Industrial Gearbox Market - Global Outlook & Forecast 2023-2028

Industrial Gearbox Market - Global Outlook & Forecast 2023-2028


The industrial gearbox market is expected to grow at a CAGR of 4.22% from 2022-2028.

MARKET TRENDS & OPPORTUNITIES

Emerging Wind Power Industry

The global industrial gearbox market is experiencing gradual growth due to the increasing emphasis on replacing conventional energy sources with renewable alternatives, particularly in the wind power sector. Over the past two decades, solar and wind power generation, which were once considered costly options, have become highly competitive in terms of cost compared to the construction of new coal or gas plants. Building new wind and solar projects is expected to become more cost-efficient than continuing the operation of existing coal or gas plants. Moreover, an important factor contributing to the market's growth is the ambitious commitment made by the Global Wind Energy Council. They aim to achieve substantial offshore wind capacity, targeting 380 GW by 2030 and an impressive 2,000 GW by 2050 worldwide. This commitment will likely open significant opportunities for gearbox vendors to deploy wind turbines soon.

Increasing Sugar Industry

According to ITC Trade Map, Trade statistics for international business development, in 2021, The import value of Raw Cane Sugar in Indonesia was around USD 2,229,890 thousand, followed by China with an Import value of $ 1,942,598 thousand. India is the second major exporter of raw cane sugar, with an export value of $1,340,793 thousand, followed by Thailand with an export value of $630,065 thousand. Moreover, in November 2021, The Sugar Research Institute of Fiji released a new cane variety for commercial planting in 2022. The variety had a high sugar content, leading to better yield, more income for the growers, and increased total sugar production. Hence, the industrial gearbox market is witnessing increased demand, primarily driven by the growing sugar industry. The sugar sector is one of the largest industries that extensively utilize diverse machinery. In this industrial domain, gearboxes play a crucial role and are widely employed in their basic form. By integrating gearboxes into the operations of the sugar industry, the machines function efficiently and cohesively, leading to a positive and successful outcome. The use of gearboxes contributes to the well-organized and smooth functioning of the machines in the sugar industry.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The helical industrial gearbox segment dominated the global industrial gearbox market share in 2022. The parallel shafts and winding tooth lines are used in helical industrial gearboxes. They have stronger teeth that seamlessly blend, are quieter, and can transmit larger loads, making them ideal for elevated applications. The modular design and production of helical gearboxes offer various engineering and performance advantages, including a high degree of interchangeability of components and sub-assemblies, resulting in cost-effective construction while maintaining the highest standards of component integrity. Furthermore, the planetary industrial gearbox segment is the fastest-growing segment of the global industry during the forecast period. The planetary industrial gearbox is typically utilized as rotation multipliers. Automatic door openers, motorized wheels, and winches are among the most common applications of planetary industrial gearboxes.

Segmentation by Product
  • Helical
  • Planetary
  • Bevel
  • Worm Reduction
  • Others
INSIGHTS BY CONFIGURATION

The global industrial gearbox market is configured by segments such as parallel axis, angular axis, and others. In 2022, the similar axis segment dominated the industry and accounted for a revenue share of over 41%. The parallel axis industrial gearbox has a simple mechanism for application in various industries. This type of industrial gearbox is highly efficient and runs at low and medium speeds. The angled axis segment is the fastest-growing segment of the industrial gearbox market. The angled axis industrial gearbox is produced at an angle of 90 degrees. The angled-axis industrial gearbox is widely used in the automotive and mechanical sectors.

Segmentation by Configuration
  • Parallel Axis
  • Angular Axis
  • Others
INSIGHTS BY END-USER

The power generation end-user segment is dominating the global industrial gearbox market owing to the surge in demand for energy and power and the growing awareness regarding renewable energy, driving the market's growth. The industrial gearbox has many benefits, such as enhanced radial and axial load and reduced positioning time, causing the demand for industrial gearboxes. Moreover, the cement and aggregates market also significantly contributes to the market owing to cement consumption in the construction industry.

