London, 03 September 2015: Technavio, the independent tech-focused global research firm, has published a report on the global industrial gearbox market 2015-2019, which is expected to grow at a CAGR of 5.41% between 2015 and 2019.
The need for enhanced vehicle performance has increased along with customers’ changing requirements, fueling the demand for efficient gearboxes. In addition, advances in manual and automatic transmission systems have boosted the demand for gearboxes.
“Vendors in this market are increasingly focusing on vertical integration, as it helps them bridge the demand-supply gap, control the supply of essential parts and raw materials, and avoid component shortages,” says Faisal Ghaus, Vice President of Technavio.
“For instance, ZF has ventured into the wind energy segment as a gearbox supplier by acquiring Bosch Rexroth’s industrial gear and wind turbine gearbox segments in May 2015.”
Key Market Drivers
- Growth in the automotive transmission market
- Growing need for wind turbine and turbine gearboxes in the thermal power plant market
- Rising demand for mining equipment
- Focus on mechanization in the agriculture sector
Key Market Trends
- Demand for turnkey solutions
- Focus on vertical integration
- Emergence of multi-speed gearboxes
Key Market Vendors
- ABB
- Bonfiglioli Riduttori
- Emerson Electric
- Rexnord
- Sew
- Siemens
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
