Industrial Gearbox Market Size to reach USD 44.17 billion | Major Companies: ABB Group, Bonfiglioli Italia SpA, Bondioli&Pavesi, Sew-Eurodrive

The Global Industrial Gearbox Market is projected to reach USD 44.17 billion by 2028, growing at a CAGR of 3.9% during the forecast period.

What are industrial gearboxes?
Industrial gearboxes are devices that transmit mechanical energy to an output device. Gearboxes can change their speed, torque, and other characteristics to transform energy into a format that can be used. They are used in several devices in many different end-use industries. To boost torque and velocity, these machines can slow the rotation rate. The growth in technology over the past few decades is driving advances in automation, encouraging the adoption of robots and industrial automation. The global use of automation in all industries is increasing. The rate of adoption of automation is particularly high in the manufacturing sector. This is anticipated to become a driving force for the industrial gearbox market during the forecast period. Robots and automation equipment are usually used in high-speed, repetitive tasks in manufacturing and other industries. To manufacture robots, which have a higher level of sophistication and scope of application; researchers are working on the development of high precision gearboxes.

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The Industrial gearboxes market is segmented into-
Based on the type, industrial gearbox market is categorized into helical, planetary, bevel, worm, spur, and others. The planetary segment will lead the industrial gearbox market in the future. This growth can be attributed to its usage in a broad range of manufacturing and other precision applications as a result of its endurance, accuracy, and distinct functionality.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ABB Group
2. Bonfiglioli Italia SpA
3. Bondioli&Pavesi
4. Sew-Eurodrive
5. Dana Brevini
6. Sumitomo Heavy Industries Ltd.
7. Johnson Electric Holdings Ltd.
8. Bauer Gear Motor
9. China High Speed Transmission Equipment Group
10. Siemens

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Based on the design, the industrial gearbox market is classified into a parallel axis, angular axis, and others. The angular axis segment is projected to be the most popular in this market, as angular axis gearboxes provide stability for every application.

Based on end-user, the industrial gearbox market is fragmented into food and beverage, wind power, construction, marine, agriculture, automotive, and others. The wind power segment is slated to dominate the industrial gearbox market, due to wind power being a renewable form of energy. The growth in wind power generation capacity over the past few decades has been amplified by the decline in the cost of the components used in wind turbines, including the cost of gearboxes. Over the years the cost of wind turbine gearboxes has decreased significantly. This is because of the enhancements in designs, optimization in raw material sourcing, entry of new players into the industrial gearbox market, and larger economies of scale. Due to advances in gearbox technology and a decrease in manufacturing costs, the average price of a gearbox unit has decreased. Additionally, the on-going wind power installations across the Asia Pacific, Europe, and other regions are going to drive this segment growth and development.
Understanding the regional growth pattern of industrial gearbox market

Recently, the geared drive systems have been replaced by direct drive systems in many end-user industries. The characteristics of direct drive systems make them less complex in design and easier to operate and maintain. This is a major factor driving the adoption of these systems in heavy-duty applications such as wind power generation and industrial automation.

The Asia Pacific is expected to hold the most prominent share in the industrial gearbox market for industrial gearboxes during the forecast period due to the rising demand for industrial gearboxes and growing industrialization. Countries such as China and Japan are among the largest manufacturing countries in the world. In addition to this, the projected installation of wind power and the growing automation in the manufacturing industries in the region is driving the growth of the industrial gearbox market in the Asia Pacific.

Reasons for the growth of industrial gearbox market:
o Increasing integration of automation in various end-use industries
o Wide applications of helical gearboxes
o Increasing installation of gearboxes in renewable generation, especially in wind power generation.
o Technical challenges such as overheating, oil leaks, and excessive noise
o Growing competition from direct drive systems

Major developments in the industrial gearbox market:
o In May 2019.? Bonfiglioli Italia SpA(Italy), developed in its research centres a Power Drive System based on the coupling of BSR series synchronous reluctance motors with Active Cube series electric drives, equipped with dedicated sensorless vector control. This can be combined with a wide range of Bonfiglioli industrial gearboxes
o In November 2018, Bauer(Germany), developed gear motors and boxes for pizza packaging line conveyors. The Model BK06 supplied features a PMSM (Permanent Magnet Synchronous Motor) that reduces heat losses from the rotor by 100% and total losses by approximately 25% while increasing total efficiency by 10% or more. This improved performance helps to lower total cost of ownership, reduce CO2 emissions, and ongoing savings that buffer against future increases in energy costs

Market Segmentation:

By Type:
o Bevel
o Planetary
o Helical
o Spur
o Worm
o Combination
By Design:
o Parallel Axis
o Angled Axis
o Other
By End User:
o Cement & Aggregates
o Construction
o Chemicals
o Rubber & Plastic
o Food & Beverages
o Marine
o Wind Power
o Agriculture
o Automotive
o Others
By Region:
o North America
o By Country (US, Canada, Mexico)
o By Type
o By Design
o By End-User
o Western Europe:
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Type
o By Design
o By End-User
o Eastern Europe:
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type
o By Design
o By End-User
o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Type
o By Design
o By End-User
o Middle East:
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Type
o By Design
o By End-User
o Rest of the World
o By Region (South America, Africa)
o By Type
o By Design
o By End-User

Reasons To Buy This Report:
o Market size estimation of the global industrial gearboxes market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

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