Market Synopsis, The Industrial Gearbox is an enclosed system that transmits energy from one device to another output device. Industrial gearbox transmits the speed, torque, and other attributes to convert energy into useable form. The output shaft of a gearbox revolves at a slower rate than the input shaft. This reduction in speed provides increases the torque for cranes, ship unloaders, mine hoisters, and other machines within industrial operations and provides a mechanical advantage. Some of the types of industrial gearboxes are helical, bevel, planetary, and spur., The factors driving the demand of industrial gearbox are growth in industrial automation in Europe and rapid growth of the construction industry in some developing nations. The global population has been growing since the past few decades and is expected to continue growing during the forecast period. This has increased the demand for industrial automation, globally. The global trends of digitalization and automation in the manufacturing has further enabled the growth of the markets for industrial gearbox. Globally, Europe leads in terms of automation and technological development for manufacturing and robotics. As per the Germany Trade & Invest, an economic development agency, the automotive industry has the highest use of industrial robots in Germany. According to the Mechanical Engineering Industry Association, in the year 2017, the total robotics and automation turnover in Germany accounted for approximately USD 16.35 billion. The yearly shipments of multipurpose industrial robots have also increased in the leading European countries. Furthermore, industrial gearboxes are known for their maximum torsional stiffness and low noise during operations. Proper functioning of industrial gearboxes ensures improved efficiency of machines and enhances production capacity. Industrial gearboxes modify the speed ratio to the transmitted power and improve the operational processes in the industrial automation applicat

Market Synopsis

The Industrial Gearbox is an enclosed system that transmits energy from one device to another output device. Industrial gearbox transmits the speed, torque, and other attributes to convert energy into useable form. The output shaft of a gearbox revolves at a slower rate than the input shaft. This reduction in speed provides increases the torque for cranes, ship unloaders, mine hoisters, and other machines within industrial operations and provides a mechanical advantage. Some of the types of industrial gearboxes are helical, bevel, planetary, and spur.

The factors driving the demand of industrial gearbox are growth in industrial automation in Europe and rapid growth of the construction industry in some developing nations. The global population has been growing since the past few decades and is expected to continue growing during the forecast period. This has increased the demand for industrial automation, globally. The global trends of digitalization and automation in the manufacturing has further enabled the growth of the markets for industrial gearbox. Globally, Europe leads in terms of automation and technological development for manufacturing and robotics. As per the Germany Trade & Invest, an economic development agency, the automotive industry has the highest use of industrial robots in Germany. According to the Mechanical Engineering Industry Association, in the year 2017, the total robotics and automation turnover in Germany accounted for approximately USD 16.35 billion. The yearly shipments of multipurpose industrial robots have also increased in the leading European countries. Furthermore, industrial gearboxes are known for their maximum torsional stiffness and low noise during operations. Proper functioning of industrial gearboxes ensures improved efficiency of machines and enhances production capacity. Industrial gearboxes modify the speed ratio to the transmitted power and improve the operational processes in the industrial automation applications. They provide several benefits such as high productivity and efficiency, reduce maintenance cost, and less power consumption. However, there are various factors, such as power overload, gear wear, water and oil particulate contamination, and improper handling of gearboxes that affect the working of industrial gearboxes. Therefore, in order to ensure proper functioning of the gearbox, proper inspection and repair of industrial gearboxes are essential throughout their lifespan

The developing nations are particularly bringing various reforms and regulations to boost their infrastructure and real estate. Such reforms are expected to augment the growth of the construction sector, driving the industrial gearbox market, globally. Furthermore, an increase in world population since the past few decades has led to an increase in demand for both, commercial and residential infrastructure. There is extensive application in the construction industry as gearboxes consume less power, as well as they enable a high range of torque and high friction coefficient, which raises their demand. Authorities in countries such as China and India are investing in infrastructure development and are expected to remain the highest investing countries during the forecast period. According to the India Brand Equity Foundation, India will need to invest USD 777.30 billion, approximately, in infrastructure by 2022 for sustainable development. Moreover, many commercial entities in the country are investing in developing infrastructure, which would boost the growth of the construction industry. For instance, in June 2018, the Asian Infrastructure Investment Bank (China) invested USD 200 million in the National Investment & Infrastructure Fund (India). This investment was made to develop infrastructure in the country. Industrial gearboxes form an important aspect of the construction industry, as they are useful in driving conveyors, crushers, plastic extruders. Such developments and other factors to support industrial growth and the rapid growth of the construction industry in developing economies, are expected to increase the demand of industrial gear in the construction industry. Hence, such factors are expected to increase the demand of global industrial gearbox market during the forecast period.

Segmentation: Global Industrial Gearbox Market

The global market for industrial gearbox is segmented based on type, design, size (KW), torque, industry, and region. By type, the global market is segmented as helical, planetary, bevel, worm, spur, and others. By design, the global market is segmented as parallel axis, angles axis, and others. By size (KW), the global market is segmented into small (up to 55 KW) and large (above 1 MW). By torque, the global market is segmented into up to 50,000 Nm and above 50,000 Nm. By industry, the global market is segmented as industrial, wind power, material handling, construction, power generation (excluding wind power), marine, and others.

Geographically, the global market is segmented as Europe, North America, Asia-Pacific, the Middle East & Africa, and South America. The market in Asia-Pacific is estimated to hold the major market share during the forecast period, owing to the increasing demand for clean energy and growth of the various industries such as industrial, construction, and food & beverages in the region. The market in Asia-Pacific is one of the largest markets for renewable energy in the world. According to the International Renewable Energy Agency, in 2017, the region accounted for almost two-thirds of the global renewable generating capacity. The region’s renewable energy capacity doubled over the past five years, reaching nearly 9,168 GW in 2017. The construction industry in China has grown substantially in terms of sustainable construction activities, such as green buildings and smart cities. As per the International Trade Administration (ITA) and the US Department of Commerce, in the year 2016, the construction industry in China was valued at approximately USD 717.71 billion. The increased investments in green buildings in China are likely to help meet the requirement of energy-efficient buildings. The construction of these buildings requires various machinery and equipment assemblies where industrial gearboxes are required to control the drive system. Such factors are expected to drive the industrial gearbox market in Asia-Pacific during the forecast period.

Prominent Industry Participants

The Prominent Industry Participants in the Global Industrial Gearbox Market are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Sew-Eurodrive (Germany), Sumitomo Heavy Industries, Ltd (Japan), Emerson Electric Co (US), Nanjing High Speed & Accurate Gear Group Co., Ltd (China), Renk AG (Germany), Nidec-Shimpo Corporation (US), Rexnord Corporation (US), General Electric (US), Zollern GmbH & Co. KG (Germany), and Eickhoff Antriebstechnik GmbH (Germany), and Wikov Industry A.S. (Czech Republic).

The report for global industrial gearbox market of Market Research Future research covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.

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