The bevel gears market is estimated to grow at a CAGR of 2.9% during the forecast period.
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Bevel gears are a type of gear that is specifically designed for intersecting shafts, and they possess tooth-bearing surfaces that have a conical shape. Such gears owing to their high mechanical advantage are majorly used in automotive, aerospace, marine, and industrial sectors serving as essential components for different end users. The ongoing automotive and aerospace expansion coupled with the booming power & energy sector has emerged as a significant driving force behind the substantial growth of the bevel gears industry. The surge in automotive sector bolsters the bevel gears market growth. Bevel gears play a vital role in transferring torque at various angles, enabling smooth and reliable operation of different vehicle components such as axles, and steering systems. The increasing demand for automobiles worldwide coupled with ongoing efforts by manufacturers to improve overall performance and fuel efficiency has propelled the need for efficient power transmission systems within vehicles thereby fuelling the demand for bevel gears. According to the International Organization of Motor Vehicle Manufacturers, Argentina experienced a significant surge in total vehicle production in 2022, reaching a remarkable figure of 536,893 units. This represents a notable growth rate of 24% compared to the previous year, where vehicle production stood at 434,753 units in 2021. Rise in power & energy drive bevel gears market growth. Bevel gears are critical components used in power & energy applications to enable the efficient transmission of power and torque while accommodating various angles and shaft orientations. The expansion of power generation facilities, including wind turbines, hydroelectric plants, and solar power systems has accelerated the demand for efficient and reliable gear systems to transfer rotational energy. According to the Department of Energy, in 2022, the United States witnessed significant growth in the installation of solar photovoltaic (PV) systems, reaching 17.0 GWac and a cumulative installed capacity of 110.1 GWac. Additionally, energy storage integration into the electric grid experienced a substantial increase of 34% year-over-year. Booming industrial automation drives the bevel gears market expansion. Bevel gears play a vital role in industrial robots, enabling precise power transmission, accurate positioning, and reliable performance within robotic systems. The growing industrial automation backed by favorable government initiatives and investment inflows across diverse sectors has significantly boosted the demand for bevel gears as indispensable components in automated machinery. According to the International Federation of Robotics, the annual installation of industrial robots is expected to rebound strongly and grow by around 13%, reaching 435000 units in 2021 exceeding the record of previous years. Asia-Pacific is anticipated to dominate the market. Asia Pacific is projected to account for a major share of the bevel gears market owing to the region’s robust growth in automotive, power, and energy coupled with the rapid adoption of automation technologies in industrial sectors which stimulates the bevel gear’s demand. For instance, In June 2022, Ayana Renewable Power Pvt Ltd (Ayana) announced its plans to invest Rs 12,000 crore in Karnataka, aiming to set up renewable energy projects totaling 2 gigawatts (GWs). Also, according to the International Trade Administration, Australia witnessed a significant increase in vehicle sales in 2021, with a total of 1,049,831 new passenger cars, SUVs, and commercial vehicles sold in the domestic market, marking a notable rise from the 916,968 vehicles sold in 2020. Alternative availability will restrain the bevel gears market growth. The growth of the bevel gears industry may be restrained by the emergence of alternative technologies or solutions that can potentially replace or reduce the demand for bevel gears. For instance, advancements in electric and hybrid vehicle technologies have the potential to reduce the need for bevel gears traditionally used in combustion engines. Additionally, the adoption of alternative power transmission systems or the development of innovative gearless technologies could further impact the growth trajectory of the bevel gears market. These alternative solutions pose a challenge to the market's expansion and may require the bevel gears industry to adapt and innovate to remain competitive in a changing landscape. Key Developments Company Products Bevel Gears Market Scope: Report Metric Details Growth Rate CAGR of 2.9% from 2021 to 2028 Base Year 2021 The bevel gears market is estimated to grow at a CAGR of 2.9% during the forecast period. Bevel gears are a type of gear that is specifically designed for intersecting shafts, and they possess tooth-bearing surfaces that have a conical shape. Such gears owing to their high mechanical advantage are majorly used in automotive, aerospace, marine, and industrial sectors serving as essential components for different end users. The ongoing automotive and aerospace expansion coupled with the booming power & energy sector has emerged as a significant driving force behind the substantial growth of the bevel gears industry. The surge in automotive sector bolsters the bevel gears market growth. Bevel gears play a vital role in transferring torque at various angles, enabling smooth and reliable operation of different vehicle components such as axles, and steering systems. The increasing demand for automobiles worldwide coupled with ongoing efforts by manufacturers to improve overall performance and fuel efficiency has propelled the need for efficient power transmission systems within vehicles thereby fuelling the demand for bevel gears. According to the International Organization of Motor Vehicle Manufacturers, Argentina experienced a significant surge in total vehicle production in 2022, reaching a remarkable figure of 536,893 units. This represents a notable growth rate of 24% compared to the previous year, where vehicle production stood at 434,753 units in 2021. Rise in power & energy drive bevel gears market growth. Bevel gears are critical components used in power & energy applications to enable the efficient transmission of power and torque while accommodating various angles and shaft