Dublin, July 05, 2023 (GLOBE NEWSWIRE) -- The "Gears, Drives and Speed Changers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Gears, Drives and Speed Changers estimated at US$143.4 Billion in the year 2022, is projected to reach a revised size of US$218.6 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030.
Automotive, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$159.9 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Industrial segment is readjusted to a revised 5.8% CAGR for the next 8-year period.
The U.S. Market is Estimated at $27.5 Billion, While China is Forecast to Grow at 6.3% CAGR
The Gears, Drives and Speed Changers market in the U.S. is estimated at US$27.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$45.9 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$33.6 Billion by the year 2030.
Select Competitors (Total 339 Featured) -
- ABB Ltd.
- Bharat Gears Ltd.
- Bonfiglioli Riduttori S.P.A.
- BorgWarner, Inc.
- Bosch Rexroth AG
- Cone Drive
- Danfoss Group
- David Brown Santasalo
- Eaton Corporation Plc
- Emerson Electric Co.
- FLSmidth MAAG Gear AG
- Horsburgh & Scott
- Kanzaki Kokyukoki Manufacturing Co. Ltd.
- NSK Ltd.
- Rexnord Corp.
- Schneider Electric
- SEW Eurodrive
- Siemens AG
- Sumitomo Drive Technologies
- Twin Disc, Inc.
- ZF Friedrichshafen AG
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 766 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $143.4 Billion |
| Forecasted Market Value (USD) by 2030 | $218.6 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
- Progress on Vaccinations: Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish about an Economic Comeback Despite a Continuing Pandemic
- A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
- Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
- Industrial Activity Remains Subdued in 2020 with Strong Hopes of Long Term Recovery
- Global PMI Index Points for the Years 2018, 2019 & 2020
- An Introductory Prelude
- Automotive Industry - A Bellwether of Market Prospects
- Developing Countries Continue to be Growth Engines
- Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
- Global Machine Tools Market (2020E): Percentage Breakdown of Dollar Sales by Region
- Market Outlook
- Improving US Economy Augurs Well for the Market
- Cyclical Upturn Encourages Positive Manufacturing Outlook in Asia-Pacific
- Off-Shoring of Manufacturing Activity Boosts Demand in Developing Countries
- Competitive Scenario
- Recent Market Activity
- Select Global Brands
- Gears, Drives and Speed Changers - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- An Outlook for Global Gear Technology Market
- Pandemic-Induced Changes in Manufacturing Industries Create New Demand Patterns for Gear Products
- Growth in Automobiles Production to Spur Market Demand
- World Automobile Production in Million Units: 2008-2022
- How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
- Car Production YoY % Growth in 2020 Across Major Regional Markets
- Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
- Gears - Vital Component of Automotive Systems
- Key Trends in Automotive Gearbox Market
- Growing Popularity of Steer-by-Wire Technology Drives Future Demand for Power Steering Gears
- Rising Average Vehicle Life Drive Demand for Aftermarket Gears and Drives
- Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
- Average Age of Cars in the EU (2022E): Breakdown by Select Country
- Industrial Gearboxes Market - An Overview
- Asia-Pacific Leads the Industrial Gearboxes and Gear Motors Market
- Internal Drive Trains in Mountain Bikes and E-Bikes: Advantages and Disadvantages
- Aerospace Sector Augurs Well for Long Term Growth
- Global Aircraft Fleet (in Units) by Geographic Region/Country for the Years 2017 and 2035P
- Aircraft Power Transmission Equipment Market (2022E): Percentage Share Breakdown of Shipments by End-Use Application - Civil Aircrafts and Military Aircrafts
- Pandemic Causes Panic in the Aerospace Sector
- COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020E
- Anticipated Surge in Air Traffic to Drive Growth in Aircraft Landing Gear Market
- Landing Gears Market for Commercial Aircrafts to Witness Surge Due to Expected increase in Passenger Numbers
- Heavy Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
- Need for High Quality Gears for Uninterrupted Production Process to Drive Gears Demand
- Recovery in Oil and Gas Sector to Support Demand for Gear and Drives
- Global Oil Reserves: Percentage Breakdown of Volume Reserves by Geographic Region
- The Present Scenario
- Global CAPEX for Upstream Oil and Gas: 2019-2021
- Global Brent Crude Oil Price Trends in US$/barrel: Oct 2019 -May 2021
- Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2021
- Steady Growth in Global Power Generation Activity to Spur Demand
- Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
- Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Global Energy Mix: 1990 Vs 2020
- Growing Focus on Exploiting Wind Energy Spurs Growth in Wind Turbine Gear Market
- Increase in Offshore Wind Installations Presents New Opportunities for Industrial Gearbox: Global Offshore Wind Net Capacity Additions (In GW) for The Years 2018-2022
- Global Investment Outlook (In US$ Billion) in Offshore Wind Energy by Select Country between 2019 and 2040
- Global Renewable Energy Breakdown by Type: 2010 Vs 2030
- Gears Used in Nuclear Power Plants to Witness Growth
- Robust Demand for Construction Equipment to Offer Growth Opportunities
- Global Construction Equipment Market: Annual Sales (in US$ Billion) for the Years 2010, 2014, 2018E & 2022P
- Growing Demand for Mining Equipment Boosts Growth in Gear & Gearbox Market
- Global Mining Equipment Market: Annual Revenue (in US$ Billion) for the Years 2016, 2018 & 2020E
- Mechanization of Agriculture Spurs Growth
- Growing Impact of Technology
- Powder Metallurgy Makes Headway in Automotive Transmission Parts Production
- CAD Furthers Gear Design
- A Segmental Overview
- Gears
- Types of Gears
- Global Gears Market (2021E): Percentage Breakdown of Demand by End-Use Segment
- The Evolution of Industrial Gears
- Plant Automation and Electromechanical Machinery Driving Gears Demand
- Gear Assemblies Find Increasing Demand
- Automatic Transmission Systems Gain Prominence - Drive Demand for Planetary Gears in Automotive Market
- Commercial Aircraft Landing Gears Gain Rapid Acceptance
- CVT: A Long Term Threat to Gear Market?
- Wide Scale Applicability Ensures Secure Future
- Drives
- Mechanical Drives Continues to Lose Share to Electric and Hydraulic Drives
- Advantages Offered by Electric Drive Technology Propel its Adoption in Hoists, Cranes and Elevators
- Technological Innovations Power Replacement Market for Electric Drives
- Global AC Drives Market Overview
- World Market for AC Drives by Type (2021E): Percentage Share Breakdown for Less than 40kw AC Drives, 40-200kw AC Drives, and More than 200kw AC Drives
- Direct Torque Control: New Technological Development in AC Drives
- World Market for AC Drives by Region (2021E): Percentage Breakdown of Value Sales for Asia-Pacific, Europe, and North & South America
- Hydraulic Drives Too Grow in Popularity
- Variable Frequency Drives Continue to Witness Growth
- Speed Changers
- World Market for Speed Reducers & Changers (2021E): Percentage Breakdown* of Revenues by Type
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/i5avmp
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