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Industrial Gearbox - Global Market Trajectory & Analytics

  • ID: 4805819
  • Report
  • February 2022
  • Region: Global
  • 657 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Group
  • Bondioli & Pavesi S.p.A.
  • Bonfiglioli Italia S.p.A.
  • Emerson Electric Company
  • Siemens AG
  • The Timken Company

Global Industrial Gearbox Market to Reach $49.2 Billion by 2026


Gears and gearboxes are important manufacturing parts and components, critical to production of a range of machinery and equipment. Industrial gearboxes are enclosed systems intended to transmit mechanical power or energy to dedicated output devices. These gearboxes transfer energy between process units, machinery and automation systems, and can adjust attributes like speed and torque for converting energy into useable formats. The market for industrial gearbox is driven by increasing adoption of automation across varied industries and applications. While gears and gearboxes help in increasing or decreasing speed, transmitting power or changing the direction or position of a rotating axis, gear drives are mechanical devices used to alter the speed, torque and direction of rotating shafts. These mechanical transmission systems help in manufacture of a range of products right from heavy industrial machinery to automobiles. As a key enabler of industrial revolution and as indispensable tools designed to manufacture several automotive and industrial products, gears, drives, and speed changers wield a major impact on productivity in the manufacturing industry.

Amid the COVID-19 crisis, the global market for Industrial Gearbox estimated at US$38.4 Billion in the year 2020, is projected to reach a revised size of US$49.2 Billion by 2026, growing at a CAGR of 4.2% over the analysis period. Helical, one of the segments analyzed in the report, is projected to grow at a 4.3% CAGR to reach US$18.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Planetary segment is readjusted to a revised 4.9% CAGR for the next 7-year period. This segment currently accounts for a 29.6% share of the global Industrial Gearbox market.



The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $11.2 Billion by 2026


The Industrial Gearbox market in the U.S. is estimated at US$8.1 Billion in the year 2021. The country currently accounts for a 20.79% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$11.2 Billion in the year 2026 trailing a CAGR of 5.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.3% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR while Rest of European market (as defined in the study) will reach US$11.9 Billion by the end of the analysis period.

Over the long-term, industrial gearbox market is expected to be driven by various factors including technological developments, increasing focus towards generating renewable power, increasing industrial automation within manufacturing industries including automobile, agriculture machinery and food processing. The need for automation is growing in prominence across various regions due to increasing labour costs along with manufacturing overcapacity. The market is expected to register considerable gains due to increasing adoption of in-built robots with high sophistication. The automotive sector is expected to contribute significantly for the market growth due to its continuous evolution in various regions, especially across emerging economies such as Japan, China, and India. Moreover, the market is benefitting from increasing investment in renewable power generation, especially wind power, for addressing increasing energy needs and reducing reliance of fossil fuel-based power.

Bevel Segment to Reach $5.2 Billion by 2026


In the global Bevel segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3 Billion in the year 2020 will reach a projected size of US$3.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$881.1 Million by the year 2026, while Latin America will expand at a 4.7% CAGR through the analysis period.

Select Competitors (Total 125 Featured) -

  • ABB Group
  • Bondioli & Pavesi S.p.A.
  • Bonfiglioli Italia S.p.A.
  • China High Speed Transmission Equipment Group Co., Ltd.
  • Elecon Engineering Company Limited
  • Emerson Electric Company
  • Johnson Electric Holdings Limited
  • Siemens AG
  • Sumitomo Heavy Industries Gearbox Co., Ltd.
  • The Timken Company
Frequently Asked Questions about the Global Market for Industrial Gearbox

What is the estimated value of the Global Market for Industrial Gearbox?

The Global Market for Industrial Gearbox was estimated to be valued at $38.4 Billion in 2020.

What is the growth rate of the Global Market for Industrial Gearbox?

The growth rate of the Global Market for Industrial Gearbox is 4.2%, with an estimated value of $49.2 Billion by 2026.

