Industrial Brakes and Clutches Market Segmentation:
Technology
Industrial brakes and clutches market for the hydraulic segment is expected to hold the largest revenue share of 37% during the forecast period. Advantages such as better heat dissipation than mechanical brakes, better braking power transmission, compact size, and ease of repair due to the ream, daily available brake parts in the aftermarket are propelling the growth of the segment. Hydraulics are simple to operate at the touch of a button since they rely on the continuous circulation of fluid rather than a rising and falling motion. A hydraulic piston's speed and range are easily adjustable by users. Furthermore, hydraulic systems find extensive usage in heavy gear, construction equipment, and industrial manufacturing operations. Their increasing popularity can be attributed to their adaptability and versatility.
End-use
Mining & metallurgy segment in industrial brakes and clutches market is expected to hold a share of 32% by the end of 2035. The demand for minerals such as iron ore, copper, gold, and aluminium is expected to rise in the coming years. This increases the demand for dependable and efficient mining and metallurgical processes, which call for strong clutching and braking systems to manage large machinery and equipment. Additionally, mining activities are extending to new locations and areas due to the increased demand for metals and minerals. As per a report, the global economy depends heavily on the mining industry. In 2022, the aggregate revenue of the top 40 mining corporations worldwide, which account for the great majority of the industry, reached a record 943 billion US dollars. For the mining equipment to remain safe and productive during this expansion, sophisticated braking and clutching systems must be implemented. Additionally, the efficiency and performance of industrial brakes and clutches have increased with the addition of cutting-edge braking and clutching technologies like electromagnetic and hydraulic systems.
Our in-depth analysis of the global industrial brakes and clutches market includes the following segments:
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