Industrial Gearbox Market Report 2022-2027, Size, Share, Growth, Trends and Forecast

According to IMARC Group's latest report, titled "Industrial Gearbox Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The global industrial gearbox market is expected to exhibit a CAGR of 4.57% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

An industrial gearbox represents an enclosed system that is used to transfer mechanical energy from one device to another. It can adjust the ratio of torque, speed, and rate of rotation transmitted to an output device. Some of the common variants available in the market include a helical gearbox, coaxial helical inline gearbox, spur gearbox, bevel helical gearbox, etc. These devices provide several benefits in minimizing workload, maintaining torque, enhancing operational output, controlling vibration and noise, etc. Consequently, industrial gearbox finds extensive applications across numerous industries, such as construction, food and beverage (F&B), power generation, marine, material handling, metal and mining, agriculture, automotive, etc.

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Market Trends

The growing penetration of Industry 4.0 trends and the escalating demand for industrial gearboxes in the construction sector for enhanced operational efficiency of conveyors, crushers, plastic extruders, etc., are primarily driving the global market. Furthermore, a significant rise in the renewable energy sector is also augmenting the product demand for absorbing kinetic energy in the hydro or wind turbines to produce electricity. Additionally, the introduction of favorable government policies and financial incentives for the development of safe and clean power sources is propelling the market for industrial gearboxes. Besides this, numerous technological advancements such as the integration of AI and robotics for automated and highly efficient industrial processes will continue to drive the global market for industrial gearboxes in the coming years.

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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 (2016-2021)
Market Outlook (2022- 2027)
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.

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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.

This release was published on openPR.