The global gear manufacturing market size reached US$ 75.4 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 108.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.10% during 2023-2028. The bolstering growth of the automotive industry, the increasing demand for industrial high-performance gears, the extensive production application in medium and heavy-duty vehicles, and the shifting preference for renewable energy resources represent some of the key factors driving the market.
A gear is a wheel with inserted teeth that transfers motion and power between machine components. It is crucial in various industrial applications to transmit torque and speed, enable smooth power transmission, and achieve the desired speed and precise movement. The gear manufacturing process involves designing and engineering, which includes gear specifications, such as tooth profile, module, pitch diameter, and gear ratio. After the design is finalized, gears can be produced through numerous methods, including hobbing, shaping, milling, and grinding. Finally, they undergo various finishing processes, such as heat treatment, to enhance their strength and durability. This is followed by gear inspection, including gear rolling tests, backlash measurements, and tooth contact pattern analysis to ensure dimensional accuracy and proper tooth profile.
A gear is a wheel with inserted teeth that transfers motion and power between machine components. It is crucial in various industrial applications to transmit torque and speed, enable smooth power transmission, and achieve the desired speed and precise movement. The gear manufacturing process involves designing and engineering, which includes gear specifications, such as tooth profile, module, pitch diameter, and gear ratio. After the design is finalized, gears can be produced through numerous methods, including hobbing, shaping, milling, and grinding. Finally, they undergo various finishing processes, such as heat treatment, to enhance their strength and durability. This is followed by gear inspection, including gear rolling tests, backlash measurements, and tooth contact pattern analysis to ensure dimensional accuracy and proper tooth profile.
Gear Manufacturing Market Trends:
Gears are essential components in transmissions, drivelines, and differentials in a wide range of vehicles, including passenger cars, commercial vehicles, and off-road vehicles. As a result, the bolstering growth of the automotive sector and the increasing production of automobiles are prime factors driving the market growth. Besides this, gears are extensively used in a variety of consumer electronic products, including cameras, printers, gaming consoles, and home appliances, which, in turn, are aiding in market expansion. Moreover, the expanding industrial automation and the adoption of robotics in the manufacturing and logistics sectors are fueling the need for high-precision gears for efficient and reliable machinery operation. Concurrent with this, the rising demand for gearboxes for material handling equipment and heavy-duty machinery, such as cranes, excavators, and loaders used across the construction and mining industries, is contributing to the market growth. In addition to this, the growing product utilization across the thriving aerospace and defense sectors in aircraft engines, helicopters, military vehicles, and other critical applications is creating a positive outlook for the market. In line with this, the surging product utilization across wind turbines and solar tracking systems and the growing demand for precision gears in medical equipment, including imaging devices, surgical instruments, and robotic systems, are propelling the market forward. Furthermore, ongoing technological advancements, such as the development of high-performance materials, innovative gear designs, and improved manufacturing processes, are presenting remunerative growth opportunities for the market.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global gear manufacturing market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product and end user.Product Insights:
- Worm Gear
- Bevel Gear
- Others
End User Insights:
- Oil and Gas industry
- Power Industry
- Automotive
- Others
Regional Insights:
North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global gear manufacturing market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Bonfiglioli S.P.A, David Brown Santasalo, Emerson Electric Co, Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid Powertrain Group (Comer Industries), WEG S.A. (WEG Participações e Serviços S.A.), ZF Friedrichshafen AG (Zeppelin-Stiftung), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global gear manufacturing market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global gear manufacturing market?
- What is the impact of each driver, restraint, and opportunity on the global gear manufacturing market?
- What are the key regional markets?
- Which countries represent the most attractive gear manufacturing market?
- What is the breakup of the market based on the product?
- Which is the most attractive product in the gear manufacturing market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the gear manufacturing market?
- What is the competitive structure of the global gear manufacturing market?
- Who are the key players/companies in the global gear manufacturing market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Gear Manufacturing Market
6 Market Breakup by Product
7 Market Breakup by End User
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bonfiglioli S.P.A
- David Brown Santasalo
- Emerson Electric Co
- Rotork Plc
- SEW-EURODRIVE GmbH and Co KG
- Siemens AG
- Sumitomo Heavy Industries Ltd.
- Walterscheid Powertrain Group (Comer Industries)
- WEG S.A. (WEG Participações e Serviços S.A.)
- ZF Friedrichshafen AG (Zeppelin-Stiftung)
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 144 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 75.4 Billion |
| Forecasted Market Value ( USD | $ 108.5 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
