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Industrial Gearbox Market Research Report—Global Forecast till 2030

Industrial Gearbox Market Research Report Information By Type (Planetary, Helical, Bevel, Spur, worm, Others) Design (Parallel Axis, Auxiliary Axis, Others) Size (Up to 1 MW and above 1 MW) Torque (Up to 50,000 NM and above 50,000 NM) Industry (Power Generation, Construction, Material Handling, Industrial, Wind Power, Marine, Others) Forecast 2030

ID: MRFR/E&P/5805-CR | August 2022 | Region: Global | 155 Pages         

Industrial Gearbox Market

Global Industrial Gearbox Market is projected to arrive at USD 39,030.2 million by 2030, developing at a CAGR of 4.6% from 2022-2030

Segmentation

By Type Planetary Helical Bevel Spur Worm
By Plan Equal hub Calculated Pivot
By Part Stuff Shaft Bearing
By Industry Development Power age Modern Material dealing Marine Wind force

Key Players

  • David Brown (UK)
  • Kumera Corporation (Finland)
  • Parsons Peebles LTD (UK)
  • Sumitomo Heavy Industries Ltd (Japan)
  • Fluor Corporation (US)
  • Triveni Engineering & Industries Ltd (India)
  • PG Drive (India)
  • GearTec (US)
  • Sew-Eurodrive (Germany)
  • Elecon Group Company Limited (India)
  • Artec Machine Systems (US)
  • Dana Limited (US)
  • GBS Gearbox Services (Switzerland)
  • Unico Mechanical (US)

Drivers

  • Expanding robotization
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Industrial Gearbox Market Overview


The industrial gearbox market size is projected to be worth USD 39,030.2 million by 2030, registering a CAGR of 4.6% during the forecast period (20222030).


An industrial gearbox is a system in which the mechanical energy is transferred from one device to another and is used to increase torque while reducing speed. Gearboxes can modify their speed torque to convert energy into a compatible format. They are useful in easing out the mechanical functioning in industries.


COVID-19 Impact on the Global Industrial Gearbox Market:


COVID-19 has had detrimental effects on the global economy as many industries have been affected by the current circumstances, and operations of various sectors have come to a standstill. The power industry is among the major industries affected.


Lockdowns across countries have reduced the availability of skilled labor at construction sites. Furthermore, many key players in the market have been downsizing in the last few months to reduce capital expenditure, as many industrial gearbox projects have been indefinitely delayed. Many companies maintained a lower headcount till the second half of 2021, when the Industrial Gearbox market was expected to stabilize gradually to increase the industrial demand.


Industrial Gearbox Market Dynamics


Drivers


  • Growth in industrial automation in Europe

  • Rapid growth of construction industries in developing countries


Governments, across all regions, are promoting infrastructure development. The developing nations are particularly bringing various reforms and regulations to boost their infrastructure and real-estate sectors. Such reforms are expected to augment the growth of the construction sector, driving the industrial gearbox market globally. Furthermore, the growth in the world population over the past few decades has led to an increased demand for both residential and commercial infrastructure. Gearboxes are extensively used in the construction industry as they consume less power and enable a high range of torque and high friction coefficient, driving their demand. Countries such as India and China are substantially investing in infrastructure development and are expected to remain the highest investing countries during the forecast period. Such developments and other factors that support the growth of the industrial sector and the construction industry in developing economies are expected to increase the demand for industrial gearboxes.


Restraints


  • Technical faults such as oil leakage and heating


Industrial gearboxes are robust machines that withstand high temperatures, high pressure, and harsh working conditions. Owing to extremely high speeds and intense pressure, industrial gearboxes require lubrication to prevent failure or damage. During the continuous motion, as the speed and torque of industrial gearboxes increase, the likelihood of resonant vibrations also increases. Over time, such vibrations can result in shaft failure, noise, fatigue, and cracks. Overlooking technical details of the operations, such as lubrication, misalignment, thermal instability, and torsional & lateral vibration, might result in catastrophic events for the whole industry where gearboxes are installed. Additionally, the performance of gearboxes depends on the use of lubricants during industrial operations. Such technical factors can hinder the growth of the global market.


Opportunities


  • Rise in number of applications in renewable energy


Electricity generation from renewable energy sources is on the rise world over. Solar and wind power generation are the most rapidly growing areas of investment, as remarkable technological advancements support the improvement of the efficiency of these sources. Hence, a greater number of gearboxes need to be installed in wind turbines to meet the demand for renewable energy and reap the benefits of its use. Such factors are expected to increase the demand for wind turbines gearbox for proper functioning. This is expected to be an opportunity in the global industrial gearbox market.


