Industrial gearbox Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DM2460 | Last Updated On: Sep 02 2022 | Available Formats

> Global Industrial gearbox Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Industrial Gearbox Market is segmented By Product Type (Worm gearbox, Helical Gearbox, Bevel Gearbox, Planetary gearbox, Others), By Application (Robotics, Aerospace, and defense, Construction, Food & Beverage, Metals & mining, Agriculture, Automotive, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[178 Pages Report] The Global Industrial gearbox Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Industrial gearbox Market - Strategic Insights

Metrics

Details

Market CAGR

 4.2%

Segments Covered

By Product Type, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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The industrial gearbox is electromechanical drive systems which are used to transmit the energy into a useable format. The industrial gearbox provides the highest level of reliability with the safe operation of the heavy machines for high efficiency. It is an enclosed system that transmits mechanical energy to required output device energy for varying the speeds, torque in the equipment. The industrial gearboxes have a variety of applications including for heavy industrial settings like extruders, crushers, coolers, conveyors, as well as in the automotive sector.

Market Dynamics:

The market is driven by the rising demand for automation in the end-user industries like food processing, automobile, agriculture, energy, and utilities due to the surge in industrialization. The industrial gearbox plays a vital role in transmitting power and to protect the motor and other sensitive equipment in the end-user industries. The industrial gearbox is used in the military & aerospace, robotics, and material handling with exceeds its usage due to the industry 4.0 revolution and adaptive technology adoption. According to the World Economic forum organization, the advanced Industrial 4.0 Revolution is projected to reach around USD 3.7 trillion by 2025. Thus it will generate huge demand for industrial gearboxes to fulfill the basic need of the growing population.

There is a rise in the launch of new innovative technology for renewable energy sources which requires gearbox for high efficacy and power transmission. For instance, in July 201p, General Electric has been developed a renewable energy turbine which is the ‘world’s largest offshore wind turbine with a capacity of 12 megawatts. This has been introduced to meet the current energy demand which utilizes the turbine’s gearbox, generator, controller, and brake.

Segment Analysis

The global Industrial Gearbox market is segmented based on product type, voltage capacity, application, end-user, and region.

In terms of product type, the global Industrial Gearbox market is bifurcated into worm gearbox, planetary gearbox, helical gearbox bevel gearbox, and others. Among this helical gearbox has the highest share owing to increase in the demand for heavy equipment in the construction of buildings, plastics, rubber, etc.

Similarly worm, planetary, bevel gearbox segment is also growing at a faster pace due to the increase in adoption in the automotive, aerospace, and defense industries. This gear box is used in heavy and commercial vehicles to transmit the power and torque which utilizes mechanical energy. According to the International Organization of Motor Vehicle Manufacturers, the demand for commercial vehicles has been increased from 2018 with a sales volume of 26 971 331 units to 27 016 764 units in 2019.

Depending on the application, the global industrial gearbox is segmented into, automotive, robotics, food processing, aerospace & defense, Construction, Agriculture, metals & mining, and others. Among these, automotive segment has the highest market share in 2019. This is primarily due to an increase in the vehicle sales and production capabilities in the developing region like China, India, and Brazil.

Similarly, robotics, food processing, aerospace & defense, Construction, Agriculture, metals & mining segments have the highest market share owing to increase in industrialization with surge in the demand of huge population in this sector.

Geographical Presentation

By region, the global Industrial Gearbox market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, The Asia-Pacific region is dominated for industrial gearbox market growth due to the growing demand for automation in industrial robots especially in countries such as China, India, and Japan. According to the International Federation of Robotics (IFR), China is the leading supplier for industrial robot with a share of around 36% in 2018. The organization also stated that in 2018, China has been installed around 154,000 units of robots which propel the growth of industrial gearbox market. Furthermore, the increasing advanced technology adoption for manufacturing facilities and rising automotive manufacturing in this region shall boost the demand for the industrial gearbox over the forecasted period. Several companies are shifting their manufacturing facilities of gearbox companies to Asia Pacific, Middle-East, and Africa region due to availability of low cost labor. The drastic market growth is expected to witness in countries such as China, India, and the UAE due to the rapid economic growth because of rise in adoption of industrialization in these countries.

North America is expected to grow at faster pace the global industrial gearbox market and expected to grow at the highest CAGR during the forecasted period due to presence of advanced technology adoption and surge in industrialization followed by Europe region. According to the International Federation of Robotics (IFR) in 2017, the robots Robot installations value around 5.4 billion in the United States and Europe together with 22% year on year growth. This industrial robot has significant use of different types of gear box in the automation.

Competitive Analysis

The global Industrial gearbox market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. ABB Motors and Generators, Dorris Gear Drives, Schneider Electric, Siemens, Sew-Eurodrive, Sumitomo Heavy Industries, Ltd, Emerson Electric Co Ltd, Renk AG, General Electric, Eickhoff Antriebstechnik GmbH, are the leading market players with significant market share.

Companies are entering into the collaborations, acquisitions, mergers, and licensing for increasing their market penetration. For instance, on Dec 3rd 2019, RENK AG global leader in transmission systems and gearbox has been acquired Horstman Holdings Limited and its group of companies for enhancing it’s for heavy duty applications for military and commercial vehicles. This will boost the demand for industrial gearbox used in the commercial, heavy vehicles.

Why Purchase the Report?

  • Visualize the composition of the global Industrial gearbox market products in terms of Product type, and application highlighting the critical commercial assets and players.
  • Identify commercial opportunities in the global Industrial gearbox market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of global Industrial gearbox market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

**The global Industrial gearbox market report will provide access to approximately 53 market data tables, 44 figures, and 178 pages

Target Audience

  • Industry Investors/Investment Bankers
  • Suppliers/Buyers
  • Education & Research Institutes
  • Manufacturers
  • Research Professionals
  • Emerging Companies
  • Distributors

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