Industrial Gearbox Market to Reach USD 12.25 Billion by 2029; Flender Agrees to Purchase Moventas to Spur Growth

The global industrial gearbox market size was valued at USD 8.50 billion in 2021. The market is expected to grow from USD 9.06 billion in 2022 to USD 12.25 billion by 2029, exhibiting a CAGR of 4.4% during the forecast period.

This information is presented by Fortune Business Insights, in its report titled, “Industrial Gearbox Market Size, Share & COVID-19 Impact Analysis, By Type (Helical, Planetary, Bevel, Worm, Spur), By Design (Parallel Axis, Angled Axis, and Others), By End-user (Material Handling, Construction, Power Generation, Mining, Food & Beverages, Manufacturing Industry, Packaging & Labelling, and Others), and Regional Forecast, 2022-2029”.

A locking system that transmits mechanical energy to an output device is known as an industrial gearbox. Gearboxes can modify torque, speed, and other characteristics to transform energy into a form that can be used. Gears provide a variety of functions in a variety of gadgets. The speed and torque of these machines can be increased by slowing them down. It aids in the efficient running of industrial machinery. These boxes go above conveyors, cooling towers, crushers, cranes, material handling equipment, and other important applications. Cement, steel, power plants, plastic, and rubber are all important industries.

Future Industrial Gearbox Projects to be Affected by COVID-19

The newly discovered coronavirus, which caused the outbreak of the infectious disease known as the coronavirus disease, has caused chaos and panic around the world and has stopped all routine daily activities such as going to work, gatherings, meetings, and international travel.

Germany's Voerde Site of Flender is Being Expanded

The drive maker Flender has begun the construction of a new logistics and storage building of its German facility in Voerde on the Lower Rhine for the assembly of big gear units for the wind and industrial businesses. The 200 meters long and 40 meters wide new structure will include storage areas as well as goods receipt, incoming goods inspection, and a cleaning area with a large-parts washing machine when it will be finished by the end of 2022. Massive components will be able to travel along short, covered logistics routes from truck unloading to large gear assembly as a result. Flender is changing its logistics approach at the Voerde facility in response to the rising demand in the wind and industrial businesses. In recent years, the size and weight of gearboxes and drive systems built in Voerde have increased steadily.

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Rising Industry Adoption of Robotization has Accelerated Market Growth

The industrial gearbox market growth is being driven by the growing robotization of industries including the medical sector, food preparation & processing, and horticulture hardware. To address the drawbacks of minimally invasive surgery and improve the skills of doctors practicing open surgery, robotic arms were developed for use in the medical industry. The joints on the robot arms control the speed and direction of movement while ensuring mobility through the gearboxes.

Important Business-related Announcements by Key Players to Influence Market Dynamics

Fundamental companies in the market often make crucial announcements regarding some business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, engage in partnership deals, and sign contracts with government organizations.

Notable Industry Development

• February 2022: Flender consented to acquire Moventas, a Finnish company that makes wind turbine gearboxes. After taking the first step toward independence last year, the anticipated takeover represents the next stage in Flender's growth strategy. The established Winergy product brand will be strengthened by integrating Moventas' engineering and support capabilities.

List of Key Players Covered in the Report

• Flender GmbH (Germany)


• Bonfiglioli SPA (Italy)


• SEW Eurodrive (Germany)


• Emerson Electric (U.S.)


• Nidec Motor Corporation (Japan)


• Elecon Engineering Co. Ltd (India)


• Dana Brevini Power Transmission (Germany)


• Johnson Electric Holding Limited (Hong Kong)


• Bauer Gear GmbH (Germany)


• Sumitomo Heavy Industries (Japan)


• Comer Industries S.p.A. (Italy)


• China High-Speed Transmission Equipment Group Co., Ltd (China)

Further Report Findings

Asia Pacific is home to half of the world's biggest mining companies that dominate the region in mining activities, resulting in increased adoption of the gearbox used explicitly in industries such as mining activities to maintain the smooth functioning of heavy machinery. Asia Pacific dominated the industrial gearbox market share in 2021.

The market is categorized into material handling, construction, power generation, mining, food & beverage, manufacturing industry, packaging & labelling, and others based on end-user. Manufacturing industries are substantially growing globally as several well-developed countries are experts in bulk production.

Table of Segmentation