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Global Industrial Gears Market Size Will Reach USD 260,765.0 Million by 2027 – Exclusive Report by Astute Analytica

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New Delhi, June 08, 2022 (GLOBE NEWSWIRE) — The study undertaken by Astute Analytica foresees a tremendous growth in revenue of the market for global industrial gears market from US$ 204,052.2 Million in 2021 to US$ 260,765.0 Million by 2027. The market is anticipated to grow at a CAGR of 4.2% during the forecast period 2022-2027.

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Industrial gear consists of various types of gears such as spur gear, planetary gear, helical gear, rack and pinion gear, worm gear and many more. Companies in the industrial gear market are increasing efforts to provide quality and reliable gear types in order to better serve the huge diversified industrial demand across the world. Additionally, the growing demand for industrial gear from automotive and construction industry has tremendously increases the growth of the market. Moreover, the installation of industrial gearboxes is being assisted by the implementation of severe government requirements for controlling noise pollution and reducing power overload across industrial plants. Furthermore, advanced technology adoption in the mining, industrial machinery, power plants, and oilfields sectors is expected to boost demand for industrial equipment in near future.

On the basis of product type, the spur gear segment held the largest market share in the market in 2021. Whereas, planetary gear segment is expected to grow at the highest CAGR during the forecast period. Moreover, in terms of application, the automotive segment holds the largest market share in 2021. Whereas, the aviation and oilfield equipment segment are expected to grow with the highest CAGR over the forecast period. Furthermore, by distribution channel, the OEMs segment dominated the industrial gears market in 2021. Moreover, aftermarket segment is anticipated to grow at the highest CAGR over the forecast period.

Market Dynamics and Trends

Drivers

The rising installation in wind power sector and rapid growth of construction industry in developing nations will boost the global industrial gears market during the forecast period. Wind energy is a renewable energy source that accounts for a significant portion of global electricity output, therefore the rising installation and investments in wind power projects is to drive the market growth during the forecast period. Moreover, the key aspect that drives the growth of the global industrial gears market includes the increased demand for gear from the construction industry coupled with the growing building and construction industry.

Restraints

Technical faults such as oil leakage and heating are a restraining factor which inhibits the growth of the industrial gears market over the forecast period. The oil leakage problem such as leakage of the oil lubrication distribution pipe, failure of fastener pre-tightening torque will arise in various degrees during the continuous load operation of the gearbox.

Trend

Rapidly rising emergence of numerous advanced technologies such as artificial intelligence and robotics by the major players creates a significant growth trend for the industrial gears market. The various major players are focusing on the launches of technological advanced products and providing value-added services and customized solutions to its clients.

Global Industrial Gears Market Country Wise Insights

  • North America Industrial Gears Market-

US holds the major share in terms of revenue in the North America industrial gears market in 2021. Whereas, Mexico is projected to grow with the highest CAGR during forecast period due to the increase in presence of extensive production units in the region. Moreover, based on product type, the spur gear segment holds majority of the revenue in the industrial gears industry in North America. On the contrary, the planetary gear is estimated to project the highest CAGR during the forecast period.

  • Europe Industrial Gears Market-

Germany is the highest shareholder region in 2021, whereas Russia is projected to grow with the highest CAGR of 4.4% over the forecast period due to the development of manufacturing sector across the region. Furthermore, in terms of distribution channel, the OMEs segment contributed the major share in the Europe industrial gears market. Whereas the aftermarket segment is projected to grow at the highest CAGR of 4.0% during the forecast period.

  • Asia Pacific Industrial Gears Market-

China is the highest shareholder country in the Asia Pacific industrial gears market in 2021. Whereas, India is expected to project the highest CAGR during the forecast period owing to the increasing adoption of automation technologies across industrial sectors in China and India. Moreover, on the basis of application, the automotive segment holds majority of the revenue in the industrial gears industry, in the regional market. Whereas the oilfield equipment and aviation are estimated to project the highest CAGR of 7.2% during the forecast period.

