What Fueled Industrial Gearbox Market?
The industrial gearbox market has seen considerable growth due to a variety of factors.
• There has been a robust growth in the industrial gearbox market size in the past few years. It is estimated to increase from a value of $31.39 billion in 2024 to $33.06 billion in 2025, with a compound annual growth rate (CAGR) of 5.3%.
The factors contributing to this growth during the historic period include the expansion of the manufacturing sector, solid economic growth in budding markets, and rising demand for electric vehicles.
What Does the Future Hold for the Industrial Gearbox Market?
The industrial gearbox market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the industrial gearbox market is predicted to experience substantial growth, reaching a value of $41.55 billion in 2029, with a compound annual growth rate (CAGR) of 5.9%.
This surge during the forecasted period can be ascribed to the increased embracement of industrial automation, escalated urbanization, and the growing use of integrated robots. Key trends for the forecast period encompass emphasis on technological progress, product development, rapid digitalization in industrial automation, launching of new products, and mergers and acquisitions.
What Are The Primary Growth Drivers In The Industrial Gearbox Market?
The industrial gearbox market has been significantly influenced by the increasing acceptance of industrial automation. Industrial automation systems, which are computer-controlled systems that oversee and control a process, machine, or device for repetitive tasks or responsibilities, are designed to operate independently, thus minimizing and enhancing human effort in the industry. For instance, the International Federation of Robotics, a non-profit organization based in Germany, reported in September 2023 that robot installations in 2022 amounted to a yearly total of 290,258 units, surpassing the prior record set in 2021 and signifying a 5% growth rate. Therefore, the growing adoption of industrial automation is a primary motivating factor for the industrial gearbox market.
What Are The Primary Segments In The Global Industrial Gearbox Market?
The industrial gearbox market covered in this report is segmented –
1) By Type: Planetary, Helical, Bevel, Spur, Worm, Other Types
2) By Design: Parallel Axis, Angled Axis, Other Designs
3) By Application: Construction And Mining, Automotive, Industrial, Power Generation, Marine, Other Applications
Subsegments:
1) By Planetary: Spur Planetary Gearbox, Bevel Planetary Gearbox
2) By Helical: Single Helical Gearbox, Double Helical Gearbox
3) By Bevel: Straight Bevel Gearbox, Mitre Bevel Gearbox
4) By Spur: Standard Spur Gearbox, Heavy-Duty Spur Gearbox
5) By Worm: Shaft Mounted Worm Gearbox, Worm Gear Reducer
6) By Other Types: Cycloidal Gearbox, Rack and Pinion Gearbox, Harmonic Drive Gearbox
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Which Key Trends Are Driving Changes In The Industrial Gearbox Market?
The trend of rapidly integrating digital technology and automation in various sectors, basically signifies the fast-paced digitalization of industrial automation. Its purpose is to enhance operational effectiveness, boost production, and minimize costs through the automation of formerly manual tasks, utilizing digital solutions like AI, IoT, and robotics. The ultimate goal for industries is to transform their infrastructures into intelligent factories where automation rules and continuous synchronization between individuals, sensors, and devices is achieved via the IoT. Through digital process automation, businesses have the potential to be more customer-centric and agile. The digital and intelligent nature of their operational structures allows them to gamble on innovative product design. In February 2023, Schneider Electric, a digital transformation and energy management automation specialist, declared the initiation of its new Industrial Digital Transformation Services at the 27th Annual ARC Industry Leadership Forum. It is a global service specially designed to help industrial corporations achieve comprehensive digital automation that is prepared for the future, inventive, sustainable, and functional. These elements are believed to encourage the uptake of automated procedures, and as a result, the use of automated machinery. Furthermore, the implementation of automated processes will allow the industry to employ better-optimized gears and equipment.
Who Are the Key Players in the Industrial Gearbox Market?
Major companies operating in the industrial gearbox market include:
• Bosch Rexroth AG
• Flender GmbH
• Dana Incorporated
• China High-Speed Transmission Equipment Group Co. Ltd
• Bonfiglioli Riduttori SPA
• Getriebebau NORD GmbH & Co. KG
• Sumitomo Heavy Industries Co. Ltd.
• Lenze SE
• Elecon Engineering Company Limited
• Sew-Eurodrive
• Ashoka Machine Tools Corporation
• Nord Drive Systems
• GearTech
• Essential Power Transmission Pvt. Ltd
• Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd
• Siemens AG
• Stellantis
• Renold Plc
• Highfield Gears
• Griffin Gear
• Rexnord
• Cone Drive Operations
• David Brown
• Atlanta Gear Works
• Superior Gearbox Company
• Motus Labsare
• Dietz Electric Co. Inc
• Sumitomo Drive Technologies
• Worm Gearbox Manufacturer
• Greenshpon Engineering Ltd
• Apex Dynamics
• Zollern
• Ashot Ashkelon Industries
• AL NIHAL INDUSTRIAL EQUIP. TR. LLC
• Everest Electrical & Mech Equipment Trading LLC
• Synergies Tech DMCC
• Nishi Enterprise
• Eickhoff
• Principal Power Solutions
• Volza's
• Crane Solutions Global Services Company Ltd.
What Is The Most Dominant Region In The Industrial Gearbox Market?
Asia-Pacific was the largest region in the industrial gearbox market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial gearbox market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
