Global Precision Gearbox Market Size is estimated to expand rapidly in coming years, at a CAGR of 8.5 % from 2019 to 2027. In 2017, the global market valuation was USD 1.6 billion, and it is anticipated to be greater than USD xx.xx billion by 2027. In the area of packaging, robotics and military applications, increased demand for material is expected to drive market growth. The market for precision gearboxes is expected to increase in the production facilities of automation in order to improve the energy efficiency, profitability and lower cost of labor.
Global Market Growth Opportunities (Revenue, Growth) By 2019-2027
Precision gearboxes have been designed especially for applications in which extreme accuracy and precision are essential. However, they are machined to high tolerances and deliver up to 90% or more high efficiency. These are also compacter and distinguished in contrast to traditional gearboxes by low noise levels. Therefore they are commonly used in robotics, machine tools, processing of goods, manufacturing and meat equipment.
Automation minimizes the required level of manual operation, growing performance levels and maintaining minimal human intervention. Increased emphasis on automating different production processes is likely to increase demand for reliable gearboxes over the forecast period. However, rising robotics are expected to grow across several industries.
The focus is on increasing the efficiency of their machines by machinery and equipment manuals in several applications industries, such as packaging, material handling and machine tools. We are also aiming to reduce the overall manufacturing costs, which are more reliable, scalable, efficient and repeatable. There is thus a growing demand for highly accurate, stable and working precision gearboxes.
This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global precision gearbox market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global precision gearbox market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.
By Product Insights: On the basis of product, global precision gearbox market has been segmented into parallel, right angle, planetary. The largest CAGR is anticipated in the parallel precision gearbox segment during the 2019-2026 forecast span. As the name suggests, these gear boxes have parallel input and output shafts. Parallel reliable gearboxes are easy to install and typically used in operation of material handling.
By Application Insights: On the basis of application, global precision gearbox market has been segmented into military & aerospace, food, beverage, & tobacco, machine tools, material handling, packaging, robotics, medical, others. Over the forecast period, the military and the aerospace industry would likely expand in the fastest CAGR. The growing demand for commercial aircraft in passenger travel will likely increase, which will, in turn, have a positive effect on the precise gearbox market.
In fact, increasing global uncertainties are expected to increase the defense budgets of several countries around the globe, including the United States, China, Russia and India. In addition, competition for military equipment and other related equipment is likely to be increased. The need for reliable gearboxes in the military and aerospace industries would likely fuel all these causes.
The precision gearbox market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. In 2018, the world market in Asia Pacific led with the largest percentage of revenues. There are a variety of emerging markets in the area, such as China and India. In contrast to the growing manufacturing industry, increased investment in technology would probably increase the demand for different equipment such as packing systems, material handling machines and machinery. This fuels the market for reliable gearboxes. As large projects are ongoing in countries like China, India, Australia, and Indonesia in Asia Pacific, the region has potential to bypass any competition. This is also because of the great amount of reserves that the region has. Exploration activities in China are increasing which is why China may have great demand for tin catalysts and compounds. According to the National Bureau of Statistics, precision gearbox market will increase the regional demand during the forecast period.
Global Precision Gearbox Market Size, Share Analysis by Region 2019-2027
Over the forecast period, North America would likely have a strong CAGR database. Regional development is guided by various factors, such as the existence of large aviation, food and food manufacturing and medical firms. However, large military and defense-related spending by countries like the United States stimulate growth. Further automated use is also anticipated to fuel demand for precision gearboxes over the forecast period in both the automotive and non-automotive industries.
Global Precision Gearbox Market Study Objective
To forecast the market size of precision gearbox market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.
Market analysis and forecast of precision gearbox market on the basis of region, substrate, and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.
To analyze and elaborate significant factors that will have a major impact on the growth of precision gearbox market, such as drivers, restraints, challenges, and opportunities.
The regional analysis of precision gearbox market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa, and the Asia Pacific.
Strategic analysis of micro markets, in terms of individual prospects, opportunities, growth trends and their involvement in the overall market.
To provide detailed analysis of competitive and strategic developments in the precision gearbox market like a new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.
Key Players Landscape
Bonfiglioli Riduttori S.p.A, WITTENSTEIN SE, Neugart GmbH, Siemens AG, ABB Ltd., and SEW-EURODRIVE GmbH & Co KG, Rexnord Corporation, Gudel Group AG, Dana Incorporated, and The Timken Company are some of the key players in the global market of precision gearbox. Industries are also pursuing approaches such as mergers and acquisitions, new product development, marketing and distribution networks and manufacturing plants in emerging markets.
Global Precision Gearbox Market Study Report Offer You!
The global precision gearbox market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.
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