -- The
global industrial clutches and brakes market size is
estimated to grow by USD 268.5
million from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of about 3.2% during the
forecast period. The global industrial clutches and brakes
market is witnessing growth driven by increasing demand for higher
capacity conveyor drives and a trend towards miniaturization of
products. The adoption of new and innovative products, such as
advanced electromagnetic clutches and brakes with enhanced
efficiency and reliability, is expected to further propel market
expansion. However, challenges like the rising manufacturing costs
of neodymium magnets may constrain growth. Key players like Altra
Industrial Motion Corp., Eaton Corp. Plc, and Nidec Corp. are
focusing on innovation to capitalize on these trends and maintain
competitive advantage in the market.
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Industrial Clutches
and Brakes Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
3.2%
|
Market growth
2024-2028
|
USD 268.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
3.06
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
42%
|
Key
countries
|
US, China, Germany,
Canada, and UK
|
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 Driver
The Industrial Clutches and Brakes market is experiencing growth
due to the increasing demand for automation and smaller electric
motors, particularly servomotors. During power outages,
servomotors' axles can shift position, making clutches and brakes
essential for maintaining axle placement through springs or
permanent magnets. Small clutches and brakes are necessary to fit
into the compact systems of servomotors, and advanced frictional
materials and computer-designs have enabled miniaturization. The
expanding applications in industries like printing, conveyor belts,
solar tracking, and metal cutting require small servomotors with
precise torque control, leading to increased usage of mechanical
clutches and brakes. Overall, these factors are driving the growth
of the Industrial Clutches and Brakes market.
The Industrial Clutches and Brakes market is experiencing
significant growth due to increasing demand in sectors like
conveyors, cranes, hoists, motors, and engines for proper
performance. Key industries driving this trend include oil and gas,
mining, lumber, coal handling, steel, power generation, and
infrastructure projects. Boston Gear's Tsubaki BRHT backstopping
clutches are inventive items for heavy-duty machinery, providing
enhanced material handling capabilities. Cranes, hoists, and yaw
systems in cable cars, ropeways, and elevators also require
clutches and brakes for smooth operation. OEMs in automation and
smart manufacturing are investing in MRO services to ensure the
proper functioning of these systems. Infrastructure investment in
commercial and residential construction projects further fuels the
demand. Demand analysis statistics report a positive outlook for
this market, with a focus on OEMs and infrastructure
projects.
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Market Challenges
• Neodymium
magnets, known for their resistance to demagnetization and high
saturation magnetization, are extensively used in safety brakes for
emergency stops. The demand for neodymium, a rare-earth metal, has
experienced unexpected growth due to its increasing applications in
wind energy plants. China, with
significant investments in wind energy, has seen a surge in
neodymium demand, leading to a supply shortage and a price hike for
magnets by the end of 2021. Japanese companies, such as Hitachi
Metals, hold most neodymium magnet manufacturing patents, requiring
Chinese manufacturers to pay licensing fees, thereby increasing the
cost of these magnets. These factors are expected to fuel the
growth of the industrial clutches and brakes market during the
forecast period.
• The Industrial
Clutches and Brakes market is experiencing significant growth due
to the ongoing industrialization and infrastructure investment. The
demand for heavy-duty machinery in construction projects,
commercial and residential sectors, and infrastructure projects is
driving the market. MRO services and the manufacturing industry are
also major consumers of clutches and brakes. According to
statistics reports, the market is expected to grow at a rapid pace
due to advancements in technology such as big data analytics,
artificial intelligence, 3D printing, and the Internet of Things.
The market includes various types of clutches and brakes like
Backstopping clutches, Cam Clutches, and industrial gearboxes used
in inclined conveyors, bucket elevators, pumps, winches, and
turbines. The market consists of two major segments: Hydraulic and
Mechanical. Hydraulic brakes are widely used due to their
sophistication and cutting-edge braking systems. The metallurgy
segment, which includes iron ore, copper, gold, and aluminum, is a
significant consumer of industrial clutches and brakes. However,
the market faces challenges such as national prohibitions on
certain types of clutches and brakes, proper performance
monitoring, and heat dissipation. Manufacturers are focusing on
enhancing material quality, compact size, ease of repair, and
sophisticated braking systems like electromagnetic and hydraulic
systems to overcome these challenges.
