Precision Gearbox Market Forecast Showing 5.2% CAGR to 2024 | Analysis of Key Players Emerson, ABB Ltd, Bonfiglioli, Rexnord, Siemens, Cone Drive Operations, Horsburgh & Scott

Market Study Report adds Global Precision Gearbox market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.

Growing automation demand in machine tools, food & beverage processing and tobacco industry, materials handling and packaging applications will support the industry growth. The manufacturing industry is focused towards developing gearboxes of small size and lower weights, thus driving the precision gearbox market. Global Precision Gearbox Market size is set to exceed USD 2.5 billion by 2024; according to a new research report.

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Advancements in robotic systems will support precision gearbox market demand owing to its precise positioning. Moreover, increased focus towards reducing overall weight of the robot will increase the hard-plastic components demand used in the business. Customized precision gearboxes are gaining popularity to support the application-specific machine requirements. A variety of strong, compact, and cost-effective gear drives are manufactured to cope with complex designs.

Companies are focusing towards collaboration of human and robots, also known as collaborative robots for simplified applications. Commercialization of co-bots will further support the demand for precision gearbox market over the forecast period.

Regulations governing this industry mainly pertain to efficient operation and energy consumption. The U.S. has defined regulations regarding the use of precision gearbox in ANSI standard for robotic applications. Similarly, in Europe, the CE mark on products entitles them free circulation in European Economic boundary. Growing adoption of direct drive mechanisms will hamper the precision gearbox market over the forecast timeline. It eliminates gear usage in power transmission by taking power from input shaft without any reductions, thus improving the efficiency of the mechanism.

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Planetary segment accounted for more than 70% of 2015 overall industry revenue. These are niche rather than standard products which provide greater volatility in the precision gearbox industry. Parallel precision gearbox market size was over USD 200 million in 2015. The parallel gearboxes use shaft-mounted gear units on parallel axes which are ideal for use in conveyors and other material handling applications.

Ability to perform low speed cutting operations in range of different materials will increase the demand for these products in machine tool applications. The materials handling industry is influenced by rising transportation of goods and changing overall consumption patterns. Growing consumption of fast foods in smaller packages will drive demand across the packaging sector.

U.S. F&B and tobacco industry is focused towards competitive pricing along with sustainable production, packaging, and transportation solutions. This operational efficiency can be achieved by adopting automation solutions enabling manufacturers to develop high-quality products at lower costs. Rising automation needs in the U.S. will further support the market over the next eight years. Europe precision gearbox market share was responsible for over 30% of overall 2015 revenue and will grow significantly throughout the forecast timeline.

The industry participants focus on providing unique selling propositions by offering characteristics such as speed reducers with higher torque, high efficiency up to 96%-98% and maintenance-free construction. Some of the competitors are Brevini, SEW Eurodrive and Siemens.

Growth drivers
Rising automation demand across wide applications
Increasing use of precision gearboxes in robotics

Table of Content:

Chapter 1. Methodology & Scope

Chapter 2. Executive Summary

Chapter 3. Industry Insights

Chapter 4. Precision Gearbox Market, By Product

Chapter 5. Precision Gearbox Market, By Application

Chapter 6. Precision Gearbox Market, By Region

Chapter 7. Precision Gearbox Market Company Profiles

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Related Reports: -

North America Precision Gearbox Market Size By Product, By Sales Channel (OEM, Aftermarket) Industry Analysis Report, Regional Outlook (U.S., Canada,), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

North America precision gearboxes are expected to reach around 969 thousand units till 2024. Rising demand of automation across various industries including food & beverage, packaging, and material handling will support the industry growth over the next eight years.

https://www.marketstudyreport.com/reports/north-america-precision-gearbox-market/?utm_source=RR-SP

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