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Industrial Gearbox Market Growth, Analysis, Future Scope, Segment, Insight, Forecast By 2030
Industrial Gearbox Market
According to MRFR analysis, the Global Industrial Gearbox Market is expected to register a CAGR of 4.60% from 2022 to 2030 and hold a value of over USD 39.12 billion by 2030.
The Global Industrial Gearbox Market refers to the market for the various types of gearboxes that are used in industrial applications such as manufacturing, construction, transportation, and power generation.
Industrial gearboxes are mechanical devices that transmit power and torque from one rotating machine component to another through the use of gears.
The market is driven by factors such as growing industrialization, increasing demand for energy-efficient and reliable equipment, and the development of automation and robotics in manufacturing.
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The COVID-19 pandemic had a significant impact on the global industrial gearbox market. The pandemic has caused disruptions in supply chains and manufacturing operations, leading to a slowdown in the demand for industrial gearboxes.
The market has also been affected by the reduced investment in new projects and capital expenditure by industrial companies due to the economic uncertainty caused by the pandemic.
The pandemic has also led to changes in consumer behavior, such as a shift towards online shopping, which has impacted the transportation and logistics industry. This has in turn affected the demand for industrial gearboxes used in transportation and logistics.
Key Players:
David Brown (UK)
Kumera Corporation (Finland)
Parsons Peebles LTD (UK)
Sumitomo Heavy Industries Ltd (Japan)
Fluor Corporation (US)
Triveni Engineering & Industries Ltd (India)
PG Drive (India)
GearTec (US)
Sew-Eurodrive (Germany)
Elecon Group Company Limited (India)
Artec Machine Systems (US)
Dana Limited (US)
GBS Gearbox Services (Switzerland)
Unico Mechanical (US), among others
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Market Segmentation
The Global Industrial Gearbox Market has been segmented into type, plan and industry.
Based on the type, the market has been segmented into planetary, helical, bevel, spur and worm.
Based on the plan, the market has been segmented into equal hub and calculated pivot.
Based on the industry, the market has been segmented into development, power age, modern and material dealing.
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Regional Analysis
The largest region of the Global Industrial Gearbox Market is Asia-Pacific. The region is home to some of the world's fastest-growing economies, such as China and India, which have seen rapid industrialization and urbanization in recent years.
This has led to increased demand for industrial gearboxes to support manufacturing, construction, transportation, and power generation activities.
Moreover, the region has a large number of local manufacturers and suppliers, which has contributed to the growth of the market by making industrial gearboxes more affordable and accessible to businesses of all sizes.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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