Industrial Gearbox Market Supply Chain Analysis


The design and development of the industrial gearbox depend on various factors such as the type, power, and speeds of the prime mover, the overall ratio of the gearbox, and its application. In this phase, the dimensions of various components of the industrial gearbox, such as countershaft, main shaft, gears, and bearing, are decided by determining the load capacity of a specific application. After finalizing the design of the industrial gearbox as per its end-use application, raw materials are selected according to the design requirements and are procured by OEMs and component manufacturers.


After procuring the raw material, manufacturers assemble the industrial gearbox according to the finalized design. Countershafts and main shafts are manufactured using raw materials, such as mild steel, carbon steel, carbon-chromium-steel, and carbon-manganese-steel, while gears are manufactured using cast iron, phosphor bronze, and steel alloys to deliver better mechanical strength and wear resistance ability. After these components are manufactured, thorough quality checks are carried out to ensure the quality of these gearboxes to avoid any technical error in assembly.


Once the final product is assembled, the industrial gearbox is then sent to the suppliers, distributors, and service providers for sale to the end users. The suppliers, distributors, and service providers help meet the demand for industrial gearboxes for end-use industries. The industrial gearbox is used to transfer mechanical energy to an output device across wide end-use industries such as wind power, construction, material handling, marine, and power generation. Aftersales activities cover the maintenance and repair operations of the industrial gearbox. It is necessary to perform periodic inspection and maintenance activities of industrial gearboxes to ensure the proper functioning and continuous operation of the equipment.


Industrial Gearbox Market Segmentation


Based on type:


Planetary, helical, bevel, spur, worm, and others are the segments based on type of the Global Industrial Gearbox Market. The planetary segment is anticipated to hold the largest market share during the forecast period.


Based on design:


Parallel axis, auxiliary axis and others are the segments based on design of the Global Market. The Industrial Gearbox market segment that is expected to hold the largest market share in the near future is parallel axis segment.


Based on size:


Up to 1 MW and above 1MW are the segments based on size of the Global Market. Both segments hold a significant market share. Smaller machines under 1 MW have a long history in the industry, with numerous examples of good performance.


Based on torque:


Up to 50,000 NM ad above 50,000 NM are the segments based on torque of Global Industrial Gearbox Market. The market is dominated by the up to 50,00 NM segment in the near future.


Based on industry:


Power generation, construction, material handling, industrial, wind power, marine and others are the segments based on industry of Global Industrial Gearbox Market. The Industrial Gearbox market is dominated by the power generation segment in the near future. Power plants must run 24 hours a day, seven days a week, to meet demand. Power plants ensure that electricity is produced at its highest capacity without fail. The high-speed gearboxes are mounted between the steam turbine and the electric generator. The gearbox's job is to lower the extremely high turbine speed to the specified generator speed. The gearboxes are extremely dependable and efficient.


Industrial Gearbox Market Regional Analysis


The regions are classified as North America, Europe, Asia-Pacific, Middle East & Africa and South America. Asia-Pacific region is anticipated to dominate the industrial gearbox market during the forecast period. Increasing investment in residential and industrial infrastructure development, especially in the growing economies including China, Japan, India, and South Korea, is one of the primary factors boosting the market growth. Additionally, a growing number of manufacturing industries, including metal, paper, plastic, food, packaging, and chemical, further contribute to the demand for industrial gearboxes in the region.


North America is the second largest market for industrial gearbox market. In North America, the US held the largest market share during the forecast period due to the country's increase in power generated from renewable energy resources. The report also covers the country-level analysis of North America, covering the US, Canada, and Mexico. The constant investment in innovative machinery to deliver higher accuracy will fuel the sector's growth throughout the forecast period. The business need would be fueled by the growing need for operational cost reduction in manufacturing plants. Reduced costs can be achieved by reducing raw material waste and production workflow mistakes. Due to large expenditures in the construction of technologically advanced production facilities, this product is expected to have a high acceptance rate in the next years.


Industrial Gearbox Market Competitive Landscape


The Global Market is characterized by the presence of many regional and local vendors. The regional market is highly competitive, with all the players continually competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.


