Global Industrial Gearbox Market Is Likely To Grow At A CAGR Value Of Around 3.90 % By 2028

The global Industrial Gearbox market was worth around USD 26.90 billion in 2021 and is estimated to grow to about USD 33.84 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.90 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

An industrial gearbox is a closed system that transmits mechanical energy to an output device. To make energy useable, gearboxes can vary the speed, torque, and other aspects of the energy. Gearboxes can be found in a variety of devices and perform a variety of tasks. These machines can lower the rate of spin to boost torque and speed. The increasing use of automation across all industrial sectors is a major driver of the industrial gearbox industry's growth, although direct drive methods remain a stumbling hurdle. Misalignment, lubrication troubles, bearing problems, and thermal instability are only some of the market's shortcomings.

The growing acceptance of Industry 4.0 trends, as well as the increasing use of automated machinery, are driving the global market for industrial gearboxes. Furthermore, the introduction of stringent government regulations requiring industrial units to reduce noise pollution and power overload is boosting the use of industrial gearboxes. Demand for items that absorb kinetic energy in wind or hydro turbines to generate power is increasing as the renewable energy sector grows. The implementation of favourable government rules and financial incentives for the development of clean and safe power sources is catalysing the market for industrial gearboxes.

The global Industrial Gearbox market is divided into four categories: type, design, industry, and geography.

The market is divided into planetary, helical, bevel, spur, worm, and other types (helical-bevel, planetary worm). I

n a helical gearbox, the teeth of a helical gear are cut at an angle to the gear's face. When two teeth make contact during the process, it happens gradually, beginning at one end of the tooth and continuing until the gear is fully engaged. As a result, it has the ability to run smoothly while producing large thrust outputs. Because it generates a lot of thrust, it is the most widely used gear in automobile transmissions. Helical gearboxes are characterised by extremely high output torques, quiet operation, and a long service life. Helical Gearboxes, after Planetary Gearboxes, are the most efficient gearboxes in the industry, with a 98 percent efficiency rating. Due to their high efficiency and thrust generating capabilities, helical gearboxes are utilised in critical industries such as power, fertiliser, rolling mills, automobile, steel, and port industries, as well as manufacturing sectors such as plastics, textiles, and food.

The end-user categories of the market include wind power, cement & aggregate, chemical, rubber & plastic, construction, food & beverage, marine, material handling, metals & mining, power generation, recreational vehicle, transport industry, agricultural, automotive, and others. The wind energy sector is expected to grow at the fastest rate. India is the world's fourth-largest onshore wind market by installations, with 38.6 GW as of 2020.

The Asia-Pacific region accounted for a significant portion of the industrial gearbox market in 2020, owing to increased demand for gearboxes in various applications such as the manufacturing sector, power industry, and others. China has been instrumental in the rise of the global industrial sector. The country is the market leader in the chemical, steel, electricity, and cement industries, as well as a prominent player in the petrochemical and refining industries. Furthermore, steel production is predicted to increase by 6.5 percent in 2020 compared to the previous year. China is the largest producer and exporter of crude steel in the world, accounting for more than half of global output..

Key players functioning in the global Industrial Gearbox market include Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), and Dana Brevini (Italy).

Recent developments:

• In March 2021, Nanjing, China. Ltd (NGC) placed an order for around 656 gearboxes, namely PDM460 dual-stage gears, from Nanjing High Accuracy Drive Equipment Manufacturing Group Co. in Nanjing, China. Gearboxes have been ordered by the Perth subway system in Australia. The PDM460 subway gearbox used in this order was described as having high bearing capacity, high reliability, and other characteristics.

Browse the full “Industrial Gearbox Market By Type(Planetary, Helical, Bevel, Spur, Worm, Other (Helical-Bevel, Planetary Worm)), By Design(Parallel axis, Angular axis, Others (non-coplanar and non-parallel axis)),By Industry(Wind Power, Cement & Aggregates, Chemical, Rubber & Plastics, Construction, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Transportation, Industry, Agriculture, Automotive, Others (Aerospace, Defense, Semiconductor, Robotics, Textile, Healthcare)), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/industrial-gearbox-market

Global Industrial Gearbox market is segmented as follows:

By Type

• Planetary
• Helical
• Bevel
• Spur
• Worm
• Other (Helical-Bevel, Planetary Worm)

By Design

• Parallel axis
• Angular axis
• Others (non-coplanar and non-parallel axis)

By Industry

• Wind Power
• Cement & Aggregates
• Chemical, Rubber & Plastics
• Construction
• Food & Beverage
• Marine
• Material Handling
• Metals & Mining
• Power Generation
• Recreational Vehicle
• Transportation Industry
• Agriculture
• Automotive
• Others (Aerospace, Defense, Semiconductor, Robotics, Textile, Healthcare)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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