Europe Industrial Gearbox Service Market Overview
The Europe Industrial Gearbox Service market was estimated to be worth USD 26.9 billion. The market for Europe Industrial Gearbox Services is expected to expand at a compound annual growth rate (CAGR) of 4.30% between 2023 and 2032, from USD 28.05 billion in 2023 to USD 39.29 billion by 2032.
In the Europe Industrial Gearbox Service market, the rise in industrial automation in Europe and the high expansion of the construction industry in developing nations are the drivers driving demand.
Since the last few decades, the world population has been increasing, and this trend is likely to continue during the forecast period. As a result, there has been an upsurge in demand for industrial automation all over the world. The expansion of the industrial gearbox market has been aided by global trends of digitization and automation in production.
Industrial gearboxes are also noted for their high torsional stiffness and low noise levels when in use. The proper operation of industrial gearboxes guarantees that machines run more efficiently and that production capacity is increased. In industrial automation applications, industrial gearboxes change the speed ratio to the transmitted power and optimize the operational operations. They have various advantages, including increased production and efficiency, lower maintenance costs, and lower power usage.
Industry News
- Parsons Peebles LTD
- GBS Gearbox Services International
- David Brown Santasalo
- Greater
- Triveni Engineering & Industries Ltd.
- Kumera Corporation
- Sumitomo Heavy Industries, Ltd
- Horner Industrial Group
- Sew-Eurodrive
- Elecon Group Company Limited
- Fluor Corporation
- Artec Machine Systems
- Dana Limited
- PG Drive
- Unico Mechanical
Market Segmentation
The global Europe Industrial Gearbox Service market is classified based on type, design, size (KW), torque, industry, and region.
Based on the type, the market has been segmented as helical, planetary, bevel, worm, spur, and others.
Based on the design, the market has been segmented as parallel axis, angles axis, and others.
Based on the part, the market has been segmented as gear, shaft, and bearings.
Based on the industry, the market has been segmented as industrial, wind power, material handling, construction, power generation (excluding wind power), marine, and others.
Based on the region, the market has been segmented as North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Regional Classification
Due to rising demand for clean energy and the expansion of various industries such as industrial, construction, and food & beverages in the region, Asia-Pacific is expected to hold the largest market share throughout the forecast period. China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific are the countries that make up the Asia-Pacific Europe Industrial Gearbox Service market. The rising construction industry in the region, as well as considerable expansion in industrial automation, are driving the growth of the Gearbox maintenance market. Conveyors, crushers, and plastic extruders are all driven by industrial gearboxes in industries that contribute to the construction industry's rapid growth.
As a result, rising investment in the services industry and the country's economic growth drive up demand for services. Gearbox services are necessary for a variety of industries, which will fuel the expansion of the Asia-Pacific Europe Industrial Gearbox Service market during the forecast period.
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