How European Shipbuilding Activity Is Driving Growth in the Industrial Gear Market to $15.4 billion by 2035

Industrial gear market was valued at $10.1 billion in 2025 and is forecast to reach $15.4 billion by 2035, registering a CAGR of 4.3% during 2026–2035. Demand for industrial gears in marine applications is accelerating, driven by a rebound in shipbuilding activity within the European Union. According to the European Commission (EU), the European shipbuilding industry experienced a surge in 2023, with a total of 101 new orders placed in EU shipyards. This represents a 9% increase on the previous year, driven primarily by a surge in demand for dry cargo vessels, which accounted for 71 of the new orders, and cruise ships, for which 11 new orders were recorded. This growth is second to Chinese orders (+29% on a year-on-year basis). This rebound directly benefits the industrial gear market, as propulsion systems, reduction gearboxes, azimuth thrusters, winches, cranes, and auxiliary machinery rely heavily on precision gear assemblies. Each new vessel requires hundreds to thousands of gear-driven components.

Browse the full report description of “Industrial Gear Market Size, Share & Trends Analysis Report By Type (Spur Gears, Helical Gears, Worm Gears, Bevel Gears, Planetary Gears, Rack & Pinion, and Others) and by Application (Automotive, Construction & Mining, Energy & Power, Manufacturing Machinery, Marine, Agriculture, and Others), Forecast Period (2026-2035)” at https://www.omrglobal.com/industry-reports/industrial-gear-market

European Shipbuilding Trends Impact 

Recent Development

• In November 2025, RENK Group AG secured a major order to deliver twelve NDSL-3600 TwinIn/SingleOut gearboxes for six RoPax ferries, marking a key milestone in sustainable ship propulsion. The vessels, built for an international ferry operator and equipped with methanol dual-fuel engines, will set new standards in energy efficiency and passenger comfort.

Market Coverage

• The market number available for – 2025-2035
• Base year- 2025
• Forecast period- 2026-2035
• Segment Covered-
• Type
• End User

• Competitive Landscape – Bharat Gears Ltd., Dana Incorporated, Elecon Engineering Company Ltd., Regal Rexnord Corporation, among others.

Key questions addressed by the report.

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How are players addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Industrial Gear Market Report Segment

By Type

• Spur Gears
• Helical Gears
• Worm Gears
• Bevel Gears
• Planetary Gears
• Rack & Pinion
• Others

By End User

• Automotive
• Construction & Mining
• Energy & Power
• Manufacturing Machinery
• Marine
• Agriculture
• Others

Global Industrial Gear Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Russia
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Australia and New Zealand
• ASEAN Economies
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa

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