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Industrial Gears Market Analysis, Current Trends and Future Import/Export Prospects up to 2032

Industrial Gears Market Analysis, Current Trends and Future Import/Export Prospects up to 2032

The recent “Industrial Gears Market” report by Report Ocean gathers insights and assessments through genuine consultations with key stakeholders, including CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors. This comprehensive study aims to thoroughly examine the global industry, target market, competition, and various influencing factors. Ask for Free Sample Report

The report on the “Industrial Gears Market” conducts a data-driven quantitative analysis of the relevant industry. It utilizes research based on public records to identify significant patterns. Additionally, it provides predictions for the market sector’s growth between 2024 and 2032. The research primarily focuses on major global market manufacturers, analyzing sales volume, rates, competitive aspects, market share, and development strategies up to 2032.

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Global Industrial Gears Market Analysis and Growth Forecast:

The global Industrial Gears market held a market value of USD 204,052.2 Million in 2021 and is projected to reach USD 260,765.0 Million by the year 2027. The market is anticipated to grow at a CAGR of 4.2% from 2022 to 2027.

Industrial Gears are a system wherein the mechanical energy is transferred from one device to another. The market is expected to be driven by the rising number of installations in wind power sector and rapid growth of construction industry in developing nations is also estimated to fuel the market growth. Moreover, implementation of stringent government regulations for controlling noise pollution. Despite the driving factors, technical faults such as oil leakage and heating are likely to hinder the market growth.

Growth Influencers:

Rising number of installations in wind power sector

Industrial gears are used in wind turbines for increasing the rotational speed from a low-speed main shaft to a high-speed shaft, which connects with an electrical generator. Declining cost of the wind energy coupled with the growing investments in the wind power sector are leading to the growing number of industrial gear installations in the wind power sector. This is estimated to boost the market growth.

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Segments Overview:

The global Industrial Gears market is segmented into product type, application, and distribution channel.

By Product Type,
Spur Gear
Planetary Gear
Helical Gear
Rack and Pinion Gear
Worm Gear
Bevel Gear
Others

The spur gear segment is estimated to account for the largest market share of more than 25% in 2021 owing to their advantages for providing a wide range of transmission ratio. Also, it enables efficiency and easy processing in industrial equipment, which also boosts the market growth. The planetary gear segment is expected to witness the fastest growth rate of around 5.6% over the projected period owing to its wide range of applications in steel plants, wind turbines, mining, cement, and food & beverages industry, among others. The bevel gear segment holds an opportunity of around USD 6,030.3 million during 2021 to 2027 owing to their rising use in the automobile industry.

By Application,
Automotive
Aviation
Agricultural Machinery
Construction Machinery
Material Handling
Mining Equipment
Oilfield Equipment
Power Plants
Pulp and Paper
Steel and manufacturing
Others

The automotive segment is estimated to hold the largest share of more than 70% in 2021 owing to the growing automotive industry globally. The aviation segment and the oilfield equipment is anticipated to witness the highest growth rate of about 4.7% over the projected period owing to the rising adoption of technologically products in these industries. The construction machinery segment is estimated to surpass a revenue of USD 10,000 million by 2024 owing to the rising demand of industrial gears in manufacturing construction equipment.

By Distribution Channel,
OEMs
Aftermarket

The aftermarket segment is anticipated to witness the fastest CAGR of about 4.7% during the projected period owing to its rising usage by manufacturers for distribution of industrial gears.

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Regional Overview

By region, the global Industrial Gears market is divided into Asia Pacific, Europe, North America, Middle East, Africa, and South America.

The Asia Pacific region is expected to hold the largest market share of over 45% owing to the presence of Japan and China, which are the amongst the largest manufacturing countries globally.

North America region is estimated to surpass a market size of USD 50,000 million by 2025 owing to the rapid technological advancements. Moreover, Europe, South America, Middle East, and Africa regions are also expected to boost the market growth.

