Press release
Precision Gearbox Machinery Market Size, Business Opportunities, Top Key Players And Forecast 2033
Precision Gearbox Machinery Market
The precision gearbox machinery market size is expected to see strong growth in the next few years. It will grow to $7.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to global industrial expansion, rise in industrial automation, expansion of robotics and industry 4.0, miniaturization demands, growth in renewable energy sectors. Major trends in the forecast period include strategic partnerships, innovative medical equipment production, iot-based solutions, advancements in automation.
Market Overview -
Precision gearbox machinery refers to a mechanical device that alters torque by raising or lowering speed by a precise measure. A minimum of two precision gears are used in this, with the motor unit driving one of the gears. These are used for high-precision motion control applications in various industrial equipment that are made within high accuracy standards.
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Robotics Revolution Fuels Demand For Precision Gearboxes
The growing utilization of robotic devices is expected to propel the precision gearbox machinery market going forward. A robot device is a programmable machine that can execute a task without the intervention of humans. Precision gear box machinery is used in robotic devices that are constructed simply and characterized by their precise transmission of motion, zero-backlash, and high transmission ratios. For Instance, in June 2022, according to the International Federation of Robotics, a Germany-based non-profit organization that promotes, strengthens, and protects the robotic sector data, 48.68k units of industrial robots were shipped globally in 2021 in Europe, which is an increase of 27% compared to 2020. 4.9k units of industrial robots were sold in 2021 in the US, an increase of 27% as compared to 2020 data. 3.54k units of industrial robots had been shipped in 2021, an increase of 33% as compared to 2020 in Asia. Therefore, the growing utilization of robotic devices is driving the growth of the precision gearbox machinery market.
Competitive Landscape -
Major companies operating in the precision gearbox machinery market report are Reishauer AG, Nidec Corporation, DMG Mori Aktiengesellschaft, DVS Technology Group, EMAG GmbH & Co. KG, Gleason Corporation, Liebherr-International Deutschland GmbH, Matrix Precision CO. LTD., SEW-EURODRIVE GmbH & Co KG, Siemens AG, Harmonic Drive LLC, Stöber Antriebstechnik GmbH and Co KG, Wittenstein SE, GAM Enterprises Inc., Neugart GmbH, Apex Dynamics Inc., Sumitomo Heavy Industries Ltd., Nabtesco Corporation, Wilhelm Vogel GmbH, Onvio LLC, ATLANTA Drive Systems Inc., Transprecision Gears Pvt. Ltd., DieQua Corporation, Cone Drive, Hiwin Corporation, Sureservo, Parker Hannifin Corp., DANOBAT S. Coop, Lagun Engineering, Framo Morat Group
Technological Advancements Driving Innovation In Precision Gearbox Machinery
Technological advancements are a key trend gaining popularity in the precision gearbox machinery market. Major companies operating in the precision gearbox machinery market are focused on developing new technological solutions to strengthen their position in the market. For Instance, in January 2021, Sumitomo Drive Technologies, a US-based company operating in precision gearbox machinery, launched the F4CF-DA series of modular precision gears that utilize the Fine Cyclo Technology. The most crucial innovation of the new series is the increased torque per unit size. The number of sizes in the series lineup has also been expanded in response to users' demand for more individuality and sizes have been developed accordingly. They are approximately 8% smaller in diameter and 5% shorter in length than the previous generation. Despite this size reduction, performance has been increased by approx. 20% across the range. The noise levels of the DA series have also been decreased.
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Key Segments -
The precision gearbox machinery market covered in this report is segmented -
1) By Type: Planetary Gearbox, Worm Gearbox, Helical Gearbox, Bevel Gearbox, Spiral Bevel Gearboxes, Other Types
2) By Manufacturing Process: Hobbing, Grinding, Turning, Honing
3) By Shaft Orientation: Coaxial, Right Angled, Parallel Shift
4) By Application: Machine Tools, Material Handling, Packaging, Robotics, Automobile, Off-Road Vehicles, Wind Towers, Agriculture, Railways, Marine
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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