Industrial Gearbox Market (By Type: Helical Industrial Gearbox, Planetary Industrial Gearbox, Bevel Industrial Gearbox, Worm Industrial Gearbox, Screw Industrial Gearbox, Others; By Design: Parallel Axis, Angled Axis, Others; By End User: Material Handling, Automotive, Construction, Power Generation, Mining, Food & Beverages, Manufacturing Industry, Agriculture) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032
The global industrial gearbox market was estimated at US$ 28 billion in 2022 and is expected to hit US$ 43.69 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.60% from 2023 to 2032.
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The Asia-Pacific industrial gearbox market was valued at US$ 10.08 billion in 2022 and is projected to be worth US$ 16.19 billion by 2032, with a CAGR of 4.90% bewteen 2023 to 2032.
Asia-Pacific dominated the industrial gearbox market in 2022. China dominated the industrial gearbox market in North America region. The industrial gearbox is widely used in different sectors. In 2020, steel output is expected to increase by 6.5% over the previous year in China. This factor is driving the growth of industrial gearbox market. With 38.6 gigawatts installed wind capacity as of 2020, India is the world’s fourth largest onshore wind market by deployments. The factors such as growing demand for energy, rapid industrialization and urbanization, and rising initiatives for infrastructural development are boosting the growth of industrial gearbox market in Asia-Pacific region.
North America, on the other hand, is expected to develop at the fastest rate during the forecast period. The U.S. and Canada dominate the industrial gearbox market in North America region. The growing manufacturing sector and the existence of major market players operating in industrial gearbox market are propelling the expansion of industrial gearbox market in the region. In addition, the adoption of innovative technologies for reducing human interference in different industries is also driving the growth of industrial gearbox market in North America region.
The industrial gearbox is used for transferring energy from one device to another. The industrial gearbox is used for controlling the speed of devices and gadgets. The growth of global industrial gearbox market is being driven by the growing government investments for the development of power generation sector as well as growing applications of industrial gearbox in industries such as agriculture machinery, automobile, and food processing. In addition, the surge in demand for automotive parts is also driving the expansion of global industrial gearbox market.
The COVID-19 pandemic had negative impact on the growth of global industrial gearbox market. The players operating in automotive and automobile sectors had saw decline in revenue and sales. Volkswagen Group saw a 15% drop in vehicle sales in 2020 or 1,669.925 units, compared to the previous year. As a result, it expected an 11.8% decline in a global sales income in 2020. This factor has directly impacted the industrial gearbox market growth in a negative way. In addition, the halt of various business processes also had negative impact on the growth of global industrial gearbox market.
The rapid industrialization in developed and developing nations are driving the growth and development of global industrial gearbox market. The expansion of automobile industry is paving new way for the industrial gearbox market growth. As per the Mechanical Engineering Industry Association, the market revenue for comprehensive mechanical technology and digitalization industrial gearboxes in Germany was roughly $16.35 billion in 2017. Thus, the rising robotization is boosting the growth of global industrial gearbox market.
On the other hand, the global industrial gearbox market is experiencing challenges in terms of technical difficulties. In addition, the factors such as slow down of industrial activities are expected to restrict the growth of global industrial gearbox market. The growing automation can also have negative outlook on the expansion of global industrial gearbox market.
The other factors driving the growth and development of global industrial gearbox market is the rapid utilization of industry 4.0 combined with various technologies such as internet of things and artificial intelligence. In addition, the growing favorable government regulations in favor of noise pollution are supporting the growth of global industrial gearbox market. Furthermore, the growth of global industrial gearbox market is also being driven by the growing construction and building activities. Moreover, the growing need for clean energy is expanding the growth of power generation sector. The industrial gearboxes are widely used in power generation industry. As a result, all of these factors are driving the industrial gearbox market growth.
| Report Coverage | Details |
| Market Size by 2032 | USD 43.69 Billion |
| Growth Rate from 2023 to 2032 |
CAGR of 4.60% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Type, Design, End User, Geography |
| Companies Mentioned | Watt Drive Antriebstechnik GmbH, Nidec Motor Corporation, Dana Brevini Power Transmission, China High Speed Transmission Equipment Group Co. Ltd, Johnson Electric Holdings Limited, Sumitomo Heavy Industries Ltd., Bondioli and Pavesi S.p.A., Emerson Electric Co., Comer Industries, SEW Eurodrive |
The helical industrial gearbox segment dominated the industrial gearbox market in 2022. The parallel shafts and winding tooth lines are used in helical industrial gearbox. They have stronger teeth seamlessly blended and are quieter as well as the ability to transmit larger loads, making them ideal for elevated applications.
