China's Ascendance: The Driving Force Behind Global Industrial Gearbox Market Growth

Dublin, Oct. 12, 2023 (GLOBE NEWSWIRE) -- The "Industrial Gearbox - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global industrial gearbox market, valued at $46.6 billion in 2022, is expected to grow to $66.6 billion by 2030, at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030. The market analysis highlights several key trends and opportunities, including growth in the helical and planetary segments.

Market Trends and Opportunities

• Helical Segment Growth: The helical segment is expected to record a 4.7% CAGR, reaching $24.6 billion by 2030. Helical gears are known for their efficiency and reliability, making them a preferred choice in various industrial applications.
• Planetary Segment Expansion: The planetary segment is projected to grow at a CAGR of 5.3% over the next eight years. Planetary gearboxes offer high torque density and are suitable for applications that require precision and compact design.

Regional Insights

• U.S. Market: The industrial gearbox market in the U.S. is estimated at $9.4 billion in 2022.
• China's Growth: China, the world's second-largest economy, is forecast to reach a market size of $16.1 billion by 2030, with a CAGR of 6.1% during 2022-2030.
• Other Noteworthy Markets: Japan and Canada are expected to grow at 2.6% and 3%, respectively, over the same period. Germany, within Europe, is forecast to grow at approximately 3.6% CAGR.

Key Competitors

The industrial gearbox market is highly competitive, with 176 featured competitors. Some of the key players include:

• ABB Group
• Bauer Gear Motor GmbH
• Bondioli & Pavesi S.p.A.
• Bonfiglioli Italia S.p.A.
• China High-Speed Transmission Equipment Group Co., Ltd.
• Dana Brevini Power Transmission
• Elecon Engineering Company Limited
• Emerson Electric Company
• Esenpro Power Transmission Pvt Ltd.
• Flender International GmbH
• Getriebebau NORD GmbH & Co. KG
• Johnson Electric Holdings Limited
• Kngear
• Lenze SE
• Nidec Motor Corporation.
• Siemens AG
• Sumitomo Heavy Industries Gearbox Co., Ltd.
• The Timken Company
• ZOLLERN GmbH & Co. KG

Economic Outlook

The global economic outlook is showing signs of improvement, with growth recovery expected for the current year and the next. Various countries are tackling economic challenges, such as inflation, regulatory changes, and climate considerations. However, new technologies like AI, machine learning, renewables, and quantum technologies are poised to drive incremental growth and value to the global GDP in the coming years.

While uncertainties persist, businesses that demonstrate resilience and adaptability can seize opportunities in this evolving economic landscape.

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• Impact of Covid-19 and a Global Economic Update
• From Pandemic to War & Inflation: "Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions
• Here's How Inflationary Pressures Affect the Economy
• Russia-Ukraine War, the Primary Culprit Responsible for the Hardships
• Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
• Here's What's Causing Inflationary Pressures in the Global Market
• Shaken by the War, Global Oil Prices Spiral and Feed Inflationary Pressures, Guiding the World Towards a Cost of Living Crisis: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
• War-Induced Commodity Price Increases & Broad Based Price Pressures Mark the Return of Global Inflation to the Highest Level Seen Since 1996: Global Inflation Rates (In %) for the Years 2019 Through 2024
• Although Facing a Lower Recession Risk, Global Economic Growth in 2023 to Slowdown Amid War, Inflation, Elevated Interest Rates & Marginal Easing of Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
• Recession Triggered by Uncontrolled Inflation or Unemployment, Which is the Greater Evil? Inflation Battling Policy Measures to Slowdown Post Pandemic Recovery in Unemployment Rates: Global Number of Unemployed People (In Million) for Years 2019 Through 2024
• Impact of COVID-19 on Industrial Gearboxes Market
• Industrial Gearboxes: A Prelude
• Gearbox: Product Overview
• Working Mechanism of Gearboxes
• Types of Gearboxes
• Global Market Prospects and Outlook
• Helical Gearbox: The Largest Segment
• Parallel Axis Designs to Hold Major Share of Global Market
• Wind Power Segment to Make Significant Contribution
• Asia-Pacific: An Important Market
• Emerging Trends
• Market Outlook
• Market Challenges and Opportunities
• Resilient Outlook for the Manufacturing Industry Despite Slower Economic Environment to Sustain Growth in 2023
• Global Manufacturing Purchasing Managers' Index (PMI) for the Years 2018 through 2022
• Competition
• Industrial Gearbox - Global Key Competitors Percentage Market Share in 2023 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
• WORLD BRANDS
• Recent Market Activity

