Dublin, April 12, 2023 (GLOBE NEWSWIRE) -- The "Industrial Gearbox Global Market Opportunities And Strategies To 2032" report has been added to ResearchAndMarkets.com's offering.
The global industrial gearbox market reached a value of nearly $28,484.0 million in 2022, having grown at a compound annual growth rate (CAGR) of 1.7% since 2017. The market is expected to grow from $28,484.0 million in 2022 to $36,909.6 million in 2027 at a rate of 5.3%.
The market is then expected to grow at a CAGR of 6.1% from 2027 and reach $49,555.4 million in 2032.
Growth in the historic period resulted from growth in the manufacturing industry, strong economic growth in emerging markets and a growing demand for electric vehicles.
Going forward, the rising adoption of industrial automation, rising urbanization and an increasing adoption of in-built robots will drive the growth. Factors that could hinder the growth of the industrial gearbox market in the future include restrictions on sales of petrol and diesel vehicles and the Russia-Ukraine war impact.
The industrial gearbox market is segmented by type into planetary, helical, bevel, spur, worm and other types. The helical market was the largest segment of the industrial gearbox market segmented by type accounting for 31.8% of the total in 2022. Going forward, the planetary market is expected to be the fastest growing segment in the industrial gearbox market segmented by type, at a CAGR of 5.59% during 2022-2027.
The industrial gearbox market is segmented by design into parallel axis, angled axis and other designs. The parallel axis market was the largest segment of the industrial gearbox market segmented by design accounting for 70.1% of the total in 2022. Going forward, the angled axis market is expected to be the fastest growing segment in the industrial gearbox market segmented by design, at a CAGR of 5.40% during 2022-2027.
The industrial gearbox market is segmented by application into construction & mining, automotive, industrial, power generation, marine and other applications. The industrial market was the largest segment of the industrial gearbox market segmented by application accounting for 27.1% of the total in 2022. Going forward, the industrial market is expected to be the fastest growing segment in the industrial gearbox market segmented by application, at a CAGR of 5.58% during 2022-2027.
Asia-Pacific was the largest region in the industrial gearbox market, accounting for 41.5% of the total in 2022. It was followed by Western Europe, and then the other regions. Going forward, the fastest-growing regions in the industrial gearbox market will be North America and Asia-Pacific where growth will be at CAGRs of 5.7% and 5.6% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 5.3% and 4.3% respectively.
The global industrial gearbox market is highly fragmented, with a large number of players. The top ten competitors in the market made up to 9.50% of the total market in 2021. This can be due to the existence of a number of local players in the market serving customers in particular geographies. Bosch Rexroth AG was the largest competitor with a 2.67% share of the market, followed by Flender GmbH with 1.41%, Dana Incorporated with 1.33%, China High-Speed Transmission Equipment Group Co., Ltd with 1.08%, Bonfiglioli Riduttori SPA with 0.70%, Getriebebau NORD GmbH & Co. KG with 0.70%, Sumitomo Heavy Industries Co., Ltd. with 0.54%, Lenze SE with 0.40%, Elecon Engineering Company Limited with 0.37% and Sew-Eurodrive with 0.31%.
The top opportunities in the industrial gearbox market segmented by type will arise in the helical segment, which will gain $2,756.1 million of global annual sales by 2027. The top opportunities in segment by design will arise in the parallel axis segment, which will gain $5,927.9 million of global annual sales by 2027. The top opportunities in segment by application will arise in the industrial segment, which will gain $2,409.2 million of global annual sales by 2027. The industrial gearbox market size will gain the most in China at $2,111.5 million.
The report covers the following chapters
- Introduction and Market Characteristics
Brief introduction to the segmentations covered in the market, definitions, and explanations about the industrial gearbox market.
- Key Trends
Highlights the major trends shaping the global industrial gearbox market. This section also highlights likely future developments in the market.
- Global Market Size and Growth
Global historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional Analysis
Historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values and growth and market share comparison by region.
- Market Segmentation
Contains the market values (2017-2032) and analysis for each segment by type, by design and by application in the market.
- Regional Market Size and Growth
Regional market size (2022), historic (2017-2022) and forecast (2022-2027), and (2027-2032) market values, and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape
Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers and Acquisitions
Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies
This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations
This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for industrial gearbox in terms of product/service offerings, geographic expansion, marketing strategies and target group.
- Appendix
This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
1) By Type: Planetary; Helical; Bevel; Spur; Worm; Other Types
2) By Design: Parallel Axis; Angled Axis; Other Designs
3) By Application: Construction & Mining; Automotive; Industrial; Power Generation; Marine; Other Applications
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 289 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $28484 Million |
| Forecasted Market Value (USD) by 2031 | $49555.4 Million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- Bosch Rexroth AG
- Flender GmbH
- Dana Incorporated
- China High-Speed Transmission Equipment Group Co., Ltd
- Bonfiglioli Riduttori SPA
For more information about this report visit https://www.researchandmarkets.com/r/h3nyp1
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