According to FMI, the industrial gearbox market is expected to grow its revenue share from US$ 30.08 billion in 2023 to US$ 47.16 billion by 2033. Throughout the forecast period, the market is anticipated to exhibit a constant CAGR of 4.6%.
Government investments in the expansion of the power-generating industry are driving the demand for the industrial gearbox. Application of industrial gearbox in sectors including agriculture machinery, transportation, and food processing are driving the global industrial gearbox sector growth.
| Attributes | Details |
|---|---|
| Industrial Gearbox Market CAGR (2023 to 2033) | 4.6% |
| Industrial Gearbox Market Size (2023) | US$ 30.08 billion |
| Industrial Gearbox Market Size (2033) | US$ 47.16 billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
When compared to the 4.3% CAGR recorded between 2016 and 2022, the industrial gearbox business is predicted to expand at a 4.6% CAGR between 2023 and 2033. The slight increase in growth rate can be attributed to the introduction of high-end technologies like AI.
| Year | Market Value |
|---|---|
| 2016 | US$ 22.27 billion |
| 2021 | US$ 27.49 billion |
| 2022 | US$ 28.75 billion |
| 2030 | US$ 41.21 billion |
Short-term Growth (2023 to 2026): The market is anticipated to increase as a result of the rising demand for advanced industrial gearboxes, such as those with better torque capacity and higher power handling ability.
Medium-term Growth (2027 to 2029): It is anticipated that the market is benefiting from industry 4.0's quick adoption, along with other emerging technologies like the internet of things and artificial intelligence throughout this time.
Long-term Growth (2030 to 2033): It is expected that rising industrial activity, notably in the automotive, mining, and oil & gas industries, is likely to fuel the industrial gearbox sector's long-term expansion.
Given the aforementioned reasons, the industrial gearbox sector is predicted to develop by 1.04 times between 2022 and 2023.
Due to the growth of the robotics industry, the industrial gearbox business has recently experienced rising demand. To precisely manage the speed and torque of the robotic arms, gearboxes are now required as a result of the integration of robotics into industrial processes.
The need for industrial gearboxes is rising as the robotics sector expands and new technologies become accessible. Industrial gearbox manufacturers now have more prospects due to this technology. Gearboxes can be made to give more precise motion control for industrial processes, with the capacity to precisely regulate the movements of industrial robots.
As a result, industrial gearbox manufacturers are now significant providers of motion control components to the robotics industry. This has enhanced precision and efficiency in industrial processes.
Demand for industrial gearboxes has also been boosted by the development of autonomous robots. Autonomous robots can complete difficult jobs with little to no assistance from humans. This demands precise motion control, which is only possible with industrial gearboxes.
Principal Consultant
The market is expected to expand significantly over the next few years, as automation and smart manufacturing become more prevalent. To maximize production, cut costs, and enhance product quality, smart manufacturing entails integrating digital technologies into the manufacturing process.
This involves artificial intelligence (AI), the Internet of Things (IoT), and machine learning. The production process can be monitored and controlled in real time with the use of AI, IoT, and machine learning, which boosts productivity and efficiency.
Industrial gearbox demand is anticipated to increase as smart manufacturing becomes more prevalent since these gearboxes are utilized to regulate the speed and torque of production-related machinery and components. Given that industrial gearboxes are an essential part of the industrial automation process, the adoption of smart manufacturing is predicted to increase demand for these devices.
| Country | Market Value (2023) |
|---|---|
| United Kingdom | US$ 1.29 billion |
| United States | US$ 2.74 billion |
| China | US$ 8.59 billion |
| India | US$ 15.56 billion |
| Japan | US$ 1.3 billion |
From 2023 to 2033, the industrial gearbox market in the US is anticipated to expand at a CAGR of 5.1%. The market is anticipated to be driven by the rising demand for industrial gearboxes brought on by the expansion of the manufacturing and process sectors. It is anticipated that the industrial gearbox sector in the United States is likely to experience considerable growth due to the rising demand for sophisticated industrial gearbox technologies. It includes high power density, decreased noise, and extended life duration. It is also anticipated that the market is likely to increase as a result of the growing trend of automation and digitalization in industrial sectors. Additionally, measures to cut energy use and the development of smart factories are anticipated to further accelerate market expansion. However, it is anticipated that the high price of industrial gearboxes and the scarcity of experienced staff is likely to impede market expansion.
