North America Industrial Gearbox Market Outlook, 2029
The North America Industrial Gearbox Market is segmented into By Type (Helical, Planetary, Bevel, Spur, Worm, Others (Coaxial Helical Inline Gearbox, Bevel Helical Gearbox, Skew Bevel Helical Gearbox, Planetary Worm Gearbox)), By Design (Parallel axis, Angular axis, Others (non-coplanar and non-parallel axis)), By Application (Energy and Power Generation, Construction Industry, Food and Beverage Industry, Manufacturing Industry, Mining and Minerals Industry, Agriculture and Farming, Others (Water and Wastewater Treatment, Steel and Metal Industry)).
- Bonafide Research
- 31-01-2024
- Pages : 83
- Figures : 12
- Tables : 20
- Region : North America
- Category : Manufacturing & Industry
- Machinery, Parts & Equipment
The North America Industrial Gearbox market was valued at more than USD 8 Billion in 2023 due to expansion in manufacturing sector
- Historical Period2018-2023
- Base Year2023
- Forecast Period2024-2029
- Market Size (2023) USD 8 Billion
- Largest Market United States
- Fastest Market United States
- Format
Featured Companies
- 1. Emerson Electric Co.
- 2. ABB Group
- 3. Siemens AG
- 4. Sumitomo Heavy Industries
- 5. The Timken Company
- 6. Regal Rexnord Corporation
- More...
Industrial Gearbox Market Market Analysis
Economic performance, as indicated by GDP growth, is a crucial determinant of industrial activity. A growing economy in North America often leads to increased manufacturing and infrastructure projects, driving the demand for industrial gearboxes. The North American industrial gearbox market is influenced by global trade dynamics, including raw material prices and geopolitical factors that impact the supply chain. Ongoing advancements in materials, design, and manufacturing processes contribute to the development of more efficient, durable, and compact industrial gearboxes. Manufacturers continually innovate to meet the evolving needs of industries. Competing in this vibrant market are both domestic and international players, engaged in a perpetual race for excellence. Product innovation, quality enhancements, and the provision of comprehensive after-sales services are key elements in the competitive landscape. Customisation is another hallmark, with manufacturers tailoring gearbox solutions to meet the specific requirements of different industries. Furthermore, government-led initiatives for infrastructure development, such as road construction, energy projects, and public facilities, can boost the demand for industrial gearboxes. These components are essential in heavy machinery used in construction and infrastructure projects. The North American industrial gearbox market is influenced by continuous technological advancements. Manufacturers are integrating smart technologies, sensors, and monitoring systems into industrial gearboxes for improved performance and maintenance. According to the research report, “North America Industrial Gearbox Market Outlook, 2029,” published by Bonafide Research, the North America Industrial Gearbox market was valued at more than USD 8 Billion in 2023. The growth and expansion of the manufacturing sector in North America lead to increased demand for machinery components, such as industrial gearboxes, which play a crucial role in the production processes. The energy sector, including both traditional and renewable energy projects, relies on industrial gearboxes for various applications. The development and expansion of energy projects contribute to the demand for these critical components. Infrastructure development, including construction and transportation projects, often requires heavy machinery equipped with industrial gearboxes. The demand for such projects influences the overall demand for industrial gearboxes. Industries across North America are placing a growing emphasis on energy efficiency and sustainability. Upgrading to more energy-efficient industrial gearboxes becomes a priority for companies looking to reduce operational costs and environmental impact. The demand for specialised and customised industrial gearboxes tailored to specific industry requirements contributes to market growth. Different sectors often require gearbox solutions that align with their unique operational needs. The interconnected nature of the global economy means that North American industries are influenced by global trade dynamics, including raw material prices and geopolitical factors that impact the supply chain.
