The global industrial gearbox market reached USD 25.21 billion in 2017. It is projected to reach USD 31.90 billion by 2023, growing at a CAGR of 4.25% from 2018 to 2023. Increasing requirement for efficient energy gearbox and clean energy sources are driving the growth of the industrial gearbox market. In addition to this, the increasing automation in manufacturing technology is facilitating the growth of the industrial gearbox market. The industrial gearbox market is segmented on the basis of type, design, industry and region.
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Scope of the report:
By Industry
- Wind Power
- Cement & Aggregates
- Chemical, Rubber & Plastics
- Construction
- Food & Beverage
- Marine
- Material Handling
- Metals & Mining
- Power Generation
- Recreational Vehicle
- Transportation Industry
- Agriculture
- Automotive
- Others (Aerospace, Defense, Semiconductor, Robotics, Textile, Healthcare)
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.
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The report includes the profiles of the top players in the industrial gearbox market 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).
