Global Industrial Gearbox Market Thrives
Global Industrial Gearbox Market Thrives

Industrial Gearbox Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Industrial Gearbox Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The market size of the global industrial gearbox is expected to grow to $36.43 billion in 2027 at a CAGR of 5.0%”

— The Business Research Company

LANDON, GREATER LANDON, UK, January 4, 2024 / — The global industrial gearbox market has experienced substantial growth, with the market size expanding from $28.59 billion in 2022 to $30 billion in 2023, representing a commendable Compound Annual Growth Rate (CAGR) of 4.9%. The momentum is expected to persist, propelling the market size to $36.43 billion in 2027, sustaining a CAGR of 5.0%. This growth is attributed to several factors, with the rising adoption of industrial automation emerging as a pivotal driver.

Automation Spurs Growth

A key catalyst for the global industrial gearbox market’s upward trajectory is the increasing adoption of industrial automation. Industrial automation systems, characterized by computerized processes that regulate and monitor activities, have become integral in optimizing efficiency. These systems operate autonomously, reducing reliance on human labor and enhancing productivity. A survey conducted in 2021 highlighted that robots are an integral part of 44.9% of assembly and manufacturing facilities, with collaborative robots (cobots) utilized by 34.9% of respondents. The remaining 65.1% leverage industrial robots, underscoring the growing significance of automation in various industries.

Explore the Global Industrial Gearbox Market with a Detailed Sample Report:

Major Players Steering the Market

Leading players in the industrial gearbox market include Bondioli & Pavesi S.p.A., Johnson Electric Holdings Limited, Siemens AG, Sumitomo Heavy Industries Ltd., David Brown, China High-Speed Transmission Equipment Group Co. Ltd., Rexnord, Cone Drive Operations, Curtis Machine Company, GearTech Inc., Essential Power Transmission Pvt. Ltd., Griffin Gear Inc., Precipart Corporation, NORD drive systems Pvt. Ltd., Allied Precision Gears Inc., Renold PLC, and Ashoka Machine Tools Corporation. These industry giants play a pivotal role in shaping the trajectory of the industrial gearbox market.

Innovation Drives Market Dynamics

A notable trend in the industrial gearbox market is the emphasis on product innovation. Companies within the market are actively engaged in developing cutting-edge products to enhance their market positioning. For instance, Sumitomo Drive Technologies, a US-based manufacturer, launched the Hansen M5CT industrial gearbox in October 2020. This innovative product is a forward-looking development that draws from the experience of three existing product lines, reflecting the industry’s commitment to continuous innovation.

Regional Dynamics: Asia-Pacific Takes the Lead

In 2022, Asia-Pacific emerged as the largest region in the industrial gearbox market, underscoring the region’s significant contribution to market growth. Furthermore, Asia-Pacific is anticipated to be the fastest-growing region in the forecast period. The comprehensive industrial gearbox market analysis covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Segmentation Insights: Diverse Types and Applications
The industrial gearbox market is segmented based on:

1. Type: Planetary, Helical, Bevel, Spur, Worm, Other Types
2. Design: Parallel Axis, Angled Axis, Other Designs
3. Application: Construction and Mining Equipment, Automotive, Chemicals, Rubber and Plastic, Wind Power, Material Handling

Access the Complete Report for In-Depth Analysis:

Industrial Gearbox Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Industrial Gearbox Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on industrial gearbox market size, industrial gearbox market drivers and trends, industrial gearbox market major players, competitors’ revenues, market positioning, and market growth across geographies. The industrial gearbox market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:

Industrial Controls Global Market Report 2023

Industrial Process Variable Instruments Global Market Report 2023

Industrial Sensor Global Market Report 2023

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 6500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]

Check out our:
Healthcare Blog:
Global Market Model:

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
[email protected]
Visit us on social media:

Oil and Gas Sensors Market Growth Forecast 2024-2027

Originally published at

Previous articleA Year in Review – Abey Blockchain and InterWorld Developments in 2023
Next articleWNBA Superstar Elena Delle Donne Launches Deldon Wines