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Download SampleMarket Dynamic
Market Drivers • Manufacturing Sector Growth: The growth of the manufacturing sector in North America is a significant driver for the industrial gearbox market. Increased manufacturing activities require machinery equipped with industrial gearboxes, contributing to the demand for these components. • Industrial Automation and Industry 4.0: The adoption of industrial automation and Industry 4.0 practices is a driving force in the demand for advanced industrial gearboxes. Automated manufacturing processes often require precise and efficient power transmission, leading to the need for technologically advanced gear systems. Market Challenges • Cost Pressure: The competitive nature of the industrial gearbox market may lead to cost pressures on manufacturers. Companies must balance the need to offer cost-effective solutions with the rising costs of materials, labour, and technology. • Increasing Competition: The presence of both domestic and international manufacturers intensifies competition within the industrial gearbox market. Companies need to continuously innovate, enhance product offerings, and differentiate themselves to maintain a competitive edge. Market Opportunity • Energy-Efficient Solutions: The growing emphasis on energy efficiency across industries creates a demand for energy-efficient industrial gearboxes. Manufacturers can seize this opportunity by developing gear systems that reduce energy consumption and enhance overall operational efficiency. • Advanced Material Technologies: The development and adoption of advanced materials, such as high-strength alloys and composites, present opportunities to enhance the performance and durability of industrial gearboxes, making them more efficient and reliable.
Industrial Gearbox Market Segmentation
| By Type | Helical | |
| Planetary | ||
| Bevel | ||
| Spur | ||
| Worm | ||
| Others (Coaxial Helical Inline Gearbox, Bevel Helical Gearbox, Skew Bevel Helical Gearbox, Planetary Worm Gearbox) | ||
| By Design | Parallel axis | |
| Angular axis | ||
| Others (non-coplanar and non-parallel axis) | ||
| By Application | Energy and Power Generation | |
| Construction Industry | ||
| Food and Beverage Industry | ||
| Manufacturing Industry | ||
| Mining and Minerals Industry | ||
| Agriculture and Farming | ||
| Others (Water and Wastewater Treatment, Steel and Metal Industry) | ||
| North America | United States | |
| Canada | ||
| Mexico | ||
Based on the types, which include helical, planetary, bevel, spur, worm, and others, among them in North America, helical is the leading market. In terms of design types, they are bifurcated into the parallel axis, angular axis, and others. In North America, the manufacturing industry extensively uses helical industrial gearboxes in various machinery and production lines. These gearboxes are employed in applications such as conveyor systems, material handling equipment, and processing machinery. Helical gears are known for their high efficiency and precision. The tooth engagement in helical gear systems is gradual and smooth, leading to less noise and vibration compared to other gear types. This makes helical industrial gearboxes suitable for applications where precision and reduced noise levels are critical. Helical gears are well-suited for applications that require high-torque transmission. This makes them suitable for heavy-duty industrial processes where the gearbox needs to withstand significant loads. The helical gearboxes are versatile and can be adapted to various applications across different industries. They are suitable for a wide range of power transmission needs, making them a preferred choice in industries such as manufacturing, mining, and energy. Furthermore, the angular axis as a design type is a growing segment in the region. Advances in manufacturing processes, including precision machining and material technologies, have allowed for the production of high-quality angular axis gearboxes. Improved manufacturing capabilities contribute to the reliability and performance of these gearboxes. With the increasing adoption of automation and robotics in industries such as manufacturing and logistics, the demand for angular-axis gearboxes has grown. These gearboxes are often used in robotic arms and automation systems where precision and compact design are essential. According to the report, the applications are segmented into the Energy and Power Generation, Construction Industry, Food and Beverage Industry, Manufacturing Industry, Mining and Minerals Industry, and Agriculture and Farming. In North America, the manufacturing industry leads the industrial gearbox market. Heavy machinery, including presses, mixers, and conveyors, is frequently used in manufacturing processes; for this reason, reliable and effective power transmission systems are needed. The need for industrial gearboxes in the manufacturing industry is fueled by their need as integral parts of this equipment. There are many other sub-sectors within the manufacturing business, such as automotive, aerospace, food and beverage, chemicals, and more. The machinery and equipment requirements of each of these sub-sectors are distinct, and industrial gearboxes are employed in a variety of applications to satisfy these varied needs. The trend towards automation and robotics in manufacturing processes has increased the demand for precision gear systems. Industrial gearboxes play a critical role in the operation of robotic arms, automated production lines, and other automated systems. Furthermore, material handling is a crucial aspect of manufacturing, involving the movement of raw materials and finished products within facilities. Conveyors, lifts, and other material handling equipment rely on industrial gearboxes for reliable power transmission. In North America, manufacturing processes often require customised solutions to meet specific operational needs. Industrial gearbox manufacturers provide customised gear systems tailored to the unique requirements of different manufacturing applications.
