Industrial Gearbox Market Size - By Product Type, By Power, By End Use Industry, By Distribution Channel Analysis, Share, Growth Forecast, 2025 - 2034

Industrial Gearbox Market Size

The global industrial gearbox market size was estimated at USD 30.6 billion in 2024 and is expected to exceed USD 47.5 billion in 2034, growing at a CAGR of 4.6% during 2025 to 2034, driven by surge in industrial automation across various sectors and advancement in gearbox technology. The market is also driven by rising demand for heavy duty machinery. Industry 4.0 and advanced manufacturing are leading to the adoption of industrial gearbox drives in automated applications such as CNC machines, robots, conveyor systems, and assembly lines. These gears provide high torque and small designs, fulfilling the requirements of accurate power transmission.
 

Global car sales increased by almost 10% in 2023 to over 72 million units, based on the European Automobile Manufacturers Association, as supply chain constraints relaxed. European sales increased by 18.6% as both EU and Eastern European markets grew. Russia and Ukraine, bouncing back from dramatic falls in 2022, demonstrated strong growth, while Turkiye experienced a 63.2% increase, coming close to one million units sold.

 

Furthermore, North America recorded a 15% increase in car sales in 2023, despite high inflation and rising interest rates. The U.S. saw a 14.4% rise in new car sales. In South America, passenger car sales remained steady at over 2.8 million units, unchanged from 2022.

The increased demand for building, infrastructure, and public works globally also increases the need for industrial gearbox drive in constructure machinery. These gears are capable of working easily in a crane, lift, hoist, and material-handling equipment because of their excellent capabilities of high reliability and durability under heavy-duty applications.
 

Industrial Gearbox Market Trends

• According to Power Transmission, manufacturers across the globe are increasingly depending upon automation for speedier, cost-effective, and improved quality output. Servo manufacturers have accordingly created gearboxes that are wiser and deliver higher torque density. The key innovation in the design of gearbox is moving from a parallel shaft profile to actual planetary design. This allows sharing of loads across gears to yield higher torque as well as durability.
   
• Along with heat treatment procedures, the life of gearboxes is further prolonged. Heat treatment procedures make the hardness layer more than 30 times greater compared to other treatments.
   
• ZF Industrieantriebe, presented its new innovations for the mining and heavy construction sector. The company introduced several new innovations, such as a next generation Redulus4F Industrial Gearbox Series and Advanced Serviceability Solutions, based on the innovative ProVID Condition Monitoring System, with an expanded global support network that offers quick detection and maintenance promptly and efficiently. Developments in large gearbox applications to the mining industry are vital as equipment load demands, toughness and performance continue to be pushed ever higher.
   

Industrial Gearbox Market Analysis

The industrial gearbox industry by product type, In 2024, the helical segment reached USD 10.5 billion and planetary segment is expected to grow at CAGR of around 5% during 2025 to 2034.
 

• Helical gears, which are characterized by their smooth movement, durability, and high loads, are used across different industries, from automotive to aerospace, industrial machinery, and robotics. The automotive industry is a key source of demand for helical gears, driven in part by the growing production of automatic transmission cars as well as the shift toward electric vehicles (EVs).
   
• The aerospace industry require gears to function in rough conditions effectively. The durability and precision of helical gears render them perfectly suitable for flight, drones, and space ships. Asia Pacific region is a production and automobile manufacturing center that leads the demand for helical gears. China, Japan, and India are leading suppliers, driven by their huge automobile industries and growing industrial bases. Europe's focus on alternative power and advanced automotive technology, like the shift towards EVs and hybrids, makes it one of the key markets for helical gears. Germany, in particular, is renowned for its high-quality gear manufacturing.  
   

According to the application, the wind power segment held around 24% share of the industrial gearbox market in 2024, due to rising demand for clean and renewable energy.
 

• There is a strong trend towards offshore wind farms, which makes higher-capacity and more efficient gearboxes in demand. These turbines require robust gearboxes to deliver high-performance and long-term operation in harsh weather conditions.
   
• There is increasingly the application of automation in industries like warehousing and logistics, which has driven a higher demand for secure and effective gearboxes in conveyor systems and automated machinery.
   
• The increasing popularity of electric cars is transforming the demand for gearboxes. EVs need custom gearboxes capable of supporting high torque and transmitting energy efficiently.
   
• NGC Group has introduced a purpose-built medium-speed planetary gearbox for a totally integrated 20–22MW drivetrain. NGC has always been committed to continuous innovation and investment in the areas of clean energy, low consumption and high efficiency for decades.
   

According to the distribution channel, the industrial gearbox market is segmented into direct sales and indirect sales. Indirect sales accounted for over 71% of the market share in 2024.
 

• Most companies prefer direct distribution channels to purchase industrial gearboxes from the original manufacturers or their authorized dealers. This is a popular channel for large industrial applications where customization, special requirements, and bulk purchases are the case.
   
• Small and medium-sized enterprises that require a range of industrial gearboxes or have a shorter delivery time prefer the industrial equipment distributors. Industrial distributors are intermediaries between manufacturers and customers. They typically stock a wide variety of industrial gearboxes from different brands, as well as other industrial parts and machinery. A few companies, especially those requiring a special kind of industrial gearbox included in equipment or machinery, buy from the OEM. OEM-industrial gearboxes are usually packaged with complete machinery and systems.  
   

With about 80% of the North American industrial gearbox market share and estimated USD 7.2 billion in revenue, the United States led the market in 2024. The expansion of the U.S. industrial gearbox industry is primarily driven by advancement in gearbox technology, surging demand from various industries and rising demand for specialized gearbox.
 

