South America Industrial Brakes Market Trends and Analysis by 2028

The industrial brakes market in SAM is expected to grow from US$ 67.39 million in 2021 to US$ 78.48 million by 2028; it is estimated to grow at a CAGR of 2.2% from 2021 to 2028.

The 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.

Argentina has the largest number of cases with COVID-19, followed by Ecuador, Chile, Peru, and Argentina amongst others. The covid-19 pandemic has led to the closure of all economic activities across the region, in order to combat the spread of the virus. There are plenty of seawater sources in South America. In this region, desalination plants use seawater to provide freshwater to the city. South America currently has thirty desalination plants distributed throughout Chile, US, Peru, Colombia, and Argentina. Desalination plants in these areas are the key demand drivers for industrial brakes as an efficient means to reach business optimization. Moreover, a large number of Latin American countries are going through significant transformation in infrastructure by implementing various large-scale initiatives in sectors like power and wastewater treatment. As a result, the COVID-19 has a neutral influence on the industrial brakes market in South America.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the industrial brakes market. The SAM industrial brakes is expected to grow at a good CAGR during the forecast period.

SAM Industrial Brakes Market Revenue and Forecast to 2028 (US$ Million)

SAM Industrial Brakes Market Segmentation

SAM Industrial Brakes Market – By Type

• Mechanically Applied Brakes
• Hydraulically Applied Brakes
• Pneumatically Applied Brakes
• Electrically Applied Brakes
• Others

SAM Industrial Brakes Market – By Application

• Holding Brakes
• Dynamic and Emergency Brakes
• Tension Brakes

SAM Industrial Brakes Market – By Industry Vertical

• Manufacturing
• Metal and Mining
• Construction
• Power Generation
• Marine and Shipping
• Others

SAM Industrial Brakes Market- By Country

• Brazil
• Argentina
• Rest of SAM

SAM Industrial Brakes Market-Companies Mentioned

• Altra Industrial Motion Corp.
• AMETEK Inc.
• DELLNER BUBENZER
• Eaton Corporation plc
• Jiangxi Huawu Brake Co., Ltd.
• KTR Systems GmbH
• RINGSPANN GmbH
• SIBRE Siegerland Bremsen GmbH

South America Industrial Brakes Report Scope