List of Key Companies covered in the report:



  • Siemens (Germany)

  • ABB Group (Switzerland)

  • Emerson Electric (US)

  • Schneider Electric (France)

  • General Electric (US)

  • Sew-Eurodrive (Germany)

  • Sumitomo Heavy Industries, Ltd (Japan)

  • Eickhoff Antriebstechnik Gmbh (Germany)

  • Nanjing High Speed & Accurate Gear Group Co., Ltd (China)

  • RENK AG (Germany)

  • Nidec-Shimpo Corporation (Japan)

  • Rexnord Corporation (US)

  • ZOLLERN GmbH & Co. KG (Germany)

  • Wikov Group (Czech Republic) 


Recent Developments:



  • In December 2021, Siemens Smart Infrastructure has signed an agreement to acquire digital twin software for buildings from EcoDomus, a US-based company. The move helps Siemens Smart Infrastructure expand its digital building portfolio, including its cloud-based building operations twin software and its flagship building management platform Desigo CC.

  • In November 2021, Nanjing High Speed & Accurate Gear Group Co., Ltd signed a master strategic frame agreement with Siemens Energy Global GmbH & Co KG. This agreement aims to expand partnership in the energy, oil & gas, and new energy markets in the future, with reciprocal technology innovation providing complementary advantages and win-win cooperation.

  • In March 2021, General Electric partnered with Reliance Bangladesh LNG & Power Ltd. to provide maintenance services and a suite of digital solutions for a 718 MW combined cycle power plant at Narayanganj, Bangladesh.

  • In August 2020, Schneider Electric acquired ProLeiT AG, a provider of Process Control Systems (PCS) and integrated manufacturing Execution System (MES), which helped expand its product portfolio.

  • In September 2017, Emerson Electric expanded its oil & gas recovery gains steam by investing USD 25 million in facility renovations. Automation played a key role in this expansion and helped oil & gas producers reduce their break-even costs by monitoring performance and maximizing the efficiency of their processes.


Industrial Gearbox Market Report Overview:


The Global Industrial Gearbox Market is segmented based on type, design, size, torque and industry in this report. The report is focused on various analytical aspects such as market dynamics, Supply chain analysis, Porter’s five forces, competitive landscape, recent developments and company profiles. The insights in this report, comprise, discuss views and predict the emerging and fast-growing segments, regions, and countries with potential of development in the Global Industrial Gearbox Market.


Segmentation Overview:


By type:



  • Planetary

  • Helical

  • Bevel

  • Spur

  • Worm

  • Others


By design:



  • Parallel axis

  • Auxiliary axis

  • Others


By size:



  • Up to 1 MW

  • Above 1 MW


By torque:



  • Up to 50,000 NM

  • Above 50,000 NM


By industry:



  • Power generation

  • Construction

  • Material handling

  • Industrial

  • Wind power

  • Marine

  • Others


By Regions:



  • North America

  • Europe

  • Asia-Pacific

  • Middle East & Africa

  • South Americ


Objectives of the Study



  • To get a comprehensive overview of the Global Industrial Gearbox Market.

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, technology advancements and key developments

  • To gain insights about the key country/region in which the Industrial Gearbox market is growing


Intended Audience



  • Energy and Power Companies

  • Manufacturing Companies

  • Research Institutes

  • Academic Institutes

  • Government Organizations



Report Scope:

Report Attribute/Metric Details
  Market Size    2030: USD 39,030.2 Million
  CAGR    ~4.6%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Size, Design, Torque and Industry
  Geographies Covered   North America, Europe, Asia-Pacific, Middle East & Africa and South America
  Key Vendors   Siemens (Germany), ABB Group (Switzerland), Emerson Electric (US), Schneider Electric (France), General Electric (US), Sew-Eurodrive (Germany), Sumitomo Heavy Industries, Ltd (Japan), Eickhoff Antriebstechnik Gmbh (Germany), Nanjing High Speed & Accurate Gear Group Co., Ltd (China), RENK AG (Germany), Nidec-Shimpo Corporation (Japan), Rexnord Corporation (US), ZOLLERN GmbH & Co. KG (Germany), Wikov Group (Czech Republic)
  Key Market Opportunities   Rise in number of applications in renewable energy
  Key Market Drivers   Growth in industrial automation in Europe Rapid growth of construction industries in developing countries


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Frequently Asked Questions (FAQ) :

The Global Industrial Gearbox Market would register a growth of ~ 4.6% during the forecast period.

Power generation industry will play a prominent role in taking the market forward.

Top key players in the industry are Siemens (Germany), ABB Group (Switzerland), Emerson Electric (US), Schneider Electric (France), General Electric (US), Sew-Eurodrive (Germany), Sumitomo Heavy Industries, Ltd (Japan), Eickhoff Antriebstechnik Gmbh (Germany), Nanjing High Speed & Accurate Gear Group Co., Ltd (China), and others.

Asia-Pacific would enjoy the upper hand in the Global Industrial Gearbox Market