MAGNETIC GEARBOXES MARKET REPORT OVERVIEW

The global Magnetic Gearboxes Market Size was USD 117.65 million in 2024 and the market is projected to touch USD 238.17 million by 2031, exhibiting a CAGR of 10.60% during the forecast period.

A gearbox is a mechanical tool, a set of gears and their casing. Through different ratios of gears, the power is transferred from the engine to the wheels. It is a contactless device used for conversion of torque and speed. This type of gearbox does not need lubrication still it can protect structures and mechanisms against overloads.

This type of gearbox adjusts their mechanical properties such as rigidity and damping. The advantages of such gearbox includes less level of noise, requires less maintenance, and higher efficiency. The magnetic gears have numerous advantages and its dependable manner of functioning with respect to the conventional gearbox and attract numbers of consumers and have the capability to grow further.

COVID-19 Impact: Market Growth Hindered by Pandemic due to Restricted Transportation System

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

During COVID-19 pandemic, due to the lockdown and shutdown several industries have suffered a tough time. This market had also faced a downfall due to the supply chain operation and the availability of materials. The transportation system stuck globally has affected the manufacturing units. Due to the pandemic many industries were limited in their operations and functioning. However, post-pandemic, the demand increased for gearboxes because every industry recovers from the stress and accelerates functioning properly.

"Leveraging Magnetic Gear Technology Impelling the Market Growth"

The recent trend in the market of gearboxes is utilizing the magnetic gear technology. This technology helps produce numbers of innovative equipment such as fixed-ration magnetic gear, magnetic generators, magnetic-geared motors and various transmission variables. This technology uses the rare earth magnets to transmit power and to connect the shafts.

MAGNETIC GEARBOXES MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Linear Magnetic Gear, Coaxial Magnetic Gear, & Other

• Linear Magnetic Gear: A linear magnetic gear transmits power between linearly moving components through magnetic forces. It has higher efficiency, reliability and dense force when coupled with a linear permanent magnet.
• Coaxial Magnetic Gear: A coaxial magnetic gear is a combination of spoke structure and double-layer permanent magnets. In the tidal power generation system, it is used in place of a mechanical gearbox.
• Other: The other type of gear is axial magnetic gear. It works on the same principle of coaxial magnetic gear. However, the magnetic flux lines are parallel to the rotor axis.

By Application

Based on application the market can be categorized into Industrial, Marine, Aerospace, & Other

• Industrial: In the industrial application type, the gearboxes are used in electrical tools, in automotive power transmissions, in surgical instruments and other.
• Marine: The gearbox is used in the marine industry to step up the slow input force in ocean wave power. In marine propulsion, it steps down the high input RPM to low RPM of an engine.
• Aerospace: In the aerospace industries, the gearbox is used in different parts of aircraft such as engine, control system, landing gears, and doors.
• Other: There are many other areas where the gearbox is used such as the energy sector, wind turbines, robotics, and military.

"Increasing Demand by Various Industries to Drive the Market Advancement"

It is one of the key driving factors for the Magnetic Gearboxes Market Growth due to increasing demand for magnetic gear systems by various industries. The increasing demand for energy efficient and high performance by the customers propels market growth. Many industries such as automotive, robotic, aerospace, military, and others are changing their preferences from mechanical gear to magnetic gear systems. This type of gear reduces the operational cost because it eliminates maintenance cost.

"Implementation of Renewable Energy Sources to Expand the Market"

The implementation of renewable energy sources worldwide encourages companies to produce innovative gears. These magnetic gears are widely used in wind turbines to increase the demand for gears. This eliminates the maintenance cost and enables the production of renewable energy. To reduce carbon footprint and mitigate climate change, many industries and governments are investing in generating electrical energy from wind and wave accelerates the market growth.

"Expensive in Comparison to Conventional Gearbox Hinders the Market Growth"

The major factor that restrains market growth is the expensiveness of the equipment. The incorporation of magnetic material into the conventional gearbox has turned out to be a very expensive production cost. They cannot be used for every type of application because of the temperature-sensitiveness. For accurate working, it needs cooling systems which maintain the temperature of the device.

MAGNETIC GEARBOXES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Asia Pacific Dominates the Market due to Presence of Several Manufacturers"

The Asia Pacific region is dominating the Magnetic Gearboxes Market Share due to the presence of many manufacturers in this region. From outside the regions, many companies are shifting their plant in Asia Pacific and increasing the market share. China and Japan are major contributors in the industry of gearbox and have a large share of the market. The growing infrastructure in developing countries such as India and China is also increasing their market growth.

"Key Players Transforming the ""Magnetic Gearbox ""Landscape through Advanced Technologies and Strategy Partnership"

Many prominent industry players are operating in this market focused on advanced technologies to make dependable functioning gearboxes. However, there are many companies in the market that use some techniques such as merger, acquisitions, partnership and using new advanced technologies for producing and developing new products and stay ahead in the market.

• Magnomatics (U.K.)
• Georgii Kobold (Germany)
• MAG SOAR (Spain)
• AMT (U.S.)

August 2022: Chong Hong and his Colleagues from Germany in the Max Planck Institute for Intelligent System have produced a tiny gearbox driven by an external magnetic field. This gearbox enables a soft robot that crawls like a caterpillar and jumps approximately 40 times high with respect to its own height.

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global magnetic gearboxes market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.