Precision gearbox Market Overview with Detailed Analysis, Competitive landscape Forecast to 2024
MarketStudyReport.com offers 2018 report on global precision gearbox market that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2018-2024.
Precision gearbox Market Research Report for the period of 2016-2024 that shows the growth of the market is rising at a 5.2% CAGR to 2024.
Growing automation demand in machine tools, food & beverage processing and tobacco industry, materials handling and packaging applications will support the industry growth. The manufacturing industry is focused towards developing gearboxes of small size and lower weights, thus driving the precision gearbox market.
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.
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Companies are focusing towards collaboration of human and robots, also known as collaborative robots for simplified applications. Commercialization of co-bots will further support the demand for precision gearbox market over the forecast period.
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.
Planetary segment accounted for more than 70% of 2015 overall industry revenue. These are niche rather than standard products which provide greater volatility in the precision gearbox industry. Parallel precision gearbox market size was over USD 200 million in 2015. The parallel gearboxes use shaft-mounted gear units on parallel axes which are ideal for use in conveyors and other material handling applications.
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Precision gearbox market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
By Product
Parallel
Right Angle
Planetary
By Application
Military & aerospace
Food, beverage & tobacco
Machine tools
materials handling
Packaging
Robotics
Medical.
Another report title “ United States Precision Gearbox Market Report 2018” In this report, the United States Precision Gearbox market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025. Read more at - https://www.marketstudyreport.com/reports/united-states-precision-gearbox-market-report-2018
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