Precision Gearbox Market to Record Huge Growth at 9.6% CAGR During the Forecast Period 2022-2030

Posted on 2023-01-26 by researchinsights in Industrial // 0 Comments

San Francisco, California , USA, Jan 27, 2023 — /EPR Network/ —

Precision Gearbox Industry Overview

The global precision gearbox market size was estimated at USD 2.5 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 9.6% from 2022 to 2030.

Rising awareness about the product benefits across various industries including, military & aerospace, machine tools, material handling, robotics, and medical, is expected to drive the market growth. The market witnessed a steep decline in growth, owing to the lack of demand from the industrial sector. The government imposed restrictions caused a temporary closure across a wide range of industries, which resulted in a lack of new installations and maintenance and repair of existing automation systems, thereby limiting the product demand.

Gather more insights about the market drivers, restrains and growth of the Global Precision Gearbox Market

In addition, a large number of manufacturers suffered huge financial losses due to the pandemic, leading to a number of manufacturers opting to postpone the installation of new automation systems. However, the industry witnessed a significant rise in product demand from the medical sector, which benefitted the growth of the market during the forecast period.

The market in China is expected to be driven by an increase in the adoption of several advanced material handling equipment such as wagon tipplers, belt conveyor systems, and bucket elevators for easy movement and handling and materials, in the cement industry. In addition, the adoption of advanced robotic systems in warehousing as per the trend of zero-labor warehousing in China is expected to benefit the growth of the market.

Direct-drive actuators are likely to pose a threat of substitution owing to their benefits such as low maintenance, minimized cost, and compact design. However, a lack of precision in movements is likely to restrict its demand across the application industries. This is projected to keep the threat of substitution low.

Product manufacturers are forward integrated and engaged in the distribution and supply of manufactured goods. This allows the manufacturers to gain a higher market share and build a stronger market position. In addition, the manufacturers prefer a consultative approach to provide optimum solutions and meet the exact consumer requirements.

Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.

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Precision Gearbox Market Segmentation

Grand View Research has segmented the global precision gearbox market based on product, application, and region:

Precision Gearbox Product Outlook (Revenue, USD Million, 2017 – 2030)
- Planetary
- Harmonic
- Cycloid
Precision Gearbox Application Outlook (Revenue, USD Million, 2017 – 2030)
- Military & Aerospace
- Food, Beverage, & Tobacco
- Machine Tools
- Materials Handling
- Packaging
- Robotics
- Medical
- Others
Precision Gearbox Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Precision Gearbox market include

Harmonic Drive LLC
NIDEC-SHIMPO CORPORATION
Stöber Antriebstechnik GmbH and Co. KG
WITTENSTEIN SE
GAM ENTERPRISES, INC.
DieQua Corporation
Neugart GmbH
Apex Dynamics, Inc.
Sumitomo Drive Technologies
Nabtesco Corporation
Cone Drive
Hiwin Corporation
Wilhelm Vogel GmbH
Sureservo
SEW-EURODRIVE GmbH & Co KG
Onvio LLC
PARKER HANNIFIN CORP
ATLANTA Drive Systems, Inc.
Framo Morat
Güdel Group AG
SWG Solutions
Bonfiglioli Riduttori S.p.A.
EGT Eppinger Getriebe Technologie GmbH
ABB Motors and Mechanical Inc.
Ondrives Ltd.
Designatronics Inc.
Genesis Robotics
Motus Labs
GEORGII KOBOLD GmbH & Co. KG
igus GmbH

Order a free sample PDF of the Precision Gearbox Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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