Industrial Girth Gear Market by End-user and Geography - Forecast and Analysis 2021-2025

The industrial girth gear market share is expected to increase by USD 40.84 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 1.60%.

This industrial girth gear 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 industrial girth gear market segmentation by end-user (cement, mining, chemical and petrochemicals, metal fabrication, and others) and geography (APAC, Europe, North America, MEA, and South America). The industrial girth gear market report also offers information on several market vendors, including Ashoka Machines Tools Corp., FLSmidth and Co. AS, Kumera Corp., Nippon Chuzo K.K., P. van der Wegen Gears, SEW-EURODRIVE GmbH and Co KG, Siemens AG, SYMMEN, and The KCP Ltd. among others.

What will the Industrial Girth Gear Market Size be During the Forecast Period?

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Industrial Girth Gear Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The improvement in girth gear manufacturing technologies is notably driving the industrial girth gear market growth, although factors such as increased demand for refurbished girth gear segments may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial girth gear industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Industrial Girth Gear Market Driver

The improvement in girth gear manufacturing technologies is notably driving the industrial girth gear market growth. Advanced manufacturing technology, as well as the development of automated inspection software like MAGMA and Finite Element Analysis (FEA), have facilitated the prototyping and girth gear development process. Using these technologies, girth gear manufacturers can now manufacture large girth gears that are nearly 45-49 feet in diameter. Earlier industrial girth gears were fabricated from cast steel and spherical graphite iron (SGI), which prevented the division of large girth gear, as dividing them into many parts had an adverse impact on the overall strength and hardness of the girth gear. However, nowadays, the use of metals such as austempered ductile iron (ADI) has provided large industrial girth gear with high tensile strength and a high strength-to-weight ratio. Thus, girth gear fabricated from ADI can be split into more than six parts, thus facilitating their movement, installation, and replacement. All these advances in the industrial girth gear manufacturing process, as well as continuous R&D efforts, have increased the adoption of industrial girth gears.

Key Industrial Girth Gear Market Trend

The increasing focus on waste management is the key market trend driving the industrial girth gear market growth. The increasing generation of solid waste has a drastic effect on the environment and also leads to an increase in disease and pollution. Therefore, to reduce the ill effects of solid waste generation, most countries around the world are focusing on setting up waste-to-energy plants. In this, rotary kilns are used to treat contaminated solid waste thermally and to dispose of solid waste. The increased generation of solid wastes has led to several government initiatives to reduce such wastes and increased the processing of waste to energy. Developed countries in North America, Europe, and Asia are the major contributors to the growth of solid waste management. Developing countries such as China, India, and Brazil are also slowly increasing their investments and are undertaking initiatives to increase the number of waste-to-energy plants in the country. Though currently, the market for industrial girth gears in the environmental industry is low, the increasing focus on waste management and waste-to-energy plants is expected to provide high growth opportunities for the market during the forecast period.

Key Industrial Girth Gear Market Challenge

A major challenge for the global industrial girth gear market growth is the low demand for new girth gears and the growing preference for refurbished girth gears. It has been observed that many Asian manufacturers are eager to buy refurbished girth gear segments that are not only cost-effective but also ensure easy replacement. Using these refurbished gears, manufacturers can control their capital investments and expenditures, as replacing a segment of a girth gear is relatively less costly than buying a completely new girth gear. Additionally, replacing industrial girth gear with new gear involves long lead times, and the minimum time taken for its construction and delivery is over 60-90 days. Thus, the growing demand for refurbished girth gear segments will have a negative impact on the demand for new girth gear and thus hinder the growth of the market.

This industrial girth gear 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.

Parent Market Analysis

Technavio categorizes the global industrial girth gear market is a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial girth gear market during the forecast period.

Who are the Major Industrial Girth Gear Market Vendors?

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

• Ashoka Machines Tools Corp.
• FLSmidth and Co. AS
• Kumera Corp.
• Nippon Chuzo K.K.
• P. van der Wegen Gears
• SEW-EURODRIVE GmbH and Co KG
• Siemens AG
• SYMMEN
• The KCP Ltd.

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

Product Insights and News

• Ashoka Machines Tools Corp. - The company offers industrial girth gears such as spur gears, herringbone gear, ground gears, precision gears, and more.

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 industrial girth gear 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.

Industrial Girth Gear Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the industrial girth gear market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the industrial machinery market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Aftermarket and service 
• Industry innovations:

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Industrial Girth Gear Market?

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46% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for industrial girth gear in APAC. Market growth in this region will be faster than the growth of the market in Europe.

Various applications of lime in ferrous and non-ferrous metal production and new investments in metal production will facilitate the industrial girth gear 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.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 hindered the growth of the regional industrial girth gear market in 2020. Owing to the lockdowns imposed, numerous end-user industries such as cement, mining, chemicals and petrochemicals were temporarily closed. This restricted the demand for industrial girth gears in 2020. From Q3 of 2020, the regional governments announced relaxations in lockdown restrictions, which, in turn, propelled economic activities in the region. Numerous end-user industries such as steel manufacturers and oil and gas resumed their manufacturing activities. Thus, the rising activities in end-user segments such as the industrial and agriculture sectors will further boost the demand for industrial girth gear in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Industrial Girth Gear Market?

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The industrial girth gear market share growth by the cement segment will be significant during the forecast period. Industrial girth gears find various applications across the cement production process. They are used in rotary kilns, mills, dryers, and grinding machines. The demand for girth gears in the cement industry was mainly driven by the addition of new cement plants across the globe. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial girth gear market size and actionable market insights on post COVID-19 impact on each segment.

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

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive industrial girth gear market growth during the next five years
• Precise estimation of the industrial girth gear market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the industrial girth gear 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 industrial girth gear market vendors

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