From 2023 to 2033, the market in the United Kingdom is anticipated to expand at a CAGR of 5.1%. The necessity for energy efficiency in industrial operations and the rising demand for industrial automation technology are the key drivers of this expansion. With a sizable number of businesses engaged in the industry, including Renold, David Brown, and SEW-Eurodrive, the United Kingdom is one of the top producers of industrial gearboxes in the world. The United Kingdom government has made several actions to encourage the development of the industrial gearbox industry there. This entails offering financial incentives for the use of energy-efficient technologies, like industrial gearboxes, as well as supporting sector-specific research and development initiatives. To help the creation of novel goods and technology in the market, the government has also set up a network of regional innovation hubs.
Asia Pacific: Industrial Gearbox Market's Emerging Automation Hub
| Country | India |
|---|---|
| CAGR (2016 to 2022) | 5.1% |
| CAGR (2023 to 2033) | 6.3% |
| Country | Japan |
|---|---|
| CAGR (2016 to 2022) | 3% |
| CAGR (2023 to 2033) | 4.5% |
| Country | China |
|---|---|
| CAGR (2016 to 2022) | 10.2% |
| CAGR (2023 to 2033) | 9.5% |
The Indian government has started several projects to encourage the manufacturing of industrial gearboxes in India. For instance, the National Manufacturing Competitiveness Programme (NMCP) has been established to offer small and medium firms (SMEs) in the industrial gearbox industry financial help and technical support.
The Make in India initiative, which the government also announced for the manufacturing industry, has accelerated the expansion of the industrial gearbox sector in India. In addition, several government-sponsored initiatives, including the Startup India Initiative and the Pradhan Mantri MUDRA Yojana (PMMY), are anticipated to fuel the expansion of the industrial gearbox market in India over the next several years.
The increased need for industrial gearboxes in industries like oil and gas, manufacturing, and mining is credited with this expansion. Additionally, it is anticipated that the government's emphasis on the development of renewable energy sources like wind and solar power propels the industry.
Key competitors in the industrial gearbox sector in China are concentrating on new product releases and partnerships with regional businesses to take advantage of the expanding demand. To increase the range of products it offers, the Chinese gearbox manufacturer NGC Group partnered with the American industrial firm Rexnord Corporation in April 2020.
The industrial sector's increased emphasis on energy efficiency and technology developments are the key causes of this expansion. Furthermore, it is anticipated that government programs to encourage the use of green technology, such as renewable energy, increase sales of industrial gearboxes in Japan. In Japan, businesses including Mitsubishi Heavy Industries, Sumitomo Heavy Industries, and Hitachi Ltd. are active in the industrial gearbox sector.
These businesses are concentrating on creating sophisticated gearboxes with increased efficiency and less noise. Additionally, these businesses are concentrating on giving their clients support and after-sales service.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Competitors Aim for Innovation to have a Strong Foot in the Market
Businesses consistently innovate to offer their clients high-quality goods and services to stay competitive. To keep ahead of their rivals and create new products and innovations, they are spending a lot of money on research and development.
To lower their entire manufacturing costs and maintain their competitiveness, they are also concentrating on cost-cutting initiatives. Companies are also concentrating on extending their geographic reach to acquire access to new markets and clients.
The industrial gearbox market size reaches US$ 30.08 billion in 2023.
The industrial gearbox market is set to surge at a 4.6% CAGR, reaching a noteworthy valuation of US$ 47.16 billion by 2033.
The industrial gearbox market demonstrated a 4.3% CAGR from 2018 to 2022.
The industrial gearbox market offers stakeholders opportunities in automation, renewable energy integration, and customized solutions.
India industrial gearbox market is lucrative, foreseeing a US$ 15.56 billion revenue potential by 2033, fueled by robust manufacturing and automation emphasis.
