recision Gearbox Market Research Analysis of Anaheim Automation, Inc, GAM, APEX Dynamics, and Onvio LLC

North America Precision Gearbox market report provides 2024 forecasts built using statistical analysis while covering data from primary research as well as secondary sources that help gain market insights and provide industry growth expectations.

North America Precision Gearbox Market size is estimated to surpass USD 556 million by 2024; U.S. is expected to capture approximately 90% of the North America precision gearbox market over the forecast timeline. Rising standards of living will stimulate demand for vehicles and other precision gear containing products resulting in escalating sales for both OEM and aftermarket. Well defined stringent regulations in the country for the usage of precision gearboxes will foster the industry demand.

Report Mainly focuses on the top Manufacturers in global market are given bellow

Nuegart Gmbh, Bonfiglioli Riduttori SPA, WITTENSTEIN SE, and CGI, Inc., are among the prominent players in the industry. Other notable players include Anaheim Automation, Inc, GAM, APEX Dynamics, and Onvio LLC.

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The North America Precision Gearbox Market Report gives a clear picture of the current situation of the market which covers global industry analysis, size, share, growth, trends, key statistics and forecast Till 2024. The report on global North America Precision Gearbox market evaluates the growth trends of the industry through historical study and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2017-2024. The market size in terms of revenue (USD MN) is calculated for the study period along with the details of the factors affecting the market growth (drivers and restraints).

By Product

Parallel
Right Angle
Planetary

By Material

Carbon Steel
Aluminium
Bronze
Brass
Cast Iron
Plastic

By Application

Automotive
Healthcare
Material Handling
Agriculture & Construction
Food
Stage
E-mobility
Gears/Motors,
Façade Technology
Pump System
Pool Technique

By Sales Channel

OEM
Aftermarket

Customized gear motors and sets are the emerging technologies that are gaining prominence in the industry. They are used to support machines and for application-specific requirements. To cope up with complex designs, a variety of stronger, smaller, and cost-effective gear drives are manufactured. Modular designs with verified gear setups and acceptable price-to-performance ratio leverage the benefits of standardization.

For upgrading the automation of existing facilities, manufacturers provide a wide combination range of gears, their configuration types, and reduction ratios. For small quantity gearboxes, 3D modeling assists in designing models, which can be taken into machine tools for post-processing work.

Planetary gearboxes are anticipated to account for approximately USD 480 million over the forecast timeframe. Products designed for long service range and accurate shaft alignment are highly preferred by industry players suitable for the alignment of the applications. Better heat dissipation along with high-efficiency arrangement will boost the product penetration till 2024. Parallel gearbox will grow at 4% CAGR owing to their compact design and less space consumption.

North America precision gearbox market from cast iron is expected to dominate the industry with over 50% revenue share. Extensive usage of the material in construction of outer body of gearbox will contribute towards high revenue generation over the next eight years. The product is used for improved lubrication and high technological advancements in the manufacturing techniques. Moreover, lesser weight as compared to its counterparts is another factor responsible for the industry dominance over the forecast timeframe.

Automotive application is anticipated to generate over 333 thousand units of precision gearboxes and will account for over 33% revenue share over the coming years. It can be attributed to high usage of gearboxes in application requiring superior torque along with speed reduction. Shifting consumer preference towards the products with enhanced comfort and simplified operations will induce immense potential to the North America precision gearbox market size till 2024. 

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North America precision gearbox market players are adopting aggressive strategies such as new product launches and geographic expansion to strengthen their foothold in the industry. For instance, in April 2015, WITTENSTEIN redesigned its gearboxes for delivering high performance in all technical disciplines. In August 2016, GAM expanded its U.S. manufacturing operations and introduced a quick delivery program for couplings and gearboxes.

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