Global
Industrial Gearbox Market Scenario
An industrial gearbox is a closed
system that transfers the mechanical energy to an output device. It is used to
increase the torque while reducing the speed of a prime mover output shaft. It
transmits the speed, torque, and other attributes to convert the energy into
useable form. Industrial gearbox is extensively used in generating power
from renewable energy sources. The global Industrial Gearbox market is
estimated to expand at 5.00% CAGR during the forecast period.
Industrial gearbox is defined as
the enclosed system which helps in transmitting mechanical energy to an output
device. Industrial gearbox slowdown the rate of rotation in order to increase
speed and torque. High reliability of industrial gearbox is demanded in some
applications as its breakdown can cause serious implications. So, manufacturers
of industrial gearbox are focusing on designing of industrial gearbox in order
to match customer’s requirements. Industrial gearbox is used in high speed applications
such as aerospace, automobile, and marine.
The global Industrial Gearbox
market is set to witness significant growth due to rising use of industrial
gearbox in manufacturing sector and in machine tools and material handling
equipment. The demand for energy efficient gearbox is likely to boos the demand
of industrial gearbox market. The renewable power generation is also expected
to offer promising business opportunities to the industrial gearbox during the
forecast period. According to IRENA (International Renewable Energy
Association), renewable power generation is expected to hold 36% share in the
total power generation capacity by 2030 from 18% in 2015. However, the features
such as overheating, excessive noise, and oil leaks of industrial gearbox is
likely to restraint the industrial gearbox market.
Prominent
Players
The key players of the global
Industrial gearbox market are Emerson Electric Co, Johnson Electric Holdings
Limited, Siemens AG, Sumitomo Heavy Industries Ltd, Watt Drive Weg Group,
Sew-Eurodrive, Schneider Electric, GKN Off-Highway Powertrain, ABB Ltd, Bauer
Gear Motor, Bondioli & Pavesi, Dana Brevini, Bonfiglioli, Comer Industries,
Elecon Engineering, and China High Speed Transmission Equipment Group Co.,
Ltd., among others.
Industry
Segmentation
The global industrial gearbox
market is segmented based on type, design, industry, and region.
On the basis of type, the global
market has been segmented into planetary, helical, bevel, spur, worm, and
others.
On the basis of design, the global
market has been segmented into parallel axis, angled axis, and others.
On the basis of industry, the
global market has been segmented into wind power, construction, material
handling, industrial, marine, power generation (excluding wind power), and
others.
Regional
Outlook
Region wise, Asia-Pacific held the
largest market share of the global industrial gearbox market in 2017 due to
increasing use of industrial gearbox in many manufacturing industries. This
growth will witness a positive outlook in the coming years owing to increasing
automation in industries such as automobile, food processing, and agriculture
machinery. Moreover, increasing investments in renewable power generation with
a shift towards wind power is driving the industrial gearbox market.
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