1. Executive Summary | Industrial Gearbox Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Type, 2023 to 2033 5.3.1. Worm Gearbox 5.3.2. Helical Gearbox 5.3.3. Bevel Helical Gearbox 5.3.4. Planetary Gearbox 5.3.5. Screw Gearbox 5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Design 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Design, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Design, 2023 to 2033 6.3.1. Parallel Axis 6.3.2. Angled Axis 6.4. Y-o-Y Growth Trend Analysis By Design, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Design, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End User, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End User, 2023 to 2033 7.3.1. Material Handling 7.3.2. Automotive 7.3.3. Construction 7.3.4. Power Generation 7.3.5. Mining 7.3.6. Food & Beverages 7.3.7. Manufacturing Industry 7.3.8. Agriculture 7.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. Asia Pacific 8.3.5. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Type 9.2.3. By Design 9.2.4. By End User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Design 9.3.4. By End User 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Type 10.2.3. By Design 10.2.4. By End User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Design 10.3.4. By End User 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Type 11.2.3. By Design 11.2.4. By End User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Design 11.3.4. By End User 11.4. Key Takeaways 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.1.4. Singapore 12.2.1.5. Thailand 12.2.1.6. Indonesia 12.2.1.7. Australia 12.2.1.8. New Zealand 12.2.1.9. Rest of Asia Pacific 12.2.2. By Type 12.2.3. By Design 12.2.4. By End User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Design 12.3.4. By End User 12.4. Key Takeaways 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of MEA 13.2.2. By Type 13.2.3. By Design 13.2.4. By End User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Design 13.3.4. By End User 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2022 14.1.2.1. By Type 14.1.2.2. By Design 14.1.2.3. By End User 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2022 14.2.2.1. By Type 14.2.2.2. By Design 14.2.2.3. By End User 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2022 14.3.2.1. By Type 14.3.2.2. By Design 14.3.2.3. By End User 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2022 14.4.2.1. By Type 14.4.2.2. By Design 14.4.2.3. By End User 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2022 14.5.2.1. By Type 14.5.2.2. By Design 14.5.2.3. By End User 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2022 14.6.2.1. By Type 14.6.2.2. By Design 14.6.2.3. By End User 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2022 14.7.2.1. By Type 14.7.2.2. By Design 14.7.2.3. By End User 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2022 14.8.2.1. By Type 14.8.2.2. By Design 14.8.2.3. By End User 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2022 14.9.2.1. By Type 14.9.2.2. By Design 14.9.2.3. By End User 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2022 14.10.2.1. By Type 14.10.2.2. By Design 14.10.2.3. By End User 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2022 14.11.2.1. By Type 14.11.2.2. By Design 14.11.2.3. By End User 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2022 14.12.2.1. By Type 14.12.2.2. By Design 14.12.2.3. By End User 14.13. Singapore 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2022 14.13.2.1. By Type 14.13.2.2. By Design 14.13.2.3. By End User 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2022 14.14.2.1. By Type 14.14.2.2. By Design 14.14.2.3. By End User 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2022 14.15.2.1. By Type 14.15.2.2. By Design 14.15.2.3. By End User 14.16. Australia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2022 14.16.2.1. By Type 14.16.2.2. By Design 14.16.2.3. By End User 14.17. New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2022 14.17.2.1. By Type 14.17.2.2. By Design 14.17.2.3. By End User 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2022 14.18.2.1. By Type 14.18.2.2. By Design 14.18.2.3. By End User 14.19. South Africa 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2022 14.19.2.1. By Type 14.19.2.2. By Design 14.19.2.3. By End User 14.20. Israel 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2022 14.20.2.1. By Type 14.20.2.2. By Design 14.20.2.3. By End User 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Type 15.3.3. By Design 15.3.4. By End User 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. Watt Drive Antriebstechnik GmbH 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Nidec Motor Corporation 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Dana Brevini Power Transmission 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. China High Speed Transmission Equipment Group Co. Ltd 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Johnson Electric Holdings Limited 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Sumitomo Heavy Industries Ltd. 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Bondioli and Pavesi S.p.A. 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Emerson Electric Co. 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Comer Industries 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. SEW Eurodrive 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Industrial Automation Insights
View Reports
Industrial Gearbox Market
