Press release
Industrial Gearbox Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Industrial Gearbox
What Is the Expected Industrial Gearbox Market Size During the Forecast Period?
The market size of the industrial gearbox has seen a substantial rise in the past few years. The projected increase is from $31.39 billion in 2024 to approximately $33.06 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%. The escalation in the past can be credited to the expansion in the manufacturing sector, robust economic development in upcoming markets, and a surge in the interest for electric vehicles.
In the coming years, the industrial gearbox market is predicted to experience substantial expansion, reaching a size of $41.55 billion in 2029 with a compound annual growth rate (CAGR) of 5.9%. These growth prospects for the forecast period are attributable to the increasing embracement of industrial automation, urbanization, and the popular use of embedded robots. During the projection period, there will be a strong emphasis on emerging technologies, innovation in products, accelerated digitization in industries, launching of new products, and mergers and acquisitions.
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What Are the High-Growth Segments in the Industrial Gearbox Market?
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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What Key Drivers Are Expected to Influence Future Industrial Gearbox Market Growth?
The escalating uptake of industrial automation has significantly influenced the growth of the industrial gearbox market. Industrial automation systems, which are computer-controlled systems that control and supervise a process, machine, or device to accomplish repetitive tasks, are developed to operate independently, enhancing and streamlining human labor in industries. For example, in September 2023, the International Federation of Robotics, which is a Germany-based non-profit organization, reported that in 2022, robot installations reached a yearly total of 290,258 units, surpassing the former record established in 2021, and reflecting a growth rate of 5%. Therefore, the burgeoning adoption of industrial automation has substantially driven the industrial gearbox market.
Which Companies Hold the Largest Share Across Different Industrial Gearbox Market Segments?
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.
What Are the Latest Developing Trends in the Industrial Gearbox Market?
The trend toward speedier digitized automation in industrial sectors indicates a push for the rapid incorporation of digital technologies and automation. The drive is towards enhancing operational effectiveness, boosting productivity, and cutting costs by digitizing and automating otherwise manual tasks and processes. The utilization of technologies such as artificial intelligence (AI), the Internet of Things (IoT), and robotics play a significant role in this pursuit. The intent is to take their establishments from manual labor to intelligent factories with automated processes that consistently align with human resources, sensors, and devices via IoT. Digital process automation enables companies to pivot towards a customer-centric approach and become more agile. More than that, the shift to a digitized and intelligent operating model makes way for adventurous product innovation. In February 2023, Schneider Electric, a firm specializing in digital energy management and automation, unveiled its new Industrial Digital Transformation Services at the 27th Annual ARC Industry Leadership Forum. This unique global service is designed to help industries realize comprehensive digital automation that is innovative, sustainable, and efficient, thus prepared for the future. These elements are likely to foster the adoption of automated processes, therefore increasing the usage of automated equipment. The transition towards automated processes will further empower industries to work with more advanced gears and equipment.
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What Are the Emerging Geographies for The Industrial Gearbox Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Gearbox Market?
2. What is the CAGR expected in the Industrial Gearbox Market?
3. What Are the Key Innovations Transforming the Industrial Gearbox Industry?
4. Which Region Is Leading the Industrial Gearbox Market?
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