According to IMARC Group’s latest report, titled “Industrial Gearbox Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global industrial gearbox market grew at a CAGR of 5% during 2015-2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industrial gearbox is an enclosed system that is designed to transfer mechanical energy from one device to another. It can adjust the ratio of torque, speed, and rate of rotation transmitted to an output device. Some of the common product variants available in the market include helical gearbox, spur gearbox, coaxial helical inline gearbox and bevel helical gearbox. These devices help in improving operational output, reducing workload, maintaining torque, controlling noise and vibration, etc. As a result, industrial gearbox finds widespread applications across diverse industries, including power generation, food and beverages, construction, marine, metal and mining, material handling, agricultural, automotive, etc.
Request Free Sample Report: https://www.imarcgroup.com/Industrial-Gearbox-Market/requestsample
The growing penetration of Industry 4.0 trends and the escalating demand for industrial gearboxes in the construction sector for enhanced operational efficiency of conveyors, crushers, plastic extruders, etc., are primarily driving the global market. Furthermore, a significant rise in the renewable energy sector is also augmenting the product demand for absorbing kinetic energy in the hydro or wind turbines to produce electricity. Additionally, the introduction of favorable government policies and financial incentives for the development of safe and clean power sources is propelling the market for industrial gearboxes. Besides this, numerous technological advancements such as the integration of AI and robotics for automated and highly efficient industrial processes will continue to drive the global market for industrial gearboxes in the coming years.
Ask Analyst and Browse Full Report with TOC & List of Figure: https://bit.ly/3msy6MN
List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of type, design, application and geography.
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Group 30 N Gould St, Ste R Sheridan, WY 82801, USA Email: sales@imarcgroup.com Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800