Industrial Gearbox Market 2019 In-Depth Qualitative Insights, Development Strategy, Opportunity, Top Key Players Review and Rapid Growth by Forecast to 2023

Industrial Gearbox Market 2019 In-Depth Qualitative Insights, Development Strategy, Opportunity, Top Key Players Review and Rapid Growth by Forecast to 2023

“Industrial Gearbox Market”
Industrial Gearbox Market Report Information by Type (Planetary, Helical, Bevel, Spur, Worm), Design (Parallel, Angled) Industry (Wind Power, Material Handling, Construction, Metal & Mining, Cement & Aggregate, Food & Beverage), & Region – Analysis and Global Forecast till 2023. Industrial Gearbox Market Predicted to Grow at a CAGR Of 5.00% During 2018 – 2023

Industrial Gearbox Market Overview

Industrial gearbox is an enclosed system which helps to transmit the mechanical energy to an output device. Industrial gearboxes have the ability to modify their speed, torque, and other features. Industrial gearbox is used in a variety of devices for various purposes. There are different type of industrial gearboxes which are used for different type of purposes. The major gearboxes include helical gearboxes, coaxial helical inline, bevel helical gearbox, and skew bevel helical gearbox, among others. Every type of industrial gearbox has different design, hence the same industrial repair and renewable techniques would not work for all of them.

Growing adoption of industrial automation across various industries is the major factor driving the market of industrial gearbox. Industrial gearboxes are widely used in in various industries as well as applications within those industries. Some of the major applications include electric overhead travelling cranes, machine tools (drilling machines, milling machines, and grinding machines), sugar machinery, cement machinery, automobiles, and material handling equipment. 

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The upsurge in demand for electric overhead traveling cranes and machine tools is identified as a key factor enhancing the progress of the industrial gearbox market. Also, intensified use of automobiles, cement machinery, and material handling equipment is prompting the increased growth of industrial gearboxes. Furthermore, amplified demand for automation is expected to enhance the industrial gearbox market globally.

Industrial Gearbox Market Leading Players Analyzed are:

  • Johnson Electric Holdings Limited,
  • Emerson Electric Co,
  • Siemens AG,
  • Watt Drive Weg Group,
  • Sew-Eurodrive,
  • Schneider Electric,
  • Sumitomo Heavy Industries Ltd,
  • ABB Ltd,
  • Bondioli & Pavesi,
  • Dana Brevini,
  • Bauer Gear Motor,
  • Bonfiglioli,
  • Comer Industries,
  • Elecon Engineering, and
  • China High Speed Transmission Equipment Group Co., Ltd.

Industrial Gearbox Market Segmental Overview

The analysis of segments in the industrial gearbox market globally has been conducted on the basis of design, type, end-user, and region.

By type, the industrial gearbox market has been segmented into planetary industrial gearbox, helical industrial gearbox, bevel industrial gearbox, worm industrial gearbox, spur industrial gearbox and others which comprises of combination gears such as planetary-worm and helical-bevel.

On the basis of industry, the market for industrial gearbox is segmented into mining, wind turbines, steel plants, food & beverage, and cement industry.

Based on design, the industrial gearbox market is segmented into parallel and angled. 

The regions counted in the industrial gearbox market are Asia Pacific, Europe, North America, Middle East, Africa, and South America.

Regional Analysis     

The regional examination of the industrial gearbox market comprises of regions such as Asia Pacific, Europe, North America, Middle East, Africa, and South America.

Region wise, Asia-Pacific held the largest market share of the global industrial gearbox market in 2017 due to increasing use of industrial gearbox in many manufacturing industries. This growth will witness a positive outlook in the coming years owing to increasing automation in industries such as automobile, food processing, and agriculture machinery. Moreover, increasing investments in renewable power generation with a shift towards wind power is driving the industrial gearbox market.

Industry Updates:

Nov 2018 SKF is devoting roughly SEK 200 million in advancing its competitiveness and customer service levels for the tapered roller bearings (TRB) in China. The financing is being made in a fresh manufacturing facility in Changshan, to which the Group’s current small-size TRB manufacturing in China will be moved. The tapered roller bearing market in China keeps on showing solid levels of development, motivated mainly by the industrial drives and gearbox segments.

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