Precision Gearbox Market Report 2022 By Outlook, Demands & Estimate To 2027
Category: #business  By Rahul Varpe  Date: 2022-11-24
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Precision Gearbox Market Report 2022 By Outlook, Demands & Estimate To 2027

Massively driven by the growing automation across myriad industrial sectors, the growth graph of precision gearbox market is poised to display a marked ascent during 2019-2026. High end use of robotic control systems as operating equipment has propelled the market to grow at a prodigious pace over the forecast period. It is imperative to mention that these precision gearboxes support in maintaining torque under specific speed limits whilst providing high reduction ratios. This parameter prompts increased demand of the gearboxes in machine tools, robotics, and several other applications.

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Precision gearbox industry is also stimulated by the transforming trends across the robotics and automation realm. The ongoing technological advancements in robotics and proliferating use of automated machinery for myriad applications would propel the penetration of the gearboxes globally in the upcoming years. Considering the manufacturing sector, the precision gearboxes not only augment the production rate of the equipment or enhance the productivity, but it also minimizes the labor shortage and shortens the manufacturing lead time.

While precision gearboxes are gaining momentum, analysts anticipate that the elevating use of direct drive motors may hinder the growth prospects of the market. Direct drive motors are claimed to be a perfect alternative for the high-priced precision gearboxes in fewer application sectors. However, the rising deployment of the precision gearboxes for military and aerospace applications supersedes the shortcomings of the product, thereby accelerating the business growth.

As per the estimates put forth by Global Market Insights, Inc., precision gearbox industry is anticipated to target an overall valuation of USD 3.1 billion by the end of 2026.

The worldwide precision gearbox market is segmented into three distinguished types of products namely: right angle, planetary and parallel precision gearboxes. Amidst these, the right-angle precision gearboxes have been claimed to acquire over a significant business share of the overall market and is projected to increase with a considerable CAGR of 4 per cent over 2019-2026. This is ascribed to the product’s compact design and its ability to be merged with other gearboxes. Furthermore, right angle gearboxes find expansive use across the applications operating under high operational torque under accurate speed limits.

As is proclaimed, the precision gearboxes have found vivid utilization across applications spanned by robotics, military and aerospace, and food and beverages sectors. The widespread penetration of precision gearboxes can also be attributed to the expanding automation or surging use of automatic controlled machines across material handling, medical packaging, machine tools, and various other applications.

Speaking in terms of the regional outlook, North America stands tall in the regional hierarchy of the precision gearboxes realm. For the records, the region held over more than 20 per cent of the global revenue share in 2018. Huge monetary expenses on military and aerospace activities currently would prompt the North America precision gearbox industry to accrue massive gains in the upcoming years. As a matter of fact, the United States Department of Defense has earmarked a substantial amount of USD 693 billion for the military and defense budget in 2019. Adding to this, the rising investments in space exploration activities across the region would accelerate the product demand exponentially.

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Precision gearbox market is highly consolidated and houses companies including Emerson, SEW, Rexnord, Brevini Power Transmission, and Siemens, to name a few. These companies have been involved in devising new tactics and strategies to build up a strong portfolio and sustain their foothold in the competitive market.

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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