Asia Pacific Industrial Brakes Market
Market Introduction
Persistent developments in the industrial sector in Asia Pacific countries adds to their economic prosperity. This change has resulted in rising affluence, urbanization, and population expansion. Furthermore, Asia Pacific makes for a substantial portion of the global energy consumption, with the industrial sector accounting for the majority of the regional energy consumption. The region comprises 58 economies and is home to over 60% of the world's population. As per ADB Annual Report 2018, its share in the global purchasing power parity gross domestic product (GDP PPP) increased from 30.1% in 2000 to 42.6% in 2017, and three nations—China, Japan, and India—accounted for more than 70% of the region's total production in 2017. In 2014, total energy consumption of Asia Pacific increased at double the pace of the world; it consumes more than 50% of the total energy supply of the world and accounts for ~55% of global fuel emiss. Developments in industrial braking technology is the major factor driving the growth of the APAC industrial brakes market.
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.
Strategic insights for the Asia Pacific Industrial Brakes provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Asia Pacific Industrial Brakes refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Report Attribute
Details
Market size in 2021
US$ 446.29 Million
Market Size by 2028
US$ 749.39 Million
Global CAGR (2021 - 2028)
7.7%
Historical Data
2019-2020
Forecast period
2022-2028
Segments Covered
By Type
By Application
By Industry Vertical
Regions and Countries Covered
Asia-Pacific
Market leaders and key company profiles
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Market Overview and Dynamics
The industrial brakes market in APAC is expected to grow from US$ 446.29 million in 2021 to US$ 749.39 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2021 to 2028. Since the beginning of the Industrial Revolution, technological advancements have led to tremendous surge in industrial production capacities; as a result, manufacturing is on the rise across the region. According to PricewaterhouseCoopers (PwC), growing economies, labor quality, tax policies, regulatory environments, and transportation and energy prices are the factors that have catalyzed the comeback of this sector. As a result of the expanding manufacturing sector, the dependent markets, including mechanical equipment providers, are also flourishing. With the emergence of new categories of consumers in the region, manufacturers across the region are likely to have significant new prospects; further, innovations generate new demands, thus propelling the use of modern equipment and systems in manufacturing units. Brakes facilitate desired motion across various industries by offering the necessary velocity, acceleration, and deceleration to the industrial equipment. They also aid in the holding and lifting of big payloads in manufacturing plant operations. The industrial brakes business benefits from increased activity in the construction, metals and mining, and manufacturing industries. Service brakes, emergency brakes, thruster brakes, and electromagnetic brakes, among others, are in high demand in the steel industry. Industrial brake manufacturers are increasing the output capacity of electromagnetic and hydraulic brakes used in nuclear power plants. In the construction industry, disc and drum brakes are preferred. The availability of technology-driven solutions in automated brakes is further expected to propel the industrial brakes market growth.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on industrial brakes market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 others.
Reasons to buy report
APAC Industrial Brakes Market Segmentation
APAC Industrial Brakes Market –By
Type
APAC Industrial Brakes Market –By Application
APAC Industrial Brakes Market –By Industry Vertical
APAC Industrial Brakes Market -By Country
APAC Industrial Brakes Market -
Company Profiles
The Asia Pacific Industrial Brakes Market is valued at US$ 446.29 Million in 2021, it is projected to reach US$ 749.39 Million by 2028.
As per our report Asia Pacific Industrial Brakes Market, the market size is valued at US$ 446.29 Million in 2021, projecting it to reach US$ 749.39 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The Asia Pacific Industrial Brakes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Industrial Brakes Market report:
The Asia Pacific Industrial Brakes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Industrial Brakes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Industrial Brakes Market value chain can benefit from the information contained in a comprehensive market report.
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