Mobile Geared Products Market Size, Share, and Growth Forecast for 2025 - 2032

Mobile Geared Products Market Size and Trends Analysis

The global mobile geared products market size is likely to be valued at US$ 11.5 Bn in 2025 and is estimated to reach US$ 19 Bn in 2032, at a CAGR of 7.5% during the forecast period for 2025 - 2032.

The global market is expanding steadily, driven by rising demand from construction, agriculture, and material handling sectors. Growth is supported by large-scale infrastructure investments, modernization of machinery, and increasing adoption of off-highway equipment in emerging markets. Initiatives like China’s Belt & Road and the U.S. IIJA are fueling demand for construction equipment that relies heavily on gear drives such as axle/wheel and track systems.

At the same time, the global transition toward electrified machinery driven by tightening emission norms is creating fresh opportunities for advanced gear solutions such as e-axles and integrated gearboxes. Companies such as ZF are responding with increased investment in electrified driveline technologies. Among product types, axle/wheel drives remain dominant due to widespread use in material handling, while slew drives are witnessing rapid growth owing to their role in renewable energy systems. Asia Pacific leads the market in volume, while the Middle East and Africa represent the fastest-growing regional segment.

Key Industry Highlights:

• Emissions regulations and hybrid/electric vehicle adoption are spurring demand for electric axles and integrated gearboxes, creating new business for advanced suppliers.
•  The China construction equipment market is facing stagnation due to economic uncertainty and regulatory tightening, posing a regional growth constraint.
• Asia Pacific accounts for 55% of global market share, but momentum is slowing, especially in China, prompting strategic shifts toward other regions.
• Independent suppliers like ZF, Dana, and Bonfiglioli lead the market, while hydraulic firms such as Bosch Rexroth and Kawasaki strengthen their presence through integrated offerings.
• Axle/wheel drives dominate the market, accounting for 66% of total revenues in 2024, thanks to widespread use in compact, mobile equipment.
• Environmental regulations (EU Stage V, EPA Tier 4) are pushing OEMs toward electrified vehicles, creating new opportunities for specialized geared products like integrated e-axles.
• Global infrastructure programs like China’s Belt & Road Initiative and the U.S. IIJA Act are accelerating demand for off-highway equipment, boosting geared product sales.

Global Market Attribute	Key Insights
Mobile Geared Products Market Size (2025E)	US$ 11.5 Bn
Market Value Forecast (2032F)	US$ 19 Bn
Projected Growth (CAGR 2025 to 2032)	7.5%
Historical Market Growth (CAGR 2019 to 2024)	6.8%

Market Dynamics

Driver - Convergence of Infrastructure Expansion and Electrification Trends Boosts Sales in the Mobile Geared Products Market

Sales in the Mobile Geared Products Market are being significantly boosted by the dual impact of expanding global infrastructure and the accelerating transition to electrified off-highway machinery. Large-scale infrastructure programs such as China’s Belt & Road Initiative and the U.S. IIJA funding are driving robust demand for construction, mining, and material-handling equipment, all of which depend on high-performance geared components. At the same time, government-supported mechanization efforts in sectors like agriculture are increasing the deployment of tractors, harvesters, and mobile industrial vehicles, directly fueling gear drive sales.

Additionally, the tightening of emissions regulations (e.g., EU Stage V, EPA Tier 4) is pushing OEMs toward hybrid and electric powertrains. This shift is creating new opportunities for gear manufacturers to supply advanced e-axles and integrated gearboxes tailored for electric drivetrains. Industry leaders like ZF are already investing heavily in electrified driveline technologies to meet these evolving needs. As a result, the convergence of infrastructure growth and regulatory-driven electrification is not only transforming the mobile equipment landscape but also accelerating the sales momentum of geared products across global markets.

Restraint - Weak Demand in China and Low-Volume Product Segments Constrain Market Growth

The mobile geared products market is restrained due to sluggish demand in China’s construction equipment sector and weak growth in niche gear drive segments. China significantly influences the Asia Pacific market is experiencing a sharp slowdown due to reduced infrastructure investment, stricter real estate regulations, and overall economic uncertainty. This has led to stagnant demand for key components such as track drives used in excavators. At the same time, specialized product types such as slew and winch drives used in cranes and lifting equipment are growing slowly and cater to limited applications with lower production volumes. This restricts economies of scale and makes these product lines less viable for major investment or technological upgrades. Together, these conditions are holding back broader market expansion, reducing sales opportunities, and discouraging manufacturers from scaling operations or pursuing aggressive innovation in these segments.

Opportunity - Rapid Growth in the Mobile Material Handling Segment

The mobile material handling sector presents a significant opportunity, with a projected revenue CAGR of 7.9% between 2024 and 2032, making it the fastest-growing application in the mobile geared products market. This surge is fueled by the rise in e-commerce, automation in warehousing, and industrial logistics expansion. Equipment such as lift trucks, reach trucks, and AGVs (automated guided vehicles) is being widely adopted across the manufacturing and logistics industries. These machines heavily rely on compact, high-efficiency geared drive units, especially axle/wheel drives. As warehouse automation continues to gain momentum globally, especially in North America and Europe, gear manufacturers that tailor their products for compact, electric handling vehicles stand to gain significantly.

Category Wise Analysis

Product Type Insights

By Product type, the market has been segmented into axle/wheel drives, track drives, slew drives, and winch drives. Among these, axle/wheel drives were the top-performing product group in 2024, accounting for 66% of total market revenues. This dominance is largely attributed to strong demand from the material handling sector, where axle/wheel drives are widely used due to their efficiency and adaptability. Track drives followed as the second-largest segment, contributing 20.1% of the market share, closely tied to the demand for excavators.

