Summary

Global Industrial Gearbox Market is expected to grow at a significant rate of around 4% during the forecast period. An industrial gearbox is defined as a mechanical device used to transfer power from one rotating machine part to another. It is frequently utilized in heavy-duty industrial applications where a lot of power needs to be moved quickly or across a lot of distance. In industrial gearboxes, several gears are normally contained in a housing or casing, which serves to safeguard the gears from harm and prevent oil leakage. Many companies in the market are launching new products that are helping industries increase their product portfolio. For instance, in Oct 2020, New Hansen launched M5CT industrial gearbox for Wet Cooling Tower WCT and Air-Cooled Condenser ACC.

Siemens; Nanjing High Precision Transmission Equipment Manufacturing Group Co., Ltd.; ZF Friedrichshafen AG; Advance Europe; Chongqing Gearbox Co.Ltd; Bonfiglioli Transmissions Private Limited; NORD; Flender; ZOLLERN GmbH & Co. KG; Dalian Huarui Heavy Industry India Company Private Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, the planetary category is expected to grow with a significant CAGR during the forecast period.”
Based on type, the market is segmented into planetary, helical, bevel, spur, worm, and others. The planetary category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the high torque density, which transmits a lot of power within a relatively small package size. This makes them ideal for applications where space is limited, such as in the automotive, aerospace, and robotics industries. Additionally, planetary gearboxes are highly efficient, with low friction losses and high energy density, making them ideal for use in applications where energy efficiency is crucial, such as in wind turbines, electric vehicles, and industrial machinery.

“Amongst design, the parallel axis is expected to grow with a significant CAGR during the forecast period.”
Based on design, the market is categorized into parallel axis, angled axis, and others. Among these, the parallel axis is expected to grow with a significant CAGR during the forecast period. This is mainly due to the ability to transmit power between parallel shafts, making them ideal for use in applications where the input and output shafts are on the same plane. Due to this, they are used for multiple applications such as conveyor systems, machine tools, and material handling equipment. Thus, such applications are increasing the demand for parallel axis industrial gearboxes across the globe.

“APAC is anticipated to grow at a substantial CAGR during the forecast period.”
In 2021, APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rapid urbanization and industrialization in the emerging economies of the region are driving the growth of the market. Moreover, the region has major heavy industries such as power generation, oil & gas, mining, and construction are further expected to support the market growth. In addition, the industries rely on large machinery and equipment, including industrial gearboxes to carry out the operations with the industries. Furthermore, the government in several APAC countries is investing in renewable energy and energy-efficient technologies, which are driving the growth of the market.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global industrial gearbox market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.

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