Summary

The global gear manufacturing market size reached US$ 80.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 131.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.5% during 2024-2032. The bolstering growth of the automotive industry, the increasing demand for industrial high-performance gears, the extensive production application in medium and heavy-duty vehicles, and the shifting preference for renewable energy resources represent some of the key factors driving the market.

A gear is a wheel with inserted teeth that transfers motion and power between machine components. It is crucial in various industrial applications to transmit torque and speed, enable smooth power transmission, and achieve the desired speed and precise movement. The gear manufacturing process involves designing and engineering, which includes gear specifications, such as tooth profile, module, pitch diameter, and gear ratio. After the design is finalized, gears can be produced through numerous methods, including hobbing, shaping, milling, and grinding. Finally, they undergo various finishing processes, such as heat treatment, to enhance their strength and durability. This is followed by gear inspection, including gear rolling tests, backlash measurements, and tooth contact pattern analysis to ensure dimensional accuracy and proper tooth profile.

Gear Manufacturing Market Trends:
Gears are essential components in transmissions, drivelines, and differentials in a wide range of vehicles, including passenger cars, commercial vehicles, and off-road vehicles. As a result, the bolstering growth of the automotive sector and the increasing production of automobiles are prime factors driving the market growth. Besides this, gears are extensively used in a variety of consumer electronic products, including cameras, printers, gaming consoles, and home appliances, which, in turn, are aiding in market expansion. Moreover, the expanding industrial automation and the adoption of robotics in the manufacturing and logistics sectors are fueling the need for high-precision gears for efficient and reliable machinery operation. Concurrent with this, the rising demand for gearboxes for material handling equipment and heavy-duty machinery, such as cranes, excavators, and loaders used across the construction and mining industries, is contributing to the market growth. In addition to this, the growing product utilization across the thriving aerospace and defense sectors in aircraft engines, helicopters, military vehicles, and other critical applications is creating a positive outlook for the market. In line with this, the surging product utilization across wind turbines and solar tracking systems and the growing demand for precision gears in medical equipment, including imaging devices, surgical instruments, and robotic systems, are propelling the market forward. Furthermore, ongoing technological advancements, such as the development of high-performance materials, innovative gear designs, and improved manufacturing processes, are presenting remunerative growth opportunities for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global gear manufacturing market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product and end user.

Product Insights:

Worm Gear
Bevel Gear
Others

The report has provided a detailed breakup and analysis of the gear manufacturing market based on the product. This includes worm gear, bevel gear, and others.

End User Insights:

Oil and Gas industry
Power Industry
Automotive
Others

A detailed breakup and analysis of the gear manufacturing market based on the end user has also been provided in the report. This includes the oil and gas industry, power industry, automotive, and others. According to the report, automotive accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for gear manufacturing. Some of the factors driving the Asia Pacific gear manufacturing market included the expanding industrial automation, the rising demand for passenger and commercial vehicles, and the growing adoption of renewable energy sources.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global gear manufacturing market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Bonfiglioli S.P.A, David Brown Santasalo, Emerson Electric Co, Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid Powertrain Group (Comer Industries), WEG S.A. (WEG Participações e Serviços S.A.), ZF Friedrichshafen AG (Zeppelin-Stiftung), etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. How big is the global gear manufacturing market?
2. What is the expected growth rate of the global gear manufacturing market during 2024-2032?
3. What are the key factors driving the global gear manufacturing market?
4. What has been the impact of COVID-19 on the global gear manufacturing market?
5. What is the breakup of the global gear manufacturing market based on the end user?
6. What are the key regions in the global gear manufacturing market?
7. Who are the key players/companies in the global gear manufacturing market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Gear Manufacturing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Worm Gear
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Bevel Gear
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Others
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by End User
7.1 Oil and Gas industry
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Power Industry
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Automotive
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia-Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
9.1 Overview
9.2 Drivers
9.3 Restraints
9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Bonfiglioli S.P.A
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 David Brown Santasalo
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 Emerson Electric Co
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.3.3 Financials
13.3.3.4 SWOT Analysis
13.3.4 Rotork Plc
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.4.3 Financials
13.3.4.4 SWOT Analysis
13.3.5 SEW-EURODRIVE GmbH and Co KG
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Siemens AG
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.6.4 SWOT Analysis
13.3.7 Sumitomo Heavy Industries Ltd.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.7.4 SWOT Analysis
13.3.8 Walterscheid Powertrain Group (Comer Industries)
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 WEG S.A. (WEG Participações e Serviços S.A.)
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.9.3 Financials
13.3.9.4 SWOT Analysis
13.3.10 ZF Friedrichshafen AG (Zeppelin-Stiftung)
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
13.3.10.3 SWOT Analysis
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

