Industrial Gearbox Market
Industrial Gearbox Market - Global Industry Assessment & Forecast
- By Type Planetary, Helical, Bevel, Spur, Worm, Other
- By Design Parallel Axis, Angular Axis, Others
- 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
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2021 - 2028|
|Historical Years:||2016 - 2020|
|Revenue 2021:||USD 26.5 Billion|
|Revenue 2028:||USD 33.7 Billion|
|Revenue CAGR (2021 - 2028):||4.1%|
|Fastest Growing Region (2021 - 2028)||Asia Pacific|
|Largest Region (2021):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Industrial Gearbox Market
Industrial Gearbox Market- By Type, Design, Industry and Region.
The Global Industrial Gearbox Market is valued at USD 26.5 Billion in the year 2021 and is projected to reach a value of USD 33.7 Billion by the year 2028. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 4.1% over the forecast period.
Industrial Gearbox Market Size, 2021 To 2028 (USD Billion)
An enclosed system used to transfer mechanical energy from one device to another is referred to as an Industrial Gearbox. Spur gearboxes, helical gearboxes, coaxial helical inline gearboxes, and bevel helical gearboxes are examples of typical product variations. These devices provide several benefits, including increased operating output, reduced workload, torque maintenance, vibration and noise control, and more.
As a result, Industrial Gearboxes are used in a wide range of industries, including power generation, construction, food and beverage processing, maritime, material handling, metal and mining, agriculture, and automotive. The rising use of automation across all industrial sectors, rapid growth of the construction industry, and growing manufacturing industries all over the world are boosting demand for industrial gearboxes.
Furthermore, the increasing use of digitalization and robots in manufacturing industries such as paper, rubber, plastic, chemical, and cement is assisting the Industrial Gearbox Market's growth. Furthermore, rising demand for the development of robots for use in the manufacturing of autos and electric vehicles is favorably impacting market growth. The spike in the worldwide automotive industry's expansion is boosting the Industrial Gearbox Market even faster. However, a slowdown in European industrialization and technical hurdles such as power overload, gear wear, and water and oil particulate contamination are expected to stymie market expansion over the projection period.
The Industrial Gearbox Market is segmented on the basis of Type, Design and Industry. On the basis of Type, the market is segmented into Planetary, Helical, Bevel, Spur, Worm, Other (Helical-Bevel, Planetary Worm). On the basis of Design, the market is segmented into Parallel axis, Angular axis, Others (non-coplanar and non-parallel axis). On the basis of End Users, the market is segmented into 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).
Below tree is interactive. You can click the nodes to get more information.
Based on Type:
In 2021, the market was led by Helical. The teeth of a helical gear cut at an angle to the gear's face in a helical gearbox. When two teeth begin to engage during the process, contact is gradual, beginning at one end of the tooth and continuing as the gear turns in full engagement. As a result, it provides both smooth operation capability and large thrust outputs. Helical gearboxes are utilized in vehicle transmissions for medium and heavy-duty industrial applications because they can handle high speeds and loads. Many engineering and performance benefits come from modular design and construction, including a high degree of interchangeability of parts and sub-assemblies. As a result, significant cost savings are achieved while retaining the greatest level of component integrity.
Based on Design:
The global market for Industrial Gearbox is led by parallel axis, which is likely to maintain its lead during the forecast period. The parallel sector is expected to lead the market, owing to the parallel axis design used in the manufacture of helical and planetary gearboxes. Parallel gearboxes also offer higher load capacities and are substantially quieter than non-parallel gearboxes. During the forecast period, all of these factors are expected to boost the market growth.
Asia Pacific Region to Stand Firm on its Leading Position in the Industrial Gearbox Market
Asia Pacific is projected to acquire the largest market share with a share of 38.20%. Because of the growing demand for Gear Boxes in various industries like as manufacturing, power generation, and so on India, China, Japan, Korea, and Australia are among the region's most important contributors. China has played a critical role in the global industrial sector's expansion. In the steel, chemical, power, and cement industries, the country is the market leader, and it is also a major player in the petrochemical and refining industries. Despite the breakout of COVID-19, the country's industrial sector has been growing at a rate of above 3% since April 2020, with an all-time high of 35.1 % in January 2021.
Key players operating in the Global Industrial Gearbox Market include- Siemens AG (Germany), Bonfiglioli Italia S.P.A. (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), Dana Brevini (Italy), Johnson Electric Holdings limited (Hong Kong), Bauer Gear GmbH (Germany), Sumitomo Heavy Industries Ltd. (Japan) and others.
Segmentation of the Global Industrial Gearbox Market:
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Industrial Gearbox in terms of revenue?
The global Industrial Gearbox valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 4.1%.
Which are the prominent players in the market?
The prominent players in the market are Siemens AG (Germany), Bonfiglioli Italia S.P.A. (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), Dana Brevini (Italy), Johnson Electric Holdings limited (Hong Kong), Bauer Gear GmbH (Germany), Sumitomo Heavy Industries Ltd. (Japan).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 4.1% between 2021 and 2028.
What are the driving factors fueling the growth of the market.
The driving factors of the Industrial Gearbox include
- High Demand for Energy Efficient Gearboxes
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Industrial Gearbox in 2020.