Demand for energy-efficient gearboxes along with increasing automation in manufacturing industries has Propelled the Growth of the Industrial Gearbox Market in the APAC Region!
- Himanshu Patni
- July 13, 2023
- ENERGY & POWER, NEWS
- Industrial Gearbox Market, Industrial Gearbox Market Growth, Industrial Gearbox Market Share, Industrial Gearbox Market Size
- 0 Comments
With a large and growing population, the demand for infrastructure, power generation, and transportation is increasing in the region which is further driving the demand for industrial gearboxes. The APAC region is home to many of the world’s fastest-growing economies, such as China and India, which are experiencing significant industrial growth. As these countries continue to invest in industries such as manufacturing, energy, and construction, the demand for industrial gearboxes market is expected to increase. Additionally, the growing focus on automation and robotics, as many businesses adopt automation and robotics technologies to increase efficiency and productivity. Thus, increasing the demand for industrial gearboxes in the region. Furthermore, the APAC region consists of the largest number of manufacturing industries, such as automotive, aerospace, and electronics, which require industrial gearboxes for their operations. As these industries continue to grow and evolve, the demand for industrial gearboxes will continue to increase.
Access sample report (including graphs, charts, and figures): https://univdatos.com/get-a-free-sample-form-php/?product_id=37678
Further, the APAC Industrial Gearbox Market is expected to grow at a steady CAGR of 4% during the forecast period (2022-2030). 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.
For a detailed analysis of the Global Industrial Gearbox Market browse through- https://univdatos.com/report/industrial-gearbox-market/
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.
Based on end-user, the industrial gearbox market has been classified into construction & mining equipment, automotive, chemicals, manufacturing industry, power generation, material handling, food & beverages, and agriculture. The power generation segment is expected to grow with a significant CAGR during the forecast period. This is mainly due to the rising importance of gearboxes in enabling energy-efficient and reliable operation in the heavy machinery industry. The major demand from the wind industry is that industry relies on industrial gearboxes to convert the low rotational speed of the turbine blades into that high-speed rotation to generate electricity. Additionally, with the global focus on renewable energy, the power generation industry is expected to rise in the growing time.
Global Industrial Gearbox Market Segmentation
Market Insight, by Type
· Planetary
· Helical
· Bevel
· Spur
· Worm
· Other
Market Insights, by Design
· Parallel Axis
· Angled Axis
· Other
Market Insights, by End-User
· Construction & Mining Equipment
· Automotive
· Chemicals
· Manufacturing Industry
· Power Generation
· Material Handling
· Food & Beverages
· Agriculture
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe
· APAC
o China
o India
o Japan
o Rest of APAC
· Rest of the World
Top Company Profiles
· 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