Industrial Gear Market - Global Industry Analysis, Growth, Trends Forecast 2023

Transparency Market Research Added A New Report "Industrial Gear Market".Gears are vital components for the functioning of industrial equipment and products. As against gears used in consumer and commercial products, industrial gears are characterized by durable metal composition and heavy duty construction.

Industrial gears are manufactured as per the set industrial norms and standards using the optimum quality materials. Standards for industrial gears include ISO 9001:2008, DIN Standards and American Gear Manufacturers Association (AGMA) standards. Industrial gears are mainly used in steel manufacturing, steel processing, material handling, machine tools industry, engineering industry and in paper, plastic, rubber and sugar industries. The vendors manufacture all types of gears including bevel, helical, worm gears, spur, herringbone, spline, sprocket, double helical, internal, and rack. The size of the gear sets vary mainly between pitch diameters of 80-2000 mm. Industrial gear boxes, conveyor drives, pulverisers, marine drives, transportation systems are some of the applications that represent the industrial gear sector. The gears used in these applications are manufactured by job shops that specialize in small batch production over large varieties. Rigid machine construction and economics of production are the key factors that define the leading technology for this market. In addition to this, ability to withstand high mechanical loads and climatic stresses, service life, low noise emissions and low weight are few other parameters ensured by vendors in industrial gears market.

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Industrial gear market is segmented by geography as North America, Europe, Asia Pacific, Middle-East and Africa and Latin America. Growing population and increasing income in countries such as India, China, and Brazil have led industries such as oil and gas, textile, food and beverage, and pulp and paper to expand their facilities in order to meet the demand of the consumer. These industries are expected to continue driving the growth of industrial gears market in the foreseeable future. Industrial gear market is cost sensitive. Gear manufacturers use various materials in their products, including stainless steels, hardened steel, cast iron, aluminum, brass and bronze. Increasing prices of raw materials are posing a challenge to vendors to absorb the burden of costs and maintain profitability. Vendors vary sizes, shapes, speed ratios and designs of gears according to the specific requirements of industrial applications to remain competitive in the market. Companies such as Ashoka Machine Tools Corporation and Precipart Corporation are offering customized industry-specific gears to retain their market share. Cleveland Gear Company, Inc. refurbish industrial gears produced by other manufacturers along with customization services. Intelligent integration of components is also a recent trend in this industry. For instance, SEW Eurodrive’s mechatronic industrial gear unit integrates industrial gear units, decentralized frequency inverters and motors in a standard package which allow use of linked-up sensor technology.

Leading Market participants in this industry include Klingelnberg GmbH, Cleveland Gear Company, Inc. Essential Power Transmission Pvt. Ltd. (Esenpro), Precipart Corporation, Griffin Gear Inc.(Renaissance Power Systems), NORD drivesystemsPvt. Ltd., Renold plc, SEW-Eurodrive, GearTech, Inc., (United Stars, Inc.), Allied Precision Gears Inc, Jrlon, Inc. Edgerton Gear, Inc. SRS Gears and Sprockets and Ashoka Machine Tools Corporation among others.

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