LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global industrial clutches and brakes market size is projected to grow to USD 1,573.6 million by 2021, at a CAGR close to 2% over the forecast period.
This research report titled ‘Global Industrial Clutches and Brakes Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
Clutches and brakes are widely used in industrial applications to transmit mechanical power between the driving shaft and driven shaft. The increasing demand for higher capacity conveyor drives in the food and beverage and power sectors is a key driving factor for the market.
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Based on product type, the report categorizes the global industrial clutches and brakes market into the following segments:
- Mechanical friction clutches and brakes
- Electromagnetic clutches and brakes
- Over-running and heavy-duty clutches and brakes
The top three revenue-generating product segments in the global industrial clutches and brakes market are discussed below:
Mechanical friction clutches and brakes
“Mechanical friction clutches and brakes comprises the largest revenue generating segment of the global market, having over 45% of the overall share. These clutches and brakes are most widely used in the oil and gas, mining, and food and beverage industries,” says Bharath Kanniappan, a lead analyst at Technavio for automation research.
The food and beverages industry will post positive growth in the mechanical friction clutches and brakes market over the forecast period, driven by the rising investments witnessed in the sector. The increased the need for conveyor systems for food handling, and packaging applications will drive the demand for clutches and brakes.
Electromagnetic clutches and brakes
Electromagnetic clutches and brakes are mainly used in high-speed industrial applications such as packaging machines, food processing equipment, industrial mixers, and wind turbines. This type of clutches and brakes are witnessing increasing adoption due to their robust construction and reliable actuation system. Electromagnetic clutches can be easily integrated with Internet of Things (IoT), which is suitable for the rising trend of industrial automation. This segment is expected to grow steadily and occupy a larger share of the market by the end of the forecast period.
Over-running and heavy-duty clutches and brakes
“Over-running and heavy-duty clutches are widely used in energy, mining and metals, and marine industries. These clutches can provide superior performance in the harsh environment of the construction sector, driving for their increasing adoption,” says Bharath.
The Marine industry is flourishing due to low crude oil prices and strong demand from the tourism sector, thereby creating a large demand for over-running and heavy-duty clutches and brakes. Additionally, wind energy plants are finding an increasing number of investments, of which a significant portion reaches the over-running clutches and brakes market segment.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Altra Industrial Motion
- GKN Land Systems
- Hilliard Corporation
- Thomson Industries
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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