Le Lézard
Classified in: Mining industry, Science and technology
Subject: MRR

Gear Manufacturing Market to grow by USD 113.74 billion from 2022 to 2027 | Adoption of industrial automation to drive the growth - Technavio

NEW YORK, Nov. 28, 2023 /PRNewswire/ -- The gear manufacturing market is expected to grow by USD 113.74 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 7.75% during the forecast period. The market is segmented by product (worm gear, bevel gear, and others), end-user (oil and gas industry, power industry, automotive, and spur gear and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

The adoption of industrial automation is a key factor driving market growth. Due to rising labor costs, coupled with the fact that some countries have overcapacity in their manufacturing industries, many firms are experiencing decreasing profit margins and difficulty maintaining operations. Moreover, the use of automation allows producers to reduce their operating costs by simultaneously improving staff efficiency and reducing losses resulting from human errors arising in manual handling and processing.

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Market Dynamics:

Major Trend

Significant Challenge

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Related Reports:

The geared motors and drives market size is estimated to grow by USD 8.45 billion at a CAGR of 7.3% between 2023 and 2028. 

The gear hobbing machines market size is estimated to grow by USD 127.39 million at a CAGR of 3.2% between 2022 and 2027. 


Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis


About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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