Industrial Gearbox Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Industrial Gearbox Market grew at a CAGR of 4.0% between 2017-2021 and is estimated to be US$ 26,478.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.3% and is expected to reach a valuation of US$ 40,339.9Mn by 2032 end.
One of the key factors supporting rapid expansion in the worldwide industrial gearbox market in the next years is the increasing use of automation technologies in the manufacturing sector. The growing need for sustainable energy sources and energy-efficient gearboxes is also driving sales in the worldwide industrial gearbox market.
Additionally, the increasing number of expenditures made to advance various industries, such as wind power and other renewable energy sources, is projected to benefit the expansion of the worldwide industrial gearbox market. A further factor contributing to the growth of the worldwide industrial gearbox market is the expanding use of automated industrial gearboxes in numerous end-use sectors, including food processing, agriculture, automotive, and manufacturing.
ChemView Consulting has analyzed that the industrial gearbox is employed in the energy transmission process between devices. Controlling the speed of tools and gadgets is done with the help of an industrial gearbox. Government investments in the power generating sector’s expansion and the use of industrial gearboxes in industries including agriculture machinery, transportation, and food processing are driving the growth of the global market for industrial gearboxes. The spike in demand for automotive components is also driving the development of the worldwide industrial gearbox market.
The parallel axis segment controlled the industrial gearbox market. The industrial gearbox with parallel axes has a straightforward mechanism for use in numerous industries. This industrial gearbox operates at low and medium speeds and is very effective. It is commonly utilized in industries that produce goods.
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Segments Covered in Report
By Type:
- Planetary
- Helical
- Bevel
- Spur
- Worm
- Other (Helical-Bevel, Planetary Worm)
By Design:
- Parallel axis
- Angular axis
- Others (non-coplanar and non-parallel axis)
By Industry:
- Wind Power
- Cement & Aggregates
- Chemical, Rubber & Plastics
- Construction
- Food & Beverage
- Marine
- Material Handling
- Metals & Mining
- Power Generation
- Recreational Vehicle
- Transportation Industry
- Agriculture
- Automotive
- Others (Aerospace, Defense, Semiconductor, Robotics, Textile, Healthcare)
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Industrial Gearbox Market
- Based on the design, the parallel axis segment controlled the industrial gearbox market. The industrial gearbox with parallel axes has a straightforward mechanism for use in numerous industries. This industrial gearbox operates at low and medium speeds and is very effective. It is commonly utilized in industries that produce goods.
- Based on the industry, the wind power generation sector controlled the industrial gearbox market. The surge in demand for energy and electricity and the increased awareness of renewable energy sources drive the growth of the worldwide industrial gearbox market. The need for industrial gearboxes for wind power generation is driven by their various advantages, including increased radial and axial load and shorter positioning times.
- Based on the region, with a 45.8% market share, Asia-Pacific dominated the industrial gearbox market. China controlled the industrial gearbox market. Numerous industries utilize industrial gearboxes.
Competition Summary
Key companies covered in the market study are Watt Drive Antriebstechnik GmbH, Nidec Motor Corporation, Dana Brevini Power Transmission, China High-Speed Transmission Equipment Group Co. Ltd, Johnson Electric Holdings Limited, Sumitomo Heavy Industries Ltd., Bondioli and Pavesi S.p.A., Emerson Electric Co., Comer Industries, SEW Eurodrive
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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