GLOBAL INDUSTRIAL GEARBOX MARKET 2020-2024
Global Industrial Gearbox Market 2020-2024
Technavio has been monitoring the global industrial gearbox market and it is poised to grow by USD 9.91 bn during 2020-2024, progressing at a CAGR of 4% during the forecast period. Our reports on global industrial gearbox market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by adoption of industrial automation.In addition, growing repair and re-manufacture market for gearboxes used in high-performance applications is anticipated to boost the growth of the global industrial gearbox market as well.
Technavio's global industrial gearbox market is segmented as below:
- Standard Gearbox
- Precision Gearbox
- Power Generation
- Oil & Gas
- General Machinery
- North America
- South America
Key Trends for global industrial gearbox market growth
This study identifies growing repair and re-manufacture market for gearboxes used in high-performance applications as the prime reasons driving the global industrial gearbox market growth during the next few years.
Prominent vendors in global industrial gearbox market
We provide a detailed analysis of around 25 vendors operating in the global industrial gearbox market, including some of the vendors such as ABB Ltd., Bonfiglioli Riduttori SpA, China High Speed Transmission Equipment Group Co. Ltd., Elecon Engineering Co. Ltd., Rexnord Corp., SEW-EURODRIVE, Siemens AG, Sumitomo Heavy Industries Ltd., THE TIMKEN Co. and Triveni Engineering & Industries Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.