Multi-commodity cold storages to gradually gain volume share

FY20E FY25P.
Others, 2% Others, 2%

  

Note: Multipurpose cold storages are where potatoes, fruits and vegetables, meat, fish, etc, can be stored at the same time.
Source: Industry, CRISIL Research

Key Players

Key players include Nilkamal BITO Storage Systems Pvt Ltd (NBSL), Godrej and Boyce Manufacturing
Company Ltd., Maximaa Systems Ltd., Mangal Industries Limited, and Armes Maini Storage Systems Pvt Ltd.

REVIEW AND OUTLOOK: DOMESTIC GEAR AND GEARBOX MARKET IN THE NON-
AUTOMOTIVE INDUSTRY

Introduction to gears and gearboxes

A gear set or gear pair is a mechanical device, commonly utilised to increase the output torque or change the speed
(measured as revolutions per minute or rpm) of a prime mover. A gearbox is an assembly of several such gear
pairs, counter shaft, main shaft and bearings enclosed in a metal housing. A geared motor is an assembly of a
gearbox and an electric motor.

A gearbox is attached with a prime mover on one end and equipment to be driven on the other end. Prime movers
are generally electric motors. Rotational speed as well as torque output of gearbox is a function of gear ratio. Gear
ratio is defined as the correlation between the numbers of teeth of two different gears forming a gear pair.

High output torque can be achieved with a design that has a higher gear ratio and vice versa. A high output speed
can be achieved with a design with a lower gear ratio and vice versa. Therefore, both torque and speed are inversely
proportional to each other.

Gears are manufactured typically through a three-stage process: hobbing, hardening and grinding. Hobbing is a
machining process for gear cutting, and cutting splines and sprockets on a hobbing machine. Hardening can be
either through hardening or surface/ case hardening. In case of hardening, the surface of the gear is harder than
the core. Hardening is done to increase wear resistance and durability of rotating parts. Grinding is a finishing
process to remove the distortion of tooth surface, after the heat treatment operation to obtain a predetermined
quality of the gear. Gear grinding is done to meet the exact requirements of form, dimension and surface texture.
This gives a very high degree of dimensional accuracy. Case hardened and profile ground gears, in particular,
have the ability to deliver higher torque and efficiency.

Domestic industrial gear and gearbox market

Demand was lackluster up to fiscal 2018; to accelerate up to fiscal 2022

CRISIL Research estimates the domestic market for industrial gears and gearboxes to have clocked a compound
annual growth rate (CAGR) of 4-5% from ~Rs 39 billion in fiscal 2015 to reach ~Rs 50 billion in 2020. CRISIL

Research forecasts the domestic industrial gear and gearboxes market to record 5-6% CAGR over fiscals 2020-
2024 to reach Rs 62-64 billion in fiscal 2024.

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