Engineered Gearbox and Drives Market Size , Share , Trends , Analysis and Forecasts To 2021
Market Research analysts forecast the global engineered gearbox and drives market to grow at a CAGR of 4.08 % during the period 2017-2021 .
According to the report , one of the major drivers for this market is increased demand for engineered solutions in power industry . The power industry operates in a rugged environment , which requires continuous and uninterrupted functioning of components such as turbines and fans that are driven by industrial gearbox and drives . We observe that the estimated operational life of a gearbox and drive used in the power industry usually does not extend beyond seven years due to high environmental stress and loading .
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Further , the report states that one of the major factors hindering the growth of this market is continued use of standard off-the-shelf gearbox and drives . Customized gearbox solutions are in demand due to several factors like nature of plant design , capacity , machinery functionality , and individual end-user requirements ; however , off-the-shelf gearbox and drives continue to dominate the market .
About Engineered Gearbox and Drives
Engineered gearbox and drives are customized / tailor made as per end-user requirements and specifications . They are either manufactured by modifying the components of standard off-the-shelf gearbox and drives or designed and built from scratch .
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Covered in this report
The report covers the present scenario and the growth prospects of the global engineered gearbox and drives market for 2017-2021 . To calculate the market size , the report considers the revenue generated from the sales of engineered gearbox and drives .
The market is divided into the following segments based on geography : Americas APAC