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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Industrial Gearbox Market

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