According to IMARC Group’s latest report, titled “Industrial Gearbox Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global industrial gearbox market grew at a CAGR of 5% during 2015-2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
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Industrial gearbox is an enclosed system that is designed to transfer mechanical energy from one device to another. It can adjust the ratio of torque, speed, and rate of rotation transmitted to an output device. Some of the common product variants available in the market include helical gearbox, spur gearbox, coaxial helical inline gearbox and bevel helical gearbox. These devices help in improving operational output, reducing workload, maintaining torque, controlling noise and vibration, etc. As a result, industrial gearbox finds widespread applications across diverse industries, including power generation, food and beverages, construction, marine, metal and mining, material handling, agricultural, automotive, etc.
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The growing penetration of Industry 4.0 trends and the escalating demand for industrial gearboxes in the construction sector for enhanced operational efficiency of conveyors, crushers, plastic extruders, etc., are primarily driving the global market. Furthermore, a significant rise in the renewable energy sector is also augmenting the product demand for absorbing kinetic energy in the hydro or wind turbines to produce electricity. Additionally, the introduction of favorable government policies and financial incentives for the development of safe and clean power sources is propelling the market for industrial gearboxes. Besides this, numerous technological advancements such as the integration of AI and robotics for automated and highly efficient industrial processes will continue to drive the global market for industrial gearboxes in the coming years.
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List of Key Companies Covered in this Market Report:
- ABB Ltd.
- Altra Industrial Motion Corp.
- Bonfiglioli Riduttori SPA (Bonfi SRL)
- Bondioli & Pavesi S.p.A.
- Emerson Electric Co.
- Elecon Engineering Company Ltd.
- Johnson Electric Holdings Limited
- Siemens AG
- Sumitomo Heavy Industries Ltd.
- SEW-EURODRIVE GmbH & Co KG.
The report has segmented the market on the basis of type, design, application and geography.
Breakup by Type:
- Helical Gearbox
- Planetary Gearbox
- Bevel Gearbox
- Spur Gearbox
- Worm Gearbox
Breakup by Design:
- Parallel Axis
- Angled Axis
Breakup by Application:
- Construction and Mining Equipment
- Chemicals, Rubber and Plastic
- Wind Power
- Material Handling
- Power Generation
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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