The global industrial gearbox market size was valued at USD x billion in 2021 and is poised to grow at a significant CAGR of x% during the forecast period 2023-29. The primary factors that drive the market are the rising necessity for automotive parts, rising industrialization of both developing and developed countries, and an increase in the automobile industry. The global industrial gearbox market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

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The global industrial gearbox market segmentation:

  • By Product Type: Planetary, Helical, Bevel, Spur, Worm, and Other
  • By Design Type: Parallel axis, Angular axis, and Others
  • By Industry: Wind Power, Cement & Aggregates, Chemical, Rubber & Plastics, Construction, Food & Beverage, Marine, Material Handling, Metals & Mining, Power Generation, Recreational Vehicle, Transportation Industry, Agriculture, Automotive, and Others

Based on product type, the helical gearbox holds the highest market share. The major factor for the rise of this segment is that it is used in heavy as well as medium-duty industrial applications in automobile communications, as it has the ability of high loads and handles high speeds. Integrated construction and design provide many performances and engineering advantages. These factors can drive the global industrial gearbox market growth. With the increase in the sale of EVs, the expansion of inexpensive all-electric transmission powertrains provides an important growth opportunity for the helical gearbox market.

North America Industrial Gearbox Market

The Asia Pacific leads the global industrial gearbox market growth. The North American region is expected to grow significantly in the global industrial gearbox market over the forecast period. The North American region is expanding as a result of rising mineral production from mining industries and massive potential assets to explore hydrocarbons. Apart from this, attractive government funds to grow oil and gas from these tanks and the installation of energy-effective techniques can drive market growth further.

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Key players’ profiles in the Industrial Gearbox market report are David Brown (UK), Kumera Corporation (Finland), Parsons Peebles LTD (UK), Sumitomo Heavy Industries Ltd (Japan), Fluor Corporation (US), Triveni Engineering & Industries Ltd (India), PG Drive (India), GearTec (US), Sew-Eurodrive (Germany), Elecon Group Company Limited (India), Artec Machine Systems (US), Dana Limited (US), GBS Gearbox Services (Switzerland), and Unico Mechanical (US)

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