Power Transmission Gearbox Market Size & Share, by Transmission Type (Mechanical, Automatic, Hybrid); Products (Planetary, Helical); Stage (3-Stage, 4-Stage, 5-Stage, Multistage); Material (Cast Iron, Aluminum, Brass); End User (Energy, Automotive, Mining, Aerospace, Marine, Chemical) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5323
  • Published Date: Oct 18, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Power Transmission Gearbox Market size is expected to cross USD 46 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of power transmission gearbox was over USD 33 Billion. The growth of the market can be attributed to the growing need for energy-efficient systems. Energy-efficient technologies help to decrease the development of energy demand while also lowering fossil fuel usage and emissions in all areas of the economy. More energy-efficient automobiles, trucks, and aircraft, for example, reduce oil demand in the transportation sector; more efficient steel, cement, and chemical manufacturing reduces fossil fuel use in the industry The International Energy Agency has started the E4 program of energy efficiency with two emerging regions, Latin America and ASEAN. This programme focuses on energy efficiency through well-formed commercial and political ties.

In addition to these, factors that are believed to fuel the power transmission gearbox market growth include, rising automation across various industries. Automation has drastically reduced the cost of labour as it replaces manual work with automated tasks. Therefore, companies are rapidly shifting towards automation and investing heavily to promote their integration of automated machinery. Companies all over the world are spending big on robotics and automation. Many expect automated systems to account for 25% of capital spending over the next five years. Power transmission gearbox play an important role in automated industries that enables the smooth transfer of mechanical power from one source to another. This ensures the seamless running of several automated machines and sustains the working of the industry. Moreover, power transmission gearboxes need further increases with the use of robots in manufacturing processes, since it ensures the precise control of the movements of robotic arms and robots.

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Power Transmission Gearbox Market: Growth Drivers and Challenges

Growth Drivers

  • Increasing Development of Energy Efficient Buildings - Building operations account for 30% of global final energy consumption and around 26% of global energy-related emissions out of which around 8% are direct emissions in buildings and 18% are indirect emissions from the generation of electricity and heat employed in buildings. To address the issue, Net Zero Emission by 2050 goals aims at achieving the ambitious target of new energy efficient building and turning around 20% of existing buildings carbon neutral by 2030. Power transmission gearboxes are employed in the components and technology that are used to achieve energy efficiency in the buildings. Some of the key technology that uses power transmission gearbox, includes HVAC systems, window and shading systems, elevator systems, solar tracking systems, building automation systems, energy recovery system, and others.
  • Rising Demand for Lightweight and Small Gearboxes - Small and lightweight gearboxes are usually developed to focus on the reduced size and not compromise on efficiency.  Therefore, this makes them best suited for a wide range of applications, especially where there is restricted space and weight is a crucial factor. Therefore, the demand for lightweight and small gearboxes has increased from several applications, such as robotics, aerospace control systems, automotive transmission, medical devices, and consumer electronics. Furthermore, emergency technologies, including wearables, drones and other autonomous systems rely mainly on small and lightweight gearboxes, so that these devices can be small and have precise control.
  • Rising Demand for High-Speed Machines - The need for high-speed machines is booming, due to rising demand for efficient and quick manufacturing processes across a wide range of industries. Manufacturers are increasingly using these devices to address the increased need for high-volume manufacturing. The focus of the manufacturing sectors is always on faster machining of components paired with better throughput without compromising accuracy, surface polish, and repeatability. High-speed machining uses a spindle rotation rate of more than 20000rpm and greater feed rates than conventional machining, and eliminating material is accomplished with small-size cutting tools that provide faster and lighter cuts.


  • Higher Competition from Other Alternatives of Power Transmission Gearbox - Alternative technologies, such as direct drives, variable frequency drives, and hydraulic systems are giving tough competition to power transmission gearboxes. All these alternatives are suitable for various applications and thus can drive the customers away from the power transmission gearbox. Direct drive systems eradicate the need for gearboxes since they directly connect the motor to the load. Moreover, hydraulic systems offer precise control, and power density and tolerate heavy loads in many heavy-duty applications. Industries, such as agriculture and construction majorly rely on hydraulic transmission. Furthermore, electronic control systems efficiently control the motor accurately and pose a serious threat to replacing the gearboxes in many applications, especially automation and robotics.
  • High cost of maintaining and repairing the gear power transmission gearbox
  • Rising evolution of electric vehicles

Power Transmission Gearbox Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2023)

~ USD 33 Billion

Forecast Year Market Size (2036)

~ USD 46 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Power Transmission Gearbox Segmentation

Products (Planetary, Helical)

Power transmission gearbox market from the planetary segment is estimated to gain the largest revenue share of about 60% in the year 2036. The growth of the segment can be attributed to the rising need for compact and lightweight gearboxes. In comparison to other designs, planetary gearbox designs provide a higher ratio of torque to weight. The demand for a higher torque to weight ratio has been increasingly important in several industries, such as automotive, robots, aerospace, and others. furthermore, the need for accuracy and precision in all other industrial applications, such as Computer Numerical Control (CNC) machines, robotics, and press printing is also expected to drive the segment growth in the power transmission gearbox market. Planetary gearboxes provide high precision that enables equal distribution of load across the gear with multiple, thus facilitating seamless and highly monitored motion.

