Industrial Gear Market - Growing Competition Is Expected to Ensure Steady Market Growth Rate over the Forecast Period

Industrial Gear Market (Type - Helical Gears, Bevel Gears, Worm Gears, Spur Gears, Herringbone Gears, Hypoid Gears, Crown Gears, Skew Gears, Spiral Gears, Non-Circular Gears, Epicyclic Gears, Harmonic Gears, and Magnetic Gears; Application - Oil and Gas, Steel and Manufacturing, Material Handling, Machine Tools, Pulp and Paper, Automotive, Mining, Plastic, and Cement) - Europe Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024


Albany, NY -- (SBWire) -- 06/12/2017 --Europe Industrial Gear Market: Overview

This report provides strategic analysis of the Europe industrial gearmarket, and the market growth forecast for the period 2016 to 2024. The scope of the report includes competitive analysis of various market segments based on the types, end use industries of the industrial gear market.

Spur gears are the simplest type of gears that have straight teeth and are mounted on parallel shafts. These gears are used in material handling equipment, power plants, steel mills among others. Demand of these gears are high as they are easy to install and are compact, reliable and can transmit huge amount of power.

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Due to easy installation and reliability of these gears, spur gears is acting as one of the key trend in the industrial gears market in the region of Europe. Another major advantage of these gears is that it offers constant velocity ratio.Europe industrial gear market is mostly privatized and the industry comprises both international and local companies. Considering the new technologies introduced in the industrial gear market, the market provides attractive opportunities for the manufacturers of industrial gears. As a result of which, the market is experiencing an important level of competition.

Industrial gears help in reducing the mechanical works in industries as it performs tasks by implementing less effort. It helps in operating various machines and carry out heavy works easily. These gears are used in heavy industries which help in changing direction of rotational force from one axis to other.

The Europe industrial gear market is restrained by the huge cost of maintenance. One of the major concern for the manufacturing industries is the maintenance of the gears. Moreover, the cost of the spares are high and would incur huge cost.

Advancement in technology is an important opportunity in the Europe industrial gear market.Companies are focused on redesigning gears that are likely to produce less noise, heat and will increase the life cycle of the gears.

Europe Industrial Gear Market: Segmentation

On the basis of end use industries the industrial gear market is bifurcated into oil and gas, steel and manufacturing, material handling, machine tools, pulp and paper, automotive, mining, plastic, cement and others. Material handling accounted for the highest market revenue in 2015. It is one of the major part of industry practice and the material handling methods result in improved productivity and less cycle time. The material handling industry is primarily categorized as cranes and hoisting technologies. In this industry, gears are used in tower cranes, gantry crane, drilling rigs, offshore cranes among others. This segment accounted for the highest revenue share in 2015.

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Based on gear types the market is bifurcated into helical gears, bevel gears, worm gears, spur gears, herringbone gears, hypoid gears, crown gears, skew gears, spiral gears, non-circular gears, epicyclic gears, harmonic gears, magnetic gears and others. The helical gears accounted for the highest revenue share in 2015. Helical gears are the cylindrical gears having a slanted tooth trace. As the gear is curved, the angling makes the tooth shape a segment of a helix. These gears are engaged in heavy load applications and is used to transmit the power and motion between two parallel shaft and non-parallel shaft as well. The major constraints of this gear is that it requires more maintenance like proper lubrications, because of the greater sliding movement between the mating gear teeth. The helical gears are used in various applications like steel, fertilizers, plastic, food industries and many others. This gear accounted for highest revenue share in 2015.Moreover, the market is also segmented based on country that includes the U.K., Germany, Italy, France and Rest of Europe.

Europe Industrial Gear Market: Competitive Dynamics

Some of the leading players in the market are Siemens AG (Germany), Klingelnberg GmbH (Switzerland), Precipart Corporation (U.S.), RenoldPlc (U.K.), BonfiglioliRiduttori S.P.A. (Italy), BMT International S.A. (Luxembourg), Rossi SpA (Italy), Getriebebau NORD GmbH & Co. KG (Germany), NGC (China), Sumitomo Heavy Industries Ltd. (Japan) among others.

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