North America Precision Gearbox Market Technological Advancement And Growth Analysis With Forecast To 2024
Category: #headlines  By Ronak Bora  Date: 2021-09-07
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North America Precision Gearbox Market Technological Advancement And Growth Analysis With Forecast To 2024

North America precision gearbox market likely to witness almost 90% of the demand from the U.S. by 2024. Such massive demand can be attributed to the presence of a well-established automobile industry in the country. Alongside, burgeoning demand for new luxury vehicles, stemming from improved living standard has led to the prolific expansion of the automotive industry, thereby fueling industry trends in the country. In addition, demand induced by aftermarket and OEM channels is also fostering sales of the product.

Mounting automation demand from various industry verticals, including food & beverage, packaging, material handling, manufacturing, and other industries is likely to drive North America precision gearbox market growth over the coming years.

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Manufacturing industries are rapidly adopting automation systems to save labor costs and enhance efficiency, which may boost the demand for precision gearboxes. By 2024, North America precision gearbox market size is forecast to cross 968 thousand units.

Besides, stringent regulations enacted by ANSI (American National Standards Institute) to facilitate the development of technology standards in the United States is also driving product penetration. Such directives pertaining to the usage of better-quality gearboxes in end use cases, especially in robotics applications are forecast to boost adoption of gearboxes in the region.

Also, rise in transportation, production and packaging solutions along with expansion of food industry in the country may offer expansive growth scope for North America precision gearbox market.

Advanced technologies, such as 3D modelling are progressively being used for designing gearbox models that are manufactured in small quantities. Moreover, provisioning of distinct combination of gears along with varying range of reduction ratios and configuration types by the manufacturers in the industry may change North America precision gearbox market trends over the analysis period.

Planetary gearboxes are highly preferred as these products are specifically designed for accurate shaft alignment and long service range, which makes them suitable for alignment applications. They also improve heat dissipation and facilitate efficient working, which may boost product demand over the analysis period. North America planetary gearbox market is forecast to generate a revenue of nearly USD 480 million by 2024.

Cast iron is among the most preferred material for designing gearboxes and the segment is estimated to capture the highest market share of above 50% by 2024. Cast iron is extensively utilized for manufacturing outer body of gearboxes. This material facilitates technological advancements, such as improved lubrication in manufacturing techniques. Moreover, comparatively lower weight of the material than its counterparts will propel its demand for designing precision gearbox over the coming years.

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Partial Chapter of the Table of Content

Chapter 4   North America Precision Gearbox Market, By Product

4.1   market share by product, 2016 & 2024

4.2   Parallel

4.2.1   Market estimates and forecast from parallel, 2013 – 2024, (Thousand Units) (USD Million)

4.2.2   Market estimates and forecast from parallel by country, 2013 – 2024, (Thousand Units) (USD Million)

4.3   Right angle

4.3.1   North America precision gearbox market estimates and forecast from right angle, 2013 – 2024, (Thousand Units) (USD Million)

4.3.2   Market estimates and forecast from right angle by country, 2013 – 2024, (Thousand Units) (USD Million)

4.4   Planetary

4.5   Market estimates and forecast from planetary, 2013 – 2024, (Thousand Units) (USD Million)

4.5.1   Market estimates and forecast from planetary by country, 2013 – 2024, (Thousand Units) (USD Million)

Charts & Figures

FIG 1.    North America precision gearbox market segmentation

FIG 2.    Global precision gearbox market volume and revenue, (Thousand Units) (USD Million), 2013 – 2024

FIG 3.    Industry ecosystem analysis

FIG 4.    Pricing Analysis, By Product

FIG 5.    Growth potential analysis

FIG 6.    Porter’s analysis

FIG 7.    PESTLE analysis

FIG 8.    Market volume share by product, 2016 & 2024

FIG 9.    Market volume share by material, 2016 & 2024

FIG 10.   Market volume share by application, 2016 & 2024

FIG 11.   Market volume share by sales channel, 2016 & 2024

FIG 12.   North America precision gearbox market share by country, 2016 & 2024    

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/north-america-precision-gearbox-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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