Precision Gearbox Market Size, Share, Growth Potential and Forecast to 2024 | Emerson, Rexnord, Siemens, ABB Ltd, Bonfiglioli, Cone Drive Operations, Horsburgh & Scott

The global precision gearbox market is estimated to gain substantial momentum over the coming years, primarily on account of the growing demand for robotics paired with the escalating automation trend across several industries. According to the World Robotics Report 2018 published by the International Federation of Robotics, global sales of industrial robots had surpassed 387,000 units in 2017 breaking all previous sales records. This spike indicates a 31 percent increase up from 294,300 units sold in 2016.

China observed up to 58% demand for industrial robots, which is the highest across global markets. Meanwhile, sales grew by 6% in the US and by 8% in Germany. With the rising proliferation of the robotic technology, the demand for precision gearboxes for industrial robotic applications is projected to increase, thereby propelling the global precision gearbox industry growth.

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Another significant factor supporting precision gearbox market is the growing adoption of automation across several sectors including, packaging, material handling, medical, and food & beverage. Recently, for instance, Tata Global Beverages installed an automated packaging machine at its Tetley manufacturing plant in the UK by making a hefty investment. Automation is currently the most trending space in technology, which has helped companies significantly save up on employee time and costs.

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.

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.

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.

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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.

Table of Content:

Chapter 1. Methodology & Scope

1.1. Research Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Research scope and assumptions

1.2. Data Sources

1.2.1. Primary Sources

1.2.2. Secondary Sources

Chapter 2. Executive Summary

2.1. Precision gearbox industry 360? synopsis, 2012 - 2024

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Product trends

2.1.4. Application trends

Chapter 3. Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2012 - 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.3.2. Distribution channel analysis

3.4. Technology & innovation landscape

3.5. Regulatory landscape

3.5.1. U.S.

3.5.2. EU

3.5.3. China

3.6. Precision gearbox industry impact forces

3.6.1. Growth drivers

3.6.1.1. Rising automation demand across wide applications

3.6.1.2. Increasing use of precision gearboxes in robotics

3.6.2. Industry pitfalls & challenges

3.6.2.1. Growing adoption of direct drive mechanism

3.7. Growth potential analysis

3.8. Porter's analysis

3.9. Competitive landscape, 2015

3.9.1. Strategy dashboard

3.10. PESTEL analysis

Chapter 4. Precision Gearbox Market, By Product

4.1. Global precision gearbox market share by product, 2015 & 2024

Outer scope of this report some companies even claim that using automated packaging machines have accelerated their level of production while offering substantial results compared to manual processes. Therefore, the adoption of automation by industries will drive product demand for the manufacturing of industrial robots, augmenting precision gearbox market growth over the forthcoming years.

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Related Report:

United States Precision Gearbox Market Report 2017

In this report, the United States Precision Gearbox market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-precision-gearbox-market-report-2017?utm_source=RR-SP

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