Speed Changer, Industrial High-Speed Drive, And Gear Market 2024 | Market Size, Industry Trends, Share, Market Analysis, Key Drivers, Top Major Players And Forecast To 2033

Global speed changer, industrial high-speed drive, and gear market size is expected to reach $85.03 Bn by 2028 at a rate of 7.6%, segmented as by type, speed changers and industrial high-speed drives, and gears, pinions, racks, and worms

Jun 20, 2024 - 11:45

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Speed Changer, Industrial High-Speed Drive, And Gear Market 2024 | Market Size, Industry Trends, Share, Market Analysis, Key Drivers, Top Major Players And Forecast To 2033

Overview and Scope

Speed Changer, Industrial High-Speed Drive, And Gear refers to the process of manufacturing industrial high-speed drives (except hydrostatic), automotive power transmission equipment, gears and speed changers.

Sizing and Forecast

The speed changer, industrial high-speed drive, and gear market size has grown strongly in recent years. It will grow from $58.6 billion in 2023 to $63.4 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to industrialization and manufacturing boom, automotive industry growth, energy sector expansion, mechanical power transmission in machinery, demand for heavy machinery.

The speed changer, industrial high-speed drive, and gear market size is expected to see strongly grown in the next few years. It will grow to $85.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to industry 4.0 and smart manufacturing, renewable energy integration, rise of electric vehicles, focus on energy efficiency, expansion of aerospace and defense. Major trends in the forecast period include digitalization and iot in industrial equipment, technological advancements in manufacturing, advanced material technologies, robotics and automation integration, hybrid drive systems.

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Segmentation & Regional Insights

The speed changer, industrial high-speed drive, and gear market covered in this report is segmented –

1) By Type: Speed Changers and Industrial High-Speed Drives, and Gears, Pinions, Racks, and Worms

2) By Application: Industrial, Manufacture, Automotive, Other Applications

Asia-Pacific was the largest region in the Speed Changer, Industrial High-Speed Drive, And Gear market in 2023.The regions covered in the speed changer, industrial high-speed drive, and gear market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.

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Major Driver Impacting Market Growth

The growth in the Speed Changer, Industrial High-Speed Drive, And Gear market is due to the expansion of renewable energy resources across the countries and government initiatives in nations such as China and India. For instance, in November 2023, according to India Brand Equity Foundation, an India-based government organization, renewable energy sources, generated 16.18 billion units (BU) of power in September 2022, reflecting an increase from the 14.49 BU generated in September 2021.

Key Industry Players

Major companies operating in the speed changer, industrial high-speed drive, and gear market report are ITW Spiroid, Gear Tec, Snyder Industries Inc., Nuttall Gear LLC, Cycle Gear Inc., Rexnord Industries LLC, Steward Machine Co Inc, Twin Disc Incorporated, Horsburgh & Scott Co, Peerless-Winsmith Inc, Precipart Corporation, Habasit America Inc, Nord Gear Corporation, Lenze Americas Corporation, Cone Drive Operations Inc, Sumitomo Heavy Industries Ltd., SEW-EURODRIVE GmbH & Co KG, Bonfiglioli Riduttori S.p.A., Regal Beloit Corporation, Asea Brown Boveri Ltd., Siemens AG, Emerson Electric Co., Bosch Rexroth AG, Dana Incorporated, Timken Company, Svenska Kullagerfabriken AB, Mitsubishi Electric Corporation, Toshiba Corporation, Hitachi Ltd., Nidec Corporation

The speed changer, industrial high-speed drive, and gear market report table of contents includes:

1. Executive Summary

2. Speed Changer, Industrial High-Speed Drive, And Gear Market Characteristics

3. Speed Changer, Industrial High-Speed Drive, And Gear Product/Service Analysis -Product/Service Examples

4. Speed Changer, Industrial High-Speed Drive, And Gear Market Trends And Strategies

5. Speed Changer, Industrial High-Speed Drive, And Gear Market - Macro Economic Scenario

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68. Global Speed Changer, Industrial High-Speed Drive, And Gear Market Competitive Benchmarking

69. Global Speed Changer, Industrial High-Speed Drive, And Gear Market Competitive Dashboard

70. Key Mergers And Acquisitions In The Speed Changer, Industrial High-Speed Drive, And Gear Market

71. Speed Changer, Industrial High-Speed Drive, And Gear Market Future Outlook and Potential Analysis

72. Appendix