17 October, 2019
RALEIGH, North Carolina, October 17, 2019 - The global market for gearboxes is currently estimated to be worth $23.88 billion and for crushers is estimated to be $6.6 billion, according to Beroe Inc., a procurement intelligence firm. The market for gearboxes is driven by the growth of emerging nations and recovery of the US market, while the market for crushers is driven by an increase in metals output and growing industrialization.
High market maturity regions for gearboxes are North America, Europe, and Asia with Africa as a medium/low market maturity region. Asia accounts for 46 percent of the market with a market worth of $9.85 billion, growing at a rate of 3-5 percent. For crushers, high market maturity regions are North America, Europe, and Asia, with South America and Africa being medium/low market maturity regions. The APAC, with a market value of $3.9 billion, accounts for 60 percent of the market and is growing at a rate of 6–7 percent.
Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com
The growth in the downstream industries, such as mining, construction, food processing, and energy sector is expected to drive the growth of the gearboxes market, however, an uncertain financial environment poses a real threat. An increase in urbanization and mining activities act as major drivers for the crushers market, but the reduction in mineral output from mines and current mining industry slowdown are adversely impacting the crushers market.
The planetary gearbox is the fastest-growing among industrial gearbox category offering a host of benefits. Major applications and complex machines in the mining and power generation sector require larger precision gearboxes, which can run at the highest efficiency level. Mining industries extensively use jaw and cone crushers, where impact crushers are more popularly used for soft ores for the aggregates industry, such as stone, recycled concrete, and asphalt products.
The research methodology adopted for the report included:
Raw materials are the biggest cost components in the gearboxes and crushers markets, constituting 40–60 percent of the cost of production. For gearboxes steel rods and forgings account for 40 percent of costs and labor for 20–25 percent. For crushers, HRC Steel constitutes 48–53 percent of costs and electricity for 18-22 percent. To offset the large initial investment and sudden requirement, major companies sometimes indulge in rental agreements with the suppliers.
The report also includes:
Crushers and Gearbox
Crushers and Gearbox
Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits, and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.
To learn more about Beroe Inc., please visit: http://www.beroeinc.com
LiVE Event: Category Management For Procurement Professionals