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Gear Measuring Machines Market Size Is Projected To Expand At A CAGR Of Around 3% From 2021 To 2031

01-13-2022 09:16 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

The gear measuring machines market size is projected to expand at a CAGR of around 3% from 2021 to 2031. Gear measuring machines are used for gear feature data collection of various types of gears such as spur gears, bevel gears, helical gears, internal as well as external gears, etc. Various features include the inspection and measurement of teeth profile, pitch circle diameter, module, and surface roughness.

Automotive, transportation, aviation, agriculture, and mining are only a handful of the sectors that use gear measurement machines. These industries necessitate complicated gears and gear assemblies for smooth operation, thereby increasing gear measurement machine demand.

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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Gear Measuring Machines market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Gear Measuring Machines

This newly published and insightful report sheds light on Market Insights of Gear Measuring Machines, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Gear Measuring Machines Market.

Growing focus on precision measuring and automation has led to the introduction of multi-sensor technology, advanced optical profilers and efficient software with easier UI in the recent past. Leading players are focusing on R&D investment to maintain their stronghold in a fragmented marketplace. However, capital-intensive nature and high maintenance cost of the gear measuring machines continue to limit new sales.

Highlighting the key demand drivers, the study opines that buoyancy in the automotive industry will remain crucial to the overall growth of the gear measuring machines market. The Fact.MR study projects that demand for gear measuring machines from the automotive industry will account for $177 million worth of revenues by 2028.

What are the factors influencing demand for gear measuring machines?
Discovery of new and improved ways of producing goods is referred to as technological advancement. Technological changes result in higher labor and capital productivity. Mainly due to urbanization and rising global economy, the market is undergoing a shift towards more complicated and expensive machines.

Developing technology has led to the launch of several products in the market that contain intricate designs, leading to a requirement of added gearing inside. From construction gear measuring machines to the aviation and the shipbuilding industry, all the machinery requires complex gears and gear assemblies for smooth functioning, consequently raising the requirement for gear measuring machines in the market.

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Key Segments of the Gear Measuring Machines Market
Fact.MR’s study on the gear measuring machines market offers information divided into three key segments-maximum workpiece diameter, sales channel, application, and region. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Maximum Workpiece Diameter5
1500 mm

Sales Channel
Direct Sales
Online Sales

Application
Agriculture
Automotive
Aviation
Metal & Mining
Wind Power Generation
Others

Region
North America
Latin America
Europe
CIS & Russia
Japan
APEJ
Middle East & Africa (MEA)

Gear measuring machines market sales grew at a modest rate in the period 2013-2018, and the modest growth is likely to continue during 2018-2028, according to a latest study by Fact.MR. Volume growth is likely to hover around 2.5% CAGR through 2028 equaling a market value in excess of US$ 500 Mn. The study finds that despite the fragmented nature of the market, top five players continue to collectively account for a revenue share of over 35%.

The metal and mining industry follows the automotive industry in generating the second largest demand for gear measuring machines while accounting for almost one-fifth of the total volume growth in 2018. Steady growth in the mining industry against the backdrop of advanced technology continues to seek heavy duty and durable gears in mining equipment. In addition, as gearbox forms the basis of agricultural machinery and wind turbines, demand for gear remains significant in these sectors. The wind power generation sector is actively exploring magnetic gears to achieve low maintenance, reduced acoustic noise and increased reliability for extensive and durable applications.

Full Access of this Exclusive Report is Available at- https://www.factmr.com/checkout/2062

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