Industrial Clutches and Brakes Market size is set to grow by USD 268.5 million from 2024-2028, Increasing demand for higher capacity conveyor drives boost the market, Technavio

NEW YORK, July 10, 2024 /PRNewswire/ -- The global industrial clutches and brakes market size is estimated to grow by USD 268.5 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.2%  during the forecast period. The global industrial clutches and brakes market is witnessing growth driven by increasing demand for higher capacity conveyor drives and a trend towards miniaturization of products. The adoption of new and innovative products, such as advanced electromagnetic clutches and brakes with enhanced efficiency and reliability, is expected to further propel market expansion. However, challenges like the rising manufacturing costs of neodymium magnets may constrain growth. Key players like Altra Industrial Motion Corp., Eaton Corp. Plc, and Nidec Corp. are focusing on innovation to capitalize on these trends and maintain competitive advantage in the market.

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Market Driver

The Industrial Clutches and Brakes market is experiencing growth due to the increasing demand for automation and smaller electric motors, particularly servomotors. During power outages, servomotors' axles can shift position, making clutches and brakes essential for maintaining axle placement through springs or permanent magnets. Small clutches and brakes are necessary to fit into the compact systems of servomotors, and advanced frictional materials and computer-designs have enabled miniaturization. The expanding applications in industries like printing, conveyor belts, solar tracking, and metal cutting require small servomotors with precise torque control, leading to increased usage of mechanical clutches and brakes. Overall, these factors are driving the growth of the Industrial Clutches and Brakes market. 

The Industrial Clutches and Brakes market is experiencing significant growth due to increasing demand in sectors like conveyors, cranes, hoists, motors, and engines for proper performance. Key industries driving this trend include oil and gas, mining, lumber, coal handling, steel, power generation, and infrastructure projects. Boston Gear's Tsubaki BRHT backstopping clutches are inventive items for heavy-duty machinery, providing enhanced material handling capabilities. Cranes, hoists, and yaw systems in cable cars, ropeways, and elevators also require clutches and brakes for smooth operation. OEMs in automation and smart manufacturing are investing in MRO services to ensure the proper functioning of these systems. Infrastructure investment in commercial and residential construction projects further fuels the demand. Demand analysis statistics report a positive outlook for this market, with a focus on OEMs and infrastructure projects. 

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Market Challenges

•         Neodymium magnets, known for their resistance to demagnetization and high saturation magnetization, are extensively used in safety brakes for emergency stops. The demand for neodymium, a rare-earth metal, has experienced unexpected growth due to its increasing applications in wind energy plants. China, with significant investments in wind energy, has seen a surge in neodymium demand, leading to a supply shortage and a price hike for magnets by the end of 2021. Japanese companies, such as Hitachi Metals, hold most neodymium magnet manufacturing patents, requiring Chinese manufacturers to pay licensing fees, thereby increasing the cost of these magnets. These factors are expected to fuel the growth of the industrial clutches and brakes market during the forecast period.

•         The Industrial Clutches and Brakes market is experiencing significant growth due to the ongoing industrialization and infrastructure investment. The demand for heavy-duty machinery in construction projects, commercial and residential sectors, and infrastructure projects is driving the market. MRO services and the manufacturing industry are also major consumers of clutches and brakes. According to statistics reports, the market is expected to grow at a rapid pace due to advancements in technology such as big data analytics, artificial intelligence, 3D printing, and the Internet of Things. The market includes various types of clutches and brakes like Backstopping clutches, Cam Clutches, and industrial gearboxes used in inclined conveyors, bucket elevators, pumps, winches, and turbines. The market consists of two major segments: Hydraulic and Mechanical. Hydraulic brakes are widely used due to their sophistication and cutting-edge braking systems. The metallurgy segment, which includes iron ore, copper, gold, and aluminum, is a significant consumer of industrial clutches and brakes. However, the market faces challenges such as national prohibitions on certain types of clutches and brakes, proper performance monitoring, and heat dissipation. Manufacturers are focusing on enhancing material quality, compact size, ease of repair, and sophisticated braking systems like electromagnetic and hydraulic systems to overcome these challenges.