What is the forecasted size of the Global Market for Industrial Gearbox?

The Global Market for Industrial Gearbox is estimated to be worth $49.2 Billion by 2026.

Who are the key companies in the Global Market for Industrial Gearbox?

Key companies in the Global Market for Industrial Gearbox include ABB Group, Bondioli & Pavesi S.p.A., Bonfiglioli Italia S.p.A., China High Speed Transmission Equipment Group Co., Ltd., Elecon Engineering Company Limited, Emerson Electric Company, Johnson Electric Holdings Limited, Siemens AG and The Timken Company.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • ABB Group
  • Bondioli & Pavesi S.p.A.
  • Bonfiglioli Italia S.p.A.
  • Emerson Electric Company
  • Siemens AG
  • The Timken Company

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019 to 2022
  • Performance Snapshot of Major End-Use Markets for Industrial Gearboxes
  • Automotive Sector
  • Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
  • Construction Sector
  • Global Construction Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2021
  • Wind Power Sector
  • Mining Sector
  • Mining Sector Revenue Estimates and Forecasts in US$ Billion: 2019-2021
  • Industrial Gearboxes: A Prelude
  • Gearbox: Product Overview
  • Working Mechanism of Gearboxes
  • Types of Gearboxes
  • Current and Future Analysis
  • 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
  • Manufacturing PMI: An Important Bellwether
  • Global Manufacturing Purchasing Managers' Index (PMI) for the Years 2018 through 2020
  • Global Manufacturing Purchasing Managers' Index (PMI) for Jan 2019 to November 2020
  • Favourable Outlook for Heavy Equipment Industry in 2021 Promise Opportunities
  • Industrial Gearbox – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Competition
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

  • ABB Group (Switzerland)
  • China High Speed Transmission Equipment Group (China
  • Elecon Engineering Company Limited (India)
  • Emerson Electric Company (USA)
  • Johnson Electric Holdings Limited (China)
  • Siemens AG (Germany)
  • Sumitomo Heavy Industries Limited (Japan)
  • Bondioli & Pavesi (Italy)
  • Bonfiglioli Italia SPA (Italy)
  • The Timken Company (USA)

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
  • 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
  • Wind Turbine Manufacturers Hopeful of Recovery Post COVID-19-Related Disruption
  • 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
  • COVID-19 crisis Catalyzes Automation
  • Construction Machinery: An Important Market for Industrial Gearboxes
  • Gearboxes Used in Construction Equipment
  • Recovery in Construction Sector to Catalyze Demand
  • Projected Increase in Construction Investments Favors Market: World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
  • 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
  • World Automobile Production in Million Units: 2008-2022
  • 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
  • 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

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Wind Energy Displays Strong Growth Prospects
  • US Cumulative Installed Wind Power capacity (in GW): 2015-2020e
  • US Wind Energy Projects in Next 10 Years
  • Material Handling Equipment Market and Growth Opportunities

CANADA

JAPAN

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • Automation of Manufacturing Sector to Drive Growth
  • Material Handling Equipment Market to Register Strong Growth
  • Progress in Wind Power Investments Augurs Well for Gearbox Demand

EUROPE

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Overview
  • Material Handling Market in Europe
  • Europe Wind Energy Sector
  • Gross Annual Offshore Wind Power Capacity Installation by Country (in MW): 2020

FRANCE

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Industrial Gearbox Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 125
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • ABB Group
  • Bondioli & Pavesi S.p.A.
  • Bonfiglioli Italia S.p.A.
  • China High Speed Transmission Equipment Group Co., Ltd.
  • Elecon Engineering Company Limited
  • Emerson Electric Company
  • Johnson Electric Holdings Limited
  • Siemens AG
  • Sumitomo Heavy Industries Gearbox Co., Ltd.
  • The Timken Company
Note: Product cover images may vary from those shown