Industrial Gears Market to Offer Revenue Opportunity Worth Over US$ 332.0 Billion By 2033 | Astute Analytica [Yahoo! Finance]
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Source: Yahoo! Finance
Embracing cutting-edge technologies like 3D printing and smart systems, the industry is poised for enhanced efficiency and sustainable development. New Delhi, Dec. 30, 2024 (GLOBE NEWSWIRE) -- The global industrial gears market was valued at US$ 229.3 billion in 2024 and is projected to reach US$ 332.0 billion by 2033, registering a CAGR of 4.2% over the forecast period 2025–2033. The industrial gears market in 2023 is witnessing a robust demand driven by the expansion of key sectors like automotive, aerospace, and renewable energy. The aerospace industry is also contributing significantly, with a forecasted requirement for 10,000 new aircraft by 2030, necessitating advanced gear solutions. In the renewable energy sector, especially wind power, the demand for high-performance gears is anticipated to increase substantially as global wind energy capacity is set to surpass 1,000 gigawatts by 2025, driving the need for durable and efficient gear systems. Download Sample Copy @ https
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