Competitive Landscape

The cumulative market share of the seven major players is more than 50%. These market players are involved in collaborations, mergers & acquisitions, and new product launches, among other initiatives, to strengthen their market presence. For instance, in January 2022, Stellantis N.V. increased its shareholding in GAS-Stellantis from 50% to 75% and this is set to expand the company?s presence in China. GAS Stellantis was formed in March 2010 by a joint venture between Stellantis and China Guangzhou Automobile Group Co., Ltd. (GAC Group).

Major players in the global Industrial Gears market as per various industrial areas are as follows:

Aircraft
Aero Gear Incorporated
Precipart Corporation
Wind Power
Itamco
Riley Gear Corporation
Atlas Gear Company
Farming
Ashoka Machine Tools Corporation
Hota Industrial Manufacturing Co., Ltd.
Automobiles
Bevel Gears India Pvt. Ltd.
Fiat Chrysler (Stellantis NV)
Ford
General Motors
Honda
Toyota
Construction
Caterpillar
Jackson Gear Company
Cleveland Gear Company
Agricultural Machinery
David Brown Inc.
Eaton
OKUBO GEAR Co., Ltd.
Material Handling
Elecon Engineering Company Limited
KHK Stock Gear
Martin Sprocket & Gear, Inc.
Mining
Overton Chicago Gear Corporation
Philadelphia Gear
Havlik International
Industrial Machinery
Omni G & M Corporation
Commercial Gear & Sprocket Company, Inc.
Gear Motions, Inc.
ZF Friedrichshafen

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The global Industrial Gears market report provides insights on the below pointers:

Market Penetration: Provides comprehensive information on the market offered by the prominent players

Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets

Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments

Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Industrial Gears market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.

Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Industrial Gears market report answers questions such as:

  • What is the market size and forecast of the Global Industrial Gears Market?
  • What are the inhibiting factors and impact of COVID-19 on the Global Industrial Gears Market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the Global Industrial Gears Market?
  • What is the competitive strategic window for opportunities in the Global Industrial Gears Market?
  • What are the technology trends and regulatory frameworks in the Global Industrial Gears Market?
  • What is the market share of the leading players in the Global Industrial Gears Market?
  • What modes and strategic moves are considered favorable for entering the Global Industrial Gears Market?

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Report Components

Market Synopsis: This section encapsulates the present market scenario and outlines the industry’s scope. It includes a comprehensive analysis of key segments such as product types, applications, and regions, with revenue and sales forecasts provided as part of this overview.

Competitive Landscape: Illuminating the market’s competitive terrain, this section presents an in-depth analysis of manufacturers, offering insights into individual players’ revenue and sales figures. Additionally, it encompasses noteworthy details on mergers, acquisitions, and industry investments.

Regional Analysis: Providing an overview of market revenue, sales, and shares across major regions and sub-regions, this segment also explores the pricing structure, sales growth rate, and other crucial estimations.

Company Profiles: This section provides strategic business insights about key firms operating within the market landscape. It covers product specifications, revenue shares, and portfolios of these major companies.

The Analysis Objectives of the Report are:

To determine the size of the Market by identifying its sub-segments.

To research the key players and analyze their growth strategies.

To assess the size and value of the Market based on key regions.

To analyze the Market in terms of growth trends, potential, and participation in the overall sector.

To investigate the Market size (volume and value) from the company, key regions/countries, goods and applications, and background data.

Primary Market manufacturers to specify, clarify, and analyze the product sales volume, value, market share, market rivalry landscape, SWOT analysis, and future development plans.

To investigate market competitive developments such as market expansions, agreements, new product launches, and acquisitions.

What is new in 2024?

– Major developments that can change the business landscape as well as market forecasts.

– Addition/refinement in segmentation–Increase in depth or width of segmentation of the market.

– Coverage of new market players and change in the market share of existing players of the market.

– Updated financial information and product portfolios of players operating in the market.

– Updated market developments of the profiled players.

– Any new data points/analysis (frameworks) which was not present in the previous version of the report

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