South Korea Rolling Mill Gearboxes Market was valued at USD 0.2 Billion in 2022 and is projected to reach USD 0.4 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
The South Korea Rolling Mill Gearboxes market has become increasingly important as industries continue to demand more advanced and efficient technologies for their manufacturing processes. Rolling mill gearboxes are crucial components in the metalworking and steel industries, driving the functionality of rolling mills that produce a wide variety of products. These gearboxes provide mechanical power transmission, enabling rolling mills to operate at high speeds with precision and efficiency.
Industries in South Korea, known for their advanced infrastructure and technological capabilities, rely heavily on these gearboxes for the production of steel, aluminum, and other metal products. The demand for rolling mill gearboxes has surged as the country’s industrial base continues to expand. These gearboxes are required for use in both new installations and the replacement of outdated systems to meet the growing needs of the manufacturing sector. Gearboxes must withstand high loads, extreme temperatures, and continuous use, making them a vital part of rolling mills.
In South Korea, the automotive, construction, and energy sectors represent the primary industries relying on rolling mill gearboxes. For instance, the production of steel for automobile manufacturing requires precision in rolling processes, making reliable gearboxes essential. In construction, gearboxes are used to produce structural steel and other metal components needed for infrastructure development. The energy sector also demands high-quality gearboxes for producing materials used in power plants, wind turbines, and more.
The requirement for rolling mill gearboxes is also influenced by technological advancements. As industries adopt automated systems, the demand for more intelligent, high-performance gearboxes has grown. Manufacturers now seek gearboxes that can integrate with these systems, offering features such as predictive maintenance, energy efficiency, and reduced downtime. The development of these advanced gearboxes is driving innovation in the market and encouraging competition among manufacturers.
Given the heavy demands placed on these components, the South Korean market is seeing significant investments in research and development, focusing on producing gearboxes that can handle the complexities of modern manufacturing. This dynamic shift towards higher precision and greater durability is reshaping the rolling mill gearboxes market in South Korea.
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GMB Heavy Industries
KACHELMANN GETRIEBE
Wikov Group
AS Precision Machines
Dana Motion Systems
Kumera
SMT Machines
PP Rolling Mills
Xtek
Rico Machine Tools
Steefo Group
NER GROUP
TZCO
NGC
DHHI
Hanwei Machinery
Gear inc.
Jinxin Transmission Equipment
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Rolling Mill Gearboxes Market
Planetary Gearboxes
Helical Gearboxes
Worm Gearboxes
Bevel Gearboxes
Hot Rolling Mills
Cold Rolling Mills
Flat Rolling Mills
Shape Rolling Mills
Cast Iron
Steel
Aluminium
Composite Materials
Horizontal Gearboxes
Vertical Gearboxes
Small Gearboxes (
Medium Gearboxes (50 kW - 500 kW)
Large Gearboxes (>500 kW)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Rolling Mill Gearboxes Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Rolling Mill Gearboxes Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Rolling Mill Gearboxes Market, By Type
6. South Korea Rolling Mill Gearboxes Market, By Application
7. South Korea Rolling Mill Gearboxes Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Rolling Mill Gearboxes Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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