The global industrial gearbox market is projected to grow at 4.34% CAGR during the forecast period, 2019–2024. In 2018, the global industrial gearbox market was dominated by Asia-Pacific with a 31.45% share, followed by Europe and North America with shares of 23.20% and 19.59%, respectively. The demand for industrial gearbox is growing rapidly owing to various factors, including the growth in industrial automation in Europe and the rapid growth of the construction industry in developing nations.
The global industrial gearbox market has been segmented based on type, design, size (kW), torque, industry, and region. On the basis of type, the global industrial gearbox market has been segmented into planetary, helical, bevel, spur, worm, and others. The planetary segment is expected to grow at a faster rate during the forecast period. In 2018, the helical segment held a 29.43% share of the global industrial gearbox market.
On the basis of design, the global industrial gearbox market has been segmented as parallel axis, angled axis, and others. The parallel axis segment is expected to grow at the faster rate during the forecast period. In 2018, the parallel axis segment held a 55.04% share of the global industrial gearbox market.
On the basis of size (kW), the global industrial gearbox market has been segmented as small (up to 55 kW) and large (above 1 MW). The large (above 1 MW) segment is expected to grow at the faster rate during the forecast period. In 2018, the large (above 1 MW) segment held a 57.62% share of the global industrial gearbox market.
On the basis of torque, the global industrial gearbox market has been segmented into up to 50,000 Nm and above 50,000 Nm. The up to 50,000 Nm segment is expected to grow at the faster rate during the forecast period. In 2018, the above 50,000 Nm segment held a 52.33% share of the global industrial gearbox market.
On the basis of industry, the global industrial gearbox market has been segmented into power generation, construction, material handling, industrial, wind power, marine, others. The wind power segment is expected to grow at the faster rate during the forecast period. In 2018, the industrial segment held a 28.29% share of the global industrial gearbox market.
