Gear Manufacturing Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR71528
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The gear manufacturing market share is expected to increase by USD 73.66 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.73%.

This gear manufacturing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (worn gear, bevel gear, and others), end-user (oil and gas industry, power industry, automotive, and others), and geography (APAC, Europe, North America, MEA, and South America). The gear manufacturing market report also offers information on several market vendors, including DB Santasalo Sarl, Emerson Electric Co., Johnson Electric Holdings Ltd., Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid GmbH, WEG Equipamentos Eletricos SA, and ZF Friedrichshafen AG among others.

What will the Gear Manufacturing Market Size be During the Forecast Period?

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Gear Manufacturing Market: Key Drivers and Trends

The adoption of industrial automation is notably driving the gear manufacturing market growth, although factors such as the slowdown in the Chinese manufacturing sector may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the gear manufacturing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Gear Manufacturing Market Driver

One of the key factors driving growth in the gear manufacturing market is the adoption of industrial automation. The growth in technology over the past few decades is driving advances in automation, prompting the adoption of robots and industrial automation. The rate of adoption of automation is especially high in the manufacturing sector, which is expected to become a driving force for the gear manufacturing market. A major factor contributing to the growing adoption of automation is the rise in labor costs and the focus on eliminating production inefficiencies and reducing costs. Although the integration of automation in manufacturing processes requires huge initial capital investments, the advantages of automated robots and machines usually outweigh these costs in the long term. The use of automation allows manufacturers to reduce their operational costs and simultaneously improve work efficiency and reduce losses from human errors arising from manual handling and processing.

Key Gear Manufacturing Market Challenge

The slowdown in the Chinese manufacturing sector will be a major challenge for the gear manufacturing market vendors during the forecast period. China has a huge potential for growth in the global gear manufacturing market due to its vast manufacturing sector. The country is considered a global hub for manufacturing and produces everything from vehicle and aircraft components to industrial machines and electronics. However, the slowdown in the Chinese economy is expected to limit the market growth. The excess manufacturing capacity in the country is one of the leading factors responsible for this slowdown. Many companies that had taken excessive loans to maintain their operations faced a severe crisis due to the manufacturing overcapacity in the country and dwindling profits. Although China is expected to remain one of the leading markets for gear manufacturing, the above factors may severely affect the demand for gear manufacturing from end-user industries, thereby hampering the growth of the market in the coming years.

This gear manufacturing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Gear Manufacturing Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • DB Santasalo Sarl
  • Emerson Electric Co.
  • Johnson Electric Holdings Ltd.
  • Rotork Plc
  • SEW-EURODRIVE GmbH and Co KG
  • Siemens AG
  • Sumitomo Heavy Industries Ltd.
  • Walterscheid GmbH
  • WEG Equipamentos Eletricos SA
  • ZF Friedrichshafen AG

 

This statistical study of the gear manufacturing market encompasses successful business strategies deployed by the key vendors. The gear manufacturing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The gear manufacturing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Gear Manufacturing Market?

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40% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for gear manufacturing in APAC. Market growth in this region will be faster than the growth of the market in the North American, MEA, and South American regions.

China and India are rapidly expanding their capacity for renewable energy sources to achieve emission targets and reduce environmental pollution. According to the IEA, China and India have the potential to produce more than 6,500 TWh of offshore wind power. This will facilitate the gear manufacturing market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Gear Manufacturing Market?

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The gear manufacturing market share growth by the worn gear segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the gear manufacturing market size and actionable market insights on post COVID-19 impact on each segment.

 

Gear Manufacturing Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.73%

Market growth 2021-2025

$ 73.66 billion

Market structure

Fragmented

YoY growth (%)

3.97

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 40%

Key consumer countries

China, US, Germany, Japan, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

DB Santasalo Sarl, Emerson Electric Co., Johnson Electric Holdings Ltd., Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid GmbH, WEG Equipamentos Eletricos SA, and ZF Friedrichshafen AG

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Gear Manufacturing Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive gear manufacturing market growth during the next five years
  • Precise estimation of the gear manufacturing market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the gear manufacturing industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of gear manufacturing market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Worm gear - Market size and forecast 2020-2025
  • Bevel gear - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by Product

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Oil and gas industry - Market size and forecast 2020-2025
  • Power industry - Market size and forecast 2020-2025
  • Automotive - Market size and forecast 2020-2025
  • Others - Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • DB Santasalo Sarl
  • Emerson Electric Co.
  • Johnson Electric Holdings Ltd.
  • Rotork Plc
  • SEW-EURODRIVE GmbH and Co KG
  • Siemens AG
  • Sumitomo Heavy Industries Ltd.
  • Walterscheid GmbH
  • WEG Equipamentos Eletricos SA
  • ZF Friedrichshafen AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The gear manufacturing market growth will increase by $73.66 billion during 2020-2025.
The gear manufacturing market is expected to grow at a CAGR of 5.73% during 2020-2025.
Technavio has segmented the gear manufacturing market by product (Worm gear, Bevel gear, and Others) ,end user (Oil and gas industry, Power industry, Automotive, and Others) , and geographic (APAC, Europe, North America, MEA, and South America).
DB Santasalo Sarl, Emerson Electric Co., Johnson Electric Holdings Ltd., Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid GmbH, WEG Equipamentos Eletricos SA, ZF Friedrichshafen AG are a few of the key vendors in the gear manufacturing market.
APAC will register the highest growth rate of 40.04% among the other regions. Therefore, the gear manufacturing market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the gear manufacturing market growth are:
  • Adoption of industrial automation
The gear manufacturing market vendors should focus on grabbing business opportunities from the worm gear segment as it accounted for the largest market share in the base year.
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