Gearbox Market is anticipated to reach US$33.857 billion by 2029 at a CAGR of 4.65%

The gearbox market is anticipated to grow at a CAGR of 4.65% from US$24.639 billion in 2022 to US$33.857 billion by 2029.

NOIDA, UTTAR PARDESH, INDIA, April 8, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the gearbox market is projected to grow at a CAGR of 4.65% between 2022 and 2029 to reach US$33.857 billion by 2029.

The market for gearboxes is essential to many different industries, including manufacturing, aerospace, and automotive. It includes a broad range of products, such as dual-clutch transmissions (DCTs), continuously variable transmissions (CVTs), and manual and automatic transmissions. This market is being driven by factors such as the growing need for fuel-efficient automobiles, the development of industrial automation, and technological developments like electric and hybrid vehicles. The market is growing as a result of emerging economies that are rapidly industrializing. Major players in this market focus on sustainability, efficiency, and dependability to stay competitive and support a wide range of consumer needs. They also continuously innovate to match changing industry expectations.

An engine or motor can be used as a source of power, and a gearbox is a mechanical device that transfers that power to the required output speed and torque. It does this by adjusting the rotational speed ratio of the input to the output. Usually, a system of gears with various sizes and layouts is used to do this. In many different applications, such as power transmission systems, industrial machinery, and automobiles, gearboxes are indispensable. They offer adaptability, enabling machines to run effectively at various speeds and loads. diverse types of gearboxes, such as continuously variable, automatic, and manual transmissions, are available to meet diverse purposes.

The market is witnessing multiple collaborations and technological advancements, for instance, ABB added the IRB 1090 to its growing list of educational offerings in November 2023, at the Vrac Tech Exhibition, Dana Incorporated debuted its line of Brevini EvoMax helical and bevel helical gears for industrial bulk handling applications. Gearboxes made by Brevini EvoMax are engineered to maximize the efficiency of bulk material handling and mining machinery, including wagon tipplers, conveyors, stacker reclaimers, and ship loading and unloading apparatus. The product line has torque ranges ranging from 8,000 Nm to 310,000 Nm, providing a high degree of modularity and versatility. Additionally, Dana also advertises its whole array of services, which includes engineering, systems design, procurement, installation, and maintenance, for bulk management equipment makers and owners.

Access sample report or view details: https://www.knowledge-sourcing.com/report/global-educational-robots-market

Based on type it is segmented into concentric, parallel, and others. It is projected that the parallel gearbox market will increase significantly in the upcoming years. When compared to concentric gearboxes, parallel gearboxes have an advantage in terms of efficiency, power transmission capacity, and load distribution. They are frequently utilized in heavy-duty applications like industrial gear, construction equipment, and huge vehicles where precision power transfer is essential. Parallel gearboxes have become lighter and more compact as a result of improvements in manufacturing technology, which has increased their use across a range of sectors. The demand for dependable and high-performance power transmission solutions from various sectors is anticipated to fuel further expansion in the parallel gearbox market.

Based on gear type it is segmented into spur gear, worm gear, bevel gear, helical gear, and others. The helical gear market is one of the gear kinds with the most room to grow. Compared to other gear kinds, helical gears have more benefits, such as increased load-bearing capacity, increased efficiency, and smoother operation. Because of their angled teeth, which engage gradually, these gears operate with less noise and vibration. They are extensively utilized in applications including automotive gearboxes, industrial machinery, and aerospace systems that need accurate motion control and high-speed transmission. Additionally, helical gears are now more widely available and less expensive because of improvements in manufacturing processes like gear hobbing and CNC machining. Industry emphasis on dependability and performance means that the helical gear market should continue to expand.

Based on the end-user market is segmented into automotive, aerospace and defence, manufacturing, construction, and others. In the gearbox market, the manufacturing and construction sector is expected to rise at a substantial rate. The need for machinery and equipment in manufacturing operations, infrastructure development, and building projects globally is driving this increase. Conveyor systems, pumps, compressors, heavy construction machines, and other pieces of equipment are just a few of the many pieces of machinery and equipment that these industries utilize, and gearboxes are vital to their operation. Further fueling demand within the industrial and construction sector is the growing requirement for modern gearbox solutions that offer more torque, precision, and dependability as sectors strive for increased efficiency, productivity, and automation.

For several reasons, the gearbox market in the Asia-Pacific area is expected to grow rapidly. The need for machinery and equipment is rising due to rapid industrialization, especially in China, India, and South Korea. This is increasing the need for gearboxes in a variety of industries, including the automotive, manufacturing, and construction sectors. The need for power transmission systems is also being fueled by an increase in infrastructure projects and the growth of the manufacturing sector. Furthermore, by improving the efficiency and performance of gearboxes, technical developments and the use of automation are propelling market expansion even further, making the Asia-Pacific region a major force behind the worldwide gearbox market.

As a part of the report, the major players operating in the global gearbox market that have been covered are NGC Group, Boneng Transmission, Flender (Carlyle), JS Gears, Chongqing Gearbox Co. Ltd. (China State Shipbuilding Corporation Limited), Sumitomo Heavy Industries Ltd., ZF Friedrichshafen AG (Zeppelin-Stiftung), ACE World Companies, STOBER Drives Inc, and Horsburgh & Scott.

The market analytics report segments the global gearbox market on the following basis:

• BY TYPE

o Concentric

o Parallel

o Others

• BY GEAR TYPE

o Spur Gear

o Worm Gear

o Bevel Gear

o Helical Gear

o Others

• BY END-USER

o Automotive

o Aerospace & Defence

o Manufacturing

o Construction

o Others

• BY GEOGRAPHY

o North America

• USA

• Canada

• Mexico

o South America

• Brazil

• Argentina

• Others

o Europe

• Germany

• France

• UK

• Spain

• Others

o Middle East and Africa

• Saudi Arabia

• UAE

• Others

o Asia Pacific

• China

• Japan

• India

• South Korea

• Australia

• Others

Companies Profiled:

• NGC Group

• Boneng Transmission

• Flender (Carlyle)

• JS Gears

• Chongqing Gearbox Co. Ltd. (China State Shipbuilding Corporation Limited)

• Sumitomo Heavy Industries Ltd.

• ZF Friedrichshafen AG (Zeppelin-Shiftung)

• ACE World Companies

• STOBER Drives Inc.

• Horsburgh & Scott

Explore More Reports:

• Gear Oils Market: https://www.knowledge-sourcing.com/report/gear-oils-market

• Bevel Gears Market: https://www.knowledge-sourcing.com/report/bevel-gears-market

• Helical Gears Market: https://www.knowledge-sourcing.com/report/helical-gears-market

Ankit Mishra
Knowledge Sourcing Intelligence LLP
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