The products and solutions offered by the manufacturers and players functional in the global industrial gear market find applications in a wide range of end use industry verticals, including but not limited to, textile, pulp and paper, food and beverages, oil and gas, and automotive. The rising adoption of industrial automation in these as well as number of other industries is anticipated to put the gears in the motion for the development of the global industrial gear market in coming years. Furthermore, the increasing demand for passenger as well as commercial vehicles around the world is anticipated to bode well for the development of the global industrial gear market in coming years.
Owing to the presence of a massive number of manufacturing facilities and companies, Asia Pacific regions draws a significant amount of demand in the global industrial gear market. There are a number of drivers for the growth and expansion of the global industrial gear market in Asia Pacific, such as the access to low cost manufacturing and production techniques and equipment, widespread availability of professional labour as well as essential raw materials, and the region’s prominence as proximal to several automotive hubs in the world. The rising production of commercial as well as passenger vehicles in the region is also driving the growth within the global industrial gear market in Asia Pacific region.
Product development and production of new age innovative industrial gears is one of the major growth techniques utilized by the leading players in the global industrial gear market. The manufacturers and players functional in the global industrial gear market are leveraging latest industrial and manufacturing technologies to create and market technologically advanced and unique products. The major incumbent manufacturers and players working in the global industrial gear market include Siemens AG, Hota Industrial Manufacturing Co., Ltd., Bharat Gears Ltd., Precipart Corporation, Aero Gear Incorporated, Ashoka Machine Tools Corporation, Meritech Group, ABB Ltd., martin Sprocket & gear, Inc., Okubo Gear Co., Ltd., Elecon Engineering Company Limited, Kohara Gear Incorporated, Shanthi Gears Limited, Cleveland Gear Company, and Bevel Gears India Pvt. Ltd., among others.
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