According to IMARC Group’s latest report, titled “Industrial Gearbox Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global industrial gearbox market size reached US$ 28.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 38.0 Billion by 2028, exhibiting a growth rate (CAGR) of 4.8% during 2023-2028.
An industrial gearbox is a mechanical system wherein mechanical energy is transferred to an output device. It is employed to modify torque and speed for converting energy into a usable form. It offers high efficiency and load-carrying capacity and helps minimize vibration and noise in the system. It also aids in efficiently running the machinery used in different applications, such as automotive, construction and mining equipment, wind power, chemical, rubber and plastic, material handling, power generation, and agriculture.
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Market Trends
At present, the rising adoption of robotic machinery and escalating demand for controlling noise pollution across different industries represent one of the key factors catalyzing the installation of industrial gearboxes. Industrial gearboxes are widely employed in the joints of these robotic arms help control the speed and direction of movement. Apart from this, industrial gearboxes are utilized in power plants for performing vital functions, such as driving air preheaters, coal crushers, turbine drives, conveying systems, and cooling tower fans. This, coupled with the high precision ability of gearboxes, is creating a positive market outlook. Furthermore, the easy availability of multiple industrial gearbox variants, such as helical, planetary, bevel, spur, and worm, is fueling the growth of the market.
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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
- Others
Breakup by Design:
- Parallel Axis
- Angled Axis
- Others
Breakup by Application:
- Construction and Mining Equipment
- Automotive
- Chemicals, Rubber and Plastic
- Wind Power
- Material Handling
- Power Generation
- Agriculture
- Others
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 (2017-2022)
- Market Outlook (2023- 2028)
- 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.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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