Segmentation by End-Users
  • Power Generation
  • Cement & Aggregates
  • Food & Beverage
  • Metals & Mining
  • Chemical
  • Construction
  • Material Handling
  • Others
GEOGRAPHICAL ANALYSIS

Asia-Pacific dominated the global industrial gearbox market in 2022. The region is home to several industries, including manufacturing, services, automobiles, and electrical drives, which consequently increase the need for power tools, explicitly cutting tools, which have applications in multiple industries. The APAC region has a strong manufacturing sector due to its easy availability and cheap labor cost. While Japan and South Korea are major manufacturers and exporters of electrical appliances and automobiles, Indonesia and China are leading in textile and oil exports. Factors such as growing demand for energy, rapid industrialization and urbanization, and rising initiatives for infrastructural development are boosting the growth of the industrial gearbox market in the Asia-Pacific region.

Segmentation by Geography
  • APAC
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Europe
  • France
  • Germany
  • Italy
  • The U.K.
  • Spain
  • North America
  • The U.S.
  • Canada
  • Latin America
  • Brazil
  • Argentina
  • Mexico
  • Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
VENDOR LANDSCAPE

A diverse range of large and small players characterizes the global industrial gearbox market. These companies actively develop innovative products and invest in research and development initiatives to expand their product offerings. As international players grow their presence in various regions, local manufacturers may face competing challenges. The competition in the industry will primarily revolve around factors such as product durability, lifespan, performance, pricing, and customization options. Moreover, product innovation is gaining popularity in the market as many companies operating in the industrial gearbox market are developing innovative products to strengthen their position in the market.

Key Company Profiles
  • Nangaochi Group
  • Bonfiglioli
  • ZF
Other Prominent Vendors
  • Hangzhou ADVANCE Gearbox Group Co., Ltd.
  • Chongqing Gearbox Co., Ltd.
  • Ningbo Donly Co., Ltd.
  • NORD Group
  • Chongqing Wangjiang Industry Co., Ltd.
  • Dalian Huarui Heavy Industry Group Co., Ltd
  • Sumitomo Heavy Industries
  • Bauer Gear GMBH
  • Emerson Electric
  • Elecon Engineering Co.Ltd
  • Dana Bervini Power Transmission
  • Jhonson Electric Holding Ltd
  • J.S. Gears
  • Flender GMBH
  • Comer Industries S.p.A
  • China High-Speed Transmission Equipment Group Co, Ltd
KEY QUESTIONS ANSWERED:

