Industrial Sheaves Pulley Market

ID: MRFR/CO/23893-HCR

111 Pages

Snehal Singh

October 2025

Industrial Sheaves And Pulley Market Research Report By Product Type (Sheaves, Pulleys), By Material (Steel, Cast Iron, Aluminum, Plastic, Other Materials), By Application (Industrial Machinery, Construction Equipment, Automotive, Mining, Agricultural Equipment), By Capacity (Low Capacity (Up to 100 kg), Medium Capacity (101-500 kg), High Capacity (501-1000 kg), Very High Capacity (Over 1000 kg)) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2035

Industrial Sheaves Pulley Market Infographic

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Summary Table of Contents Segmentation Download PDF

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Industrial Sheaves Pulley Market Summary

The Global Industrial Sheaves and Pulley Market is projected to grow from 6.97 USD Billion in 2024 to 10.09 USD Billion by 2035.

Key Market Trends & Highlights

Industrial Sheaves and Pulley Key Trends and Highlights

The market is expected to experience a compound annual growth rate (CAGR) of 3.41 percent from 2025 to 2035.
By 2035, the market valuation is anticipated to reach 10.1 USD Billion, indicating robust growth potential.
in 2024, the market is valued at 6.97 USD Billion, reflecting a solid foundation for future expansion.
Growing adoption of automation technologies due to increased efficiency demands is a major market driver.

Industrial Sheaves Pulley Market

CAGR

3.42%

Market Size & Forecast

2024 Market Size	6.97 (USD Billion)
2035 Market Size	10.09 (USD Billion)
CAGR (2025-2035)	3.42%

Major Players

Morse, Koyo Bearings, PT Components, Jamsar, Dodge Manufacturing, Lovejoy, Renold, Huron Gear, NEFCO, Martin Sprocket Gear, Baldor Electric, Philadelphia Gear, Rollway Bearing, Tsubaki, Gates

Industrial Sheaves Pulley Market Trends

The Industrial Sheaves and Pulley Market is experiencing a surge in demand, driven by the burgeoning manufacturing and construction industries. The rise of automation and the increasing need for efficient material handling solutions fuel market growth. The adoption of lightweight and durable materials like aluminium alloys and composites enhances product performance and reduces maintenance costs, further driving market expansion.

Opportunities lie in the development of smart sheaves and pulleys equipped with sensors and IoT connectivity. These innovations enable remote monitoring, predictive maintenance, and improved safety measures. Additionally, untapped markets in emerging economies present significant growth potential.

Recent trends include a shift towards customized solutions tailored to specific industry requirements. Growing environmental concerns drive demand for eco-friendly products manufactured from sustainable materials. Collaborations between manufacturers and end-users to optimize design and functionality further shape market dynamics.

The ongoing evolution of manufacturing technologies appears to drive a robust demand for industrial sheaves and pulleys, reflecting a broader trend towards enhanced efficiency and productivity in various sectors.

U.S. Department of Commerce

Industrial Sheaves Pulley Market Drivers

Rising Demand for Automation

The Global Industrial Sheaves and Pulley Market Industry experiences a notable surge in demand driven by the increasing adoption of automation across various sectors. Industries such as manufacturing, construction, and logistics are integrating automated systems to enhance efficiency and reduce operational costs. For instance, automated conveyor systems utilize sheaves and pulleys to facilitate material handling, thereby streamlining processes. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 6.97 USD Billion in 2024. As automation continues to evolve, the demand for reliable sheaves and pulleys is likely to escalate.

Market Segment Insights

Industrial Sheaves and Pulley Market Product Type Insights

The Industrial Sheaves And Pulley Market is segmented by Product Type into Sheaves and Pulleys. The Sheaves segment is expected to hold the largest market share in 2023, owing to its wide applications in different industries. The Pulleys segment is also expected to grow exponentially as an increased number of electro-mechanical products comprise pulleys as essential parts to aid in power transmission. Sheaves are grooved wheels used to change the direction of a rope or cable.

They are commonly used in lifting and hoisting applications or to aid in power transmission.Sheaves are metallic or plastic and solid or split in design. The solid sheaves are durable and able to withstand higher loads, while split sheaves are easier to handle and maintain. The Global Industrial Sheaves Market is expected to grow from USD 3.2 billion in 2023 to USD 4.2 billion by 2028, at a CAGR of 4.3%. It is attributed to the expanding sheaves demands in various industries. Construction, mining, and manufacturing are the largest users of sheaves.

The growing construction industry plays a key role in the increased sheaves demand. Pulleys are wheels with a groove running through the circumference.They are used to change the direction of a rope or cable. They, too, are used in lifting and hoisting applications or to aid in power transmission. Pulleys usually are metallic or, less frequently, plastic or wooden. The Global Industrial Pulleys Market is expected to grow from USD 2.4 billion in 2023 to USD 3.1 billion by 2028 at a CAGR of 4.0%. It is attributed to the burgeoning pulley demand in different industries.

Construction, mining, and manufacturing are the largest pulley users, and the growing construction industry will spur increased pulley demand.Overall, the Industrial Sheaves And Pulley Market is expected to grow. The expanding demands for sheaves and pulleys in the construction, mining, and manufacturing industries drive this growth.

