Industrial Gearbox Market Analysis & Forecast 2024-2030

Global Industrial Gearbox Market is expected to reach USD 40655.90 million by 2030 with CAGR of 4.4% between 2024 and 2030

Overview

An industrial gearbox is used in several mechanical operations in different industries. Some large-scale industries that make use of such gearboxes are paper, cement, sugar, steel, and others. Industrial gearboxes help in the smooth working of the machines and assist in maintaining and controlling functionalities like engine functions, speed, etc. Growing adoption of industrial gearbox in multifaceted manufacturing operations, rising automation in different sectors, and growing manufacturing infrastructure in developing countries are some major factors responsible for the growth of the Industrial Gearbox Market. However, high cost and complex functionality might restrict the growth of the global market. Booming investments in the manufacturing sector in developing economies, and emerging applications in the green energy, and mining sectors will offer several growth opportunities for the market in the forecast period.  

Product types & Competitive analysis

Based on industrial gearbox product types, the market is segmented into helical, bevel, planetary, and spurs industrial gearboxes. The planetary gearbox segment is projected to be the fastest-growing segment during the forecast period 2020-2026. The planetary gearbox is gaining prominence in high-end applications such as robotics, 3D printing, wind turbines, steel plants, mining, cement, and food and beverage. Planetary gearbox designs help to achieve high torque in small spaces and are known for their high endurance and accuracy.  

The competitive analysis included in the research study helps the user to understand key players market positioning and marketing strategies. Industrial Gearboxes have several applications in the manufacturing industry and require flexible gearbox solutions for a range of processes. Key players in the industry are focusing on product innovation to offer custom gearbox designs to suit manufacturing capabilities. These companies make use of modern technologies to produce gearboxes with optimum power transmission, high quality, and high precision levels. In addition to the product development companies are focusing on mergers and acquisitions of associated key players to stay ahead in the competition and increase their presence across the region. For instance, in December 2019 Sumitomo Machinery Corp. of America (SMA), one of the leading industrial gearbox manufacturers, acquired LUFTEX GEARS Company engaged in manufacturing and services. The strategic acquisition will increase Sumitomo’s gear manufacturing, repair, and service capabilities in the Western Hemisphere.  

Moreover, in January 2021 Electro-mechanical repair specialist RUBIX UK acquired Knowlton and Newman a company specialized in the repair and replacement of electric motors, pumps, and gearboxes, providing service to minimize downtime for customers and reduce costs. The acquisition of Knowlton and Newman will add to up southern regional hub of Rubix UK’s existing service centres in the Midlands, Southwest and North of England. Several players are working together and entering strategic collaborations and partnerships to offer new products and solutions to the industry.  

Application & Regional analysis

Based on applications, the Industrial Gearbox Market is segmented into material handling, construction, metal and mining, and cement and aggregate. The construction segment led the Industrial Gearbox Market accounting for the largest revenue market share in 2019. Industrial gearboxes are widely used in construction equipment such as dredgers, belt-type spreaders, chain-and-bucket excavators, loaders, etc. The rising construction industry across the world, rising infrastructural activities in rapidly developing countries such as China, and India, and a surge in venture capital investments in real estate will supplement the growth of the segment in the forecast period. Metal and mining are the fastest-growing treatment segment in 2019 and has been growing at a significant pace in the last few years due to growing exploration activities in the U.S., China, Russia, and Gulf countries. Constantly developing technologies and machinery for mining require flexible gearbox solutions which will fuel the growth of the industrial gearbox market.  

 

The regional outlook of the research study is based on an analysis of the market in North America, Europe, Asia Pacific, the Middle East, South America, Africa, and the Rest of the World. The Asia Pacific holds the largest revenue share of the Industrial Gearbox market in 2019. The growth was attributed to the growing demand for Industrial Gearboxes in the manufacturing sector, and rising capital investments from foreign investors in metallurgical industries. The Asia Pacific is a leader in the production of a variety of engineering goods, locomotives, electronic equipment, machine tools, agricultural machinery, etc. North America is anticipated to grow at a considerable growth rate in the forecast period 2020-2026. The growth was attributed to the growing automation in industrial processes and technological advancements in progressive sectors such as industrial robot manufacturing in Canada and the U.S.  

Europe is one of the major consumers of Industrial Gearboxes in the mining, energy, and construction industry. South America and the Middle East are expected to show robust growth over the forecast period due to the developing construction, chemical, oil, and gas sectors and increasing government spending on infrastructure in the region. The region has considerable mineral resources, including crude oil, natural gas, iron ore, coal, tantalite, and others. Many countries in the Middle East and Africa have been working on new mining laws that seek to lift foreign investments in the region which will boost the growth of the market in the forecast period.  

 

Industrial Gearbox Market : Product Types

• Helical
• Bevel
• Planetary
• Spurs

Industrial Gearbox Market : Application

• Material handling
• Construction
• Metal and Mining
• Cement and aggregate

Industrial Gearbox Market : Competitive Analysis

The report includes accurate analysis of key players with Market Value, Company profile, and SWOT analysis. The Study constitutes of the following key players in the Industrial Gearbox Market :

• Nidec
• SEW Eurodrive
• Johnson Electric
• Sumitomo Heavy Industries Ltd
• Emerson Electric Co.
• Comer Industries

Geographical analysis of Industrial Gearbox Market :

• North America
  • U.S.A
  • Canada
• Europe
  • France
  • Germany
  • Spain
  • UK
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South East Asia
• Latin America
  • Brazil
• Middle East and Africa

Global Industrial Gearbox Market Report delivers a comprehensive analysis of the following parameters:

• Market Forecast for 2024-2030
• Market growth drivers
• Challenges and Opportunities
• Emerging and Current market trends
• Market player Capacity, Production, Revenue (Value)
• Supply (Production), Consumption, Export, Import analysis
• End user/application Analysis

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