Slew drives are gaining significant traction across various industrial sectors due to their ability to provide reliable rotational motion and structural load support in compact, enclosed units. They are widely used in applications such as solar tracking systems, cranes, aerial work platforms, wind turbines, and construction equipment, anywhere that precise rotational movement and high torque transmission are critical. In the renewable energy sector, slew drives play a key role by enabling solar panels and wind turbines to track the sun and wind direction, thereby improving energy capture and operational efficiency.

According to the International Energy Agency (IEA), global renewable electricity generation is forecast to climb to over 17,000 terawatt-hours (TWh) by the end of this decade an increase of almost 90% from 2023. This would be enough to meet the combined power demand of China and the United States in 2030. This rapid growth in renewables is fueling demand for high-performance slew drives, especially in utility-scale solar farms and onshore wind installations, making them one of the fastest-growing product segments in the mobile geared products market.

Application Segment

By Application, the market has been segmented into construction equipment, mobile material handling equipment, agricultural equipment, off-highway OEM equipment, and others. In 2024, the construction equipment segment emerged as the leading application in the mobile geared products market, capturing over 42% of the total revenue share. This dominance is largely driven by the surging global demand for infrastructure development, particularly in urban centers. The global construction and mining equipment market is projected to grow from US$142.2 billion in 2024 to US$231.4 billion by 2031. Mobile geared components such as axle/wheel drives and track drives are integral to machinery like excavators, cranes, and tractors, which are essential for lifting, digging, and transportation operations across construction sites, especially in fast-developing regions like Asia Pacific.

Mobile material handling equipment represents the fastest-growing application segment in the mobile geared products market. This growth is being fueled by the rapid expansion of global logistics, warehousing, and e-commerce sectors. The increasing adoption of automated solutions such as forklifts, automated guided vehicles (AGVs), and smart conveyor systems each heavily reliant on precision geared drives is central to this trend.

According to the International Trade Administration, global B2C e-commerce revenues are forecasted to reach US$5.5 trillion by 2027, growing at a CAGR of 14.4%. Enhanced automation, robotics integration, and the shift toward electrified handling systems further reinforce the segment’s high growth trajectory.

Regional Insights

Asia Pacific Mobile Geared Products Market Trends

Asia Pacific remains the dominant region in the global mobile geared products market, holding over 55% of the total market share in 2025. The construction and mining equipment market in APAC exceeded US$60 billion in 2021 out of a global total of over US$150 billion. This dominance is driven by the widespread deployment of axle/wheel drives and track drives in heavy construction machinery such as excavators, road rollers, and backhoe loaders especially in high-volume markets such as China and India. Rapid urbanization, growing investment in smart city infrastructure, and the presence of a strong local manufacturing ecosystem have further entrenched the region’s leadership position. However, this momentum is starting to plateau, particularly due to a cooling construction vehicle segment in China, prompting OEMs to diversify their geographic focus to maintain growth and competitiveness.

The Middle East and Africa (MEA) Products Market Trends

The Middle East and Africa (EMEA) is poised to be the fast-growing market 2032, with an expected compound annual growth rate (CAGR) of 7.9%. According to the International Trade Administration, Saudi Arabia's construction market alone is expected to grow from USD 70.33 billion in 2024 to USD 91.36 billion by 2029, largely fueled by the Kingdom’s Vision 2030 infrastructure development plan. This surge in capital spending is translating into rising demand for construction machinery equipped with high-performance gear drives, including slew drives in cranes and winch drives in pipeline-laying machinery.

Furthermore, Africa's growing focus on mechanized agriculture and mining modernization is expanding the application base of mobile geared products. As APAC's pace slows, EMEA is emerging as a strategic growth frontier, encouraging global OEMs to scale local production and distribution networks to tap into this accelerating demand.

Competitive Landscape

The global mobile geared product market features a competitive landscape dominated by independent component suppliers, although Original Equipment Manufacturers (OEMs) also play a role. Independent suppliers constitute the majority of the market, with two primary categories: dedicated geared product manufacturers and mobile hydraulic companies.

Dedicated suppliers such as ZF, Dana, and Bonfiglioli specialize in core mobile drive components, including drive axles, wheel drives, slew drives, and gearboxes. These companies serve a wide range of mobile equipment sectors, including construction machinery, agricultural tractors, lift trucks, and cranes. Their strength lies in engineering expertise, product breadth, and robust aftermarket support, which positions them as key players across global regions.

Meanwhile, mobile hydraulic companies such as Bosch Rexroth and Kawasaki play a dual role. They are not only consumers of geared products but also manufacturers and supply them either as standalone units or as part of integrated hydraulic systems. This vertical integration allows them to offer complete drive solutions, enhancing value for OEM customers.

The market is increasingly competitive, with players investing in product integration, system efficiency, and technological innovation. Close OEM partnerships, system-level offerings, and global manufacturing capabilities remain key differentiators in sustaining market leadership.

Recent Developments

• In 2024, BRIST launched a corner drive e-axle for zero-emission LF buses (intercity included)
• IN 2020, Twice the steering power: ZF launches next generation AKC active rear axle steering system in volume production

Companies Covered in Mobile Geared Products Market

• Bonfiglioli Riduttori S.p.A.
• Bosch Rexroth AG
• Brevini Power Transmission (Dana Brevini)
• Carraro Group
• Comer Industries
• Dana Incorporated
• Kawasaki Precision Machinery
• Nabtesco Corporation
• Oerlikon Drive Systems (Graziano/Fairfield)
• ZF Friedrichshafen AG
• Other Market Players