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Industrial Sheaves and Pulley Market Material Insights

The Industrial Sheaves And Pulley Market is segmented by Material into Steel, Cast Iron, Aluminum, Plastic, and Other Materials. Steel is the most common material for sheaves and pulleys, generating more than 50% of the market revenue in 2023. Steel sheaves and pulleys are strong, sturdy, and relatively cheap to produce. Cast iron is another frequently used material, particularly suitable for heavy-duty uses. Although cast iron sheaves and pulleys are stronger and more rugged than their steel equivalents, they are also more costly.

Due to their lightweight and corrosion resistance, aluminum sheaves and pulleys are especially well-suited for food and beverage processing applications.Plastic sheaves and pulleys are light and inexpensive, yet they are not as strong or durable as their metallic counterparts. Sheaves and pulleys made of other materials, such as ceramics, composites, and even wood, are also available.

Industrial Sheaves and Pulley Market Application Insights

The Industrial Sheaves And Pulley Market segmentation by Application segment includes Industrial Machinery, Construction Equipment, Automotive, Mining, and Agricultural Equipment. The market growth for Industrial Machinery is expected to be driven by the increasing demand for automation and efficiency in manufacturing processes. The Construction Equipment segment is expected to witness significant growth due to the rising construction activities globally. The Automotive segment is projected to grow steadily owing to the increasing production of vehicles.The Mining segment is expected to witness moderate growth due to the fluctuating demand for mining equipment.

The Agricultural Equipment segment is anticipated to grow at a steady pace due to the increasing mechanization of agricultural practices.

Industrial Sheaves and Pulley Market Capacity Insights

The Industrial Sheaves And Pulley Market is segmented by Capacity into Low Capacity (Up to 100 kg), Medium Capacity (101-500 kg), High Capacity (501-1000 kg), and Very High Capacity (Over 1000 kg). Among these segments, the Medium Capacity segment held the largest market share in 2023, accounting for around 40% of the Industrial Sheaves And Pulley Market revenue.

This segment is expected to continue to dominate the market over the forecast period, driven by the increasing demand for sheaves and pulleys in material handling applications in various industries.The high-capacity segment is also expected to witness significant growth over the forecast period, owing to the rising demand for heavy-duty sheaves and pulleys in construction and mining applications.

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Regional Insights

The Industrial Sheaves And Pulley Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest share of the market in 2024, followed by Europe and APAC. The growth in the North American market is attributed to the increasing demand for industrial sheaves and pulleys in various industries, such as automotive, construction, and mining.

The European market is also expected to witness significant growth due to the rising demand for energy-efficient and cost-effective solutions in industrial applications.The APAC market is anticipated to grow at a rapid pace, driven by the growing industrialization and urbanization in the region. South America and MEA are expected to witness moderate growth in the coming years due to the increasing demand for infrastructure development and industrialization.

Industrial Sheaves and Pulley Market Regional Insights

Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

Key Players and Competitive Insights

Major industrial sheaves and pulley market industry players are constantly innovating and developing new products to stay relevant in the market. Some leaders in the industrial sheaves and pulley market are also expanding their global presence through the development of new manufacturing facilities and distribution channels. Over the forecast period, contributing to the mawkish growth of the industrial sheaves and pulley market, there is significant demand from various end-users. As a whole, the industrial sheaves and pulley market is expected to remain highly competitive as a number of small and medium-sized players operate in the industrial sheaves and pulley industry.

However, the industrial sheaves and pulley market leaders are likely to maintain their position owing to the strong brand presence, broad distribution networks, and established technology and production capacity. A leading manufacturer, Dodge, offers sheaves and pulleys for a wide range of applications. The products produced by Dodge are known for their durability, reliability and efficiency. Dodge also offers various value-added services, including engineering support, product installation, and maintenance. Another leader in the industrial sheaves and pulley market is Gates.

The industrial sheaves and pulley products manufactured by Gates are designed for use in many different industries, such as agriculture, construction, manufacturing and mining. Gates is also a leading industrial sheave and pulley market player because of the company’s investment in high-quality products and customer service.

Key Companies in the Industrial Sheaves Pulley Market market include

Industry Developments

The Industrial Sheaves And Pulley Market is projected to reach USD 8.8 billion by 2032, exhibiting a CAGR of 3.4% during the forecast period (2023-2032). The increasing demand for industrial machinery in various industries, such as automotive, construction, and manufacturing, is primarily driving market growth.Recent developments include the adoption of lightweight and durable materials like carbon fiber and aluminum alloys, enabling the production of sheaves and pulleys with higher strength-to-weight ratios. Additionally, the integration of advanced technologies, such as sensors and remote monitoring systems, enhances the efficiency and reliability of industrial sheaves and pulleys.

Key players in the market include Timken, SKF, NSK, Schaeffler, and Tsubaki. MA activities and strategic collaborations are prevalent as companies seek to expand their product portfolios and geographical reach.

Future Outlook

Industrial Sheaves Pulley Market Future Outlook

The Global Industrial Sheaves and Pulley Market is projected to grow at a 3.40% CAGR from 2025 to 2035, driven by automation, demand for energy efficiency, and advancements in materials.

