Industrial Clutches Market Is Expected To Reach USD 2.3 Billion by 2030, Grow at a CAGR Of 3.4% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.
According to a market research study published by Contrive Datum Insights, North America and Europe is expected to hold the largest market share in the global Industrial Clutches market.
Farmington, March 20, 2023 (GLOBE NEWSWIRE) — The Global Industrial Clutches Market size was valued at USD 1.2 Billion in 2020 and is projected to reach USD 2.3 Billion by 2030, growing at a CAGR of 3.4% from 2023 to 2030. A mechanical device called an industrial clutch connects and disconnects two rotating shafts. These help control how power moves from the drive shaft to the driven shaft. Industrial clutches are used in things like overhead travelling cranes, overland conveyors, motors, engines, and other industrial machinery. The speed of the motion can be changed, which can then be used to perform the action or processing that the application needs.
Request Sample Copy of Report “Industrial Clutches Market Size, Share & Trends Estimation Report By Type (Electromagnetic Clutch, Hydraulic Clutch, Pneumatic Clutch, Other), By Application (Automobile Industry, Shipping Industry, Equipment Manufacturing Industry, Other), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.
Market Dynamics:
Drivers:
Many industries are becoming more automated, which means that power transmission systems need to be better.
There is a growing need for power transmission systems that use less energy and are better for the environment. This can lower operational costs.
Smart clutches that can track and improve their own performance are one example of how technology has changed.
More people are working in industries like construction, mining, and farming that use a lot of heavy machinery and equipment and need reliable power transmission systems.
Restraints:
Industrial clutches are expensive and need to be taken care of.
Power can also be sent with electric motors and hydraulic systems, among other things.
When traditional clutch materials like asbestos were used, people worried about the environment.
Opportunities:
In emerging economies where the industrial sector is growing, industrial clutches are becoming more popular.
If new materials and technologies are used to make industrial clutches, they will work better and last longer.
People are buying more electric and hybrid cars, which need good, reliable clutch systems.
Regional Outlook:
The global Industrial Clutches market has been looked at in different parts of the world, including North America, South America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be dominated by the global Industrial Clutches region.
Most clutches used in factories are made in North America and Europe. There are many well-known companies in these areas that make industrial brakes and gears. Also, when these places are compared to the rest of the world, they are expected to be at the forefront of technology.
These places are likely to come up with new, cutting-edge technologies much faster than other places. Asia-Pacific is expected to invest a lot in industrial automation, which will make the area a good market for industrial clutches.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.4% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 2.3 Billion |
| By Type | Electromagnetic Clutch, Hydraulic Clutch, Pneumatic Clutch, Other |
| By Application | Automobile Industry, Shipping Industry, Equipment Manufacturing Industry, Other |
| By Companies | Altra, Eaton, GKN plc, Kendrion, Ogura Clutch, Haldex, Hilliard, Nexen Group, Renold, Tsubakimoto Chain, Thomson Industries, VORTEX, Warner Electric |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Key Segments Covered:
Top Market Players:
Altra, Eaton, GKN plc, Kendrion, Ogura Clutch, Haldex, Hilliard, Nexen Group, Renold, Tsubakimoto Chain, Thomson Industries, VORTEX, Warner Electric, and others.
By Type
- Electromagnetic Clutch
- Hydraulic Clutch
- Pneumatic Clutch
- Others
By Application
- Automobile Industry
- Shipping Industry
- Equipment Manufacturing Industry
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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