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Industrial Brakes Market Porter Analysis Identifies Competitive Forces Within The Market

From $930.3 million in 2018, the industrial brakes market is expected to grow to $1,105.7 million by 2024, witnessing a 3.0% CAGR during the forecast period (2019u20132024). The market is witnessing growth due to the increasing mining activities in developing economies and expansion of the manufacturing and construction sectors. A device that provides friction to a rotating body or holds a component in place without motion is termed as a brake. Industrial brakes are used in cranes, wind turbines, packaging and construction machines, and marine & shipping and metal & mining activities.

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Industrial Brakes Market Porter Analysis Identifies Competitive Forces Within The Market

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  1. Industrial Brakes Market Industrial Brakes Market Dental Adhesives and Sealants Market Analysis with Key Players, Applications, Trends and Forecasts by 2024 frf

  2. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast In recent years, developing economies, such as India, China, and several in Africa, have been experiencing significant growth and are anticipated to do so during the forecast period as well. The surging demand for manufacturing and construction equipment is predicted to accelerate the use of industrial brakes, thereby thriving theindustrial brakes market. Furthermore, with rapid industrialization, urbanization, and electrification in developing countries, the construction and manufacturing industries are projected to grow significantly during the forecast period. Market Segmentation by Industry Manufacturing •Mechanically applied brakes •Hydraulically applied brakes 2 © P&S Intelligence. All rights reserved

  3. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast •Pneumatically applied brakes •Electrically applied brakes •Others Metal & Mining •Mechanically applied brakes •Hydraulically applied brakes •Pneumatically applied brakes •Electrically applied brakes •Others Construction •Mechanically applied brakes •Hydraulically applied brakes •Pneumatically applied brakes •Electrically applied brakes •Others 3 © P&S Intelligence. All rights reserved

  4. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast Marine & Shipping •Mechanically applied brakes •Hydraulically applied brakes •Pneumatically applied brakes •Electrically applied brakes •Others Power Generation •Mechanically applied brakes •Hydraulically applied brakes •Pneumatically applied brakes •Electrically applied brakes •Others •Others (Military, Aerospace, Printing, Entertainment, Oil & Gas, and Transportation) Based on type, the industrial brakes market is broadly classified into drum and disc brakes, spring brakes and mechanically, hydraulically, electrically, and pneumatically-applied brakes. Out of these, in 2017, electrically applied brakes led the market with a revenue contribution of more than 30.0%, and these are 4 © P&S Intelligence. All rights reserved

  5. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast predicted to maintain their lead during the forecast period. This is ascribed to the fact that these brakes offer better performance and reliability over other types. Besides, these can be used for precision and accurate braking in automated packaging machines and industrial robotics. Market Dynamics 4.3.1 Trends 4.3.1.1 Growing application of automation in manufacturing sector 5 © P&S Intelligence. All rights reserved

  6. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast 4.3.2 Drivers 4.3.2.1 Increase in construction & manufacturing activities 4.3.2.2 Rapid growth of mining in growing economies 4.3.3 Restraints 4.3.3.1 Price volatility of raw materials used for production of industrial brakes 4.3.3.2 Impact analysis of restraints on market forecast 4.3.4 Opportunities 4.3.4.1 Emergence of Industrial Internet of Things (IIoT) Investments are being continuously made in the manufacturing niche for improving the production efficiency through automation. The increasing rate of industrial automation is boosting the adoption of automated equipment and machines. For instance, as per the National Association of Manufacturers, in 2016, the total contribution made by the manufacturers to the U.S. economy, as a result of automation stood at $2.18 trillion. Talking of investments, according to an India Brand Equity Foundation report, in 2016 during April–November, the manufacturing niche observed a foreign direct investment worth $16.13 billion. 6 © P&S Intelligence. All rights reserved

  7. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast About P&S Intelligence P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. Contact: P&S Intelligence Toll-free: +1-888-778-7886 (USA/Canada) International: +1-347-960-6455 Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com 7 © P&S Intelligence. All rights reserved

  8. Industrial Brakes Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast Disclaimer: P&S Intelligence always keeps customers interest at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations as they are based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided to us by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinion based on research and should not be interpreted as statements of fact. The information in this report were believed to be correct at the time of publication but cannot be guaranteed. P&S Intelligence does not endorse any product, service or vendor depicted in its research publications. All intellectual property, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance may these be reproduced in any form without the prior written agreement of its owner. An order for market research report is intended for internal use of the company alone and not for disclosure to third parties or any publication in general. No service, report or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including and not limited to, all forms of optical-based media, magnetic, electronic, or digital without a written permission from P&S Intelligence. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 8 © P&S Intelligence. All rights reserved

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