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Industrial Gearbox Market Market Regional Insights
Based on the report, the major countries covered in the report include the United States, Canada, Mexico, and the rest of North America. The United States has one of the largest and most diverse manufacturing sectors in the region. A broad range of industries, including automotive, aerospace, machinery, energy, and more, heavily rely on industrial gearboxes for various applications. The U.S. is a hub for technological innovation. American companies are at the forefront of adopting and integrating advanced technologies, including sophisticated industrial gearboxes, to enhance efficiency, precision, and productivity in manufacturing processes. The USA is home to significant automotive and aerospace industries, both of which are major consumers of industrial gearboxes. These industries demand high-performance and specialised gear systems for their manufacturing operations. Furthermore, the development of the energy sector, including oil and gas as well as renewable energy projects, involves the use of industrial gearboxes. The USA's diverse energy landscape contributes to the demand for gear systems in various applications. Ongoing infrastructure projects, such as construction and transportation initiatives, generate demand for industrial gearboxes. These gear systems are vital components in heavy machinery used in construction and infrastructure development. The USA is a leader in adopting automation and robotics in manufacturing processes. Industrial gearboxes play a critical role in automated systems, providing the necessary power transmission for precision and efficiency. Furthermore, U.S. manufacturers prioritise global competitiveness, driving the adoption of advanced technologies and efficient machinery, including industrial gearboxes. Staying competitive in the global market requires the use of high-quality and reliable equipment.
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Key Development
Companies Mentioned
- Emerson Electric Co.
- ABB Group
- Siemens AG
- Sumitomo Heavy Industries
- The Timken Company
- Regal Rexnord Corporation
- Renold plc
- Dana Incorporated
- Nidec Corporation
- Comer Industries SpA
- Elecon Engineering Company Limited
- China High Speed Transmission Equipment Group Company, Ltd
Table of Contents
- Table of Contents
- 1. Executive Summary
- 2. Research Methodology
- 2.1. Secondary Research
- 2.2. Primary Data Collection
- 2.3. Market Formation & Validation
- 2.4. Report Writing, Quality Check & Delivery
- 3. Market Structure
- 3.1. Market Considerate
- 3.2. Assumptions
- 3.3. Limitations
- 3.4. Abbreviations
- 3.5. Sources
- 3.6. Definitions
- 4. Economic /Demographic Snapshot
- 5. Global Industrial Gearbox Market Outlook
- 5.1. Market Size By Value
- 5.2. Market Share By Region
- 5.3. Market Size and Forecast, By Types
- 5.4. Market Size and Forecast, By Design
- 5.5. Market Size and Forecast, By Application
- 6. North America Industrial Gearbox Market Outlook
- 6.1. Market Size By Value
- 6.2. Market Share By Country
- 6.3. Market Size and Forecast, By Types
- 6.4. Market Size and Forecast, By Design
- 6.5. Market Size and Forecast, By Application
- 7. Market Dynamics
- 7.1. Market Drivers & Opportunities
- 7.2. Market Restraints & Challenges
- 7.3. Market Trends
- 7.4. Covid-19 Effect
- 7.5. Supply chain Analysis
- 7.6. Policy & Regulatory Framework
- 7.7. Industry Experts Views
- 7.8. United States Industrial Gearbox Market Outlook
- 7.8.1. Market Size By Value
- 7.8.2. Market Size and Forecast By Types
- 7.8.3. Market Size and Forecast By Design
- 7.8.4. Market Size and Forecast By Application
- 7.9. Canada Industrial Gearbox Market Outlook
