Industrial Gears Market 2022 Size, Share, Trends, Application Analysis, Growth and Forecast To 2027 | Aisin Seiki, General Motors, Volkswagen.

Astute Analytica released a new market report on the Industrial Gears Market. The in-depth study of the industry includes inputs, information, and data from primary and secondary sources that have been evaluated and verified by specialists in the target market.

Along with significant data and other pertinent information, the study evaluates the competitive landscape and global market growth trend based on the business overview and helps businesses and investment organizations better grasp the market's growth characteristics.

The Global Industrial Gears Market size was US$ 204,052.2 million in 2021 and forecast to grow to US$ 260,765.0 million by 2027, registering a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2022 to 2027.

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Regional Analysis:

North America is expected to grow at a moderate rate, closely followed by Europe due to the well-developed infrastructure of these regions. Furthermore, the presence of various safety standards such as quiet operation, low emission, and others will contribute to the growth of the market.

The presence of developing economies such as India, China, etc., will drive the industry forward. It is majorly attributable to the growing urbanization and industrialization in the region. Further, the availability of cheap labor and raw materials has increased factory setup in the region. According to Invest India, the Parliament passed a bill with the aim to develop National Bank for Financing Infrastructure and Development (NaBFID) in order to invest in infrastructure projects in the country. Moreover, the same source estimates that infrastructure activities held a 13% share of the total FDI inflows of US$ 81.72 billion in In FY21.

COVID-19 Impact

Following the coronavirus pandemic, the market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the industry.

Major Key Players in the Industrial Gears Market are:

Ford Motor Company
Honda Motor
ZF Friedrichshafen
Toyota Industries Corporation
Aisin Seiki
General Motors
Volkswagen.
Aero Gear Inc.
Precipart Corporation
Hota Industrial Manufacturing Co. Ltd
Cleveland Gear Company
Eaton
Philadelphia Gear
ITAMCO
Riley Gear Corporation
Atlas Gear Company
David Brown Santasalo
Martin Sprocket & Gear Inc.
Jackson Gear Company
OKUBO GEAR Co. Ltd
Omni G&M Corporation
Gear Motions
Caterpillar Inc
Segmental Analysis:

The segmentation section of the report focuses on every segment, along with highlighting the ones having a strong impact on the Industrial Gears Market. The segmentation served as the foundation for finding businesses and examining their financial standings, product portfolios, and future growth potential. The second step entailed evaluating the core competencies and market shares of top firms in order to predict the degree of competition. A bottom-up method was used to assess the market's overall size.

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Segmentation Overview

By Product:

Spur Gear
Planetary Gear
Helical Gear
Rack and Pinion Gear
Worm Gear
Bevel Gear
Others
By Application:

Automotive
Aviation
Agricultural Machinery
Construction Machinery
Material Handling
Mining Equipment
Oilfield Equipment
Power Plants
Pulp and Paper
Steel and Manufacturing
Others
By Distribution Channel:

OEMs
Aftermarket
By Region:

North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Italy
Spain
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
South Korea
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Argentina
Brazil
Rest of South America
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This release was published on openPR.