1. How big is the industrial gearbox market?

2. What is the growth rate of the global industrial gearbox market?

3. Which region dominates the global industrial gearbox market share?

4. Who are the key players in the global industrial gearbox market?

5. What are the significant trends in the industrial gearbox market?


1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.3.1 MARKET SEGMENTATION BY GEOGRAPHY
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 PREMIUM INSIGHTS
6.1 OVERVIEW
6.2 FUTURE OPPORTUNITIES
6.2.1 EMERGING WIND POWER INDUSTRY
6.2.2 GROWING SUGAR INDUSTRY
6.3 SEGMENTATION ANALYSIS
6.3.1 PRODUCT
6.3.2 CONFIGURATION
6.4 GEOGRAPHICAL ANALYSIS
6.5 KEY SNIPPETS
7 MARKET AT A GLANCE
8 INTRODUCTION
8.1 OVERVIEW
8.2 GROWTH ANALYSIS
8.3 MARKET SCENARIO
8.4 RECENT DEVELOPMENTS
8.5 RISE IN NEED FOR EFFICIENT INDUSTRIAL GEARBOX
8.6 EXPANSION OF INDUSTRY 4.0
8.7 RISING AUTOMATION IN MATERIAL-HANDLING EQUIPMENT
8.8 CHALLENGES IN MAINTAINING GEARBOXES
8.8.1 REQUIREMENT OF A DRY PLACE
8.8.2 TEMPERATURE
8.8.3 PARTICULATE ISSUES
8.9 HYDRAULIC SYSTEMS VS GEARBOXES
8.10 INCREASING MANUFACTURING SECTOR IN APAC
8.11 GROWING ROBOTIC INDUSTRY
9 MARKET OPPORTUNITIES & TRENDS
9.1 EMERGING WIND POWER INDUSTRY
9.2 INCREASING FERTILIZER PRODUCTION
9.3 ADVANCES IN TECHNOLOGY
10 MARKET GROWTH ENABLERS
10.1 GROWING SUGAR INDUSTRY
10.2 RISING PAPER AND PACKAGING INDUSTRY
10.3 PRESENCE OF LARGE CEMENT INDUSTRY
11 MARKET RESTRAINTS
11.1 VIOLATION IN RAW MATERIAL PRICES
11.2 TECHNICAL CHALLENGES
12 MARKET LANDSCAPE
12.1 MARKET SIZE & FORECAST
12.2 FIVE FORCES ANALYSIS
12.2.1 THREAT OF NEW ENTRANTS
12.2.2 BARGAINING POWER OF SUPPLIERS
12.2.3 BARGAINING POWER OF BUYERS
12.2.4 THREAT OF SUBSTITUTES
12.2.5 COMPETITIVE RIVALRY
13 PRODUCT
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 HELICAL
13.3.1 MARKET SIZE & FORECAST
13.3.2 MARKET BY GEOGRAPHY
13.4 PLANETARY
13.4.1 MARKET SIZE & FORECAST
13.4.2 MARKET BY GEOGRAPHY
13.5 BEVEL
13.5.1 MARKET SIZE & FORECAST
13.5.2 MARKET BY GEOGRAPHY
13.6 WORM REDUCTION
13.6.1 MARKET SIZE & FORECAST
13.6.2 MARKET BY GEOGRAPHY
13.7 OTHER
13.7.1 MARKET SIZE & FORECAST
13.7.2 MARKET BY GEOGRAPHY
14 CONFIGURATION
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 PARALLEL AXIS
14.3.1 MARKET SIZE & FORECAST
14.3.2 MARKET BY GEOGRAPHY
14.4 ANGULAR AXIS
14.4.1 MARKET SIZE & FORECAST
14.4.2 MARKET BY GEOGRAPHY
14.5 OTHERS (CONFIGURATIONS)
14.5.1 MARKET SIZE & FORECAST
14.5.2 MARKET BY GEOGRAPHY
15 END-USER
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 POWER GENERATION
15.3.1 MARKET SIZE & FORECAST
