Global $31.9 Bn Industrial Gearbox Market to 2023 - Increasing Installation of Gearboxes in Renewable Generation, With A Skew Towards Wind Farm Sector

DUBLIN, Sept. 27, 2018 /PRNewswire/ --

The "Industrial Gearbox Market by Type (Planetary, Helical, Bevel, Spur, Worm), Design (Parallel, Angled) Industry (Wind Power, Material Handling, Construction, Metal & Mining, Cement & Aggregate, Food & Beverage), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global Industrial Gearbox market is estimated to grow from USD 25.91 billion in 2018 to USD 31.90 billion by 2023, at a CAGR of 4.25% during the forecast period.

The growth in the industrial gearbox market is driven by the increasing automation in manufacturing industries such as automobile, food processing, and agriculture machinery. In addition, increasing investments in renewable power generation, with a skew towards wind power, is driving the market.

In this report, the Industrial Gearbox market is segmented on the basis of type into planetary, helical, bevel, spur, worm, and others. The planetary gearbox segment is the fastest growing segment by type in the industrial gearbox market because of the vast application of this type of gearbox in wind turbines, steel plants, and various industries such as food and beverage, mining, and cement. These gearboxes are used in a wide range of applications such as port lifting equipment, mixers, pressure feeder, defuser, and crystallizer. The growing investment in food and beverage industry and mining and cement industry in Europe and Asia, respectively, is driving the growth for the planetary gearboxes.

The Industrial Gearbox market is further segmented on the basis of design into parallel, angular, and others. The parallel segment is projected to hold the largest market share in the industrial gearbox market. The helical and planetary gearboxes, which hold the substantial share of the industrial gearbox market, are manufactured using the parallel axis design. Thus, the parallel axis segment is expected to hold the largest market share.

The market has been segmented on the basis of end-user into wind power, cement & aggregate, chemical, rubber & plastic, construction, food & beverage, marine, material handling, metals & mining, power generation, recreational vehicle, transport industry, agriculture, automotive, and others. The wind power segment is expected to grow at the fastest rate in the industrial gearbox market. The growth in the wind power segment is driven by the increasing investment in wind power installations in Asia Pacific, North America, and Europe.

Asia Pacific region is estimated to dominate the Industrial Gearbox market in the forecast period. The market in Asia Pacific is expected to hold the largest share and is forecast to grow at the fastest rate during the forecasted period. The region holds the largest market share globally as the countries such as China and Japan are among the largest manufacturing countries in the world. In addition to this, the projected installation of wind power and the growing automation in the manufacturing industries in the region is driving the growth of the industrial gearbox market in Asia Pacific.

The major factor restraining the growth of the Industrial Gearbox market is the slowdown of the major economies in the European region. The technical challenges are also acting as a restraint for the growth of the market.

In this industry, most players are global multinational companies. Some of the leading global manufacturers of industrial gearboxes are Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), and Dana Brevini (Italy). These players have adopted growth strategies such as new product launches and contracts & agreements to capture a larger share in the Industrial Gearbox market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Industrial Gearbox Market
4.2 Industrial Gearbox Market, By Country
4.3 Industrial Gearbox Market, By Type
4.4 Industrial Gearbox Market, By Industry
4.5 Industrial Gearbox Market, By Design
4.6 Asia Pacific Industrial Gearbox Market

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Demand for Energy Efficient Gearboxes
5.2.1.2 Growing Adoption of Industrial Automation Across Various Industries
5.2.1.3 Increasing Industrialization in Economies Such as the Middle East and Africa
5.2.2 Restraints
5.2.2.1 Slowdown of Industrialization in Europe
5.2.2.2 Technical Challenges Such as Overheating, Oil Leaks, and Excessive Noise
5.2.3 Opportunities
5.2.3.1 Increasing Installation of Gearboxes in Renewable Generation, With A Skew Towards Wind Farm Sector
5.2.4 Challenges
5.2.4.1 Availability of Substitutes Such as Variable Frequency Drives (VFDS)

6 Industrial Gearbox Market, By Type

6.1 Introduction
6.2 Helical Industrial Gearbox
6.3 Planetary Industrial Gearbox
6.4 Bevel Industrial Gearbox
6.5 Spur Industrial Gearbox
6.6 Worm Industrial Gearbox
6.7 Others (Combination Gears Such as Helical-Bevel, Planetary-Worm)

7 Industrial Gearbox Market, By Design

7.1 Introduction
7.2 Parallel Axis
7.3 Angled Axis
7.4 Others (Non-Coplanar, Non - Parallel Axis)

8 Industrial Gearbox Market, By Industry

8.1 Introduction
8.2 Wind Power
8.3 Cement & Aggregates
8.4 Chemicals, Rubber & Plastic
8.5 Construction
8.6 Food & Beverage
8.7 Marine
8.8 Material Handling (Includes Lawn & Turf, Other Conveying Equipment's for Larger Group of Manufacturing Industries)
8.9 Metals & Mining
8.10 Power Generation (Excluding Wind Power)
8.11 Recreational Vehicle
8.12 Transportation Industry (Excluding Automotive)
8.13 Agriculture
8.14 Automotive
8.15 Others

9 Industrial Gearbox Market, By Region

10 Competitive Landscape

10.1 Introduction
10.2 Competitive Situation & Trends
10.3 Ranking of Players, 2017
10.4 Competitive Scenario
10.4.1 New Product Developments
10.4.2 Investments & Expansions
10.4.3 Mergers & Acquisitions
10.4.4 Contracts & Agreements

11 Company Profiles

11.1 Company Benchmarking.
11.2 Emerson Electric Co.
11.3 Johnson Electric Holdings Limited
11.4 Siemens AG
11.5 Sumitomo Heavy Industries Ltd.
11.6 Watt Drive Weg Group.
11.7 Sew-Eurodrive
11.8 GKN Off-Highway Powertrain
11.9 ABB
11.10 Bauer Gear Motor
11.11 Bondioli & Pavesi
11.12 Dana Brevini
11.13 Bonfiglioli
11.14 Comer Industries
11.15 Elecon Engineering
11.16 China High Speed Transmission Equipment Group Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/research/97nkjd/global_31_9_bn?w=5

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