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Segment Overview 

This industrial clutches and brakes market report extensively covers market segmentation by  

1. Product 
• 1.1 Mechanical friction clutches and brakes
• 1.2 Electromagnetic clutches and brakes
• 1.3 Over-running and heavy-duty clutches and brakes
• 1.4 Others
2. End-user 
• 2.1 Oil and gas industry
• 2.2 Mining industry
• 2.3 Power industry
• 2.4 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Mechanical friction clutches and brakes-  The industrial clutches and brakes market primarily consists of mechanical friction clutches and brakes, which are extensively used in various industries such as oil and gas, mining, and food and beverage. In the oil and gas industry, these clutches and brakes are employed in draw works, drilling and service rigs, mud pumps, and platforms. However, due to the low crude oil prices over the past few years, the industry has witnessed a decline in projects, leading to minimal revenue growth for the frictional clutches and brakes market. The mining industry has also experienced a downturn, with depletion of mineral resources and low crude oil prices being the primary reasons. Consequently, the demand for mechanical friction clutches and brakes has decreased, as they have been replaced by electromagnetic and over-running clutches and brakes in heavy-duty applications. In contrast, the food and beverage industry has shown promising growth, with increasing investment in the sector leading to the need for conveyor systems for food handling and packaging applications. This, in turn, will boost the demand for clutches and brakes. The market is expected to remain competitive due to the advancement of frictional surfaces with innovative technologies and the relatively low manufacturing cost of frictional clutches and brakes. In conclusion, while the oil and gas and mining industries are expected to have a minimal impact on the growth of the frictional clutches and brakes market, the food and beverage industry is anticipated to contribute positively to the market's growth during the forecast period.

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Research Analysis

The Industrial Clutches and Brakes Market is witnessing significant growth due to the increasing demand for heavy-duty machinery in various sectors. According to the Statistics Report, the market is expected to grow at a CAGR of over 4% during the forecast period. Industrialization and infrastructure investment are major drivers for the market, with a focus on infrastructure projects and construction projects driving the demand for clutches and brakes in construction equipment, cranes, hoists, motors, engines, and turbines. In the MRO (Maintenance, Repair, and Overhaul) sector, there is a growing demand for inventive items like backstopping clutches, enhanced material, and automation solutions. The market caters to various industries such as power generation, oil and gas, mining, transportation, and manufacturing. Applications include rotor clutches for turbines, yaw systems for wind turbines, and clutches for cable cars, ropeways, elevators, stacker reclaimers, and OEM (Original Equipment Manufacturers) requirements.

The Industrial Clutches and Brakes Market is witnessing significant growth due to the increasing demand for heavy-duty machinery in various industries. The market statistics report reveals that the market is driven by infrastructure projects, commercial and residential construction, and MRO services. The infrastructure investment in sectors like transportation, energy, and water treatment is boosting the market growth. Industrial gearboxes, inclined conveyors, bucket elevators, pumps, winches, and other heavy machinery require proper performance, which is driving the demand for inventive clutches and brakes. Rapid advancements in technology are also impacting the market positively. Big data analytics, artificial intelligence, 3D printing, and the Internet of Things are being integrated into clutches and brakes for enhanced performance and monitoring. However, national prohibitions on certain materials and components may hamper the market growth. The market includes various types of clutches and brakes like backstopping clutches, electromagnetic systems, hydraulic systems, and mechanical brakes. The metallurgy segment is a significant consumer of clutches and brakes due to the extensive use in industries like iron ore, copper, gold, aluminum, and steel. Sophisticated and cutting-edge braking systems are being used in turbines, conveyors, cranes, hoists, motors, engines, rotor, yaw systems, cable cars, ropeways, elevators, stacker reclaimers, and OEM automation. Boston Gear is one of the key players in the market, offering a wide range of industrial clutches and brakes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• Mechanical Friction Clutches And Brakes
• Electromagnetic Clutches And Brakes
• Over-running And Heavy-duty Clutches And Brakes
• Others
• End-user
• Oil And Gas Industry
• Mining Industry
• Power Industry
• Others
• Geography
• North America
• Europe
• APAC
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio