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Global Industrial Gearbox Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

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  • 248 Pages
  • March 2023
  • Region: Global
  • Blackridge Research & Consulting
  • ID: 5796395
A gearbox is a mechanical device used to alter speed and torque between a driving device like a motor and a load. Industrial gearboxes are used for many applications, including machine tools, conveyors, industrial equipment, and any rotary transfer power transmission application that needs changes to torque and speed requirements.

Types of Gearbox in Industries

  • Helical Gearbox: This equipment is used for a wide range of industrial applications, but typically in heavy-duty operations. The helical gearbox is used extensively in the construction of plastics, cement, rubber, and other heavy industrial settings. It is used in crushers, extruders, coolers, and conveyors, which are all low-power applications
  • Bevel Helical Gearbox: The bevel helical gearbox is used to provide rotary motions between non-parallel shafts. They are typically used in quarries, in the mining industry, and in conveyors. The crucial feature of this type is a curved set of teeth located on the cone-shaped surface close to the rim of the unit
  • Worm Gearbox: Worm reduction gearboxes are used to drive heavy-duty operations. The rotating motion of the worm causes the wheel to move similarly due to the screw-like movement. Most of these are used in heavy industries such as fertilizers, chemicals, and minerals
  • Planetary Gearbox: The planetary gearbox is ideal for its endurance, accuracy, and distinct functionality and is notable for its precision applications. These are used in auger drilling equipment, 3d printing, robotics, etc

Industrial Gearbox Market Drivers

Rising automation in the manufacturing industry

The manufacturing sector is facing an unskilled and skilled labour crisis that is expected to continue long into the future. For instance, the manufacturing skills gap in the U.S. alone could see as many as 2.1 million jobs remaining unfilled by 2030 at the cost of USD 1 trillion to the national economy.

Several industry sectors - especially manufacturing, healthcare and pharmaceutical, engineering, construction, and real estate - are finding it increasingly challenging to source labour. The current shortage of labour across different industries is 15-25%, and the gap may widen depending course of the COVID-19 pandemic.

This global manufacturing labour shortage, has caused many organizations to accelerate investment in automation technologies to help boost the performance of their existing staff.

Manufacturers are facing increasing demand for their products due to the booming e-commerce sector. and on top of this, customers’ demands are dynamic. The notable trend towards ever-increasing customization of the final product, is also one the major drivers for flexible automation that is easy and quick to reprogram and redeploy.

Rapid technological advancements have changed the way many industries function. The manufacturing industry is now in the midst of significant transformation regarding the way goods are produced. This transition is being referred to as industry 4.0 to represent the fourth industrial revolution which will use computers and automation and enhance it with smart and autonomous systems fuelled by data and machine learning.

To take the lead in industry 4.0, governments across the world are introducing national initiatives to drive their nations forward. For instance, programmes such as made in China 2025 and America Makes have chalked plans to promote manufacturing industrial automation.

Manufacturing production in developing and emerging industrial economies (excluding China) registered an annual increase of 4.3 per cent in the same quarter, following a growth rate of 7 per cent in the third and of nearly 30 per cent in the second quarter of 2021. Industrialized Economies (IE) reported a growth rate of 3.2 per cent in a year-over-year comparison, while China’s output rose by 3.1 per cent. At the country level, the trajectory of manufacturing production varied strongly, although the majority of observed economies registered moderate annual growth rates.

With the surge in automation of industrial manufacturing, the demand for industrial gearboxes is expected to be robust.

Increasing industrialisation is one of the other factors driving the industrial gearbox market.

Regional Analysis

American manufacturers contribute more than USD 2.35 trillion to the U.S. economy. Every dollar spent on manufacturing results in an additional USD 2.79 added to the economy. The sector as a whole is advancing into the fourth industrial revolution. According to Manufacturing Institute, nearly half of the manufacturers surveyed reported that they are in the early stages of a smart factory transition, and 73% of the manufacturers are planning to increase their investment in smart factory technology.

Many European countries have developed their Industry 4.0 strategies in addition to the European Commission’s efforts to target location-specific issues. For instance, The UK’s industrial policy involved a £725 million investment to foster innovation. According to the Made Smarter report, commissioned by the British Government, the manufacturing sector could unlock £455 billion in the next decade.

Concerns over China’s rapidly ageing society, the pandemic-led manufacturing export boom, and a desire of manufacturers to save money have all resulted in more industrial workers being replaced with machines. Trade contentions with Western countries have also given Chinese authorities further impetus to push for the use of more domestically manufactured components during the process of upgrading automated production lines across the country.

India’s manufacturing industry is already moving towards industry 4.0, and areas such as automation and robotics are receiving required interest from the industry players. As per Cushman & Wakefield’s Global Manufacturing Risk Index 2021, India emerged as the world’s second-most attractive manufacturing hub.

In Budget 2022-23, the Indian government allocated Rs. 2,403 crore (USD 315 million) for Promotion of Electronics and IT Hardware Manufacturing.

COVID-19 Impact on Industrial Gearbox Market

COVID-19 pandemic has had a significant impact on global manufacturing, and predicting the recovery of the sector relies on the ability to control the spread of the virus in key manufacturing locations. As business conditions continue to improve and with vaccinations underway, economic growth forecasts are generally being revised upwards.

The effects of the pandemic on China were already visible during the first quarter of 2020, but the country’s manufacturing sector successfully return to its pre-crisis production level in the second half of 2020 and is now more than 10 per cent above the level reported before the onset of the pandemic. Other developing and emerging industrial economies, as well as industrialized economies, exceeded their pre-pandemic levels in early 2021.

However, in the light of the pandemic’s unpredictable future trends, the uncertain financial developments in many economies, the ongoing supply chain bottlenecks as well as the escalation of the armed conflict in Ukraine, the manufacturing sector’s economic outlook remains precarious, with marked regional disparities.

The new report from the publisher on Global Industrial Gearbox Market comprehensively analyses the Industrial Gearbox Market and provides deep insight into the current and future state of the industry.

The study examines the drivers, restraints, and regional trends influencing Global Industrial Gearbox Market demand and growth.

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Industrial Gearbox Market, important commercial developments, trends, regions, and segments poised for fastest growth, competitive landscape, and market share of key players.

Further, the report will also provide the Industrial Gearbox Market size, demand forecast, and growth rates.

What is covered in the report?

Industrial Gearbox Market Drivers & Restraints

The study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium, and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Industrial Gearbox Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations.

This section provides an assessment of COVID-19 impact on Industrial Gearbox Market demand.

Industrial Gearbox Market Size and Demand Forecast

The report provides Global Industrial Gearbox Market size and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.

Industrial Gearbox Market Industry Analysis

The report examines the critical elements of Industrial Gearbox industry supply chain, its structure, and participants

Using Porter's five forces framework, the report covers the assessment of the Industrial Gearbox industry's state of competition and profitability.

Industrial Gearbox Market Segmentation & Forecast

The report dissects the Global Industrial Gearbox Market into various segments. A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.

Further, market size and demand forecasts will be presented, along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth. Contact us for a bespoke market segmentation to better align the research report with your requirements.

Regional Market Analysis

The report covers detailed profiles of major countries across the world. Each country's analysis covers the current market scenario, market drivers, government policies & regulations, and market outlook.

In addition, market size, demand forecast, and growth rates will be provided for all regions.

Following are the notable countries covered under each region.

North America - United States, Canada, Mexico, and Rest of North America
Europe - Germany, France, United Kingdom (UK), Russia, and Rest of Europe
Asia-Pacific - China, India, Japan, South Korea, Australia, Rest of APAC
Rest of the world - Saudi Arabia, Brazil, Nigeria, South Africa, and other countries

Key Company Profiles

This report presents detailed profiles of Key companies in the Industrial Gearbox industry, such as SEW, Sumitomo Heavy Industries Ltd, Elecon Engineering Co Ltd etc. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.

This product will be delivered within 5-7 business days.

Table of Contents

1. Executive Summary2. Research Scope and Methodology
3. Market Analysis
3.1 Introduction
3.2 Market Dynamics
3.2.1. Drivers
3.2.2 Restraints
3.3 Market Trends & Developments
3.4 Market Opportunities
3.5 Market Size and Forecast
4. Industry Analysis
4.1 Supply Chain Analysis
4.2 Porter's Five Forces Analysis
5. Market Segmentation & Forecast
5.1 By End-Use Sector
5.1.1 Material Handling
5.1.2 Food & Beverages
5.1.3 Mining
5.1.4 Oil & Gas
5.1.5 Cement & Aggregates
5.1.6 Others
5.2 By Type
5.2.1 Helical
5.2.2 Bevel Helical
5.2.3 Worm
5.2.4 Planetary
5.2.3 Others
6. Regional Market Analysis
6.1 North America
6.2 Europe
6.3 Asia-Pacific
6.4 Rest of the World
7. Key Company Profiles
7.2 Sumitomo Heavy Industries Ltd.
7.3 Flender AG
7.4 Elecon Engineering Company Ltd.
7.5 Lenze SE
7.6 Bonfiglioli Transmissions PVt. Ltd.
7.7 Altra Industrial Motion Corp.
7.8 NORD Drivesystems PVt. Ltd.
7.9 DANA Inc.
7.10 Other Notable Players
8. Competitive Landscape
8.1 List of Notable Players in the Market
8.2 M&A, JV, and Agreements
8.3 Market Share Analysis
8.4 Strategies of Key Players
9. Conclusions and RecommendationsList of Tables & FiguresAbbreviationsAdditional NotesDisclaimer