End User (Energy, Automotive, Mining, Aerospace, Marine, Chemical)

The automotive segment in the power transmission gearbox market is expected to hold 30% of the revenue share by 2036. The growth of the segment is majorly attributed to the growing demand for automobiles. In 2022, approximately 85 million automobiles have been produced globally. This figure represents a spike of around 6% over the previous year. In 2022, China, Japan, and Germany were the top three makers of automobiles and commercial vehicles. Power gearbox gearboxes are essential in the operation of automobiles because they ensure a smooth transfer of power from the engine to the axles. Engines operate at a variety of speeds and power levels to optimize efficiency. By selecting the optimal gear ratio, gearboxes permit the engine to function within this power spectrum while improving fuel efficiency.  Furthermore, the growing production of automatic cars has further increased the demand for power transmission gearboxes in the automotive sector. Planetary gearsets and torque converter, automatically select the appropriate gear ratio based on driving conditions. Hence it provides a seamless driving experience in modern vehicles.

Our in-depth analysis of the global power transmission gearbox market includes the following segments:

                           Transmission Type

  • Mechanical
  • Automatic
  • Hybrid


  • Planetary
  • Helical


  • 3-Stage
  • 4-Stage
  • 5-Stage
  • Multistage


  • Cast Iron
  • Aluminum
  • Brass

                             End User

  • Energy
  • Automotive
  • Mining
  • Aerospace
  • Marine
  • Chemical

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Power Transmission Gearbox Market - Regional Synopsis

North American Market Forecast

The power transmission gearbox market in North America is projected to be the largest with a share of about 35% by the end of 2036. The growth of the market can be attributed majorly to the expanding automotive industry. The automobile sector in North America is significant. Vehicle production, especially trucks and large dusty vehicles is heavily reliant on power gearbox gearboxes. Furthermore, rapid preference changes of consumers towards SUVs, recreational vehicle and pickup trucks have led to increased demand for gearboxes. In December 2022, the United States Motor Vehicle Production had been estimated to be around 10 million units. This is an increase over the prior figure of nearly 9 million units for December 2021. Furthermore, trucks account for approximately twenty per cent of U.S. sales in 2022, slightly more than cars. surprisingly, pickups from the brands Ford F-Series, Chevy Silverado, and Ram Pickup constitute three of this year's top five best-selling vehicles.

APAC Market Statistics

The Asia Pacific power transmission gearbox market is estimated to be the second largest, registering a share of about 28% by the end of 2036. The growth of the market can be attributed majorly to the increasing expansion of industries and higher adoption of robots. Asia-Pacific represents the world's fastest-growing economic powerhouse. Since the turn of the century, significant economic growth has lifted approximately 1 billion people out of subject poverty. Industry employment has expanded dramatically in the ASEAN-4 countries (excluding the Philippines), as well as in the PRC and India; it has also increased in most of Central and West Asia. In addition, there is a strong manufacturing base of automobiles in the countries such as China, that is further creating opportunities for the power transmission gearbox market growth in the region.

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Companies Dominating the Power Transmission Gearbox Market

    • The Timken Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Dorris Gear Drives
    • Diequa Corporation
    • Lafert North America
    • JATCO Ltd.
    • Essential Power Transmission Pvt., Ltd.
    • Hangzhou Ever-Power Transmission Co., Ltd.
    • ZF Friedrichshafen AG
    • China High-Speed Transmission Equipment Group Co., Ltd.

In the News

  • The Timken Company, one of the pioneers of engineering bearings and industrial machine products has announced the acquisition of Rosa Sistemi S.p.A. a European manufacturer of liner motion bearings, roller guideways, liner systems and actuators, and precision ball screws. This acquisition offers appealing operational efficiencies as well as geographical development potential to scale and grow the firm by using its global base. Rosa Sistemi's roller guides and tailored actuators are extremely supportive product lines to Timken's linear motion product solutions from Rollon, Nadella, and Intelligent Machine Solutions (IMS).
  • Elecon Engineering Company Limited, the leading manufacturer of gearboxes in Asia, has announced the launch of the new upgraded model of AEON series gearbox. The new AEON has many advanced features, and it's much simpler to install and upkeep. The model is highly compact and regardless of its small size, the gearbox has high torque and gear ratio. Therefore, it helps customer to reduce the downtimes and boost the productivity of their industries.

Author Credits:  Dhruv Bhatia

  • Report ID: 5323
  • Published Date: Oct 18, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand for energy-efficient buildings and the rising need for small gearboxes are the major factors driving the market growth.

The market size of power transmission gearbox is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2024-2036.

The major players in the market are Dorris Gear Drives, Diequa Corporation, Lafert North America, ELECON ENGINEERING CO., LTD., JATCO Ltd., Essential Power Transmission Pvt., Ltd., Hangzhou Ever-Power Transmission Co., Ltd., ZF Friedrichshafen AG, China High-Speed Transmission Equipment Group Co., Ltd., and The Timken Company.

The automotive segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Power Transmission Gearbox Market Report Scope

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