Industrial gearboxes market to touch Rs 2,000 Cr

August 14, 2017 12:57 pm

With growing population and increasing income levels, industries such as oil and gas, textile, food and beverage, pharmaceuticals, pulp and paper are in the process of expanding and renovating their facilities in India to meet with the increased needs of the people. Such process industries are always in expansion mode and thus they are in demand of plants and machineries which are driven by geared motors.

The global industrial gearboxes market is expected to grow at CAGR 4.4 per cent. In India, today estimated market size of industrial gearboxes is worth approximately Rs 1,500 crore. This market is expected to touch Rs 2,000 crore in coming years.

The industrial gearboxes industry in India is populated with large number of vendors. And unfortunately, because of price competition, some of the Indian manufacturers are engaged in importing substandard products from China which bears a negative impact on final equipment performance and reliability.

However customers today are more knowledgeable and looking for technically advanced products. To meet these expectations, gearbox industry is investing heavily in R&D to provide efficient gearbox systems to end-users. Therefore among all the industrial gearboxes available in the market, it is observed that planetary gearboxes have seen a recent surge in demand due to increase awareness. Among Vashi Electricals’s customer base, bevel helical gear units are becoming popular in replacing conventional gearboxes like standard worm gearboxes which are less efficient.

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