According to a new market research report, the global industrial gearbox market is projected to reach $66.6 billion by 2030. The market, which was valued at $46.6 billion in 2022, is expected to grow at a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030. The analysis highlights the growth opportunities in the helical and planetary segments.
The industrial gearbox market is highly competitive, with 176 prominent competitors. Some of the key players in this market include:
– [List of key players]
The global economic outlook is showing signs of improvement, with a projected growth recovery for the current year and the next. Despite challenges such as inflation, regulatory changes, and climate considerations, the introduction of new technologies like AI, machine learning, renewables, and quantum technologies is expected to drive incremental growth and value to the global GDP in the years to come.
Amidst the persisting uncertainties, businesses that demonstrate resilience and adaptability have the potential to seize opportunities in this evolving economic landscape.
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Overall, the global industrial gearbox market is projected to experience significant growth, reaching $66.6 billion by 2030. The market analysis emphasizes the importance of the helical and planetary segments, and the competitive landscape of the industry is highlighted with key players listed. Additionally, the article mentions the positive global economic outlook and the opportunities that new technologies can bring.
