Industrial Gearbox Market – Evaluation of Recent Industry Developments & Technological Breakthroughs Analysis

An industrial gearbox is defined as a mechanical process to transfer energy or power between automation systems, machinery, and process units. Industrial gearbox is located at the junction of the motor and power shaft. Industrial gears are vital components for the functioning of industrial equipment and products. Gearbox is classified into precision and standard. Construction and arrangement of gears are the differentiating factors of gearboxes. Industrial gears are upgraded with properties such as heavy duty construction and durable metal composition. Designing of gearbox is a complex procedure; without experience in this field, an engineer cannot be expected to cover all aspects of gearbox design. Industrial gears find application in several sectors including steel processing, steel manufacturing, material handling, machine tool industry, engineering industry, and in sugar, plastic, paper, and rubber industries.

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Industrial automation accounts for the largest share of the gearbox market and is estimated to lead the overall market in the coming years. The automotive industry is the major consumer of industrial gearbox. The evolution of the automotive industry in developing countries such as China, Japan, India and others is the primary growth factor for the industrial gearbox market. Furthermore, increasing need for robots in-built with scope of applications and high level of elegance, would drive the need for developing high precision gearboxes. Also, manufacturing overcapacity and rising labor costs in many regions is pushing manufacturers to replace labor with automation. Wind generation capacity is witnessing huge growth due to the declining cost of components used in wind turbines. Cost of wind turbine gearbox is reducing regularly due to factors such as developments in raw material sourcing and supply chain, evolving designs, larger economies of scale due to the increased demand for gearboxes, and entry of new players. The decreasing cost of gearboxes used in wind power generation would drive the growth of the industrial gearbox market. The market for industrial gearbox is cost sensitive, and hence the increasing prices of raw materials such as aluminum, hardened steel, stainless steels, bronze, brass, and cast iron is seen as a factor that may hinder the growth rate during the forecast period. To deal with this restraint, the vendors vary the size, shape, and design of the gears, and speed ratios as per the requirement to remain competitive in the market.

The industrial gearbox market has been segmented based on type, application, and region. In terms of type, the market has been classified as precision gearbox and standard gearbox. Based on application, the market has been segmented into construction & mining equipment, automotive, wind power, material handling, power generation, chemical and petrochemical, and agriculture. The industrial gearbox market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America on the basis of region. In terms of region, it is estimated that North America and Asia Pacific would be the major revenue contributors to the market throughout the forecast period.

Some of the key operating players in the industrial gearbox market are ABB, Brevini  Power Transmission, Siemens Ltd.,  David Brown Gear Systems, Emerson Electric, Bonfiglioli, Rexnord Corporation, SEW-EURODRIVE, Aero Gear, Nanjing High Speed & Accurate Gear Group Co., Ltd.,  AH Gears, Circle Gear & Machine Company Inc., Cone Drive Operations, C-B Gear & Machine Inc., Columbia Gear, Delta Research Corporation, Eurogear Inc, EXCEL GEAR, INC, GEARBOX EXPRESS, LLC, Gears & Gear Drives, Griffin Gear, HORSBURGH & SCOTT, Northstar Aerospace, Curtis Machine Company, Inc., Shanthi Gears Limited, Watt Drive Antriebstechnik, and Winergy. The key operating players in the market increasingly focus on the development and introduction of innovative products. To retain their market shares, companies are offering customized industry-specific gears. Intelligent integration of components is also a recent trend in this industry.

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