The planetary industrial gearbox segment is fastest growing segment of the industrial gearbox market in 2020. The planetary industrial gearbox is typically utilized as rotation multipliers. The automatic door openers, motorized wheels, and winches are among the most common applications of planetary industrial gearbox.
The parallel axis segment dominated the industrial gearbox market in 2022. The parallel axis industrial gearbox has simple mechanism for application in various industries. This type of industrial gearbox is highly efficient and runs with small and medium speeds. It is widely used in manufacturing sectors.
The angled axis segment is fastest growing segment of the industrial gearbox market in 2020. The angled axis industrial gearbox is produced at an angle of 90 degrees. The angled axis industrial gearbox is widely used in automotive and mechanical sectors.
The power generation segment dominated the industrial gearbox market in 2022. The surge in demand for energy and power combined with the rising awareness regarding renewable energy are driving the growth of global industrial gearbox market. The industrial gearbox has many benefits such as enhanced radial and axial load and reduced positioning time, which is driving the demand for industrial gearbox for power generation.
The manufacturing industry segment is fastest growing segment of the market in 2022. The developed and underdeveloped countries are progressing at a rapid growth rate in manufacturing industry. The manufacturing or production process of steel and cement requires industrial gearbox. This factor is boosting the global industrial gearbox market expansion.
Key Developments
Segments Covered in the Report
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By Type
By Design
By End User
By Geography
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Industrial Gearbox Market
5.1. COVID-19 Landscape: Industrial Gearbox Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Industrial Gearbox Market, By Product
8.1. Industrial Gearbox Market, by Product Type, 2023-2032
8.1.1. Helical
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Planetary
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Bevel
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Screw
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Worm
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Industrial Gearbox Market, By Design
9.1. Industrial Gearbox Market, by Design, 2023-2032
9.1.1. Parallel Axis
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Angled Axis
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Industrial Gearbox Market, By End User
10.1. Industrial Gearbox Market, by End User, 2023-2032
10.1.1. Material Handling
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Automotive
10.1.2.1. Market Revenue and Forecast (2020-2032)
10.1.3. Construction
10.1.3.1. Market Revenue and Forecast (2020-2032)
10.1.4. Power Generation
10.1.4.1. Market Revenue and Forecast (2020-2032)
10.1.5. Mining
10.1.5.1. Market Revenue and Forecast (2020-2032)
10.1.6. Food & Beverages
10.1.6.1. Market Revenue and Forecast (2020-2032)
10.1.7. Manufacturing Industry
10.1.7.1. Market Revenue and Forecast (2020-2032)
10.1.8. Agriculture
10.1.8.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Industrial Gearbox Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.2. Market Revenue and Forecast, by Design (2020-2032)
11.1.3. Market Revenue and Forecast, by End User (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.1.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.1.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.2. Market Revenue and Forecast, by Design (2020-2032)
11.2.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.2.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.2.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Design (2020-2032)
11.2.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Design (2020-2032)
11.2.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.2. Market Revenue and Forecast, by Design (2020-2032)
11.3.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.3.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.3.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Design (2020-2032)
11.3.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Design (2020-2032)
11.3.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.4.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.4.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Design (2020-2032)
11.4.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Design (2020-2032)
11.4.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Design (2020-2032)
11.5.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Design (2020-2032)
11.5.5.3. Market Revenue and Forecast, by End User (2020-2032)
Chapter 12. Company Profiles
12.1. Watt Drive Antriebstechnik GmbH
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Nidec Motor Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Dana Brevini Power Transmission
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. China High Speed Transmission Equipment Group Co. Ltd
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Johnson Electric Holdings Limited
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Sumitomo Heavy Industries Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Bondioli and Pavesi S.p.A.
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Emerson Electric Co.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Comer Industries
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. SEW Eurodrive
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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