Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 31.20 Billion | USD 49.29 Billion | 4.68% | 2024 |
FrequentlyAsked Questions
The global industrial gearbox market is expected to grow due to rising automation in industries, increasing adoption in wind energy applications, and growing demand for efficient power transmission systems in manufacturing and construction.
According to a study, the global industrial gearbox market size was worth around USD 31.20 Billion in 2024 and is expected to reach USD 49.29 Billion by 2034.
The global industrial gearbox market is expected to grow at a CAGR of 4.68% during the forecast period.
Asia-Pacific is expected to dominate the industrial gearbox market over the forecast period.
Leading players in the global industrial gearbox market include Siemens AG (Germany), Bonfiglioli Italia S.P.A (Italy), Bondioli & Pavesi (Italy), Sew-Eurodrive (Germany), Dana Brevini (Italy).,, among others.
The report explores crucial aspects of the industrial gearbox market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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