Global Industrial Gearbox Market Scenario
The industrial gearbox is defined as an enclosed
system that can help the user to transmit the mechanical energy to an output
device. Industrial gearboxes can easily modify their features. Market Research
Future (MRFR) has published a research report about the global industrial
gearbox market that estimates a raise for this market at 5% CAGR between 2018
and 2023.
The notable market driver for the global industrial
gearbox market growth is the growing adoption of industrial automation across
various industries. The use of industrial gearboxes is increasing in various
industries as well as applications within those industries. Some of the major
applications that require heavy use of industrial gearboxes include
automobiles, cement machinery, electric overhead traveling cranes, machine
tools, material handling equipment, and sugar machinery. Some examples of
machine tools include drilling machines, grinding machines, and milling
machines. Another important market driver for industrial gearbox is the
increasing investment in renewable power generation with a shift towards wind
power.
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Segmental Analysis
The global industrial gearbox market segmentation
has segmented the market into design, industry, type, and region.
The design-based segmentation of this market covers
the angled axis and parallel axis.
Based on industry, the market is being been
segmented into agriculture, automotive, cement & aggregates, chemicals,
construction, food & beverage, marine, material handling, metals &
mining, power generation (excluding wind power), recreational vehicle, rubber
& plastic, transportation industry (excluding automotive), wind power, and
others. The material handling segment includes lawn & turf. The “other”
segment covers conveyer equipment for a larger group of manufacturing
industries.
By type, the market has been segmented into the
bevel industrial gearbox, helical industrial gearbox, planetary industrial
gearbox, worm industrial gearbox, spur industrial gearbox, and others. The
“others” segment features combination gears such as helical-bevel or
planetary-worm.
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Regional Outlook
The regional segmentation of the global industrial
gearbox market has segmented the market into the regional markets, known as
North America, Europe, South America, Asia Pacific, and the Middle East &
Africa (MEA). Being the largest regional market, the Asia Pacific region is
expected to grow during the forecast period due to the growing use of
industrial gearbox in many manufacturing industries. Due to this growth,
automation in industries like the automobile, agriculture machinery, and food
processing, is expected to increase. The increase in investments for renewable
power generation with a shift towards wind power is also driving the industrial
gearbox market growth. The prestigious country-specific markets in this region
are China, Japan, India, and South Korea, followed by the remaining countries
of the Asia Pacific region.
In North America, the market is strong due to
technological advancement, established automotive industry, and stable
manufacturing industry. USA and Canada are the most important country-specific
markets in this region. In South America, the market is sizable but not as big
as North America because South America is yet to achieve the level of
technological advancement that North America has already achieved. The serious
country-specific markets in this region are Argentina, and Brazil, followed by
the remaining countries of South America.
Europe is a great regional market due to the reasons
that pretty much are the same as in North America. However, many important
market players are also based in Europe. The vital country-specific markets in
this region are France, Germany, Italy, Russia, and the UK, followed by the
remaining countries of Europe.
In the MEA region, the market is paltry due to the
limited availability of advanced technology. The big-league country-specific
markets in this region are Saudi Arabia, UAE, and South Africa, followed by the
remaining countries of the MEA region.
Key Players
The key players in the global industrial gearbox
market include ABB Ltd (Switzerland), Bauer Gear Motor (Germany), Bondioli
& Pavesi (Italy), Bonfiglioli (Italy), China High Speed Transmission Equipment
Group Co. Ltd. (China), Comer Industries (Italy), Dana Brevini (Italy), Elecon
Engineering (India), Emerson Electric Co (USA), GKN Off-Highway Powertrain
(Germany), Johnson Electric Holdings Limited (Hong Kong), Schneider Electric
(France), Sew-Eurodrive (Germany), Siemens AG (Germany), Sumitomo Heavy
Industries Ltd. (Japan), and Watt Drive Weg Group (Austria).
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