Global Industrial Gearbox Market: Types [Helical, Planetary, Bevel, Spur, Worm, and Others], Design[Parallel axis, Angular axis and Others], End users [Wind Power, Chemical, Rubber & Plastics, Cement & Aggregates, Construction, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Transportation Industry, Agriculture, Automotive and Others. Power industry]and Region[North America, Latin America, Europe, Asia-pacific, Middle East and Africa],

MarketOverview

Global Industrial Gearbox market is expected to reach USD 40 bn by 2027.  The industrial gearbox refers to an enclosed system transfers mechanical energy to an output device. It can adjust the speed and adapt the energy into a usable format. It generally has components like gears, bearing covers, bearing keys, shafts,oil rings, and oil seals.

Applications of Industrial gearbox are broad and the end-user industries are ranging from the chemical industry to agriculture.  As automation is changing the landscape of every industry, Industrial gearbox complements this changing industry dynamics. The automated process requires gears and types of equipment to function. The rise of automation propels the Industry gearbox market to develop enhanced gears and equipment to catch up with the demand. 

With the growth in urbanization, there is an enormous demand for developments in infrastructure. Manufacturing sectors need to provide the necessary tools to fulfill the infrastructure need. The industrial gearbox market has the potential to produce such value products for such infrastructural needs.

Thermal instability, Misalignment, bearing problem, lubrication issues and competition from direct drive systems are the major challenges hindering the industrial gearbox market.

Market Segmentation

The global Industrial Gearbox market can be segmented based on Types, Design, End users and Region.

By Type, the global industrial gearbox market can be segmented into Helical, Planetary, Bevel, Spur, Worm, and Others. Of all the types, Planetary gearbox witnessed high growth in the forecasting period of 2020-27. It is due to the increasing demand for alternative energy. The helical gearbox is likely to have the largest market share as it is used in a wide range of applications like blowers, rolling mills, monorail systems,turbines, and overhead conveyors. The helical gearboxes are also used in industries such as chemical, material handling, and power industry. It is compact and consumes less power, thereby making it a cost-effective choice. 

By Design, the Global Industrial gearbox market can be divided into Parallel axis, Angular axis, and Others

By End-users, Global industrial gearbox market can be segmented into Wind Power, Chemical, Rubber & Plastics, Cement & Aggregates, Construction, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Transportation Industry, Agriculture, Automotive and Others. The power industry is likely to hold a considerable market share. The wind power industry particularly needs wind turbines gearbox to operate. With the increasing demand for renewable energy, wind power industry growth will induce the Industrial gearbox market to grow.

By Region, the Global Industrial gearbox market can be divided into North America, Latin America, Europe, Asia-pacific, Middle East and Africa.

Regional analysis

Regionally, Asia-Pacific is likely to grow highest in the forecasted period of 2020-27. Rising urbanization, growing industrialization and the efforts to increase wind energy supplements the growth of the gearbox industry. Countries like India and China are expanding their wind energy potential and there is a huge demand for automation in industries.  Additionally, ongoing investments by the governments and private sector in end-user industries like material handling, power, the construction sector are expected to steer the Industrial gearbox market to grow. 

The European Industrial gearbox market has a significant market share. Countries like Germany and Italy exports and imports Industrial gears at large numbers. High manufacturing activity and the energy-saving concept are the main reasons for the growth in this region.

Competitor Analysis

Siemens AG, Sew-Eurodrive, Bondioli&Pavesi , Bonfiglioli Italia S.P.A (Italy) and Dana Brevini (Italy).