Press release
Global Industrial Gearbox Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033 | Major Players Are Bosch Rexroth AG, Flender GmbH, Dana Incorporated, China High-Speed Transmission Equipment Group Co. Ltd., Bonfiglioli Riduttori SPA.
Industrial Gearbox Market
The Business Research Company presents an extensive market research report on the Industrial Gearbox Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The industrial gearbox market size has grown strongly in recent years. It will grow from $29.95 billion in 2023 to $31.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to growth in the manufacturing industry, strong economic growth in emerging markets and a growing demand for electric vehicles.
The industrial gearbox market size is expected to see strong growth in the next few years. It will grow to $39.29 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to the rising adoption of industrial automation, rising urbanization and an increasing adoption of in-built robots. Major trends in the forecast period include focus on technological advancements, product innovations, faster digitalized automation in industries, new product launches and mergers and acquisitions.
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Key Market Players:
Major companies operating in the industrial gearbox market report are Bosch Rexroth AG, Flender GmbH, Dana Incorporated, China High-Speed Transmission Equipment Group Co. Ltd, Bonfiglioli Riduttori SPA, Getriebebau NORD GmbH & Co. KG, Sumitomo Heavy Industries Co. Ltd., Lenze SE, Elecon Engineering Company Limited, Sew-Eurodrive, Ashoka Machine Tools Corporation, Nord Drive Systems, GearTech, Essential Power Transmission Pvt. Ltd, Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd, Siemens AG, Stellantis, Renold Plc, Highfield Gears, Griffin Gear, Rexnord, Cone Drive Operations, David Brown, Atlanta Gear Works, Superior Gearbox Company, Motus Labsare, Dietz Electric Co. Inc, Sumitomo Drive Technologies, Worm Gearbox Manufacturer, Greenshpon Engineering Ltd, Apex Dynamics, Zollern, Ashot Ashkelon Industries, AL NIHAL INDUSTRIAL EQUIP. TR. LLC, Everest Electrical & Mech Equipment Trading LLC, Synergies Tech DMCC, Nishi Enterprise, Eickhoff, Principal Power Solutions, Volza's, Crane Solutions Global Services Company Ltd.
Market Drivers:
The rising adoption of industrial automation has been a major driving factor for the industrial gearbox market. Industrial automation systems are computerized systems that regulate and monitor a process, machine, or device to perform repetitive activities or duties. They are designed to run on their own to reduce and improve human labor in the business. For instance, in 2021, according to the robotic survey, robots are presently used as an integral part of 44.9 % of the respondents' assembly and manufacturing facilities, according to the poll. More specifically, 34.9 % of those with robots utilize collaborative robots (cobots), whereas the other 65.1 % use only industrial robots. Hence, the rising adoption of industrial automation has been a major driving factor for the industrial gearbox market.
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https://www.thebusinessresearchcompany.com/report/industrial-gearbox-global-market-report
The industrial gearbox market covered in this report is segmented -
1) By Type: Planetary, Helical, Bevel, Spur, Worm, Other Types
2) By Design: Parallel Axis, Angled Axis, Other Designs
3) By Application: Construction & Mining, Automotive, Industrial, Power Generation, Marine, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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