15.3.2 MARKET BY GEOGRAPHY
15.4 CEMENT & AGGREGATES
15.4.1 MARKET SIZE & FORECAST
15.4.2 MARKET BY GEOGRAPHY
15.5 FOOD & BEVERAGE
15.5.1 MARKET SIZE & FORECAST
15.5.2 MARKET BY GEOGRAPHY
15.6 METAL & MINING
15.6.1 MARKET SIZE & FORECAST
15.6.2 MARKET BY GEOGRAPHY
15.7 CHEMICAL
15.7.1 MARKET SIZE & FORECAST
15.7.2 MARKET BY GEOGRAPHY
15.8 CONSTRUCTION
15.8.1 MARKET SIZE & FORECAST
15.8.2 MARKET BY GEOGRAPHY
15.9 MATERIAL HANDLING
15.9.1 MARKET SIZE & FORECAST
15.9.2 MARKET BY GEOGRAPHY
15.10 OTHERS
15.10.1 MARKET SIZE & FORECAST
15.10.2 MARKET BY GEOGRAPHY
16 GEOGRAPHY
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 GEOGRAPHIC OVERVIEW
17 APAC
17.1 PESTLE ANALYSIS
17.1.1 POLITICAL
17.1.2 ECONOMIC
17.1.3 SOCIAL
17.1.4 TECHNOLOGICAL
17.1.5 LEGAL
17.1.6 ENVIRONMENTAL
17.2 MARKET SIZE & FORECAST
17.3 PRODUCT
17.3.1 MARKET SIZE & FORECAST
17.4 CONFIGURATION
17.4.1 MARKET SIZE & FORECAST
17.5 END-USER
17.5.1 MARKET SIZE & FORECAST
17.6 KEY COUNTRIES
17.7 CHINA: MARKET SIZE & FORECAST
17.8 JAPAN: MARKET SIZE & FORECAST
17.9 INDIA: MARKET SIZE & FORECAST
17.10 AUSTRALIA: MARKET SIZE & FORECAST
17.11 SOUTH KOREA: MARKET SIZE & FORECAST
18 EUROPE
18.1 PESTLE ANALYSIS
18.1.1 POLITICAL
18.1.2 ECONOMIC
18.1.3 SOCIAL
18.1.4 TECHNOLOGICAL
18.1.5 LEGAL
18.1.6 ENVIRONMENTAL
18.2 MARKET SIZE & FORECAST
18.3 PRODUCT
18.3.1 MARKET SIZE & FORECAST
18.4 CONFIGURATION
18.4.1 MARKET SIZE & FORECAST
18.5 END-USER
18.5.1 MARKET SIZE & FORECAST
18.6 KEY COUNTRIES
18.7 GERMANY: MARKET SIZE & FORECAST
18.8 FRANCE: MARKET SIZE & FORECAST
18.9 UK: MARKET SIZE & FORECAST
18.10 ITALY: MARKET SIZE & FORECAST
18.11 SPAIN: MARKET SIZE & FORECAST
19 NORTH AMERICA
19.1 PESTLE ANALYSIS
19.1.1 POLITICAL
19.1.2 ECONOMIC
19.1.3 SOCIAL
19.1.4 TECHNOLOGICAL
19.1.5 LEGAL
19.1.6 ENVIRONMENTAL
19.2 MARKET SIZE & FORECAST
19.3 PRODUCT
19.3.1 MARKET SIZE & FORECAST
19.4 CONFIGURATION
19.4.1 MARKET SIZE & FORECAST
19.5 END-USER
19.5.1 MARKET SIZE & FORECAST
19.6 KEY COUNTRIES
19.7 US: MARKET SIZE & FORECAST
19.8 CANADA: MARKET SIZE & FORECAST
20 LATIN AMERICA
20.1 PESTLE ANALYSIS
20.1.1 POLITICAL
20.1.2 ECONOMIC
20.1.3 SOCIAL
20.1.4 TECHNOLOGICAL
20.1.5 LEGAL
20.1.6 ENVIRONMENTAL
20.2 MARKET SIZE & FORECAST
20.3 PRODUCT
20.3.1 MARKET SIZE & FORECAST
20.4 CONFIGURATION
20.4.1 MARKET SIZE & FORECAST
20.5 END-USER
20.5.1 MARKET SIZE & FORECAST
20.6 KEY COUNTRIES
20.7 BRAZIL: MARKET SIZE & FORECAST
20.8 MEXICO: MARKET SIZE & FORECAST
20.9 ARGENTINA: MARKET SIZE & FORECAST
21 MIDDLE EAST & AFRICA
21.1 PESTLE ANALYSIS
21.1.1 POLITICAL
21.1.2 ECONOMIC
21.1.3 SOCIAL
21.1.4 TECHNOLOGICAL
21.1.5 LEGAL