New opportunities lie in:

Develop smart sheaves integrating IoT for predictive maintenance solutions.
Invest in lightweight composite materials to enhance performance and reduce energy consumption.
Expand into emerging markets with tailored solutions for local industries.

By 2035, the market is expected to exhibit robust growth, reflecting evolving industrial needs and technological advancements.

Market Segmentation

Industrial Sheaves And Pulley Market Capacity Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Industrial Sheaves And Pulley Market Material Outlook

Industrial Machinery
Construction Equipment
Automotive
Mining
Agricultural Equipment

Industrial Sheaves And Pulley Market Regional Outlook

North America
Europe
South America
Asia Pacific
Middle East and Africa

Industrial Sheaves And Pulley Market Application Outlook

Low Capacity (Up to 100 kg)
Medium Capacity (101-500 kg)
High Capacity (501-1000 kg)
Very High Capacity (Over 1000 kg)

Industrial Sheaves And Pulley Market Product Type Outlook

Steel
Cast Iron
Aluminum
Plastic
Other Materials

Report Scope

Report Attribute/Metric	Details
Market Size 2024	6.97 (USD Billion)
Market Size 2025	7.21 (USD Billion)
Market Size 2035	10.09 (USD Billion)
Compound Annual Growth Rate (CAGR)	3.42% (2025 - 2035)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year	2024
Market Forecast Period	2025 - 2035
Historical Data	2020 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Morse, Koyo Bearings, PT Components, Jamsar, Dodge Manufacturing, Lovejoy, Renold, Huron Gear, NEFCO, Martin Sprocket Gear, Baldor Electric, Philadelphia Gear, Rollway Bearing, Tsubaki, Gates
Segments Covered	Product Type, Material, Application, Capacity, Regional
Key Market Opportunities	Rising demand in the automotive industry Growing infrastructure development Increasing use in the renewable energy sector Expansion in the manufacturing sector Technological advancements
Key Market Dynamics	1 Increasing demand for automation in manufacturing2 Growing adoption of Industry 40 technologies3 Government regulations driving energy efficiency4 Focus on reducing maintenance costs5 Rising demand for material handling equipment
Countries Covered	North America, Europe, APAC, South America, MEA

FAQs

What is the market size of the Industrial Sheaves and Pulley Market?

Industrial Sheaves Pulley Market is projected to register a CAGR of 3.42% from 2025-2035

Which region is expected to dominate the Industrial Sheaves And Pulley Market?

The Asia-Pacific region is expected to dominate the Industrial Sheaves And Pulley Market throughout the forecast period, with a significant market share due to the increasing industrialization and infrastructure development in the region.

What are the key applications of Industrial Sheaves and Pulleys?

Industrial Sheaves and Pulleys are primarily used in various applications across industries such as automotive, construction, mining, agriculture, and manufacturing, among others. They play a crucial role in transmitting power and motion in machinery and equipment.

Who are the major competitors in the Industrial Sheaves and Pulley Market?

Some of the key players in the Industrial Sheaves and Pulley Market include Dodge (RBC Bearings), Gates Corporation, Martin Sprocket Gear, Rexnord Corporation, and TSUBAKI KABELSCHLEPP GMBH, among others.

What are the factors driving the growth of the Industrial Sheaves and Pulley Market?

The Industrial Sheaves and Pulley Market is primarily driven by the increasing demand for industrial automation and the growing need for efficient power transmission solutions. Additionally, the rising construction and infrastructure development activities worldwide contribute to market growth.

What are the challenges faced by the Industrial Sheaves and Pulley Market?

The Industrial Sheaves and Pulley Market faces certain challenges, including intense competition, technological advancements leading to product obsolescence, and fluctuations in raw material prices. Moreover, stringent government regulations regarding environmental protection can also pose challenges for market growth.

What are the emerging trends in the Industrial Sheaves and Pulley Market?

The Industrial Sheaves and Pulley Market is witnessing several emerging trends, such as the integration of advanced technologies like IoT and AI, the adoption of lightweight materials, and the growing demand for customized solutions. Additionally, the increasing focus on energy efficiency and sustainability is creating opportunities for innovation in the market.

What are the opportunities for new entrants in the Industrial Sheaves and Pulley Market?

New entrants can explore opportunities in the Industrial Sheaves and Pulley Market by focusing on niche applications, developing innovative products, and partnering with established players to gain market share. Additionally, catering to the growing demand for aftermarket services and spare parts can provide opportunities for growth.

What is the impact of COVID-19 on the Industrial Sheaves And Pulley Market?

The COVID-19 pandemic had a moderate impact on the Industrial Sheaves And Pulley Market. While certain industries faced disruptions, the increasing demand for industrial automation and essential products in sectors like healthcare and food processing helped mitigate the overall impact. However, supply chain disruptions and labor shortages posed challenges during the pandemic.

What is the expected growth rate of the Industrial Sheaves and Pulley Market in the coming years?

Industrial Sheaves Pulley Market is expected to grow with a CAGR of 3.42% in the period 2025-2035

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