openPR Logo
Press release

Industrial Gearbox Market to Hit $31.90 Billion by 2023

04-21-2021 11:01 AM CET | Energy & Environment

Press release from: MarketsandMarkets

The global Industrial Gearbox Market is expected to grow from an estimated $25.91 billion in 2018 to $31.90 billion by 2023, at a CAGR of 4.25% from 2018 to 2023. Increasing requirement for efficient energy gearbox and clean energy sources are driving the growth of the industrial gearbox market. The increasing automation in manufacturing technology is facilitating the growth of the industrial gearbox market. In addition, increasing investments in renewable power generation, with a skew towards wind power, is driving the industrial gearbox market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=66822993

The wind power segment is expected to grow at a high rate in the industrial gearbox market

The Global Wind Energy Council has projected installation of more than 300 GW of wind power during the forecast period. A large number of installations are projected to be in Asia Pacific, North America and European regions. The growing installation of wind turbines will drive the growth of industrial gearboxes.

Industrial Gearbox market has been segmented on the basis of end-user into wind power, cement & aggregate, chemical, rubber & plastic, construction, food & beverage, marine, material handling, metals & mining, power generation, recreational vehicle, transport industry, agriculture, automotive, and others. The wind power segment is expected to grow at the fastest rate in the industrial gearbox market. The growth in the wind power segment is driven by the increasing investment in wind power installations in Asia Pacific, North America, and Europe.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=66822993

Asia Pacific is expected to be the largest industrial gearbox market

Asia Pacific region is estimated to lead the Industrial Gearbox market in the forecast period. The market in Asia Pacific is expected to hold the largest share and is forecast to grow at the fastest rate during the forecasted period. The region holds the largest market share globally as the 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 Asia Pacific.

Some of the top players in the Industrial Gearbox Market are include Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), and Dana Brevini (Italy).

Content Source: https://www.marketsandmarkets.com/Market-Reports/industrial-gearbox-market-66822993.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Industrial Gearbox Market to Hit $31.90 Billion by 2023 here

News-ID: 2273099 • Views: 418

More Releases from MarketsandMarkets

Automotive Fuel Cell Market Insights| Key Players: Ballard Power Systems (Canada …
According to the new market research report "Automotive Fuel Cell Market by Component (Fuel Processor, Fuel Cell Stack, Power Conditioner, Air Compressor, Humidifier), Power Output, Hydrogen Fuel Stations, Vehicle Type (Passenger car, LCV, Truck, Bus), Operating Miles, Region - Global Forecast 2028", Published by MarketsandMarkets™, size is projected to grow from 20,168 units in 2021 to reach 596,255 units by 2028, at a CAGR of 62.2%. Factors such as growing
Military Wearables Market worth 6.4 billion by 2025
According to the new market research report on the "Military Wearables Market by End User (Land, Airborne, and Naval), Technology (Communication and Computing, Connectivity, Navigation, Vision & Surveillance, Exoskeleton, Power & Energy Management), Wearable Type, Region - Global Forecast to 2025", The military wearables market is projected to grow from USD 4.2 billion in 2019 to USD 6.4 billion by 2025, at a CAGR of 7.2% from 2019 to 2025.
Sports Technology Market worth $40.2 billion by 2026
According to the new market research report "Sports Technology Market with COVID-19 Impact by Technology (Devices, Smart Stadiums, Sports Analytics and eSports), by Sports (Soccer, Baseball, Basketball, Ice Hockey, Rugby, Tennis, Cricket, Golf, eSports) and Geography - Global Forecast to 2026", the global sports technology market was valued at USD 17.9 billion in 2021 and is expected to reach USD 40.2 billion by 2026, at a CAGR of 17.5% between
Aircraft Pumps Market worth $4.5 billion by 2026
According to a research report "Aircraft Pumps Market by Type (Hydraulic pumps, Fuel pumps, Lube and scavenge pumps, Water and waste water pumps, Air conditioning and cooling pumps), Pressure, End Use (OEM, Aftermarket), Technology, Aircraft Type and Region - Forecast to 2026" published by MarketsandMarkets, the global aircraft pumps market size is projected to grow from USD 3.3 billion in 2021 to USD 4.5 billion by 2026, at a CAGR

All 5 Releases


More Releases for MarketsandMarkets™

IoT Professional Services Market worth $149.9 billion by 2026 | MarketsandMarket …
According to a new market research report "IoT Professional Services Market by Service Type (IoT Consulting, IoT Infrastructure, System Designing and Integration), Organization Size, Deployment Type, Application (Smart Buildings, Smart Transport and Logistics), and Region - Global Forecast to 2026" published by MarketsandMarkets™, the market size projected to grow from USD 98.8 billion in 2020 to USD 149.9 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 7.2%
Electric Powertrain Market Insights by 2027| MarketsandMarkets
The Global Electric Powertrain Market size is projected to reach $191.4 billion by 2027, from an estimated $62.9 billion in 2019, at a CAGR of 14.9 %. The electric powertrain market is expected to witness rapid growth due to stringency in emission norms which is pushing automakers to come up with electrified powertrain technologies. Between 2025 and 2030, emission standards would require automakers to reduce CO2 emissions by 15% and
Automotive Interior Market - Global Forecast to 2025 | MarketsandMarkets
According to the new market research report "Automotive Interior Market by Component (Seat, Interior Lighting), Material (Glass Composite, Carbon Composite, Metal, Vinyl, Fabric), Autonomous Driving (Semi-autonomous, Autonomous), Electric Vehicle, Vehicle Type and Region - Global Forecast to 2025 " Published by MarketsandMarkets™, The global Automotive Interior Market is projected to reach USD 153.8 billion by 2025 from USD 123.2 billion in 2020, at a CAGR of 8.8% during the forecast
Automotive Fuse Market Insights by 2025| MarketsandMarkets
The Automotive Fuse Market is projected to grow at a CAGR of 6.84% during the forecast period, to reach $24.33 Billion by 2025 from $14.33 Billion in 2017. The market is estimated to grow in the near future owing to various factors such as an increase in vehicle production, growing electrification, growing importance of safety & comfort features in mid-segment vehicles which will lead to increase in the number of
Global Connected Car Market by 2025| MarketsandMarkets
According to recent research "Connected Car Market by Service (Connected Services, Safety & Security, and Autonomous Driving), Form (Embedded, Tethered, and Integrated), Network (DSRC, and Cellular), End Market, Transponder, Hardware, and Region - Global Forecast to 2025", The global connected car market is estimated to be USD 72.89 billion in 2017 and is projected to reach USD 219.21 billion by 2025, at a CAGR of 14.8% from 2017 to 2025.
Vehicle Diagnostics Market by Vehicle Type, Application, Connectivity - 2021 | M …
The report "Vehicle Diagnostics Market by Vehicle Type, Application (Automatic Crash Notification, Vehicle Tracking, Vehicle Health Alert & Roadside Assistance), Connectivity (3G, 4G LTE, Wi-Fi, Bluetooth), Region, & Aftermarket (Vehicle Type & Region) - Forecast to 2021", The vehicle diagnostics market is projected to reach a market size of USD 30.22 Billion by 2021, growing at a CAGR of 16.79% from 2016 to 2021. Stringent emission norms, the rising demand