The Industrial Gearbox Market is driven by increasing demand for energy-efficient gear systems
The Global Industrial Gearbox Market is estimated to be valued at US$ 14.96 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
The Industrial Gearbox Market Demand for energy-efficient industrial gearboxes from industries such as oil & gas, power generation, mining, marine, and manufacturing is a major factor driving the market. Industrial gearboxes provide high torque capabilities with efficiency of over 97% and enable optimum utilization of power from prime movers.
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