Press release
Gear Demand Market: Automotive Industry to Generate Significant Revenues Through 2026
Fact.MR
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As the need for increasing and decreasing the speed of vehicles continues to remain high, manufacturers in the automotive industry are incorporating effective gears. With changing preferences and spending patterns of the customers, manufacturers are focusing on integrating technologically advanced features in gears. Customers prefer spending on automotive that are equipped with innovative technological solutions that also enable the end users to adjust direction of rotation of the rear wheels. Leading manufacturers are focusing on incorporating cutting-edge gear technology in the automotive to offer improved customer experience.
Besides automotive industry, demand for gear is concentrated towards industrial application. As the need to meet manufacturing targets remains high, manufacturers are increasingly integrating gears in range of machineries used for production purposes. In order to speed up the production process, leading companies are offering gear tools that enable manufacturers to complete short-term manufacturing tasks conveniently. In addition, growing need for manufacturing components for aerospace, construction, and mining industry has led to surge in adoption of gear technology in various industries.
More Than US$ 300,000 Mn Opportunity in Global Gear Demand Market
According to Fact.MR, the global gear demand market is expected to reach a value of over US$ 300,000 Mn by the end of 2026. Installation of the automated machines enables the end users to manufacture components of automotive and machines conveniently. As the need to transmit power to the automated machines persists, leading manufacturers are increasingly incorporating innovative features such as advanced monitoring and protection functions, and self-monitoring attributed.
In order to improve the experience of customers, the leading manufacturers are further focusing on developing technologically advanced gear boxes and gear motors. Integration of the gear boxes and motors allows the industries to meet their targets in a cost-effective manner. With rapid advancements in technology, manufacturers are also incorporating smart features such as 6-speed dual clutch transmission. Integration of smart technology enables the end users to shift gears automatically, manually or with the steering wheel paddles. Through integration of such advanced technological solutions, manufacturers are increasingly focusing on product innovation and differentiation to gain a competitive edge over the other market players.
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Growing need for changing the direction of shaft has led to surge in demand for bevel gears globally. In terms of revenue, bevel gear is expected to witness the highest growth in the global market by the end of 2026. However, helical gear will continue to witness the fastest growth in the global market throughout 2026. Demand for gears is expected to remain concentrated towards automotive industry by the end of 2017. On the other hand, sales of gear is expected to witness fastest growth in the process industry through 2026. In order to offer high-quality gear products, manufacturers are focusing on opting for metallic materials for gear products in the global market by the end of 2026. However, sales of non-metallic materials is expected to witness the fastest growth in the global market through 2026.
Major players operating in the global market include XINAPSE SYSTEMS LIMITED, AISIN SEIKI Co., Ltd, American Axle & Manufacturing, Inc., Robert Bosch GMBH, Dana Holding Corporation, Eaton Corporation Plc, Fiat Chrysler Automobiles N.V.,General Motors Company, Hyundai Motor Company, Magna International Inc., Siemens AG, Sumitomo Heavy Industries, Ltd., Toyota Motor Corporation, Valeo SA and ZF Friedrichshafen AG.
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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Retail & Consumer Goods Market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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