Industrial Gearbox Market Size, Trends, Industry Analysis, Leading Players Review & Future Forecast By 2030

The Industrial Gearbox Market is predicted to develop at a 4.34% CAGR between 2022-2030, states the new Market Research Future (MRFR) analysis. An industrial gearbox, simply put, is a mechanical process for transferring power or energy between process units, machinery, and automation systems. It is placed at the junction of the power shaft and the motor.

Various factors are propelling the global industrial gearbox market share. According to the recent MRFR report, such factors include the growing need for efficient energy gearbox & clean energy sources, increasing automation in manufacturing technology, increasing adoption of industrial automation, technological advances in industrial sectors and robotics, and increasing disposable income. Additional factors adding market growth include growing investments in renewable power generation, demand for wind power, and increasing use of automation in the manufacturing sector.

On the contrary, the slowdown of major economies, technical challenges, high device cost, and the on-going COVID-19 impact are factors which may limit the global industrial gearbox market growth over the forecast period. 

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Competitive Landscape

David Brown (UK), Kumera Corporation (Finland), Sumitomo Heavy Industries, Ltd (Japan), Parsons Peebles LTD (UK), Fluor Corporation (US), Sew-Eurodrive (Germany), Triveni Engineering & Industries Ltd (India), PG Drive (India), GearTec (US), Elecon Group Company Limited (India), Artec Machine Systems (US), GBS Gearbox Services International (Switzerland), Dana Limited (US), and Unico Mechanical (US). 

Market Segmentation

The worldwide industrial gearbox market has been segmented into type, design, size, and industry. 

By type, the global industrial gearbox market has been segmented into planetary, helical, bevel, spur, worm, and others.

By design, the global industrial gearbox market has been segmented into parallel axis, angled axis, and others.

By size, the global industrial gearbox market has been segmented into Small, Large, and Torque,

By industry, the global industrial gearbox market has been segmented into power generation, construction, material handling, industrial, wind power, marine, and others. 

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Regional Analysis

Based on the region, the global industrial gearbox market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Growth in industrial automation, the booming construction industry, especially in developing nations, and increasing technological advances are adding to the global industrial gearbox market growth in the region.

The global industrial gearbox market in the APAC region is predicted to grow at a fast pace over the forecast period. Huge investments made by private organizations and government in material handling, metal and mining, construction, and wind power, constant investments made in developing automation in India, China, and Japan, rising installation of wind power, and growing automation in manufacturing industries are adding to the global industrial gearbox market growth in the region.

The global industrial gearbox market in Europe is predicted to have notable growth over the forecast period. On-going advances in technology, growing adoption of artificial intelligence robots to reduce labor expenses, growing scope of applications, high sophistication level, and increasing focus to improve production efficiency are adding to the global industrial gearbox market growth in the region.

The global industrial gearbox market in the MEA is predicted to have steady growth over the forecast period. 

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Industry News

The purchase of LUFTEX GEARS, Production & Supplies, located in Lufkin in Texas, is delighted to be announced by Sumitomo Machinery, a national largest producer of automotive gearboxes. This is Sumitomo Machinery of America’s first internal purchase since its establishment in 1966. SMA, also identified as Sumitomo Drive Technologies, has substantially increased its headquarters of Chesapeake and opened its western sales and support plant in 2019.

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