orientations. The expansion of power generation facilities, including wind turbines, hydroelectric plants, and solar power systems has accelerated the demand for efficient and reliable gear systems to transfer rotational energy. According to the Department of Energy, in 2022, the United States witnessed significant growth in the installation of solar photovoltaic (PV) systems, reaching 17.0 GWac and a cumulative installed capacity of 110.1 GWac. Additionally, energy storage integration into the electric grid experienced a substantial increase of 34% year-over-year. Booming industrial automation drives the bevel gears market expansion. Bevel gears play a vital role in industrial robots, enabling precise power transmission, accurate positioning, and reliable performance within robotic systems. The growing industrial automation backed by favorable government initiatives and investment inflows across diverse sectors has significantly boosted the demand for bevel gears as indispensable components in automated machinery. According to the International Federation of Robotics, the annual installation of industrial robots is expected to rebound strongly and grow by around 13%, reaching 435000 units in 2021 exceeding the record of previous years. Asia-Pacific is anticipated to dominate the market. Asia Pacific is projected to account for a major share of the bevel gears market owing to the region’s robust growth in automotive, power, and energy coupled with the rapid adoption of automation technologies in industrial sectors which stimulates the bevel gear’s demand. For instance, In June 2022, Ayana Renewable Power Pvt Ltd (Ayana) announced its plans to invest Rs 12,000 crore in Karnataka, aiming to set up renewable energy projects totaling 2 gigawatts (GWs). Also, according to the International Trade Administration, Australia witnessed a significant increase in vehicle sales in 2021, with a total of 1,049,831 new passenger cars, SUVs, and commercial vehicles sold in the domestic market, marking a notable rise from the 916,968 vehicles sold in 2020. Alternative availability will restrain the bevel gears market growth. The growth of the bevel gears industry may be restrained by the emergence of alternative technologies or solutions that can potentially replace or reduce the demand for bevel gears. For instance, advancements in electric and hybrid vehicle technologies have the potential to reduce the need for bevel gears traditionally used in combustion engines. Additionally, the adoption of alternative power transmission systems or the development of innovative gearless technologies could further impact the growth trajectory of the bevel gears market. These alternative solutions pose a challenge to the market's expansion and may require the bevel gears industry to adapt and innovate to remain competitive in a changing landscape. Key Developments Company Products Bevel Gears Market Scope: Report Metric Details Growth Rate CAGR of 2.9% from 2021 to 2028 Base Year 2021 Forecast Period 2023 – 2028 Forecast Unit (Value) USD Billion Segments Covered Type, Material, End-User, and Geography Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific Companies Covered The Adams Company, Gear Motions, Atlas Gear Co. , B. V. Transmission Industries, Boston Gear, AmTech OEM, Tracey Gear & Precision Shaft, Designatronics Inc., Bevel Gear CO., LTD, HighField Gears Customization Scope Free report customization with purchase Segmentation matejmo/Getty Images Gears are used in tons of mechanical devices. Most importantly, they provide a gear reduction in motorized equipment. This is key because often a small motor spinning very fast can provide enough power for a device, but not enough torque, the force that causes an object to rotate on an axis or twist. For instance, an electric screwdriver has a very large gear reduction (reduction in the speed of a rotary machine such as an electric motor) because it needs lots of torque to turn screws. But the motor only produces a small amount of torque at a high speed. With a gear reduction, the output speed can be reduced while the torque is increased. Gears also change the direction of rotation. For instance, in the differential between the rear wheels of your car, the power is transmitted by a shaft that runs down the center of the car, and the differential has to turn that power 90 degrees to apply it to the wheels. Advertisement There are a lot of intricacies in the different types of gears. In this article, we'll learn exactly how the teeth on gears work, and we'll talk about the different types of gears you find in all sorts of mechanical gadgets. Forecast Period 2023 – 2028 Forecast Unit (Value) USD Billion Segments Covered Type, Material, End-User, and Geography Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific Companies Covered The Adams Company, Gear Motions, Atlas Gear Co. , B. V. Transmission Industries, Boston Gear, AmTech OEM, Tracey Gear & Precision Shaft, Designatronics Inc., Bevel Gear CO., LTD, HighField Gears Customization Scope Free report customization with purchase Segmentation matejmo/Getty Images Gears are used in tons of mechanical devices. Most importantly, they provide a gear reduction in motorized equipment. This is key because often a small motor spinning very fast can provide enough power for a device, but not enough torque, the force that causes an object to rotate on an axis or twist. For instance, an electric screwdriver has a very large gear reduction (reduction in the speed of a rotary machine such as an electric motor) because it needs lots of torque to turn screws. But the motor only produces a small amount of torque at a high speed. With a gear reduction, the output speed can be reduced while the torque is increased. Gears also change the direction of rotation. For instance, in the differential between the rear wheels of your car, the power is transmitted by a shaft that runs down the center of the car, and the differential has to turn that power 90 degrees to apply it to the wheels. Advertisement There are a lot of intricacies in the different types of gears. In this article, we'll learn exactly how the teeth on gears work, and we'll talk about the different types of gears you find in all sorts of mechanical gadgets. Are you interested in learning more about Kexin Gear? Contact us today to secure an expert consultation!
Bevel Gears Market Size & Share: Industry Report, 2023- ...
How Gears Work
How Gears Work