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challenges - Request a sample report!
Segment Overview
This industrial clutches and brakes market report extensively
covers market segmentation by
- Product
- 1.1 Mechanical friction clutches and brakes
- 1.2 Electromagnetic clutches and brakes
- 1.3 Over-running and heavy-duty clutches and brakes
- 1.4 Others
- End-user
- 2.1 Oil and gas industry
- 2.2 Mining industry
- 2.3 Power industry
- 2.4 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Mechanical friction clutches and brakes- The
industrial clutches and brakes market primarily consists of
mechanical friction clutches and brakes, which are extensively used
in various industries such as oil and gas, mining, and food and
beverage. In the oil and gas industry, these clutches and brakes
are employed in draw works, drilling and service rigs, mud pumps,
and platforms. However, due to the low crude oil prices over the
past few years, the industry has witnessed a decline in projects,
leading to minimal revenue growth for the frictional clutches and
brakes market. The mining industry has also experienced a downturn,
with depletion of mineral resources and low crude oil prices being
the primary reasons. Consequently, the demand for mechanical
friction clutches and brakes has decreased, as they have been
replaced by electromagnetic and over-running clutches and brakes in
heavy-duty applications. In contrast, the food and beverage
industry has shown promising growth, with increasing investment in
the sector leading to the need for conveyor systems for food
handling and packaging applications. This, in turn, will boost the
demand for clutches and brakes. The market is expected to remain
competitive due to the advancement of frictional surfaces with
innovative technologies and the relatively low manufacturing cost
of frictional clutches and brakes. In conclusion, while the oil and
gas and mining industries are expected to have a minimal impact on
the growth of the frictional clutches and brakes market, the food
and beverage industry is anticipated to contribute positively to
the market's growth during the forecast period.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Industrial Clutches and Brakes Market is witnessing
significant growth due to the increasing demand for heavy-duty
machinery in various sectors. According to the Statistics Report,
the market is expected to grow at a CAGR of over 4% during the
forecast period. Industrialization and infrastructure investment
are major drivers for the market, with a focus on infrastructure
projects and construction projects driving the demand for clutches
and brakes in construction equipment, cranes, hoists, motors,
engines, and turbines. In the MRO (Maintenance, Repair, and
Overhaul) sector, there is a growing demand for inventive items
like backstopping clutches, enhanced material, and automation
solutions. The market caters to various industries such as power
generation, oil and gas, mining, transportation, and manufacturing.
Applications include rotor clutches for turbines, yaw systems for
wind turbines, and clutches for cable cars, ropeways, elevators,
stacker reclaimers, and OEM (Original Equipment Manufacturers)
requirements.
Market Research Overview
The Industrial Clutches and Brakes Market is witnessing
significant growth due to the increasing demand for heavy-duty
machinery in various industries. The market statistics report
reveals that the market is driven by infrastructure projects,
commercial and residential construction, and MRO services. The
infrastructure investment in sectors like transportation, energy,
and water treatment is boosting the market growth. Industrial
gearboxes, inclined conveyors, bucket elevators, pumps, winches,
and other heavy machinery require proper performance, which is
driving the demand for inventive clutches and brakes. Rapid
advancements in technology are also impacting the market
positively. Big data analytics, artificial intelligence, 3D
printing, and the Internet of Things are being integrated into
clutches and brakes for enhanced performance and monitoring.
However, national prohibitions on certain materials and components
may hamper the market growth. The market includes various types of
clutches and brakes like backstopping clutches, electromagnetic
systems, hydraulic systems, and mechanical brakes. The metallurgy
segment is a significant consumer of clutches and brakes due to the
extensive use in industries like iron ore, copper, gold, aluminum,
and steel. Sophisticated and cutting-edge braking systems are being
used in turbines, conveyors, cranes, hoists, motors, engines,
rotor, yaw systems, cable cars, ropeways, elevators, stacker
reclaimers, and OEM automation. Boston Gear is one of the key
players in the market, offering a wide range of industrial clutches
and brakes.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- 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
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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market opportunities and develop effective strategies to optimize
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Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
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Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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