Industrial Gearbox Market Scope
The industrial gearbox is an enclosed system that transmits mechanical energy to an output device. Gearboxes can modify their speed, torque, and other attributes to convert the energy into a useable format. Gearboxes are used in a variety of devices, for a broad range of purposes. These machines can slow the rate of rotation to increase torque and speed. This equipment is used for a broad range of industrial applications, but typically in heavy-duty operations. this has projected the growth of the global industrial gearbox market in the forecast period.
According to AMA, the Global Industrial Gearbox market is expected to see growth rate of 4.09% and may see market size of USD29.32 Billion by 2027.
The Manufacturers having a strong hold in the market are Siemens AG, Klingelnberg, ABB, and Emerson Electric Co.. Research Analyst at AMA estimates that European and United States Manufacturers will contribute to the maximum growth of Global Industrial Gearbox market throughout the predicted period.
Siemens AG (Germany), Klingelnberg (Switzerland), ABB (Switzerland), Emerson Electric Co. (United States), Johnson Electric (China), Sumitomo Heavy Industries Ltd. (Japan), Watt Drive Weg Group. (Austria), Sew-Eurodrive (Germany), Walterscheid Powertrain Group (Germany) and Bauer Gear Motor GmbH (Germany) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Bondioli & Pavesi S.p.A(Italy), Dana Brevini (Italy), Bonfiglioli (Italy), Comer Industries (Italy), Elecon Engineering (India) and China High-Speed Transmission Equipment Group Co., Ltd. (China).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Industrial Gearbox market by Type (Worm Gearbox, Planetary Gearbox, Coaxial Helical Inline Gearbox, Bevel Helical Gearbox, Skew Bevel Helical Gearbox and Others) and Region with country level break-up.
On the basis of geography, the market of Industrial Gearbox has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Rising Rapid Industrialization in Economies Such as the Middle East and Africa
Market Drivers
- Growing Demand for Energy Efficient Gearboxes in the Automotive and Other Applications
- Increasing Adoption of Industrial Automation Across Various Industries in the Developing Economies
Opportunities
- Growing Installation of Gearboxes in Renewable Generation, With A Skew Towards Wind Farm Sector
Restraints
- Technical Challenges Such as Oil Leaks, Excessive Noise, and Overheating
Challenges
- Availability of Alternative Products Such as Variable Frequency Drives (VFDs)
Key Target Audience
Industrial Gearbox Manufacturers, Automotive Industry, Power Generation Industry, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other