  • Middle East & Africa Industrial Gears Market-

UAE is projected to grow with the highest CAGR of 4.9% in the MEA industrial gears market over the forecast period. Whereas, Saudi Arabia holds the largest share in the MEA industrial gears market in 2021. The growing development of manufacturing sector and investment in industrial application will significantly drive the market growth in the region. Furthermore, based on product type, the spur gear segment held the largest market share in the MEA industrial gear market in 2021.

  • South America Industrial Gears Market-

Brazil is the highest shareholder country in 2021, whereas Argentina is projected to grow with the highest CAGR of 4.2% over the forecast period. The growing investment in industrial application specially in Brazil and Argentina will significantly drive the market growth in the region. Moreover, in terms of distribution channel, the OEMs segment dominated the South America industrial gears market in 2021. Whereas, aftermarket segment is anticipated to grow at the highest CAGR over the forecast period due to its high demand in various industries for gear in the forthcoming years.

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Report Attribute Details
Market Size Value in 2021 US$ 204,052.2 Million
Market Outlook for 2027 US$ 260,765.0 Million
Expected CAGR Growth 4.2%
Base Year 2021
Forecast Period 2022-2027
Top Market Players                                                                         Aero Gear Inc., Precipart Corporation, ITAMCO, Riley Gear Corporation, Atlas Gear Company, Hota Industrial Manufacturing co., Ltd, Jackson Gear Company, Cleveland Gear Company, David Brown Santasalo, OKUBO GEAR Co. Ltd, Eaton, Martin Sprocket & Gear, Inc., Philadelphia Gear, Omni G&M Corporation, Gear Motions, Ford Motor Company, Honda Motor Co., Ltd., Toyota Industries Corporation and Caterpillar Inc. among others
Segments Covered By Product, By Application, By Distribution, By Region
Geographies Covered North America, Europe, Asia Pacific, South America, Middle East and Africa
Customization Options Get your customized report as per your preference. Ask for customization

Competitive Insight

Global Industrial Gears Market is highly competitive in order to increase their presence in the marketplace. Some of the key players operating in the market includes Aero Gear Inc., Precipart Corporation, ITAMCO, Riley Gear Corporation, Atlas Gear Company, Hota Industrial Manufacturing co., Ltd, Jackson Gear Company, Cleveland Gear Company, David Brown Santasalo, OKUBO GEAR Co. Ltd, Eaton, Martin Sprocket & Gear, Inc., Philadelphia Gear, Omni G&M Corporation, Gear Motions, Ford Motor Company, Honda Motor Co., Ltd., Toyota Industries Corporation and Caterpillar Inc. among others.

Segmentation Overview

Global Industrial Gears Market is segmented based on product type, application, distribution channel and region. The industry trends in the global industrial gears market are sub-divided into different categories in order to get a holistic view of the global marketplace.

Following are the different segments of the Global Industrial Gears Market:

By Product Type segment of the Global Industrial Gears Market is sub-segmented into:

  • Spur Gear
  • Planetary Gear
  • Helical Gear
  • Rack and Pinion Gear
  • Worm Gear
  • Bevel Gear
  • Others

By Application segment of the Global Industrial Gears Market is sub-segmented into:

  • Automotive
  • Aviation
  • Agricultural Machinery
  • Construction Machinery
  • Material Handling
  • Mining Equipment
  • Oilfield Equipment
  • Power Plants
  • Pulp and Paper
  • Steel and manufacturing
  • Others

By Distribution Channel segment of the Global Industrial Gears Market is sub-segmented into:

  • OEMs
  • Aftermarket

By Region segment of the Global Industrial Gears Market is sub-segmented into:

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Poland
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Argentina
    • Brazil
    • Rest of South America

To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/industrial-gears-market

About Astute Analytica 
Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

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Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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Media Contact:
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