List of Figures

Figure 1: Global: Gear Manufacturing Market: Major Drivers and Challenges
Figure 2: Global: Gear Manufacturing Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Gear Manufacturing Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 4: Global: Gear Manufacturing Market: Breakup by Product (in %), 2023
Figure 5: Global: Gear Manufacturing Market: Breakup by End-User (in %), 2023
Figure 6: Global: Gear Manufacturing Market: Breakup by Region (in %), 2023
Figure 7: Global: Gear Manufacturing (Worm Gear) Market: Sales Value (in Million US$), 2018 & 2023
Figure 8: Global: Gear Manufacturing (Worm Gear) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 9: Global: Gear Manufacturing (Bevel Gear) Market: Sales Value (in Million US$), 2018 & 2023
Figure 10: Global: Gear Manufacturing (Bevel Gear) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 11: Global: Gear Manufacturing (Other Products) Market: Sales Value (in Million US$), 2018 & 2023
Figure 12: Global: Gear Manufacturing (Other Products) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 13: Global: Gear Manufacturing (Oil and Gas industry) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Gear Manufacturing (Oil and Gas industry) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Gear Manufacturing (Power Industry) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Gear Manufacturing (Power Industry) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Gear Manufacturing (Automotive) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Gear Manufacturing (Automotive) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Gear Manufacturing (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Gear Manufacturing (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: North America: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: North America: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: United States: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: United States: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Canada: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Canada: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Asia-Pacific: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Asia-Pacific: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: China: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: China: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Japan: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Japan: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: India: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: India: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: South Korea: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: South Korea: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Australia: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Australia: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: Indonesia: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: Indonesia: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Others: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Others: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Europe: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Europe: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Germany: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Germany: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 47: France: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 48: France: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 49: United Kingdom: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 50: United Kingdom: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 51: Italy: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 52: Italy: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 53: Spain: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 54: Spain: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 55: Russia: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 56: Russia: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 57: Others: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 58: Others: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 59: Latin America: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 60: Latin America: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 61: Brazil: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 62: Brazil: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 63: Mexico: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 64: Mexico: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 65: Others: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 66: Others: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 67: Middle East and Africa: Gear Manufacturing Market: Sales Value (in Million US$), 2018 & 2023
Figure 68: Middle East and Africa: Gear Manufacturing Market: Breakup by Country (in %), 2023
Figure 69: Middle East and Africa: Gear Manufacturing Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: Global: Gear Manufacturing Industry: Drivers, Restraints, and Opportunities
Figure 71: Global: Gear Manufacturing Industry: Value Chain Analysis
Figure 72: Global: Gear Manufacturing Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Gear Manufacturing Market: Key Industry Highlights, 2023 & 2032
Table 2: Global: Gear Manufacturing Market Forecast: Breakup by Product (in Million US$), 2024-2032
Table 3: Global: Gear Manufacturing Market Forecast: Breakup by End User (in Million US$), 2024-2032
Table 4: Global: Gear Manufacturing Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 5: Global: Gear Manufacturing Market: Competitive Structure
Table 6: Global: Gear Manufacturing Market: Key Players