• The use of automation in different industries, such as manufacturing and energy, is raising the demand for reliable and efficient industrial gearboxes. Investments in renewable energy, especially wind power, are propelling the demand for energy-efficient and durable gearboxes.
   
• The shift towards EVs in the automotive sector is also driving industrial gearbox growth. Gear prized for their compact size and high torque, are extensively utilized in EV drivelines, steering, and seat movement, and therefore are critical in this new market.
   
• According to the International Council on Clean Transportation, U.S. sales of new electric light-duty vehicles hit approximately 1.4 million in 2023, a rise from nearly 1 million in 2022, translating to a sales share of roughly 9%. The electric vehicle market's growth varied across states nationwide.  
   

Europe: In Europe the growth of robotics, smart manufacturing, and automated production lines is increasing the demand for superior gear systems, such as industrial gearboxes, because of their accuracy and torque. Germany, with its large industrial sector in automobiles, machinery, and robotics, is experiencing increasing demand for industrial gearbox in automated systems, CNC machines, and robot arms. European car sales surged by 18.6% as both EU and Eastern European markets grew. Russia and Ukraine, bouncing back from dramatic falls, demonstrated strong growth, while Türkiye experienced a 63.2% increase, coming close to one million units sold.  
 

Industrial Gearbox Market Share

• The top five companies in Bonfiglioli, Flender, Nippon Gear, Schaeffler Group, Sumitomo Heavy Industries and they collectively hold a share of 15%-20% in the market.
   
• These companies continue to acquire and merge with others, expand facilities, and make various collaborations to increase their product offerings, access customer bases, and secure their market positions.
   
• Bonfiglioli Transmissions Pvt Ltd, the Indian arm of Italy-headquartered Bonfiglioli Group and a top power transmission and drive solutions provider, is investing USD 3.2 billion to increase its operations in India. The new 25-acre facility in Cheyyar will start operations by 2025, making Bonfiglioli one of India's largest gearbox manufacturers. This investment is a follow-up to the company's expansion in Pune last year, which helped the company extend its competence for light and medium-duty industrial gearboxes.
   
• Schaeffler has extended the portfolio of machine tool precision bearings and direct drives to two forms of precision gear unit precision strain wave gear series RT1 and RT2, and precision planetary gearbox series PSC. Although the RT wave gears span a maximum torque from 28 to 484 Nm in five sizes, PSC gearboxes begin at 327 Nm, the smallest gear size being 030, and extend up to 5000 Nm.
   
• To improve the services and market share key players are constantly investing in technological activities and are also entering into partnerships to provide improved and better solutions for the customers. These investments are benefiting both companies and customers as they help develop and offer solutions as per the changing technological trends and thus the customer requirements.
   
• Flender India, a German Flender Group subsidiary, has revealed in November 2024 its plans to further invest in the Indian market as part of its expansion. Flender India aims to increase production of wind turbine drive gearboxes to supply local and foreign markets. More than 50% of products being manufactured in India are shipped overseas, reflecting India's increasing relevance in Flender's international business.
   
• Schaeffler has entered into a purchase agreement to acquire all the shares in Melior Motion GmbH. Taking over this precision gearbox supplier to the robotics industry as well as other automation fields enlarges the Industrial division of the Schaeffler Group's robotics portfolio.
   

Industrial Gearbox Market Companies

Major players operating in the industrial gearbox industry are:

• Abex Corporation
• Bonfiglioli
• Davall Gears
• Elecon Engineering
• Flender
• HJ Corporation
• Ishibashi Manufacturing
• Kissling
• Nippon Gear
• Premium Transmission
• Schaeffler
• Stober Antriebstechnik
• Sumitomo Heavy Industries
• WM Berg
• ZF Friedrichshafen
   

Industrial Gearbox Industry News

• In July 2024, Flender unveiled the global launch of the next extension of Flender One. The single stage gearboxes are available as versatile solutions for over one hundred different applications. The new gear units cover a wide range of application needs, including bucket elevators, belt conveyors, and hoisting applications.
   
• In March 2023, ZF Industrieantriebe introduced the next generation of large industrial and mobile mining gearboxes and solutions with advanced serviceability. The innovative Redulus4F construction kit includes 20 gearbox sizes designed to support up to a 40 percent increase in torque and covers a broad torque range (99 kNm up to 5800 kNm), resulting in higher load capacity and optimal machine performance.
   
• In March 2023, Elecon Engineering Company Limited industrial gear manufacturer unveiled its new version of EON series gearboxes. The 'NEW EON' is the newest addition to the already successful lineup of EON Gearboxes of Elecon and takes advantage of Elecon's seven decades of extensive domain experience in gear manufacturing. The 'NEW EON' is maintenance friendly, installation friendly, and in spite of its compact design, it is extremely efficient with its high torque and gear ratio.  
   

This industrial gearbox market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Thousand Units) from 2021 to 2034, for the following segments:

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Market, By Product Type

• Helical
• Bevel
• Worm
• Planetary
• Others (spur, spiral, etc.)   

Market, By Power

• Small (up to 500 kW)
• Medium (500 kW to 10 MW)
• Large (above 10 MW)     

Market, By End Use Industry 

• Wind power
• Material handling
• Construction
• Marine
• Energy
• Transportation
• Others (agriculture, mining etc.)       

Market, By Distribution Channel

• Direct sales
• Indirect sales

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa