Precision Gearbox Market Growth 2018 Industry Forecast with Major Companies – ABB, Bonfiglioli, Siemens, Emerson, SEW Eurodrive

Precision Gearbox Market size is set to exceed USD 2+ billion by 2024; as per a new research report by Global Market Insights, Inc.

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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These machines are designed to withstand high tolerances offering efficiencies of 90% and above and are used for speed reduction to provide high torque multiplication. Precision gearboxes are preferred by designer as they have smaller components, utilizes less space and saves cost.

Industry Growth drivers:

1. Rising automation demand across wide applications
2. Increasing use of precision gearboxes in robotics

Precision Gearbox Market By Application

• Military & aerospace
• Food, beverage & tobacco
• Machine tools
• materials handling
• Packaging
• Robotics
• Medical

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ABB Ltd
2. Bonfiglioli
3. Emerson
4. Rexnord
5. SEW Eurodrive
6. Siemens
7. Brevini Power Transmission
8. Cone Drive Operations
9. Curtis Machine Company
10. David Brown Engineering
11. Horsburgh & Scott
12. Oerlikon Graziano Drive Systems

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Robotics applications are expected to grow at 6.5% CAGR from 2016 to 2024. This growth is attributed to the increasing demand in designing prosthetic limbs and joints for balancing of robots and for achieving precise movements in industrial applications. Furthermore, the automated material handling segment is expected to witness a steady growth owing to increasing installations of these at manufacturing plants in order to fastened the overall production process. Growing demand for automation will further lead to new opportunities.

U.S. F&B and tobacco industry is focused towards competitive pricing along with sustainable production, packaging, and transportation solutions. This operational efficiency can be achieved by adopting automation solutions enabling manufacturers to develop high-quality products at lower costs. Rising automation needs in the U.S. will further support the market over the next eight years. Europe precision gearbox market share was responsible for over 30% of overall 2015 revenue and will grow significantly throughout the forecast timeline. The APAC Market will witness growth on account of increasing automation and adoption of operational efficient machinery.

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The major players competing in the high precision gearbox market include Siemens, SEW Eurodrive, Brevini, etc. These companies possess a strong brand identity and pose a strong challenge for new entrants. Heavy research and developments costs acts as a major barrier for new entrants. The overall industry is highly fragmented owing to large number of regional and local players. Product development, merger and acquisitions, strategic partnerships comprise some of the key competitive strategies adopted by the industry players.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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