Gears, Drives and Speed Changers Global Market is Expected to Reach $218.6 Billion by 2030: Rising Average Vehicle Life Drive Demand for Aftermarket Gears and Drives

DUBLIN, July 6, 2023 /PRNewswire/ -- The "Gears, Drives and Speed Changers: Global Strategic Business Report" report has been added to  ResearchAndMarkets.com's offering.

The global market for Gears, Drives and Speed Changers estimated at US$143.4 Billion in the year 2022, is projected to reach a revised size of US$218.6 Billion by 2030, growing at a CAGR of 5.4% over the analysis period 2022-2030.

Automotive, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$159.9 Billion by the end of the analysis period.

Taking into account the ongoing post pandemic recovery, growth in the Industrial segment is readjusted to a revised 5.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $27.5 Billion, While China is Forecast to Grow at 6.3% CAGR

The Gears, Drives and Speed Changers market in the U.S. is estimated at US$27.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$45.9 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$33.6 Billion by the year 2030.

Select Competitors (Total 339 Featured) -

• ABB Ltd.
• Bharat Gears Ltd.
• Bonfiglioli Riduttori S.P.A.
• BorgWarner, Inc.
• Bosch Rexroth AG
• Cone Drive
• Danfoss Group
• David Brown Santasalo
• Eaton Corporation Plc
• Emerson Electric Co.
• FLSmidth MAAG Gear AG
• Horsburgh & Scott
• Kanzaki Kokyukoki Manufacturing Co. Ltd.
• NSK Ltd.
• Rexnord Corp.
• Schneider Electric
• SEW Eurodrive
• Siemens AG
• Sumitomo Drive Technologies
• Twin Disc, Inc.
• ZF Friedrichshafen AG