21.1.6 ENVIRONMENTAL
21.2 MARKET SIZE & FORECAST
21.3 PRODUCT
21.3.1 MARKET SIZE & FORECAST
21.4 CONFIGURATION
21.4.1 MARKET SIZE & FORECAST
21.5 END-USER
21.5.1 MARKET SIZE & FORECAST
21.6 KEY COUNTRIES
21.7 SAUDI ARABIA MARKET SIZE & FORECAST
21.8 SOUTH AFRICA: MARKET SIZE & FORECAST
21.9 UAE: MARKET SIZE & FORECAST
22 COMPETITIVE LANDSCAPE
22.1 COMPETITION OVERVIEW
23 KEY COMPANY PROFILES
23.1 NANGAOCHI GROUP
23.1.1 BUSINESS OVERVIEW
23.1.2 PRODUCT OFFERINGS
23.1.3 KEY STRATEGIES
23.1.4 KEY STRENGTHS
23.1.5 KEY OPPORTUNITIES
23.2 BONFIGLIOLI
23.2.1 BUSINESS OVERVIEW
23.2.2 PRODUCT OFFERINGS
23.2.3 KEY STRATEGIES
23.2.4 KEY STRENGTHS
23.2.5 KEY OPPORTUNITIES
23.3 ZF
23.3.1 BUSINESS OVERVIEW
23.3.2 PRODUCT OFFERINGS
23.3.3 KEY STRATEGIES
23.3.4 KEY STRENGTHS
23.3.5 KEY OPPORTUNITIES
24 OTHER PROMINENT VENDORS
24.1 HANGZHOU ADVANCE GEARBOX GROUP CO., LTD
24.1.1 BUSINESS OVERVIEW
24.1.2 PRODUCT OFFERINGS
24.2 CHONGQING GEARBOX CO., LTD.
24.2.1 BUSINESS OVERVIEW
24.2.2 PRODUCT OFFERINGS
24.3 NINGBO DONLY CO., LTD.
24.3.1 BUSINESS OVERVIEW
24.3.2 PRODUCT OFFERINGS
24.4 NORD GROUP
24.4.1 BUSINESS OVERVIEW
24.4.2 PRODUCT OFFERINGS
24.5 CHONGQING WANGJIANG INDUSTRY CO., LTD
24.5.1 BUSINESS OVERVIEW
24.5.2 PRODUCT OFFERINGS
24.6 DALIAN HUARUI HEAVY INDUSTRY GROUP
24.6.1 BUSINESS OVERVIEW
24.6.2 PRODUCT OFFERINGS
24.7 SUMITOMO HEAVY INDUSTRIES
24.7.1 BUSINESS OVERVIEW
24.7.2 PRODUCT OFFERINGS
24.8 BAUER GEAR MOTOR
24.8.1 BUSINESS OVERVIEW
24.8.2 PRODUCT OFFERINGS
24.9 EMERSON ELECTRIC
24.9.1 BUSINESS OVERVIEW
24.9.2 PRODUCT OFFERINGS
24.10 ELECON ENGINEERING CO.LTD
24.10.1 BUSINESS OVERVIEW
24.10.2 PRODUCT OFFERINGS
24.11 DANA BREVINI POWER TRANSMISSION
24.11.1 BUSINESS OVERVIEW
24.11.2 PRODUCT OFFERINGS
24.12 JOHNSON ELECTRIC HOLDING LTD.
24.12.1 BUSINESS OVERVIEW
24.12.2 PRODUCT OFFERINGS
24.13 J.S. GEARS
24.13.1 BUSINESS OVERVIEW
24.13.2 PRODUCT OFFERINGS
24.14 FLENDER
24.14.1 BUSINESS OVERVIEW
24.14.2 PRODUCT OFFERINGS
24.15 COMER INDUSTRIES
24.15.1 BUSINESS OVERVIEW
24.15.2 PRODUCT OFFERINGS
24.16 CHINA HIGH-SPEED TRANSMISSION EQUIPMENT GROUP CO., LTD
24.16.1 BUSINESS OVERVIEW
24.16.2 PRODUCT OFFERINGS
24.17 THE TIMKEN COMPANY
24.17.1 BUSINESS OVERVIEW
24.17.2 PRODUCT OFFERINGS
24.18 RENK
24.18.1 BUSINESS OVERVIEW
24.18.2 PRODUCT OFFERINGS
24.19 SEW-EURODRIVE
24.19.1 BUSINESS OVERVIEW
24.19.2 PRODUCT OFFERINGS
25 REPORT SUMMARY
25.1 KEY TAKEAWAYS
25.2 STRATEGIC RECOMMENDATIONS
26 QUANTITATIVE SUMMARY
26.1 GEOGRAPHY
26.2 PRODUCT
26.3 CONFIGURATION
26.4 END-USER
27 APPENDIX
27.1 ABBREVIATIONS

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