Mobile Geared Products Market to Expand at 7.5% CAGR Through 2032 - Insights by Persistence Market Research

The global mobile geared products market is entering a transformative phase, propelled by infrastructure development, electrification, and rapid automation across key industries. As of 2025, the market is valued at US$ 11.5 billion and is projected to grow at a CAGR of 7.5%, reaching US$ 19 billion by 2032, according to Persistence Market Research. The demand surge is especially notable in construction, agriculture, and material handling industries, where mobile equipment requires high-efficiency gear drives to ensure optimal performance and reliability.

Infrastructure programs like the U.S. IIJA and China's Belt & Road Initiative are major catalysts, driving the demand for off-highway machinery equipped with axle, wheel, track, and slew drives. Meanwhile, stricter emissions regulations are accelerating the shift to electric and hybrid equipment, leading to heightened interest in e-axles and integrated gearboxes. Asia Pacific leads the market in terms of volume, primarily due to high equipment deployment in China and India. However, the Middle East and Africa are emerging as the fastest-growing regions due to escalating infrastructure and mining investments.

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✅ Key Highlights from the Report

➤ The global market is expected to reach US$ 19 Bn by 2032, growing at a 7.5% CAGR from 2025.
➤ Axle/wheel drives accounted for 66% of revenue in 2024, led by high demand in material handling.
➤ Asia Pacific held 55% of the market share in 2025, but growth is slowing in China.
➤ Electrification trends and tightening emission norms are fueling demand for integrated e-axles.
➤ Mobile material handling equipment is the fastest-growing application, driven by e-commerce logistics.
➤ Independent suppliers like ZF and Dana dominate the competitive landscape with diversified portfolios.

✅Market Segmentation: Product Type & Application Analysis

By product type, the mobile geared products market is segmented into axle/wheel drives, track drives, slew drives, and winch drives. Among these, axle/wheel drives dominate the market, representing 66% of total revenue in 2024. Their dominance is attributed to widespread applications in compact, mobile, and material handling equipment. Track drives follow, supported by robust demand in excavators and mining machinery. Slew drives, used in renewable energy applications like solar and wind energy, are emerging rapidly due to their efficiency in rotating heavy equipment with precision.

Slew drives, in particular, have found strong relevance in renewable energy systems and advanced lifting mechanisms. These drives are compact yet powerful, supporting solar panel rotation and wind turbine alignment. With renewable electricity projected to increase by 90% by 2030, the demand for slew drives is set to rise sharply. Winch drives, though niche, are essential in specialized equipment such as cranes and lifting gear, particularly in pipeline and infrastructure installation.

In terms of application, the market is categorized into construction equipment, agricultural machinery, off-highway OEM equipment, mobile material handling, and others. Construction equipment continues to lead, capturing over 42% of the market share in 2024, owing to rapid urbanization and infrastructure investments. Excavators, cranes, and tractors heavily depend on geared products for power transmission and operational efficiency.

On the other hand, mobile material handling has emerged as the fastest-growing segment, driven by the rise of e-commerce, automated warehouses, and AGV adoption. As smart logistics gain traction, precision and compact gear drives have become indispensable in enabling seamless operations. Manufacturers catering to this segment with customized, efficient solutions are poised for long-term growth.

✅ Regional Insights

Asia Pacific leads the global market with over 55% market share in 2025, mainly due to the extensive use of heavy machinery in China, India, and Southeast Asia. While the region remains dominant, China's construction slowdown and tightening regulations are prompting a strategic shift in OEM focus toward emerging regions like Southeast Asia and South Asia to sustain momentum.

The Middle East and Africa (EMEA) are anticipated to grow at a CAGR of 7.9% through 2032, emerging as the fastest-growing market. Countries like Saudi Arabia are fueling growth through large-scale infrastructure projects tied to Vision 2030, while Africa is witnessing rising mechanization in agriculture and mining. These trends are driving demand for high-performance geared products in construction and industrial machinery.

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✅ Market Drivers

The dual impact of global infrastructure expansion and electrification trends is significantly boosting the mobile geared products market. Government investments in transportation, housing, and energy infrastructure across developing and developed economies are translating into demand for advanced construction and material handling equipment. This, in turn, increases the need for high-precision axle/wheel and track drives.

At the same time, the push toward lower emissions is prompting a shift toward electric and hybrid equipment, with OEMs integrating e-axles and smart gearboxes. These developments create lucrative opportunities for gear manufacturers specializing in electrified and integrated solutions, as industry leaders like ZF continue to invest in driveline electrification.

✅ Market Restraints

Despite robust growth, the market faces challenges. A slowdown in China's construction sector, spurred by real estate regulations and reduced infrastructure spending, is constraining demand for core components like track drives. Additionally, low-volume segments such as slew and winch drives suffer from limited economies of scale, making it harder for manufacturers to justify large investments or pursue extensive innovation.

These limitations reduce the commercial appeal of certain specialized product lines and discourage OEMs from aggressive regional expansion in affected markets. This scenario calls for strategic recalibration and risk mitigation, especially in markets where demand fluctuations are increasingly common.

✅ Market Opportunities

The most promising opportunity lies in the mobile material handling segment, forecasted to grow at a 7.9% CAGR between 2024 and 2032. The rise of e-commerce, automated logistics, and warehouse robotics is fueling this trend. Gear drives used in forklifts, AGVs, and smart conveyors are becoming more sophisticated, demanding precision, compactness, and energy efficiency.

Companies that tailor products for compact, electric, and automated material handling systems will stand to benefit most. Integration with digital technologies, condition monitoring, and electrification will become decisive in capturing future market share. This makes the sector highly attractive for both legacy gear suppliers and new entrants.

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✅ Reasons to Buy the Report
✔ Comprehensive analysis of the market including growth forecasts through 2032
✔ Insight into high-performing segments like axle/wheel drives and mobile handling equipment
✔ Evaluation of key players, their market positioning, and innovation strategies
✔ In-depth regional analysis, especially on emerging markets like EMEA
✔ Strategic intelligence for OEMs and investors planning future expansion

✅Company Insights

✦ ZF Friedrichshafen AG
✦ Dana Incorporated
✦ Bonfiglioli Riduttori S.p.A.
✦ Bosch Rexroth AG
✦ Kawasaki Precision Machinery
✦ Carraro Group
✦ Comer Industries
✦ Brevini Power Transmission (Dana Brevini)
✦ Oerlikon Drive Systems (Graziano/Fairfield)
✦ Nabtesco Corporation

✅Recent Developments

✦ In 2024, BRIST launched a corner-drive e-axle designed specifically for zero-emission intercity and local buses.
✦ In 2020, ZF rolled out its next-generation AKC active rear axle steering system, now in mass production, enhancing vehicle maneuverability.

✅Conclusion

The mobile geared products market is on an upward trajectory, shaped by industrial automation, electric mobility, and massive infrastructure initiatives worldwide. While China's slowdown presents a short-term headwind, long-term prospects remain robust due to rising demand in emerging markets and transformative industry trends. With strong competition and rapid technological evolution, players must innovate, diversify, and expand their footprints to harness full market potential.

Persistence Market Research offers a detailed roadmap for navigating these developments, enabling stakeholders to make informed decisions and capitalize on upcoming growth opportunities in the global mobile geared products market.

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About Persistence Market Research:

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This release was published on openPR.