- 7.9.1. Market Size By Value
- 7.9.2. Market Size and Forecast By Types
- 7.9.3. Market Size and Forecast By Design
- 7.9.4. Market Size and Forecast By Application
- 7.10. Mexico Industrial Gearbox Market Outlook
- 7.10.1. Market Size By Value
- 7.10.2. Market Size and Forecast By Types
- 7.10.3. Market Size and Forecast By Design
- 7.10.4. Market Size and Forecast By Application
- 8. Competitive Landscape
- 8.1. Competitive Dashboard
- 8.2. Business Strategies Adopted by Key Players
- 8.3. Key Players Market Positioning Matrix
- 8.4. Porter's Five Forces
- 8.5. Company Profile
- 8.5.1. Siemens AG
- 8.5.1.1. Company Snapshot
- 8.5.1.2. Company Overview
- 8.5.1.3. Financial Highlights
- 8.5.1.4. Geographic Insights
- 8.5.1.5. Business Segment & Performance
- 8.5.1.6. Product Portfolio
- 8.5.1.7. Key Executives
- 8.5.1.8. Strategic Moves & Developments
- 8.5.2. Sumitomo Heavy Industries, Ltd.
- 8.5.3. Emerson Electric Co
- 8.5.4. ABB Ltd.
- 8.5.5. Regal Rexnord Corporation
- 8.5.6. Renold plc
- 8.5.7. Dana Incorporated
- 8.5.8. The Timken Company
- 8.5.9. Nidec Corporation
- 8.5.10. Comer Industries SpA
- 8.5.11. Elecon Engineering Company Limited
- 8.5.12. China High Speed Transmission Equipment Group Company, Ltd
- 9. Strategic Recommendations
- 10. Annexure
- 10.1. FAQ`s
- 10.2. Notes
- 10.3. Related Reports
- 11. Disclaimer
Table 1: Global Industrial Gearbox Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Industrial Gearbox Market Size and Forecast, By Types (2018 to 2029F) (In USD Billion)
Table 6: Global Industrial Gearbox Market Size and Forecast, By Design (2018 to 2029F) (In USD Billion)
Table 7: Global Industrial Gearbox Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 8: North America Industrial Gearbox Market Size and Forecast, By Types (2018 to 2029F) (In USD Billion)
Table 9: North America Industrial Gearbox Market Size and Forecast, By Design (2018 to 2029F) (In USD Billion)
Table 10: North America Industrial Gearbox Market Size and Forecast, By Application (2018 to 2029F) (In USD Billion)
Table 11: Influencing Factors for Industrial Gearbox Market, 2023
Table 12: United States Industrial Gearbox Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 13: United States Industrial Gearbox Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 14: United States Industrial Gearbox Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 15: Canada Industrial Gearbox Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 16: Canada Industrial Gearbox Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 17: Canada Industrial Gearbox Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Table 18: Mexico Industrial Gearbox Market Size and Forecast By Types (2018 to 2029F) (In USD Billion)
Table 19: Mexico Industrial Gearbox Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 20: Mexico Industrial Gearbox Market Size and Forecast By Application (2018 to 2029F) (In USD Billion)
Figure 1: Global Industrial Gearbox Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Industrial Gearbox Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Industrial Gearbox Market Share By Region (2023)
Figure 6: North America Industrial Gearbox Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: North America Industrial Gearbox Market Share By Country (2023)
Figure 8: US Industrial Gearbox Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: Canada Industrial Gearbox Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: Mexico Industrial Gearbox Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Competitive Dashboard of top 5 players, 2023
Figure 12: Porter's Five Forces of Global Industrial Gearbox Market
Industrial Gearbox Market Market Research FAQs
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