Report : Middle East and Africa Industrial Brakes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Mechanically Applied Brakes, Hydraulically Applied Brakes, Pneumatically Applied Brakes, Electrically Applied Brakes, and Others), Application (Holding Brakes, Dynamic and Emergency Brakes, and Tension Brakes), and Industry Vertical (Manufacturing, Metal and Mining, Construction, Power Generation, Marine and Shipping, and Others)
Manufacturing Segment to Dominate MEA Industrial Brakes Market during 2021–2028
According to a new market research study on “MEA Industrial Brakes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and Industry Vertical” is expected to reach US$ 172.59 million by 2028 from US$ 138.23 million in 2021. The market is estimated to grow at a CAGR of 3.2% from 2021 to 2028. The report provides trends prevailing in the MEA industrial brakes market along with the drivers and restraints pertaining to the market growth. Smart industrial brakes is the major factor driving the growth of the MEA industrial brakes market. However, issues associated with the concern regarding raw materials used in brake manufacturing hinder the growth of MEA industrial brakes market.
The MEA industrial brakes market is segmented into type, application, industry vertical, and country. Based on type, the industrial brakes market is segmented into mechanically applied brakes, hydraulically applied brakes, pneumatically applied brakes, electrically applied brakes, and others. The hydraulically applied brakes segment dominated the market in 2020 and electrically applied brakes segment is expected to be the fastest growing during the forecast period. Based on application, industrial brakes market is sub segmented into holding brakes, dynamic and emergency brakes, and tension brakes. The holding brakes segment dominated the market in 2020 and dynamic and emergency brakes segment is expected to be the fastest growing during the forecast period. Based on industry vertical, the industrial brakes market is categorized into manufacturing, metal and mining, construction, power generation, marine and shipping, and others. The manufacturing segment dominated the market in 2020 and others segment is expected to be the fastest growing during the forecast period. Based on country, the industrial brakes market is classified into Saudi Arabia, UAE, South Africa and Rest of MEA.
Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait are the main countries facing the economic effects of COVID-19 in the Middle East and African region. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The rising volatility of the region's power sector, as well as changing market dynamics, would have an undesirable effect on the industrial brakes market in the region. However, since the prominent oil and petrochemical industries in this region are reopening and process recorders play a significant role in efficient production and business optimization, the demand for industrial brakes is expected to regain momentum in this region.
Altra Industrial Motion Corp.; AMETEK Inc.; DELLNER BUBENZER; Eaton Corporation plc; Jiangxi Huawu Brake Co., Ltd.; KTR Systems GmbH; RINGSPANN GmbH; and SIBRE Siegerland Bremsen GmbH are among the leading companies in the MEA industrial brakes market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, DELLNER BUBENZER Group has acquired Hydratech Industries, a Danish global producer of high-end hydraulic systems, cylinders, and accumulators for wind, offshore, marine, and industrial applications, In the future, the firm will be known as DELLNER HYDRATECH Group.
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