Global Industrial
Gearbox Market Research Report by Type (Planetary, Helical, Bevel,
Spur, Worm), Design (Parallel axis, Angled Axis), Size (KW) (Small (up to 55
kW) and Large (above 1 MW)) and Torque, Industry (Power Generation, Construction,
Material Handling, Industrial, Wind Power, Marine) and Region - Forecast till
2024
Industrial Gearbox Market Global Research Report -
Forecast till 2024
The development of mechanical functions across various
industry verticals is creating an impetus for industrial gearboxes. Reports
that gauge the energy and power industry have been made available by Market
Research Future which creates reports on several industry verticals that review
the market growth and prospects. The market is anticipated to attain a 5% CAGR
in the forecast period.
The
growth in industrial automation in Europe and rapid growth of the construction
industry in developing nations are expected to drive the market for industrial
gearbox during the forecast period. The global population has been growing
since the past few decades and is expected to continue growing during the
forecast period. The global trends of digitalization and automation in the
manufacturing has further enabled the growth of the markets for industrial gearbox.
Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19
on Industrial Gearbox Market
is included in the present report.
The upsurge in demand for electric overhead traveling
cranes and machine tools is identified as a key factor enhancing the progress
of the industrial gearbox market. Also, intensified use of automobiles, cement
machinery, and material handling equipment is prompting the increased growth of
industrial gearboxes. Furthermore, amplified demand for automation is expected
to enhance the industrial gearbox market globally.
Segmental Analysis
The analysis of segments in the industrial gearbox
market globally has been conducted on the basis of design, type, end-user, and
region.
By type, the industrial gearbox market has been
segmented into planetary industrial gearbox, helical industrial gearbox, bevel
industrial gearbox, worm industrial gearbox, spur industrial gearbox and others
which comprises of combination gears such as planetary-worm and helical-bevel.
On the basis of industry, the market for industrial
gearbox is segmented into mining, wind turbines, steel plants, food &
beverage, and cement industry.
Based on design, the industrial gearbox market is
segmented into parallel and angled.
The regions counted in the industrial gearbox market
are Asia Pacific, Europe, North America, Middle East, Africa, and South
America.
Regional Analysis
The regional examination of the industrial gearbox
market comprises of regions such as Asia Pacific, Europe, North America, Middle
East, Africa, and South America.
The Asia Pacific region controls the major market
portion of the industrial gearbox market in 2017 owing to the growing usage of
industrial gearbox in several manufacturing industries. This development is
expected to gain a positive outlook in the approaching years due to growing
automation in industries such as food processing, automobile, and agriculture
machinery. Furthermore, growing investments in the renewable power generation
sector with a shift in the direction of wind power is expected to motivate the
industrial gearbox market in the coming years.
Prominent Players:
The central contenders functioning in the industrial
gearbox market are Johnson Electric Holdings Limited, Emerson Electric Co,
Siemens AG, Watt Drive Weg Group, Sew-Eurodrive, Schneider Electric, Sumitomo
Heavy Industries Ltd, ABB Ltd, Bondioli & Pavesi, Dana Brevini, Bauer Gear
Motor, Bonfiglioli, Comer Industries, Elecon Engineering, and China High Speed
Transmission Equipment Group Co., Ltd.
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