Latest News- Bevel Gears Market: Straight bevel gears is expected to lead the Type segment during 2025-2029

The Bevel Gears Market is being driven by Expansion of manufacturing facilities

The Bevel Gears Market is expected to grow at a CAGR of 7.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18.9 billion. The global bevel gears market is experiencing robust growth due to the escalating adoption of automation and robotics technologies in various industries. This trend is driven by substantial investments in advanced manufacturing facilities and technologies, aimed at enhancing production efficiency and meeting the rising demand for precision-engineered products. In line with this trend, Mitsubishi Electric, a leading industrial automation company, announced plans to establish a new factory in India in mid-2022. This facility will produce advanced factory automation control systems, including high-efficiency inverters, to address the growing need for automation solutions in India's rapidly expanding industrial sector. The establishment of this factory is expected to streamline production processes, reduce operational costs, and improve product quality, ultimately leading to increased demand for bevel gears in various applications. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Straight bevel gears
  • Spiral bevel gears
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expansion of manufacturing facilities
• Increasing investments in aircraft production
• Increase in contracts for marine ships

However, the market also witnesses some limitations, which are as follows:

• Competition from alternatives
• Increasing raw material costs
• High cost of bevel gears

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Market Scope in Bevel Gears Market Research Report

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Research Analysis Overview

The Bevel Gears Market encompasses the production and sale of bevel gears, essential mechanical components for power transmission in various industries. These gears facilitate motion and torque transmission between intersecting shafts in commercial machinery, aerospace, high-performance machinery, robotics and automation. Straight bevel, spiral bevel, zerol bevel, hypoid bevel gears are key types, used in applications with high torque loads, differential drives, and advanced transmission systems. Materials include steel, bronze, and plastic, catering to industries like automotive (hybrid and electric vehicles, UAVs), and aerospace, prioritizing energy efficiency, carbon footprint reduction, and high-strength alloys.

Market Research Overview

The Bevel Gears market is a segment of the larger industrial machinery and supplies and components market, which encompasses businesses manufacturing industrial machinery and components. This market includes sectors such as presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications. According to Technavio, the global industrial machinery and supplies and components market size is determined by the combined revenue generated by these manufacturers. Factors driving growth in this market include increasing industrial output and capacity expansions in process and discrete industries, particularly in developing countries, due to the expanding demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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