Industrial Gearbox Market: Current Analysis and Forecast (2022-2030)

Report Description

Global Industrial Gearbox Market was valued at USD 1000 million in 2021 and is expected to grow at a CAGR of 4.0% from 2022-2030. 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.

Industrial Gearbox Market Report Coverage

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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Research Methodology

Research Methodology for the Industrial Gearbox Market Analysis (2022-2030)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global industrial gearbox market were the three major steps undertaken to create and analyze the adoption of industrial gearbox in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global industrial gearbox market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the industrial gearbox market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the industrial gearbox market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, design, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the industrial gearbox market. Further, we conducted factor analysis using dependent and independent variables such as various types, design, and end-user of industrial gearboxes. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the industrial gearbox market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global industrial gearbox market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the industrial gearbox market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global industrial gearbox market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Primary research input was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global industrial gearbox market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, design, and end-user in the global industrial gearbox market.

The main objective of the Global Industrial Gearbox Market Study

The current & future market trends of the global industrial gearbox market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the industrial gearbox market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of type, design, and end-user.
• Define and analysis of the regulatory framework for the industrial gearbox
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the industrial gearbox market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the industrial gearbox market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team