According to IMARC Group’s latest report, titled “Industrial Gearbox Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” Offers a comprehensive analysis of the industry, which comprises insights on industrial gearbox market.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The global industrial gearbox market is expected to exhibit a CAGR of 4.57% during 2022-2027. An industrial gearbox represents an enclosed system that is used to transfer mechanical energy from one device to another. It can adjust the ratio of torque, speed, and rate of rotation transmitted to an output device. Some of the common variants available in the market include a helical gearbox, coaxial helical inline gearbox, spur gearbox, bevel helical gearbox, etc. These devices provide several benefits in minimizing workload, maintaining torque, enhancing operational output, controlling vibration and noise, etc. Consequently, industrial gearbox finds extensive applications across numerous industries, such as construction, food and beverage (FB), power generation, marine, material handling, metal and mining, agriculture, automotive, etc.
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Market Trends
The growing penetration of Industry 4.0 trends and the escalating demand for industrial gearboxes in the construction sector for enhanced operational efficiency of conveyors, crushers, plastic extruders, etc., are primarily driving the global market. Furthermore, a significant rise in the renewable energy sector is also augmenting the product demand for absorbing kinetic energy in the hydro or wind turbines to produce electricity. Additionally, the introduction of favorable government policies and financial incentives for the development of safe and clean power sources is propelling the market for industrial gearboxes. Besides this, numerous technological advancements such as the integration of AI and robotics for automated and highly efficient industrial processes will continue to drive the global market for industrial gearboxes in the coming years.
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List of Key Companies Covered in this Market Report:
ABB Ltd.
Altra Industrial Motion Corp.
Bonfiglioli Riduttori SPA (Bonfi SRL)
Bondioli Pavesi S.p.A.
Emerson Electric Co.
Elecon Engineering Company Ltd.
Johnson Electric Holdings Limited
Siemens AG
Sumitomo Heavy Industries Ltd.
SEW-EURODRIVE GmbH Co KG.
The report has segmented the market on the basis of type, design, application and geography.
Breakup by Type:
Helical Gearbox
Planetary Gearbox
Bevel Gearbox
Spur Gearbox
Worm Gearbox
Others
Breakup by Design:
Parallel Axis
Angled Axis
Others
Breakup by Application:
Construction and Mining Equipment
Automotive
Chemicals, Rubber and Plastic
Wind Power
Material Handling
Power Generation
Agriculture
Others
Breakup by Geography:
North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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