Advances in the world gears market will average 6.0 percent per year through 2019, reaching $221 billion in that year. Growth will be fueled by durable goods output gains and the increasing use of more sophisticated gears in automotive applications. The rise of new markets for gears, such as wind and solar energy systems, will also be a major contributing factor.
This report segments the world gears market by product. Data is provided in millions of US dollars.
Major gear products covered in this study include:
Vehicular Gear Assemblies (Powertrain, Steering)
Other Gear Assemblies (Speed Reducer & Changer, Gearmotor & Other Assemblies)
Vehicular gear assemblies are by far the most widely used product type, accounting for nearly four-fifths of all product sales in 2014. However, the other gear assemblies segment will register the fastest gains through 2019. In large part, growth will be driven by a surge in gear assembly sales for several small but rapidly-growing end use markets, particularly solar and wind energy systems. Demand for other gear assemblies will also rise because of advances in global machinery production and the introduction of more expensive products.
Among the gear markets covered in this study are:
Motor vehicles, which accounted for 73 percent of product sales in 2014, are by far the largest market for gears. Through 2019, motor vehicles will account for more than two-thirds of all new gear demand, as global motor vehicle production expands at a healthy pace.
Historical demand and forecasts for 19 countries in the following regions are presented in this report:
Central & South America
The global gear industry includes thousands of manufacturers, ranging from small companies that manufacture just a few product types to large, fully integrated multinational corporations that have extensive gear portfolios. A number of major acquisitions and divestitures have occurred in recent years. Among the world’s leading suppliers of gears are Aisin Seiki, Eaton, Fiat Chrysler Automobiles, Ford, General Motors, GETRAG, Honda, Hyundai, Toyota, Volkswagen, and ZF Friedrichshafen.