Overview and Scope
A gearbox and a gear motor refer to mechanical devices that control the speed, torque, and direction of motion in various machines and automatic apparatus. Gearboxes are commonly used in automobiles to control speed and increase torque by transmitting power from the engine to the wheels. The gear motor is widely used in automated systems, including conveyor belts, robotic arms, and manufacturing equipment.
Sizing and Forecast
The gear box and gear motor market size has grown strongly in recent years. It will grow from $16.3 billion in 2023 to $17.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rapid growth in heavy machinery, early adoption in aviation and aerospace, pioneering industry applications, world wars and defense machinery, rise of automation and robotics..
The gear box and gear motor market size is expected to see steady growth in the next few years. It will grow to $20.81 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to demand in renewable energy sector, automation and industrial robotics expansion, emphasis on lightweight and compact solutions, rise in industry 4.0 implementation, growing preference for energy-efficient solutions.. Major trends in the forecast period include development of maintenance-free solutions, customization and tailored solutions, focus on noise reduction and vibration control, adoption of gearless direct drive systems, growing emphasis on electric vehicles (evs)..
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Segmentation & Regional Insights
The gear box and gear motor market covered in this report is segmented –
1) Product Type: Gear Box, Gear Motors
2) By Gear Type: Spur Gear, Helical Gear, Bevel Gear, Worm Gear, Planetary Gear, Cycloidal Gear
3) By Distribution Channel: Direct Sales, Indirect Sales
4) By End-Use Industry: Wind Power, Material Handling, Food And Beverage, Cement And Aggregates, Metals And Mining, Pharmaceutical, Construction Power Generation, Chemicals, Marine, Other End-Use Industries
Asia-Pacific was the largest region in the gear box and gear motors market in 2023. Middle East And Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the gear box and gear motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The expansion of the construction industry is expected to propel the growth of the gearbox and gear motor market going forward. The construction industry refers to the sector of the economy involved in the planning, design, development, construction, renovation, and maintenance of physical structures and infrastructure. Gearboxes and gear motors are frequently used in the construction industry’s heavy equipment, such as bulldozers and excavators, to regulate the speed and torque of hydraulic systems, enabling the precise movement of tools and attachments. For instance, in July 2022, according to Statistics Poland, a Poland-based government executive agency, 109,400 residences were completed in the first half of 2022, which is 3.8% more than in the previous year. Developers completed 62,900 homes, up 3.7% from 2021, while private investors completed 44,900 dwellings, an increase of 6.0%. Therefore, rising residential building construction is driving the growth of the gearbox and gear motor market.
Key Industry Players
Major companies operating in the gear box and gear motor market report are Mitsubishi Electric Corporation, Hitachi Ltd., Siemens AG, ABB Ltd., Toshiba Corporation, Eaton Corporation PLC, Emerson Electric Co., Danfoss A/S, Dana Incorporated, Sumitomo Heavy Industries, Bosch Rexroth, WEG Industries, Regal Rexnord Corporation, SEW-EURODRIVE GmbH & Co KG, Johnson Electric Holdings Limited, Nord Drivesystems, TECO Electric & Machinery Co. Ltd., Lenze Gruppe, ElectroCraft Inc., Elecon Engineering Company Ltd., TECO-Westinghouse Motors, Bonfiglioli Transmissions Private Limited, Bauer Gear Motor, Varvel SpA, Flender Group, Rossi Group LLC, Bison Gear and Engineering, NER Group Co. Ltd, Sha Yang Ye Industrial
The gear box and gear motor market report table of contents includes:
1. Executive Summary
2. Gear Box And Gear Motor Market Characteristics
3. Gear Box And Gear Motor Market Trends And Strategies
4. Gear Box And Gear Motor Market – Macro Economic Scenario
5. Global Gear Box And Gear Motor Market Size and Growth
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32. Global Gear Box And Gear Motor Market Competitive Benchmarking
33. Global Gear Box And Gear Motor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Gear Box And Gear Motor Market
35. Gear Box And Gear Motor Market Future Outlook and Potential Analysis
36. Appendix
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