INDUSTRIAL GEARBOX MARKET ANALYSIS

Regional Analysis

Global Industrial Gearbox Market: Regional Insights

North America among other regions is expected account for major share in the global industrial gearbox market over the forecast period. This can be attributed to robust presence of various industries in the region including railways, manufacturing, power generation, food and beverages, mining and others. Manufacturing industry in the region continues to show growth, as the revenue generated by the industry in the U.S. in 2020 accounted for nearly 10.8% of the economy of this country. Thus, the demand for industrial gearboxes is expected to increase in the coming years. This is expected to drive the market growth in the near future.

Europe is also anticipated to gain substantial growth in the global industrial gearbox market during the forecast period. This is due to presence of strong manufacturing industry in the countries of this region such as Germany. Moreover, the presence of large automotive industry in the region is also one of the region for high demand of industrial gearboxes. The region is also witnessing increasing demand for electric vehicle manufacturing facilities. These factors are in turn likely to support the market growth in the coming years.

• North America: U.S. and Canada
• Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa