Industrial Gearbox Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 28.33 Billion |
| Market Size (2029) | USD 34.80 Billion |
| CAGR (2024 - 2029) | 4.20 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Industrial Gearbox Market Analysis
The Industrial Gearbox Market size is estimated at USD 28.33 billion in 2024, and is expected to reach USD 34.80 billion by 2029, growing at a CAGR of 4.20% during the forecast period (2024-2029).
The Industrial Gearbox Market size is expected to grow from USD 27.19 billion in 2023 to USD 33.40 billion by 2028, registering a CAGR of 4.20% during the forecast period.
- Over the medium term, factors such as the growing adoption of industrial automation across various industrial sectors, like manufacturing, steel, and food and beverages, are expected to drive the market during the forecast period.
- On the other hand, the slowdown in economic and industrial activities is expected to negatively impact the industrial gearbox market, thus restraining market growth.
- Nevertheless, soaring demand for energy-efficient gearboxes is expected to create immense opportunities for the global industrial gearbox market in the coming years.
Industrial Gearbox Market Trends
Helical Gearbox Type Segment to Dominate the Market
- In a helical gearbox, the teeth on a helical gear are cut at an angle to the face of the gear. When two teeth start to engage, the contact gradually begins at one end of the tooth and maintains contact as the gear rotates in full engagement. It offers the capacity to conduct a smooth operation and high thrust outputs. It is the most used gear in automobile transmissions, generating large amounts of thrust.
- Defining features of helical gearboxes include extremely high output torques, silent operation, and long service life. Helical Gearboxes are the most efficient gearboxes manufactured in the industry and work at 98% efficiency, after Planetary Gearboxes. Due to their high efficiency and high thrust generating capabilities, helical gearboxes are utilized in major industries, like fertilizer, automobiles, steel, rolling mills, power and port industries, and manufacturing sectors, such as textile, plastics, and food.
- Helical Gearbox is used in automobile transmissions in medium and heavy-duty industrial applications, as it can handle high speeds and loads. Modular design and construction offer many engineering and performance benefits, including a high degree of interchangeability of parts and sub-assemblies. This, in turn, provides considerable economies of production while maintaining the highest standard of component integrity.
- Further increasing automobile production is driving the demand for helical gears. According to the International Organization of Motor Vehicle Manufacturers, in 2022, around 85 million motor vehicles were produced worldwide. This represents a significant increase of more than 6% compared to the previous year.
- Therefore, based on the above factors, the helical gearbox type segment is expected to dominate the market during the forecast period.
Asia-Pacific to Dominate the Market
- The Asia-Pacific region accounted for a significant share of the industrial gearbox market in 2022, owing to the increasing demand for gearboxes in various applications like the manufacturing sector, power industry, etc. Countries such as India, China, Japan, Korea, and Australia, are the key contributing nations in the region.
- China has been an essential factor in the growth of the manufacturing sector worldwide. The country is the leader in the steel, chemical, power, and cement industries and is one of the top players in the petrochemical and refining industries.
- Moreover, China has been the biggest crude steel producer and exporter, accounting for more than half of global production. In 2022 the country's crude steel production was around 1017.959 million tonnes. China's One Belt One Road project to bridge the infrastructure gap in the region is expected to boost the steel demand.
- Furthermore, In March 2023, Aramco and NORINCO Group and Panjin Xincheng Industrial Group, joint venture partners, planned to begin construction of a significant integrated refinery and petrochemical complex in northeast China. Hence, with the expansion of refineries and petrochemical businesses and the upcoming coal-fired plants, the country is expected to witness an increase in industrial gearbox installations in the energy sector during the forecast period.
- Also, India was the world's fourth-largest onshore wind market by installations, with 41.93 GW of wind capacity as of 2022. The wind power market in the country has been growing by two fundamental drivers: rising energy demand and governmental targets. Also, India is presently trying to expand its green energy portfolio by harnessing the unexploited offshore wind energy potential. Hence, once the true potential is realized, the demand for industrial gearboxes in the wind power sector is expected to increase in the upcoming years.
- Similarly, Japan is one of the largest LNG importers worldwide, followed by China and South Korea. With the developed gas infrastructure and progression toward cleaner energy, the country is interested in developing the LNG infrastructure to enhance the global LNG demand. The gearbox is used in turbines fitted in LNG terminals, or the gearbox is installed in high-speed pump drives, propellor drives, or compressor drives in LNG processing terminals.
- Therefore, based on the above-mentioned factors, Asia-Pacific is expected to dominate the industrial gearbox market during the forecast period.
Industrial Gearbox Industry Overview
The industrial gearbox market is moderately consolidated. Some of the major players in market (not in particular order) include Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd, Lenze SE, Flender Ltd, Getriebebau NORD GmbH & Co. KG, and Bosch Rexroth AG., among others.
Industrial Gearbox Market Leaders
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Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd
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Lenze SE
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Flender Ltd
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Bosch Rexroth AG
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Getriebebau NORD GmbH & Co. KG
*Disclaimer: Major Players sorted in no particular order
Industrial Gearbox Market News
- May 2023: Triumph Group, Inc. announced that it had been awarded a long-term agreement from General Electric (GE) through its Geared Solutions business for LEAP-1A, LEAP-1B, and LEAP-1C programs. TRIUMPH has collaborated with GE on LEAP and CFM56 IGBs for over 35 years, shipping over 25,000 gearboxes till now. TRIUMPH will supply thousands of IGBs annually to GE into the next decade with this contract extension.
