Global Industrial Brakes market will reach 2.59 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/5

The transition of manufacturing sector towards smart manufacturing and automation, improved by growing investments in industrial automation equipment are the major factors that are responsible for the growth of the global industrial brakes market. Industries around the world are mainly influenced by regulations and standards that demand equipment performance and proper safety measures for men and materials. These regulations have compelled manufacturers to focus on the research and development activities, which is expected to propel the market growth.

In addition, the end-use industries such as steel, oil & gas, mining, coal handling, and power generation are foreseen to create lucrative growth opportunities in the global market for industrial brakes. Moreover, increasing adoption of new and innovative products such as advanced material brake shoe and rotors, and backstopping clutches are augmented the market.

QY Research report states that the global industrial brakes market is anticipated to touch the valuation at US$2.59 bn by 2025, with a registering CAGR of 3.6% throughout the forecast period.

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https://www.qyresearch.com/index/detail/1087511/global-industrial-brakes-market
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