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Industrial Gearbox Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends
Industrial Gearbox Market
The industrial gearbox market has been significantly driven by the growing use of industrial automation. These are computerized systems that control and oversee a process, machine, or apparatus to perform repetitive tasks or responsibilities. They are intended to operate independently to decrease and enhance human labor in the industry. As an example, the International Federation of Robotics, a non-profit organization based in Germany, reported that in 2022, robot installations attained a yearly total of 290,258 units. This surpassed the previous high set in 2021 and demonstrated a growth rate of 5%. Therefore, the escalating use of industrial automation has been a critical propeller for the industrial gearbox market.
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What is the projected compound annual growth rate (CAGR) of the industrial gearbox market from 2025 to 2034, and what factors influence it?
The market size of the industrial gearbox has seen a significant increase in recent years. It is projected to expand from $31.39 billion in 2024 to $33.06 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. The surge during the historic period can be accredited to expansion in the manufacturing sector, robust economic development in emerging markets, and an escalating demand for electric vehicles.
Expectations indicate a significant increase for the industrial gearbox market in upcoming years, projecting its size to elevate to $41.55 billion by 2029 with a compound annual growth rate (CAGR) of 5.9%. This anticipated growth within the forecasted period could be due to factors such as heightened use of industrial automation, urban expansion, and growing usage of integral robots. The forecasted period is also expected to witness major trends including emphasis on technological progression, innovative products, rapid digitized automation in the industry sector, the release of new products, and mergers and acquisitions.
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What new trends are reshaping the industrial gearbox market and its opportunities?
The trend towards rapid digital automation in various industrial sectors is aimed at integrating advanced digital technologies and automation at a faster pace. The objective of this trend is to enhance operational effectiveness, augment productivity, and cut down expenses by digitalizing manual procedures and tasks using modern digital technologies like artificial intelligence (AI), the Internet of Things (IoT), and robotics. The ambition of industries is to transform their facilities into intelligent factories where all procedures will be automated, maintaining continuous synchronization between individuals, sensors, and devices through the Internet of Things. Digital process automation enables companies to be more attentive to customer needs and react swiftly. As the operating model of these companies evolves into a more digitized and intelligent form, it also paves the way for them to take greater strides in product innovation. In February 2023, Schneider Electric, an enterprise specializing in the digital overhaul of energy management and automation, announced the commencement of its unique Industrial Digital Transformation Services at the 27th Annual ARC Industry Leadership Forum. This specialized global service is designed to guide industrial businesses towards achieving comprehensive digital automation that is prepared for the future, innovative, sustainable, and efficient. These aspects are anticipated to encourage the adoption of automated procedures, and consequently, the use of automated machinery. Furthermore, the acceptance of automated processes will allow the industry to make advancements on highly-developed gears and equipment.
What are the major segments of the industrial gearbox market and their role in driving growth?
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 And Mining, Automotive, Industrial, Power Generation, Marine, Other Applications
Subsegments:
1) By Planetary: Spur Planetary Gearbox, Bevel Planetary Gearbox
2) By Helical: Single Helical Gearbox, Double Helical Gearbox
3) By Bevel: Straight Bevel Gearbox, Mitre Bevel Gearbox
4) By Spur: Standard Spur Gearbox, Heavy-Duty Spur Gearbox
5) By Worm: Shaft Mounted Worm Gearbox, Worm Gear Reducer
6) By Other Types: Cycloidal Gearbox, Rack and Pinion Gearbox, Harmonic Drive Gearbox
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Which regions are key players in the growth of the industrial gearbox market?
Asia-Pacific was the largest region in the industrial gearbox market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gearbox market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the industrial gearbox market?
Major companies operating in the industrial gearbox market include 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.
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What Is Covered In The Industrial Gearbox Global Market Report?
• Market Size Forecast: Examine the industrial gearbox market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the industrial gearbox market for a structured understanding.
• Key Players Overview: Analyze major players in the industrial gearbox market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial gearbox market.
• Segment Contributions: Evaluate how different segments drive overall growth in the industrial gearbox market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial gearbox market.
• Industry Challenges: Identify potential risks and obstacles affecting the industrial gearbox market.
• Competitive Landscape: Review strategic developments in the industrial gearbox market, including expansions, agreements, and new product launches.
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