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WiseGuyRerports.com Presents “Global Industrial Girth Gear Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” New Document to its Studies Database
Industrial girth gears are used for powering huge, rotating systems like horizontal mills and dryers. Growing demand for cement plants is a primary reason for the growth of the industrial girth gear market. The industrial girth gears market is expected to grow at a CAGR of 1% by 2024.
Most industries are adopting industrial girth gears due to the regular advancements in gear manufacturing technology. Further, automated inspection software such as Finite Element Analysis allows for the production of larger girth gears that are 45-50 feet in diameter. Manufacturing technologies are continuously adopting new technologies, resulting in the growing demand for industrial girth gear applications, particularly in harsh industrial environments like metals & mining, and chemical & petrochemicals.
Increasing investments in waste management will also propel market growth in the coming years. 2.01 billion tons of solid waste was generated in 2016, as reported by waste-to-energy plants, leading to growing opportunities in the industrial girth gears market.
Changing raw material prices will hinder the construction of industrial girth gear, thus affecting the overall market growth.
David Brown Santasalo
FLSmidth MAAG Gear
PWT Van Der Wegen
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The industrial girth gear market can be segmented by end-user, which includes mining, metal fabrication, cement, and chemicals & petrochemicals. Of these, cement had the most substantial market share in 2018. Cement production has the most uses for industrial gears, such as in mills, grinding machines, rotary kilns, and dryers. This rising demand is a result of the growing number of cement plants across the world. Government initiatives and construction activities are also expected to propel the demand for cement, further increasing the requirement for industrial girth gears in the forecast period.
Geographically, North America, Europe, the Asia Pacific, and the Middle East & Africa are the primary contributors to the industrial girth gears market.
The growing number of industries in the Asia Pacific has led to a rapid increase in the demand for industrial girth gears. India and China are the major contributors to this growing demand, owing to the strong presence of industries.
North America and Europe are also major contributors to the prevalence of industrial and manufacturing units, and government regulations allowing for the use of advanced industrial machinery and gears. The Middle East & Africa are emerging markets for the use of industrial girth gears.
The industrial girth gears market is fragmented by various industry leaders. Some of the strategies adopted by such leaders to increase their foothold in the market include better after-sales service, unique designs, and using advanced technology to increase cost-efficiency. The focus on providing after-sales services is expected to witness slow growth due to the longer lifetime of the gears.
Porter’s Five Forces analysis is an excellent way to determine the industry growth and competitive intensity of the industry. It employs five factors, namely the bargaining power of the buyers and of suppliers, growing competition and substitutes, and industry rivals to determine the market growth in the coming years.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Market Competition, by Players
4 Global Market Size by Regions
5 North America Revenue by Countries
6 Europe Revenue by Countries
7 Asia-Pacific Revenue by Countries
8 South America Revenue by Countries
9 Middle East and Africa Revenue by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Global Market Size Forecast (2019-2024)