Rapid Expansion of Oil & Gas Industry Increases Adoption of Industrial Gearboxes

2024,12,11

Rapid expansion of the global oil and gas industry has increased the adoption of Industrial Gearboxes, fuelling the growth of the market. Industrial gearboxes are mainly used in the isolation, processing, and transportation of oil and gas for smooth operation of pumps, compressors, and other machinery. In addition, increase in exploration and production activities in offshore and deepwater areas is also expected to drive the market growth.

Industrial Gearboxes Market Segmentation Analysis

On the basis of product, the industrial gearboxes market is segmented into planetary, helical, and others.

The planetary segment is expected to account for the largest revenue share of the global industrial gearbox market during the forecast period, owing to the increasing demand for small and lightweight gearboxes with high power density. The design of planetary gearboxes facilitates higher torque-to-weight ratio as compared to other designs, which plays an important role in a range of industries, including robotics, aerospace, automotive, and others. Additionally, the growing need for precision and accuracy in various industrial applications is another factor driving revenue growth in this segment.

On the basis of application, the industrial gearbox market is segmented into wind power industry, cement industry, and others.

The wind power is expected to significantly increase the revenue share of the global industrial gearboxes market over the forecast period, owing to the increasing shift towards renewable energy sources across the globe. As a plan to reduce carbon emissions and combat climate change, governments and organisations are involved in the development of wind farms. Increasing focus on renewable energy sources has led to significant expansion of wind energy capacity, increasing the adoption of industrial gearboxes to facilitate efficient Power transmission from rotor to generator in wind turbines. Moreover, ultra-modern technological advancements in wind turbine design are also expected to drive market revenue growth. Larger and more powerful wind turbines have led to the realisation of industrial gearboxes that can handle higher torque and power, which can meet higher torque and power transmission requirements.

Author:

Ms. Davina

E-mail:

davina@bochequipment.com

Phone/WhatsApp:

+852 59360273