NEW YORK, Jan. 6, 2022 /PRNewswire/ --
Industrial Girth Gear Market Facts at a Glance-
Didn't Find What You Were Looking For? Customize Report-
Don't miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short time.
We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now!
According to the recent market study by Technavio, the Industrial Girth Gear Market Size is expected to increase by USD 40.84 million from 2020 to 2025, progressing at a CAGR of 1.60% during the forecast period. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate, occupying 46% of the global market share. China and India are the key markets for industrial girth gear in North America. However, the market growth in this region will be slower than the growth of the market in North America and MEA.
Download FREE Sample: for more additional information about the key countries in North America
Vendor Insights-
The industrial girth gear market is fragmented due to the presence of many regional and global players. Vendors in the market are incorporating innovative technologies and expanding their manufacturing operations to meet the growing demand. Some vendors are acquiring other vendors in the market to expand their product portfolios and to enter new markets.
Ashoka Machines Tools Corp.: The company offers industrial girth gears such as spur gears, herringbone gear, ground gears, precision gears, and more.
FLSmidth and Co. AS: The company offers high-quality industrial girth gears named MAAG GEAR Girth Gear.
Kumera Corp.: The company offers a wide range of industrial girth gears for drum drives. In February 2020, the company acquired Mill-Ore Industries to boost local customer support in Canada.
Siemens AG: The company offers premium girth gear through its Pinion mill drives. In August 2021, the company acquired Sqills, a leading software as a service provider for inventory management, reservation, and ticketing software.
Find additional highlights on the vendors and their product offerings. Download Free Sample Report
Regional Market Outlook
The industrial girth gear market growth in APAC will be significant during the forecast period. The growth of the cement, chemical, and other manufacturing industries has been fostering the industrial girth gear market in APAC. In addition, the rising demand for agricultural machinery, led by the surge in the demand for food grains is contributing the regional market growth.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
Girth gear manufacturers are leveraging the latest technologies and software such as MAGMA and Finite Element Analysis (FEA) in their operations. This is helping them to manufacture large girth gears with comparatively less time. Also, the use of metals such as austempered ductile iron (ADI) has been enabling girth gear manufacturers to produce large industrial girth gear with high tensile strength and a high strength-to-weight ratio. Many such developments among girth gear manufacturers are resulting in improved productivity, thereby supporting the growth of the market.
Growing concerns over the negative environmental impact caused by solid waste are forcing countries across the world to set up waste-to-energy plants. This trend is gaining prominence in developed countries in North America, Europe, and Asia due to the growing solid waste. Developing countries such as China, India, and Brazil are also making significant investments in setting up waste-to-energy plants. All these factors are increasing the demand for girth gears, which is driving the market growth.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
Related Reports:
Gear Manufacturing Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025
Industrial Girth Gear Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.60% |
Market growth 2021-2025 |
USD 40.84 million |
Market structure |
Fragmented |
YoY growth (%) |
1.35 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 46% |
Key consumer countries |
China, Russian Federation, US, UK, and India |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Ashoka Machines Tools Corp., FLSmidth and Co. AS, Kumera Corp., Nippon Chuzo K.K., P. van der Wegen Gears, SEW-EURODRIVE GmbH and Co KG, Siemens AG, SYMMEN, and The KCP Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article