According to a recent report, the Industrial Gearbox market size is projected to reach $12.8 billion by 2030, growing at a CAGR of 4.38 percent until 2030. One of the major factors driving the growth of the industrial gearbox market includes the increasing adoption of industrial automation. A major trend gaining immense popularity in the industrial gearbox market is product innovation and hence a myriad of companies today are developing innovative products to strengthen their position in the market.
In this process, these manufacturers not only adjust their technologies and production processes to stay in sync with current industry trends, such as integrating intelligent and IoT-enabled gear systems for real-time monitoring and predictive maintenance to enhance operational reliability, but they also respond to the growing emphasis on sustainable and energy-efficient gear solutions to meet the rising demand for environmentally conscious practices. However, despite these advancements, clients in this market encounter a host of challenges, including the delicate task of customizing gears to meet specific application requirements without compromising performance and cost.
The industry's landscape is highly dynamic, marked by ever-evolving regulatory standards, stringent quality demands, shorter lead times, and the complexities of global supply chain disruptions and fluctuating raw material costs, all of which compound the challenges faced by clients. In this demanding environment, Elecon Engineering emerges as a prominent problem solver, pioneering the manufacturing of industrial gearboxes, material handling equipment, mining equipment, and casting processes, offering valuable solutions to address these industry-specific hurdles. Elecon Engineering is not only the pioneer in the manufacturing of Industrial gearboxes but is also one of the largest manufacturers of Industrial gears in Asia.
Extensive Global Presence
Founded in 1951, Elecon Engineering Company rapidly established itself as a major global player in the gearbox market. Despite challenging century-old competitors, the firm boasts an extensive worldwide network of offices and assembly centers, stretching from Oceania to Chicago and San Francisco. What distinguishes Elecon is its emerging status, aggressively expanding its presence on all continents. This comprehensive global reach bodes well for Elecon's significant growth prospects. Despite the firm’s late entry into the international market, the firm's progress remains unhindered, cementing its position as a rising star in the gearbox industry.
Cutting-edge Solutions, Global Partnerships & State-of-the-art Technology
Elecon Engineering has established a broad network of dealers, stockists, and corporate representatives. This expanded network enhances its outreach and facilitates the delivery of top-notch products and services to a wide-ranging customer base. The company's unwavering commitment to innovation, collaboration, and technological progress, and its ongoing focus on research and development set it apart as a pioneering force in introducing cutting-edge solutions to the market, further bolstered by global partnerships and state-of-the-art technology.
“Our vision is anchored in a commitment to establish a global footprint in power transmission, achieved through innovation, unwavering customer satisfaction, entrepreneurial creativity, collaborative teamwork, continuous improvement, environmental responsibility, and optimizing returns for stakeholders”, says Sudipta Ghosh, Vice President.
When it comes to the company's mission, Elecon aims to broaden its footprint in established and emerging global markets by investing in continuous research and development, empowering its workforce, advocating for environmental sustainability, and actively participating in societal betterment and the welfare of its employees. "We have a remarkable history of growth and innovation like becoming a Private Limited Company in 1960 and establishing a Gear Division in 1976”, adds Venkatesan Muthusamy, Sr. Vice President of Business Development.
Exceptional Quality & Timely Product Delivery within a Shorter Lead Time
The company provides an extensive range of services, marked by unique value propositions that distinguish them within the industry. The firm’s product lineup prominently showcases Standard Helical and Bevel Helical Gearboxes, showcasing remarkable manufacturing capabilities of up to 1000 standard gearboxes each month. What truly sets the firm apart is its remarkably short lead time, enabling customers to acquire gearboxes even during the last-minute stages of project planning, which is a rare advantage in the domestic market.
Notably, Elecon Engineering has made substantial progress in expanding its manufacturing capacity and ensuring punctual deliveries through the establishment of a cutting-edge manufacturing facility known as the Bhanubhai Memorial Centre of Excellence (BMCE). This state-of-the-art facility is designed to double gearbox production capacity, with a primary focus on maintaining exceptional quality and timely product delivery within shorter lead time. “Our commitment to quality is unwavering, as all gearboxes are crafted using CNC machines and undergo rigorous testing, ensuring top-notch quality and on-time delivery, as validated by third-party inspections. We prioritize quality materials through meticulous testing within NABL-accredited laboratories”, says Sudipta Ghosh. The company's commitment to innovation, teamwork, cutting-edge product development, and continuous research firmly establishes it as a pioneer in the industry. This position is reinforced by its global partnerships and technological advancements.
With a vast workshop spanning 1,17,051 square meters, equipped with the latest machinery and advanced quality control systems, Elecon Engineering sets a benchmark for quality and technological advancement within the industry. “We place a strong emphasis on maintaining top-quality standards, having achieved ISO 9001 certification in 1994 and additional certifications in 2018, including IMS ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018. These certifications guarantee that we adhere to stringent quality and regulatory requirements. The integration of IMS standards ensures the identification of current and future customer needs, continual assessment of client satisfaction, and process improvement”, speaks Venkateshan.
Elecon Engineering is an industry leader in providing comprehensive solutions for mechanical power transmission & gearbox manufacturing, exemplifying innovation, precision, & unwavering quality
Team of Robust & Highly Skilled Experts
Elecon Engineering Company boasts a robust and highly skilled team structure, a source of pride both within India and on the global platform. In India, the company's presence extends across 11 branches, with each team comprising seasoned managers, dedicated sales experts, and proficient service personnel. Notably, the longevity of team members is a distinguishing feature, with individuals serving for extended periods, ranging from 18 to 25 years. This deep-rooted expertise equips them with an intricate knowledge of the market, strong client relationships, and a profound understanding of Elecon Engineering's business culture.
“We have seasoned team members that serve as instrumental intermediaries, fostering seamless communication between customers and the factory, significantly enhancing the effectiveness of its marketing activities. Furthermore, each branch is equipped with sales and service teams to provide robust after-sales support”, says Prayasvin Patel, CMD. Elecon Engineering maintains a strong international presence on a global level, with an extensive network of offices, resident representatives, and distribution partners across regions including Australia, Singapore, Dubai, the UK, Europe, the USA, and South America. This illustrates the company's dedication to meeting the needs of a diverse global customer base.
Elecon's Ambitious Growth & Diversification Strategy
The company is embarking on an ambitious path for the future, marked by recent substantial growth. Within just two years, the company's gear division has achieved a remarkable top and bottom line. This forward-looking strategy involves not only expanding export activities but also intentionally diversifying the product portfolio. A significant focus is on entering the high-speed gearbox segment, where Elecon Engineering has already developed prototypes and is currently awaiting the necessary approvals.
In addition, the company is strategically venturing into the marine gearbox sector and actively engaging in the development of specialized couplings tailored for various industries, with a specific emphasis on applications in the cement sector, particularly in roller press applications. Furthermore, Elecon Engineering is diligently extending its global network, with a strong emphasis on exports. This impressive trajectory of growth is characterized by a resolute commitment to augmenting overseas business, confirming promising prospects on the horizon, and emphasizing a positive business outlook.