2. FOCUS ON SELECT KEY PLAYERS

3. MARKET TRENDS & DRIVERS

• Advances in Gearbox Designs Yield High-Performance and Durable Gearboxes
• Controlling Micropitting to Enhance Gearbox Performance
• Advances in Servo Motor Technology Spur Gearbox Innovations
• Steady Growth in Global Power Generation Activity Spurs Demand
• Opportunity Indicators
• 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
• High potential for Gearboxes in Renewable Energies and Mining
• Rise in Investments in the Wind Power Sector Drive Gains
• 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
• Turbine Makers Switch to Single-Stage Gearboxes to Minimize Gearbox Failure Risk
• Wind Gearbox Suppliers Upgrade to Larger Units due to Higher Reliability
• Industry 4.0 Redefines Manufacturing, Increasing Automation in Manufacturing Sector Drives the Need for Industrial Gearboxes
• Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
• Rapid Adoption of Automation Technologies in Material Handling Processes Fuels Industrial Gearboxes Market Growth
• Construction Machinery: An Important Market for Industrial Gearboxes
• Gearboxes Used in Construction Equipment
• Recovery in Construction Sector to Catalyze Demand
• Global Construction Spending (in US$ Trillion) for the Years 2020-2028
• World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
• Mining Sector: Another Important Market for Industrial Gearbox
• Planetary Gearboxes with Roller Chains Present Compelling Motion Control Platform
• Mechanization of Agriculture Spurs Demand
• Opportunity Indicators
• Loss of Arable Land Exerts Immense Pressure on Yields Per Acre: Global Availability of Arable Land as a % of Total Land Area & Hectares Per Person for the Years 1990, 2000, 2018 and 2020
• Backed by Government Funding & Support, Automation in Agriculture Gains Ground: Percentage Share (%) of Government Expenditure on Agriculture in Total Budgets by Region for the Years 2010, 2015, 2019 and 2021
• Shrinking Labor for Agriculture Raises the Red Flag Spurring Agriculture on the Road to Automation: Percentage (%) of Agricultural Workers in the Global Workforce for the Years 1992, 2019 & 2022
• Recovery in Automotive Industry Post COVID-19 to Steer Demand
• Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• World Automobile Production in Million Units: 2008-2022
• Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
• Gearbox in Power Transmission in Automobiles
• Green House Gas (GHG) Benefits of Select Transmission Technologies
• Automotive Industry Moves to Higher-Speed Gearboxes for Efficient Power Transmission
• Rise in EVs to Hamper Demand for Gearbox
• Global Electric Car Fleet Size (In Thousand Units) for the Years 2014, 2016, 2018, 2020 and 2022
• Gearboxes for the Future Cars
• Dealing with Gearbox Tradeoffs
• Use of Gearboxes in Cooling Tower Applications
• Growth in Food Processing Sector to Drive Gains
• Increasing Demand for Processed Foods and Processing Machinery Spurs Growth in Gearbox Market - Global Sales of Processed Foods in US$ Billion for the Years 2014, 2016, 2018 and 2020
• Helical Bevel gearboxes Offer Promise over Worm Gearbox
• Advancement in Industrial Gearbox Technology
• Robotics Applications Drive the Industrial Gearbox Market
• Mining Industry and Gearboxes
• Typical Mining Operation Challenges
• Surplus Gear Reducers Boost the Mining Industry
• Innovations in Gearboxes to Propel Market Demand
• Smart Manufacturing - Key Driver of Global Industrial Gearboxes Market Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

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