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
• Progress on Vaccinations: Why Should Businesses Care?
• With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish about an Economic Comeback Despite a Continuing Pandemic
• A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
• Easing Unemployment Levels in 2021 Although Moderate Will Infuse Hope for Industries Reliant on Consumer Discretionary Incomes: Global Number of Unemployed People (In Million) for Years 2019, 2020, 2021, and 2022
• Industrial Activity Remains Subdued in 2020 with Strong Hopes of Long Term Recovery
• Global PMI Index Points for the Years 2018, 2019 & 2020
• An Introductory Prelude
• Automotive Industry - A Bellwether of Market Prospects
• Developing Countries Continue to be Growth Engines
• Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
• Global Machine Tools Market (2020E): Percentage Breakdown of Dollar Sales by Region
• Market Outlook
• Improving US Economy Augurs Well for the Market
• Cyclical Upturn Encourages Positive Manufacturing Outlook in Asia-Pacific
• Off-Shoring of Manufacturing Activity Boosts Demand in Developing Countries
• Competitive Scenario
• Recent Market Activity
• Select Global Brands
• Gears, Drives and Speed Changers - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• An Outlook for Global Gear Technology Market
• Pandemic-Induced Changes in Manufacturing Industries Create New Demand Patterns for Gear Products
• Growth in Automobiles Production to Spur Market Demand
• World Automobile Production in Million Units: 2008-2022
• How the Automotive Industry was Impacted by the Pandemic & What's the New Normal?
• Car Production YoY % Growth in 2020 Across Major Regional Markets
• Global Automotive Market Reset & Trajectory - Growth Outlook (In %) For Years 2019 Through 2025
• Gears - Vital Component of Automotive Systems
• Key Trends in Automotive Gearbox Market
• Growing Popularity of Steer-by-Wire Technology Drives Future Demand for Power Steering Gears
• Rising Average Vehicle Life Drive Demand for Aftermarket Gears and Drives
• Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2022E
• Average Age of Cars in the EU (2022E): Breakdown by Select Country
• Industrial Gearboxes Market - An Overview
• Asia-Pacific Leads the Industrial Gearboxes and Gear Motors Market
• Internal Drive Trains in Mountain Bikes and E-Bikes: Advantages and Disadvantages
• Aerospace Sector Augurs Well for Long Term Growth
• Global Aircraft Fleet (in Units) by Geographic Region/Country for the Years 2017 and 2035P
• Aircraft Power Transmission Equipment Market (2022E): Percentage Share Breakdown of Shipments by End-Use Application - Civil Aircrafts and Military Aircrafts
• Pandemic Causes Panic in the Aerospace Sector
• COVID-19 Pandemic Dents Airline Revenues: Commercial Airline Revenue Growth (in %) for 2010-2020E
• Anticipated Surge in Air Traffic to Drive Growth in Aircraft Landing Gear Market
• Landing Gears Market for Commercial Aircrafts to Witness Surge Due to Expected increase in Passenger Numbers
• Heavy Industrial Equipment/Machinery Manufacturing Industry Promises Bright Prospects
• Need for High Quality Gears for Uninterrupted Production Process to Drive Gears Demand
• Recovery in Oil and Gas Sector to Support Demand for Gear and Drives
• Global Oil Reserves: Percentage Breakdown of Volume Reserves by Geographic Region
• The Present Scenario
• Global CAPEX for Upstream Oil and Gas: 2019-2021
• Global Brent Crude Oil Price Trends in US$/barrel: Oct 2019 -May 2021
• Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2021
• Steady Growth in Global Power Generation Activity to Spur Demand
• Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
• Global Primary Energy Consumption (Billion toe): Growth Trajectory for the Period 1990-2040
• Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
• Global Energy Mix: 1990 Vs 2020
• Growing Focus on Exploiting Wind Energy Spurs Growth in Wind Turbine Gear Market
• Increase in Offshore Wind Installations Presents New Opportunities for Industrial Gearbox: Global Offshore Wind Net Capacity Additions (In GW) for The Years 2018-2022
• Global Investment Outlook (In US$ Billion) in Offshore Wind Energy by Select Country between 2019 and 2040
• Global Renewable Energy Breakdown by Type: 2010 Vs 2030
• Gears Used in Nuclear Power Plants to Witness Growth
• Robust Demand for Construction Equipment to Offer Growth Opportunities
• Global Construction Equipment Market: Annual Sales (in US$ Billion) for the Years 2010, 2014, 2018E & 2022P
• Growing Demand for Mining Equipment Boosts Growth in Gear & Gearbox Market
• Global Mining Equipment Market: Annual Revenue (in US$ Billion) for the Years 2016, 2018 & 2020E
• Mechanization of Agriculture Spurs Growth
• Growing Impact of Technology
• Powder Metallurgy Makes Headway in Automotive Transmission Parts Production
• CAD Furthers Gear Design
• A Segmental Overview
• Gears
• Types of Gears
• Global Gears Market (2021E): Percentage Breakdown of Demand by End-Use Segment
• The Evolution of Industrial Gears
• Plant Automation and Electromechanical Machinery Driving Gears Demand
• Gear Assemblies Find Increasing Demand
• Automatic Transmission Systems Gain Prominence - Drive Demand for Planetary Gears in Automotive Market
• Commercial Aircraft Landing Gears Gain Rapid Acceptance
• CVT: A Long Term Threat to Gear Market?
• Wide Scale Applicability Ensures Secure Future
• Drives
• Mechanical Drives Continues to Lose Share to Electric and Hydraulic Drives
• Advantages Offered by Electric Drive Technology Propel its Adoption in Hoists, Cranes and Elevators
• Technological Innovations Power Replacement Market for Electric Drives
• Global AC Drives Market Overview
• World Market for AC Drives by Type (2021E): Percentage Share Breakdown for Less than 40kw AC Drives, 40-200kw AC Drives, and More than 200kw AC Drives
• Direct Torque Control: New Technological Development in AC Drives
• World Market for AC Drives by Region (2021E): Percentage Breakdown of Value Sales for Asia-Pacific, Europe, and North & South America
• Hydraulic Drives Too Grow in Popularity
• Variable Frequency Drives Continue to Witness Growth
• Speed Changers
• World Market for Speed Reducers & Changers (2021E): Percentage Breakdown* of Revenues by Type

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/z3wp6d

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