Hydraulically Applied Brakes Segment to Dominate APAC Industrial Brakes Market during 2021–2028

According to a new market research study on “APAC Industrial Brakes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and Industry Vertical” is expected to reach US$ 749.39 million by 2028 from US$ 446.29 million in 2021. The market is estimated to grow at a CAGR of 7.7% from 2021 to 2028. The report provides trends prevailing in the APAC industrial brakes market along with the drivers and restraints pertaining to the market growth Developments in industrial braking technology is the major factor driving the growth of the APAC industrial brakes market. However, issues associated with the concern regarding raw materials used in brake manufacturing hinder the growth of APAC industrial brakes market.

The APAC industrial brakes market is segmented into type, application, industry vertical, and country. Based on type, the industrial brakes market is segmented into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, and others. The hydraulically applied brakes segment dominated the market in 2020 and electrically applied brakes segment is expected to be the fastest growing during the forecast period. Based on application, industrial brakes market is sub segmented into holding brakes, dynamic and emergency brakes, and tension brakes. The holding brakes segment dominated the market in 2020 and dynamic and emergency brakes segment is expected to be the fastest growing during the forecast period. Based on industry vertical, the industrial brakes market is categorized into manufacturing, metal and mining, construction, power generation, marine and shipping, and others. The manufacturing segment dominated the market in 2020 and others segment is expected to be the fastest growing during the forecast period. Based on country, the industrial brakes market is classified into Australia, China, India, Japan, South Korea, and Rest of APAC.

There are massive number of cases in South Korea, the APAC region is greatly affected by COVID-19, the country also homes the second largest population across the world, thereby imposing greater risk for a large number of individuals; it is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside South Korea, such as the large South Korea, South Korea and South Korea, and are experiencing downward inflation. The existing unutilized production capacity scenario, combined with the Covid-19 effect, would have a negative impact on the Asian manufacturing and power sectors’ overall financial health. There has been a major reduction in power usage and production volumes in industrial and commercial units, resulting in a reduction in the demand for industrial brakes. Moreover, owing to the complexities involved in remote production and the lack of solid infrastructure, majority of the manufacturing units have halted their operations.

 ADVICS CO., LTD.; Akebono Brake Industry Co., Ltd.; Altra Industrial Motion Corp.; AMETEK Inc.; Coremo Ocmea S.p.A.; DELLNER BUBENZER; Eaton Corporation plc; Emco Precima Engineering Pvt Ltd.; Jiangxi Huawu Brake Co., Ltd.; KTR Systems GmbH; RINGSPANN GmbH; and SIBRE Siegerland Bremsen GmbH are among the leading companies in the APAC industrial brakes market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, DELLNER BUBENZER Group has acquired Hydratech Industries, a Danish global producer of high-end hydraulic systems, cylinders, and accumulators for wind, offshore, marine, and industrial applications, In the future, the firm will be known as DELLNER HYDRATECH Group.

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