Industrial Gearbox Market to Expand at a CAGR of 4.40% Through 2020
The global industrial gearbox market is expected to reach USD 28.49 billion by 2020 at a CAGR of 4.40%. Geographically, APAC will dominate the market, followed by EMEA and the Americas.
Albany, New York, December 29, 2016: A recent report focusing on the global market of industrial gearbox has been added to the vast archive of Market Research Hub (MRH). This study is titled as “Global Industrial Gearbox Market 2016-2020” which offers a comprehensive study of the market at a global level by focusing on several key regions. According to the report, expansion in the wind power sector is one of the key factors driving the growth of the market for presently and coming years also. Research Analysts have estimated that the global industrial gearbox market will grow at a CAGR of 4.40% until the end of 2020.
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The first section of the study presents an overview on the industrial gearbox. Also, this section encapsulates the scope and overview of the market along with its challenges, trends, and drivers. A gearbox is a mechanical device used to convert the rotational energy of the engine to a rotational speed suitable for the wheels. A gearbox assembly includes varied components like gears, bearing covers, shafts, oil rings and seals. Among all the industrial gearboxes, the planetary gearbox segments have achieved a recent rise in demand owing to the growing awareness of alternate sources of energy.
Furthermore, the report segments the market on the basis of its product type, end-user, and geography. By product type it covers-precision and standard gearbox. Whereas, on the basis of end-user, it is categorized into following:Construction, mining and material handling equipment Automotive industry Wind energy industry Agricultural & food processing equipment
On the basis of geography, the market is categorized into APAC, Americas and EMEA. To calculate the market size, the report studies the demand for industrial gearboxes from the mentioned end-user industries and the demand for the equipment across all geographic regions. They operate as the source of power transmission for almost every form of a function that takes place in the industrial sector. Currently, the study has observed that there is strong growth in the mining industry, and will drive the growth prospects for the industrial gearbox market. This rise has occurred due to the huge surge in processes such as extraction and tunneling in the mining sector.
Geographically, in 2015, APAC has been accounted for the maximum market share and also it will continue to maintain its dominance for the coming years. Additionally, the rise in automobile sales also results for the increasing demand for a gearbox in this region.
Key manufacturers listed in the report are:ABB Bonfiglioli David Brown Gear Systems SEW-EURODRIVE Brevini Power Transmission Emerson Electric Rexnord Siemens
Browse Full Report with TOC: http://www.marketresearchhub.com/report/global-industrial-gearbox-market-2016-2020-report.html
Some of the prominent vendors available in the market are Columbia Gear, Gearbox Express, Horsburgh & Scott, Excel Gear, Aero Gears, Winergy etc.
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Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals.
Dec 29, 2016