Industrial Gearbox Market 2023 Share, Size, Growth, Trends and Forecast 2028

IMARC Group has recently released a new research study 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. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

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 (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

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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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This release was published on openPR.