The European market for gearboxes and other speed changers in machinery and vehicles is led by Germany and Italy, capturing significant shares at 35.95% and 28.18%, respectively. Belgium stands next at 11.44%, followed by Spain at 7.94%, and Finland at 6.58%. These countries are pivotal players with Germany and Italy showcasing stability through modest growth rates of 1.78% and 3.37% in 2023. Spain and Finland reported notable expansions of 49.48% and 25.38% respectively, indicating burgeoning capabilities. In contrast, Denmark and the United Kingdom faced contraction at rates of -10.23% and -11.7% respectively.
Looking ahead, Europe’s gearbox market is poised for transformations driven by advancements in production technologies, a surge in demand for electric vehicles offering efficiency, and sustainability initiatives. Close monitoring is required for market shifts due to evolving geopolitical and economic circumstances across European countries, impacting production and demand dynamics differently across the region.
Top countries in Sold Production of Gearboxes and Other Speed Changers for Machinery and Land and Sea Vehicles Excluding Gears and Gearing Share by Country (Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 35.95 | 2023 | +1.61% | +1.78% | View data |
| 2 | 2 Italy | 28.18 | 2023 | +3.92% | +3.37% | View data |
| 3 | 3 Belgium | 11.44 | 2023 | +1.08% | +0.26% | View data |
| 4 | 4 Spain | 7.94 | 2023 | +19.73% | +49.48% | View data |
| 5 | 5 Finland | 6.58 | 2023 | +1.72% | +25.38% | View data |
| 6 | 6 Denmark | 5.69 | 2023 | +0.17% | -10.23% | View data |
| 7 | 7 France | 4.29 | 2023 | +1.53% | +0.65% | View data |
| 8 | 8 Netherlands | 0.99 | 2023 | +9.46% | +2.64% | View data |
| 9 | 9 Czechia | 0.89 | 2023 | |||
| 10 | 10 United Kingdom | 0.78 | 2023 | -13.84% | -11.7% | View data |
