Global Industrial Gearbox Market by type (Planetary, Helical, Bevel, Spur, Worm and Other) –by design (Parallel axis, Angular axis and others) – by end user (Wind Power, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Cement & Aggregates, Chemical, Rubber & Plastics, Construction, Transportation Industry, Agriculture, Automotive and Others) -by geography (North America, Europe, Asia Pacific, Middle East & Africa and South America)) – is expected to reach US $ XX Bn by 2027, at a CAGR of XX %.
Rapid advances in industrial automation are driving the growth of industrial gearbox market. Increasing adoption of AI and robots and industrial sectors across the globe is expected to increase the demand for gearbox. In the manufacturing sector, there has been a rapid development in automation. Manufacturing firms are focusing to take precision in efficiency of products with the help of industrial automation. Additionally, the decreasing cost of gearboxes is also expected to fuel the industrial gearbox market growth during the forecast period.
The planetary gearbox segment is estimated to witness large market share in the global industrial gearbox market.
The growth of the industrial gearbox market is attributed towards rapid industrialisation and increasing usage of gearbox in an array of industrial applications. The planetary gearbox is widely used and essential in the end user industries such as wind turbines, steel plants, and various industries such as food and beverage, mining, and cement. These gearboxes also can be used in the applications such as port lifting equipment, mixers, pressure feeder, defuser, and crystallizer. The increasing investment in food and beverage industry and mining and cement industry in the region like Europe and Asia, respectively, is boosting the growth for the planetary gearboxes.
The planetary gearbox is perfect for its endurance, accuracy, and distinct functionality and is prominent for its accuracy applications. This type of gearbox upsurge the lifespan of industrial equipment and enhances performance. Planetary gearboxes originate in either a solid type of hollow format or with a variability of increasing options comprising a flange, shaft, or foot.
Wind power segment is expected to hold major share in the global industrial gearbox market during forecast year.
Based on the end-user, Global industrial gearbox market is divided into wind power, cement & aggregate, chemical, construction, food & beverage, marine, material handling, metals & mining, power generation, recreational vehicle, transport industry, agriculture, automotive, and others. The wind power segment is estimated to grow at the fast rate in the industrial gearbox market. The growth is focused by the growing investment in wind power installations across the globe owing to the increasing awareness and inclination of consumers towards usage of renewable form of energy.
North America is expected to share significant growth in the global industrial gearbox market during the forecast year.
North America held large market growth in the industrial gearbox market globally in 2017. The region is foreseen to preserve its domination in the forecast period. This growth is attributed to the enduring developments related to technology and enhanced infrastructure. The increasing need for reduced consumption of energy in construction spaces with enhanced efficiency is expected fuel the increase of this regional market.
This report comprises a study of marketing and development approaches, along with the product portfolios of leading companies. It includes the profiles of some of the leading manufacturers such as Siemens AG, Bonfiglioli Italia S.P.A, Bondioli & Pavesi, Sew-Eurodrive, Dana Brevini., ABB, China High Speed Transmission Equipment Group, Sumitomo Heavy Industries, GearTech, Inc., Klingelnberg GmbH, Inc, Essential Power Transmission Pvt. Ltd., Griffin Gear Inc., Precipart Corporation, Cleveland Gear Company, NORD drivesystems Pvt. Ltd., Allied Precision Gears Inc., Renold Plc, and Ashoka Machine Tools Corporation.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the global industrial gearbox market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global industrial gearbox market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the sstrategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global industrial gearbox market positioning of competitors.
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