Industrial Gearbox Market Analysis:
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.
Primary
Drivers and Top Challenges
Industrial automation forms the largest part of the gearbox
market and is set to dominate the market in the near future. The automotive
industry is considered to be the most significant consumer of industrial
gearbox, and its continuous evolution in emerging countries like India, China
and Japan can induce strong market growth. Also, the rising need for robots
in-built with a peaked level of elegance can boost the demand for high
precision gearboxes. Moreover, the manufacturing overcapacity coupled with the
increasing labour costs across various regions can compel the manufacturers to go
for automation.
Over the years, wind generation capacity has observed
strong growth owing to the reduced cost of components that are used in wind
turbines. This declining cost of wind turbine gearbox is the result of the
advancements in raw material sourcing as well as supply chain, entry of new
players and evolving designs. Therefore, declining cost of gearboxes that are
used in wind power generation can lead the industrial gearbox market to greater
heights in the ensuing years.
Global
Industrial Gearbox Market
Segmentation
The worldwide market for industrial gearbox has been
thoroughly analyzed with respect to type, design, size (KW), torque, and industry.
Given the type segment, the global market segments are
planetary, helical, worm, bevel, spur, and others.
Design-wise, the market has been considered for angles
axis, parallel axis, and others.
Depending on the size (KW), the market caters to small
(up to 55 KW) and large (above 1 MW).
The torque-based market segments are up to 50,000 Nm
and above 50,000 Nm.
The industries that make extensive use of gearboxes
are wind power, industrial, construction, material handling, marine, power
generation (excluding wind power), and others.
Regional Insight
The global market for industrial gearbox is regionally
split into Europe, North America, the Middle East & Africa, Asia Pacific
(APAC) and South America.
APAC is anticipated to be the largest market for
industrial gearbox in the near future, on account of the soaring demand for
clean energy as well as the boom in industries like construction, food &
beverages and industrial, among others. The market in APAC is a lucrative
market for renewable energy in the world, with the region accounting for close
to two-thirds of the worldwide renewable generating capacity.
North America is a highly profitable market for industrial
gearbox, given the region’s exploration of technological innovations and amplified
competition between the players. In addition, rising shift towards renewable
resources of energy stands as a significant factor that induces market growth
in the region.
Significant
Players
Significant competitors in the worldwide market for industrial
gearbox are Eickhoff Antriebstechnik GmbH (Germany), Zollern GmbH & Co. KG
(Germany), Sew-Eurodrive (Germany), ABB (Switzerland), Emerson Electric Co
(US), Siemens (Germany), Renk AG (Germany), Sumitomo Heavy Industries, Ltd
(Japan), General Electric (US), Nanjing High Speed & Accurate Gear Group
Co., Ltd (China), Nidec-Shimpo Corporation (US), Wikov Industry A.S. (Czech
Republic), Schneider Electric (France), Rexnord Corporation (US), to name a
few.
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