Gearboxes and Crushers Market Currently Growing at a CAGR of 4-6 Percent, Says Beroe Inc
Source: PR Newswire
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 global gearbox market is fragmented with a lot of industrial participants and a few major players consolidating half the market. European manufacturers lead in this sector with a market share of around 35 percent.
- The global crushers market is fragmented with regional players offering cost-effective solutions. Metso, Terex, Sandvik, Atlas Copco cumulatively constitute approximately 30 percent of the market. Product innovation, acquisitions, and global reach are their key strengths.
- The barrier to new entrants is high in the global gearboxes and crushers market as both the products require high capital investment to set up the production facility and require skilled labor.
- For gearboxes and crushers, most of the BCCS suppliers accept 30 percent payment in advance and remaining prior to the delivery of equipment from the suppliers' side. Some of the suppliers also accept payment with a 100 percent Letter of Credit (LC) at sight.
- Standard gearboxes are usually sold to distributors at listed prices and customers can procure these gearboxes directly. For crushers, buyers have the option of buying from manufacturers directly or through dealers.
The research methodology adopted for the report included:
- Experts with twenty years of domain experience
- Interaction with buyers
- Inputs from supply chain partners
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
- Global Market
- Regional Analysis
- Regional Supply and Demand Trends
- Porter's Analysis
- Supplier Landscape
- Supplier Overview
- SWOT Analysis
Cost and Pricing Analysis:
Crushers and Gearbox
- Cost Structure Analysis
- Cost Driver Analysis
- Price Trends
Contract Structure by Suppliers:
- Contract Structure
- Industry Best Practices
About Beroe Inc.:
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