Industrial Gearbox Market

Industrial Gearbox Market Size Analysis

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.

Planetary, bevel, worm, helical, and spur gearboxes are among the solutions and products that manufacturers and industry participants offer in the worldwide industrial gearbox market. The planetary gearboxes are among those that are in high demand in the international this market. The increasing use of these planetary gearboxes in wind turbines and steel mills is responsible for this development.

These cutting-edge products are used in a variety of end-use industries, including wind power, agriculture, construction, transportation, chemical, marine, cement and aggregate, material handling, automotive, rubber and plastics, power generation, metal and mining, recreational vehicles, aerospace and defense, and food and beverages. They are used for various applications, including mixers, defusers, crystallizers, port lifting equipment, and pressure gauges.

Market Dynamic

THE GROWTH OF THE GLOBAL INDUSTRIAL GEARBOX MARKET IS BEING DRIVEN BY THE GROWING GOVERNMENT INVESTMENTS

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 GLOBAL INDUSTRIAL GEARBOX MARKET IS EXPERIENCING CHALLENGES IN TERMS OF TECHNICAL DIFFICULTIES

On the other side, technical obstacles pose problems for the global industrial gearbox market. The expansion of the global industrial gearbox market is also anticipated to be constrained by factors like the slowdown in industrial activity. The global market for industrial gearboxes may not fare well due to increasing automation.

THE RAPID INDUSTRIALIZATION IN DEVELOPED AND DEVELOPING NATIONS IS DRIVING THE GROWTH AND DEVELOPMENT OF THE GLOBAL INDUSTRIAL GEARBOX MARKET

The global industrial gearbox market is expanding due to the quick industrialization of both developed and developing countries. The rise of the automotive industry is facilitating the growth of the industrial gearbox market. According to the Mechanical Engineering Industry Association, industrial gearboxes with complete mechanical technology and digitalization generated about $16.35 billion in market revenue in Germany in 2017. Thus, the worldwide industrial gearbox market is expanding thanks to growing robotization.

Market 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)

Segment-Wise Analysis

Why is the parallel axis segment expected to grow with the highest CAGR during the forecast period?

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.

Why is the wind power segment expected to grow with the highest CAGR during the forecast period?

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a 45.8% market share, Asia-Pacific dominated the industrial gearbox market. China controlled the industrial gearbox market. Numerous industries utilize industrial gearboxes.
• North America is anticipated to experience the quickest growth rate during the projection period. In North America, the industrial gearbox market is dominated by the United States and Canada.

Competition Analysis

The industrial gearbox market has a fair amount of concentration. The business intelligence report thoroughly examines the general positioning and specifics of the leading market participants and stakeholders active in the industrial gearbox industry on a global scale. It evaluates their operations, product overview, financial data, company decisions, and revenue over the anticipated time frame.

The recent developments in the Global Industrial Gearbox Market:

• In March 2021, the PDM460 two-stage gearboxes were particularly highlighted in an order for 656 gearboxes placed with Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd. This gearbox was ordered for the Australian subway system in Perth. It was touted that the PDM460 subway gearbox, which was utilized for this order, had great bearing capacity, reliability, and other qualities. It is, therefore, perfect for various loads and strong vibrations and can operate in temperatures between -25 and -50 degrees Celsius.
• In October 2020, at the China Wind Power (CWP) 2020 show, Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd (NGC) unveiled its WinGearTM brand 3. x MW main gearbox platform. The gearbox’s modular design idea and cutting-edge bearing technology produce a high torque density while using less electricity. In addition, the gearbox weighs less than similar industrial gearboxes on the market.

A list of some of the key suppliers present in the market 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

Report Coverage and Highlights

• 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 impacting the 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.