The global Industrial Gearbox market is estimated to expand at a 5.00% CAGR during the forecast period.
Industrial gearbox is defined as the enclosed system which helps in transmitting mechanical energy to an output device. Industrial gearbox slowdown the rate of rotation in order to increase speed and torque. High reliability of industrial gearbox is demanded in some applications as its breakdown can cause serious implications. So, manufacturers of industrial gearbox are focusing on designing of industrial gearbox in order to match customer’s requirements. Industrial gearbox is used in high speed applications such as aerospace, automobile, and marine.
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Key Players Analysis
The key players of global Industrial gearbox market are Emerson Electric Co, Johnson Electric Holdings Limited, Siemens AG, Sumitomo Heavy Industries Ltd, Watt Drive Weg Group, Sew-Eurodrive, Schneider Electric, GKN Off-Highway Powertrain, ABB Ltd, Bauer Gear Motor, Bondioli & Pavesi, Dana Brevini, Bonfiglioli, Comer Industries, Elecon Engineering, and China High Speed Transmission Equipment Group Co., Ltd.
Industrial Gearbox market Highlights
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global industrial gearbox market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
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The global Industrial Gearbox market is set to witness significant growth due to rising use of industrial gearbox in manufacturing sector and in machine tools and material handling equipment. The demand for energy efficient gearbox is likely to boos the demand of industrial gearbox market. The renewable power generation is also expected to offer promising business opportunities to the industrial gearbox during the forecast period. According to IRENA (International Renewable Energy Association), renewable power generation is expected to hold 36% share in the total power generation capacity by 2030 from 18% in 2015. However, the features such as overheating, excessive noise, and oil leaks of industrial gearbox is likely to restraint the industrial gearbox market.
The Industrial gearbox market has been segmented based on industry as wind power; cement & aggregates; chemicals, rubber & plastic; construction; food & beverage; marine; material handling; metals & mining; power generation; recreational vehicle; transportation industry; agriculture; automotive; and others. Wind power is expected to be the fastest growing segment in the industrial gearbox market during the forecast period due to increasing wind power installation globally.
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