Home Gear box Industrial Transmission Market – Growth, Trends, COVID-19

Industrial Transmission Market – Growth, Trends, COVID-19

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New York, November 18, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Industrial Gearbox Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” – https: // www .reportlinker.com / p06184971 /? utm_source = GNW
The economic uncertainty of COVID-19 in 2020 in major developing countries has negatively impacted the market. The economic downturn has affected all major end user sectors of the industrial gearbox market, namely power, metals, mining and minerals etc. Additionally, the COVID-19 outbreak has severely affected the supply chain of almost every major industry around the world. . The increasing adoption of industrial automation in various industrial sectors such as manufacturing, steel, food and beverage is expected to drive the market during the forecast period. However, factors such as travel bans, closures of manufacturing facilities, and delays in projects are expected to negatively impact the industrial transmission market, thereby limiting the market growth.

Highlights
The helical type gearbox is expected to dominate the market during the forecast period, owing to its features and advantages over other gearboxes.
The increasing demand for energy efficient gearboxes is expected to create immense opportunities for the global industrial gearboxes market in the coming years.
Asia-Pacific is expected to dominate the industrial gearbox market during the forecast period, with the majority of demand coming from China, India and Japan.

Key market trends

Helical gearbox type segment to dominate the market

In a helical gearbox, the teeth of a helical gear cut at an angle to the face of the gear. In the process, when two of the teeth start to engage, the contact is gradual, starting at one end of the tooth and maintaining contact as the gear spins in full engagement. Because of this, it offers both the ability to perform smooth operation and high thrust outputs. In the field of automotive transmissions, these are the most widely used gears because they generate large amounts of thrust.
The defining characteristics of helical gearboxes include extremely high output torques, quiet operation and long service life. Helical reducers are the most efficient reducers manufactured in the industry and operate at 98% efficiency, after planetary reducers. Due to their high efficiency and high thrust generation capabilities, helical gearboxes are used in major industries, such as fertilizer, automotive, steel, rolling mills, power and port industries. , and manufacturing sectors, such as textiles, plastics and food.
Helical gearbox is used in medium and heavy industrial applications of automotive transmissions because it is able to handle high speeds and heavy loads. The modular design and construction offers many advantages in terms of engineering and performance, including a high degree of interchangeability of parts and sub-assemblies. This, in turn, allows for considerable production savings while maintaining the highest level of component integrity.
Auto sales suffered greatly at the start of the pandemic (early 2020), with major markets, such as China, the United States and Europe, facing sharp declines in sales volume. However, sales volumes have recovered considerably since then. As the automotive industry regularly recovers from the effects of the pandemic, the growth in demand for automobiles, globally, is expected to positively impact the demand for helical gearboxes in the automotive industry.
As the auto industry focuses on electric vehicles, the integration of helical gearboxes into the EV drivetrain is expected to positively impact the demand for helical gearboxes. As sales of electric vehicles increase, the development of affordable all-electric transmission powertrains remains a significant growth opportunity for the helical gearbox market.
Hence, based on the above mentioned factors, the helical gearbox type segment is expected to dominate the market during the forecast period.

Asia-Pacific to dominate the market

The Asia-Pacific region accounted for the significant share of the industrial gearbox market in 2020, owing to the increasing demand for reducers in various applications such as manufacturing, electrical industry, etc. Countries such as India, China, Japan, Korea and Australia are the main contributing countries in the region.
China has been a key factor in the growth of the manufacturing sector around the world. The country is the leader in the steel, chemical, energy and cement industries, and it is a major player in the petrochemical and refining industries. Despite the COVID-19 outbreak, the country’s industrial sector has grown by more than 3% since April 2020, reaching a record high of 35.1% in January 2021.
In addition, steel production in 2020 registered an increase of 6.5% compared to the previous year. China has been the largest producer and exporter of crude steel, accounting for more than half of world production. China’s One Belt One Road project, intended to fill the region’s infrastructure gap, is expected to boost demand for steel. In addition, since August 2021, the country has a continuous expansion in one refinery, and three new refineries are expected to start operations in 2021. One refinery is expected to start operations by 2022. Therefore, with the expansion of refineries and The upcoming petrochemical and coal-fired activities, the country is expected to witness an increase in industrial gearbox installations in the power sector during the forecast period.
In addition, India is the fourth largest onshore wind market in the world in terms of installations, with 38.6 GW of wind capacity in 2020. The wind power market in the country has grown thanks to two fundamental drivers. : growing energy demand and government targets. In addition, India is currently trying to expand its green power portfolio by tapping the fully untapped offshore wind energy potential along its 7,600 kilometer coastline. Therefore, once the true potential is realized, the demand for industrial gearboxes in the wind power sector is expected to increase in the coming years.
Hence, based on the above-mentioned factors, Asia-Pacific is expected to dominate the global industrial gearbox market during the forecast period.

Competitive landscape

The industrial gearbox market is moderately consolidated. Major players include Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd, Lenze SE, Flender Ltd, Nord Drivesystems Pvt Ltd and Bosch Rexroth AG.

Additional benefits:

The Market Estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06184971/?utm_source=GNW

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