- January 2023: Airbus Helicopters announced the acquisition of a significant gearbox and component supplier for H145 and H135 programs to strengthen its transmission production and overhaul capabilities. Under the deal, Airbus purchased ZF Luftfahrttechnik from ZF Friedrichshafen for an undisclosed amount.
Industrial Gearbox Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD, till 2028
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Growing Adoption of Industrial Automation across Various Industrial Sectors
4.5.1.2 Rising Sales for Automobiles across the World
4.5.2 Restraints
4.5.2.1 Slow Down in Economic and Industrial Activities
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Worm Gearbox
5.1.2 Helical Gearbox
5.1.3 Bevel Helical Gearbox
5.1.4 Planetary Gearbox
5.1.5 Other Types
5.2 Application
5.2.1 Power Industry
5.2.2 Steel Industry
5.2.3 Mines and Minerals Industry
5.2.4 Wastewater Treatment Industry
5.2.5 Manufacturing Industry
5.2.6 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 France
5.3.2.3 United Kingdom
5.3.2.4 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 United Arab Emirates
5.3.5.3 South Africa
5.3.5.4 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd
6.3.2 Lenze SE
6.3.3 Flender Ltd.
6.3.4 Getriebebau NORD GmbH & Co. KG
6.3.5 Bosch Rexroth AG
6.3.6 Zollern GmbH & Co. KG
6.3.7 INGECO GEARS Pvt Ltd.
6.3.8 Sew-Eurodrive GmbH & Co KG
6.3.9 Essential Power Transmission Pvt Ltd.
6.3.10 Bonfiglioli Drives Co. Ltd.
6.3.11 Kngear
6.3.12 Elecon Engineering Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Soaring Demand for Energy Efficient Gearboxes
Industrial Gearbox Industry Segmentation
Industrial gearboxes are mechanical devices that are a necessary component of machinery benefited by various industries. An enclosed housing containing a series of shafts and gears transfers power between devices within a system. The purpose of gearboxes is to increase torque, lower the rotation speed of the prime mover output shaft and convert mechanical energy to a usable form.
The industrial gearbox market is segmented by type, application, and geography. The market is segmented by type into worm gearbox, helical gearbox, bevel helical gearbox, planetary gearbox, and others. By application, the market is segmented into power, steel, mines and minerals, wastewater treatment, manufacturing, and others. The report also covers the market size and forecasts for the industrial gearbox market across major regions. The market sizing and forecasts have been done for each segment based on revenue (USD).
| Type | |
| Worm Gearbox | |
| Helical Gearbox | |
| Bevel Helical Gearbox | |
| Planetary Gearbox | |
| Other Types |
| Application | |
| Power Industry | |
| Steel Industry | |
| Mines and Minerals Industry | |
| Wastewater Treatment Industry | |
| Manufacturing Industry | |
| Other Applications |
| Geography | |||||||
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Industrial Gearbox Market Research FAQs
How big is the Industrial Gearbox Market?
The Industrial Gearbox Market size is expected to reach USD 28.33 billion in 2024 and grow at a CAGR of 4.20% to reach USD 34.80 billion by 2029.
What is the current Industrial Gearbox Market size?
In 2024, the Industrial Gearbox Market size is expected to reach USD 28.33 billion.
Who are the key players in Industrial Gearbox Market?
Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd, Lenze SE, Flender Ltd, Bosch Rexroth AG and Getriebebau NORD GmbH & Co. KG are the major companies operating in the Industrial Gearbox Market.
Which is the fastest growing region in Industrial Gearbox Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Gearbox Market?
In 2024, the Asia Pacific accounts for the largest market share in Industrial Gearbox Market.
What are the regulatory factors influencing the Industrial Gearbox Market globally?
Regulatory factors such as emissions standards, noise regulations, and safety standards drive the adoption of efficient and compliant gearbox solutions in the Industrial Gearbox Market globally.
Industrial Gearboxes Industry Report
The industrial gearbox market is experiencing significant growth, driven by the increasing automation in key sectors such as automotive, food processing, and agriculture machinery. The market is segmented by type, design, and end-user industries, with notable segments including planetary, helical, bevel, and spur gearboxes. Planetary gearboxes are extensively used in applications like wind turbines and various manufacturing industries due to their operational efficiency.
The design segment is dominated by parallel and angular axis gearboxes, with parallel designs being prevalent for their simplicity and efficiency. Geographically, the Asia Pacific region leads due to its robust manufacturing base and significant investments in wind power and automation. North America is also seeing rapid growth from advancements in manufacturing technology and the presence of key market players.
The market growth is further supported by the rising demand for energy efficiency and the expansion of power generation and renewable energy sectors. The market size is expected to expand significantly, reflecting the increasing demand for more efficient and robust gearbox systems.
For detailed statistics on market share, size, and revenue growth rate, refer to 糖心vlog传媒鈩� Industry Reports, which include market forecasts, historical overviews, and free report PDF downloads. The industry analysis and industry outlook indicate a positive trend, supported by comprehensive industry research and market data. The market review and market segmentation provide a clear understanding of the market value and market predictions for the future.
