Lucintel Forecasts Industrial Gearbox Market to Reach $XX Billion by 2028

According to the recent study the industrial gearbox market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 4% to 6% from 2023 to 2028. Growth in this market is primarily driven by increasing adoption of industrial automation, rising industrialization in developing economies, and increasing requirement for efficient and clean energy sources.

Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in industrial gearbox market by type (planetary industrial gear boxes, helical industrial gear boxes, bevel industrial gear boxes, spur industrial gear boxes, worm industrial gear boxes, screw industrial gear boxes, and others), design (parallel axis, angular axis, and others), part (stuff, shaft, and bearing), product (planetary, harmonic, and cycloid), end use (military and aerospace, food, beverages, and tobacco, machine tool, material handling, packaging, robotics, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“Planetary market is expected to remain the largest segment during the forecast period.”

Based on product, the industrial gearbox market is segmented into planetary, harmonic, and cycloid. Lucintel forecasts that the planetary market is expected to remain the largest segment due to its high efficiency, more power density, and low backlash.

“Within the industrial gearbox market, the robotics segment is expected to remain the largest end use industry”

Based on end use industry the robotics segment is expected to witness the highest growth over the forecast period due to the growing utilization of robotic devices, huge usage in the bucket elevators and stacker reclaimer and increasing demand among the manufacturers.

“Asia pacific will dominate the industrial gearbox market in near future”

Asia Pacific will remain the largest region due to the increasing utilization of advanced technology among industries, rapid industrialization and growing urbanization in the region.

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Major players of industrial gearbox market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. David Brown, Kumera Corporation, Parsons Peebles LTD, Sumitomo Heavy Industries, Ltd, Fluor Corporation, Triveni Engineering & Industries Ltd, PG Drive, and GearTec are among the major industrial gearbox providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link or [email protected]

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