Industrial Brakes Market to Reach US$ 1.62 Billion by 2027 | CAGR 4.02%
IMARC Group’s latest research report, titled “ Industrial Brakes Market : Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027 ,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The global industrial brakes market reached a value of US$ 1.26 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1.62 Billion by 2027, exhibiting a CAGR of 4.02% during 2022-2027 . Industrial brakes are the devices designed for stopping or decelerating the moving parts of machines. They rely on friction for holding the rotating parts in their places and converting the kinetic energy to halt the movement. Industrial brakes are equipped with automatic adjustment tools to aid in adjusting the gap between the brakes. Presently, leading players are focusing on improving the efficiency and wear life of these brakes and red