Industrial Gearbox Market

Global Industrial Gearbox Market

Industrial Gearbox Market- By Type, Design, Industry and Region.

Market Synopsis:

The Global Industrial Gearbox Market is valued at USD 27.01 Billion in the year 2022 and is projected to reach a value of USD 36.69 Billion by the year 2030. The Global Market is forecasted to grow exhibiting a Compound Annual Growth Rate (CAGR) of 3.90% over the forecast period.

An enclosed system used to transfer mechanical energy from one device to another is referred to as an Industrial Gearbox. Spur gearboxes, helical gearboxes, coaxial helical inline gearboxes, and bevel helical gearboxes are examples of typical product variations. These devices provide several benefits, including increased operating output, reduced workload, torque maintenance, vibration and noise control, and more.

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As a result, Industrial Gearboxes are used in a wide range of industries, including power generation, construction, food and beverage processing, maritime, material handling, metal and mining, agriculture, and automotive. The rising use of automation across all industrial sectors, rapid growth of the construction industry, and growing manufacturing industries all over the world are boosting demand for industrial gearboxes.

Furthermore, the increasing use of digitalization and robots in manufacturing industries such as paper, rubber, plastic, chemical, and cement is assisting the Industrial Gearbox Market's growth. Furthermore, rising demand for the development of robots for use in the manufacturing of autos and electric vehicles is favorably impacting market growth. The spike in the worldwide automotive industry's expansion is boosting the Industrial Gearbox Market even faster. However, a slowdown in European industrialization and technical hurdles such as power overload, gear wear, and water and oil particulate contamination are expected to stymie market expansion over the projection period.

Market Segmentation:

The Industrial Gearbox Market is segmented on the basis of Type, Design and Industry. On the basis of Type, the market is segmented into Planetary, Helical, Bevel, Spur, Worm, Other (Helical-Bevel, Planetary Worm). On the basis of Design, the market is segmented into Parallel axis, Angular axis, Others (non-coplanar and non-parallel axis). On the basis of End Users, the market is segmented into Wind Power, Cement & Aggregates, Chemical, Rubber & Plastics, Construction, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Transportation Industry, Agriculture, Automotive, Others (Aerospace, Defense, Semiconductor, Robotics, Textile, Healthcare).

Based on Type:

In 2021, the market was led by Helical. The teeth of a helical gear cut at an angle to the gear's face in a helical gearbox. When two teeth begin to engage during the process, contact is gradual, beginning at one end of the tooth and continuing as the gear turns in full engagement. As a result, it provides both smooth operation capability and large thrust outputs. Helical gearboxes are utilized in vehicle transmissions for medium and heavy-duty industrial applications because they can handle high speeds and loads. Many engineering and performance benefits come from modular design and construction, including a high degree of interchangeability of parts and sub-assemblies. As a result, significant cost savings are achieved while retaining the greatest level of component integrity.

Based on Design:

The global market for Industrial Gearbox is led by parallel axis, which is likely to maintain its lead during the forecast period. The parallel sector is expected to lead the market, owing to the parallel axis design used in the manufacture of helical and planetary gearboxes. Parallel gearboxes also offer higher load capacities and are substantially quieter than non-parallel gearboxes. During the forecast period, all of these factors are expected to boost the market growth.

Asia Pacific Region to Stand Firm on its Leading Position in the Industrial Gearbox Market

Asia Pacific is projected to acquire the largest market share with a share of 38.20%. Because of the growing demand for Gear Boxes in various industries like as manufacturing, power generation, and so on India, China, Japan, Korea, and Australia are among the region's most important contributors. China has played a critical role in the global industrial sector's expansion. In the steel, chemical, power, and cement industries, the country is the market leader, and it is also a major player in the petrochemical and refining industries. Despite the breakout of COVID-19, the country's industrial sector has been growing at a rate of above 3% since April 2020, with an all-time high of 35.1 % in January 2021.