Trusted Business Insights presents the Updated and Latest Study on Precision Gearbox Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Precision Gearbox Market
Industry / Sector Trends
Precision Gearbox Market size was valued at USD 1.85 billion in 2015 and will grow at 5.2% CAGR from 2016 to 2024.
Germany Precision Gearbox Market size, by application, 2012-2024 (USD Million)
The global precision gearbox industry share is driven by technological advancements to improve energy efficiency. Speed reducers with higher torque, maintenance-free construction, smooth running, compact design, high load capacity and lower costs are some of the characteristics of these products which manufacturers are providing as their unique selling propositions. Emerging applications such as robotics will create demand for highly precise movements fulfilled by these products. Rising automation requirements in the manufacturing sector will drive the precision gearbox market size for use in assembly lines, controlling conveyor belts, bottling, packaging, and precise positioning of products.
The presence of substitutes such as direct drive systems may hamper the global market share. These products eliminate the use of gears, thus reducing the weight and complexity, and increasing the efficiency as there is no energy loss. The shift from using coil-driven to permanent magnet driven products has reduced the overall costs of the direct drive systems. Simulation of direct drives through software leads to more accurate power conversion as investments are saved in simulation processes.
Market Segmentation, Outlook & Regional Insights: Precision Gearbox Market
Precision Gearbox Market, By Product
Planetary precision gearbox market share accounted for over 70% of the revenue in 2015. These products are more niche than standard gears. Right angle gearboxes are gaining popularity for angular arrangement between the drive and the output shaft. These products offer great flexibility when the construction space in a particular application is limited and thus will offer potential growth opportunities for newer manufacturing bases or upgrading of existing facilities.
Increasing innovations in miniature gears had enabled companies to manufacture small, highly precise and light-weight aluminum housing gears. These are used in low backlash and high transmission accuracy requirements. High demand in processes such as transporting products on conveyor belts, precise turning, positing, fluid injection, variable acceleration in packaging and bottling plants will drive the industry share from 2016 to 2024.
Precision Gearbox Market, By Application
Robotic precision gearbox market size will grow with 6.5% CAGR estimation from 2016 to 2024. This can be credited to increased demand in prosthetic limbs and joints for balancing and achieving precise movements in service and industrial robotics applications.
The automated material handling sector will witness steady growth owing to rising developments in newly installed equipment. Growing production facilities, extension of plants and construction of new warehouses will support the demand for material handling equipment. Food, beverage & tobacco applications were valued at over USD 170 million in 2015. Rising automation demand and operational efficient machineries will offer potential growth opportunity to the industry over the forecast timeline.
Precision Gearbox Market, By Region
U.S. precision gearbox market share accounted for over 80% of the North American revenue in 2015. Rising manufacturing base with increased focus towards minimum operational costs & increased accuracy will support the demand over the forecast timeframe. Several countries have adopted their national regulations with international recommendations (IEC 60034-1), resulting in temperature classes, coolant temperatures, and temperature rise limits of the gearboxes under permissible values in any region.
China market was valued at USD 270 million in 2015, the regional industry will witness high growth in the coming years. Chinas global manufacturing share was about 25% in June 2016, 7% more as compared to 2000. The country is encouraging companies to automate and make higher-value products, to cope with labor cost problems. Beijing has targeted 7% manufacturing annual growth and 15% increase in corporate investment of to support industrial upgrades between 2016 and 2018.
Key Players, Recent Developments & Sector Viewpoints: Precision Gearbox Market
Existence of strong players such as Brevini, SEW Eurodrive, and Siemens with established brand identity and strong control over the business will pose as a challenge for new entrants. High R&D costs for ensuring more accuracy and achieving compact design acts as a barrier for market entry aspirants. The industry is highly fragmented as local manufacturers capture considerable share in many regions by providing cost advantages to customers against established companies.
Growing requirements for tailored versions of standard gear offerings will increase precision gearbox market size over the forecast timeframe. 3D modelling has enabled producers to design and manufacture small quantities of custom products at low costs. Energy-efficiency classifications for electric motors have led to improved cost savings and reduced consumption. The new directives in European Union referred to as EU Minimum Energy Performance Standard (MEPS) effective from January 2015 will improve energy efficiency of electric motors by 20-30%.
Precision Gearbox Industry Viewpoint
Precision gearboxes are machined to high tolerances offering efficiencies of 90% and above. They are used to reduce speed, resulting in high torque multiplication. Designers choose precision gears over large servo drives and motors as they have smaller components and save cost and space. For applications that can withstand reduced speed, relatively small gearboxes can supply high torque.
They use a variety of power transmission methods such as parallel, right angle and planetary combinations. Automation in the manufacturing sector has contributed considerably to the global competitiveness and provides high potential by ensuring value creation over high labor costs as per international standards
What are the Key Insights Covered: Exhaustive Precision Gearbox Market
1. Market size (sales, revenue and growth rate) of Precision Gearbox industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Precision Gearbox industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Precision Gearbox industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Precision Gearbox industry.
What is the Research Methodology used: Precision Gearbox Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Precision Gearbox Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine