Precision Gearbox Market size is valued at US$ 2.3 Bn in 2017 and expected to grow at a CAGR of 7% in the forecasting period. The global precision gearbox industry share is driven by technological advancements to improve energy efficiency. Speed reducers with higher torque, maintenance-free construction, smooth running, compact design, high load capacity and lower costs are some of the characteristics of these products which manufacturers are providing as their unique selling propositions. Emerging applications such as robotics will create demand for highly precise movements fulfilled by these products. Rising automation requirements in the manufacturing sector will drive the precision gearbox market size for use in assembly lines, controlling conveyor belts, bottling, packaging, and precise positioning of products. The presence of substitutes such as direct drive systems may hamper the global market share. These products eliminate the use of gears, thus reducing the weight and complexity, and increasing the efficiency as there is no energy loss. The shift from using coil-driven to permanent magnet driven products has reduced the overall costs of the direct drive systems. Simulation of direct drives through software leads to more accurate power conversion as investments are saved in simulation processes. Precision Gearbox Market
The Precision Gearbox market is segmented based on product, application and geography. By product segment, the market is segmented into parallel, right angle and planetary. By applications, the market is segmented as military & aerospace, food beverage & tobacco, machine tools, material handling, packaging, robotics and medical. Robotic precision gearbox dominates the market with over 50% share and will exhibit rapid growth over the forecast timeframe. This can be credited to increased demand in prosthetic limbs and joints for balancing and achieving precise movements in service and industrial robotics applications. Geographically, the Precision Gearbox market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be the largest market for Precision Gearbox during the forecast period. Rising manufacturing base with increased focus towards minimum operational costs & increased accuracy will support the demand over the forecast timeframe. Several countries have adopted their national regulations with international recommendations (IEC 60034-1), resulting in temperature classes, coolant temperatures, and temperature rise limits of the gearboxes under permissible values in any region. Key player across the Precision Gearbox industry are Brevini, SEW Eurodrive, and Siemens. The industry is highly fragmented as local manufacturers capture considerable share in many regions by providing cost advantages to customers against established companies. Growing requirements for tailored versions of standard gear offerings will increase precision gearbox market size over the forecast timeframe. 3D modelling has enabled producers to design and manufacture small quantities of custom products at low costs. Energy-efficiency classifications for electric motors have led to improved cost savings and reduced consumption. The new directives in European Union referred to as EU Minimum Energy Performance Standard (MEPS) effective from January 2015 will improve energy efficiency of electric motors by 20-30%.
Precision Gearbox Market Scope
Precision Gearbox Market, By Product
• Parallel • Right Angle • Planetary
Precision Gearbox Market, By Application
• Military & Aerospace • Food Beverage & Tobacco • Machine Tools • Material Handling • Packaging • Robotics • Medical
Precision Gearbox Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America
Key Players operating in the Precision Gearbox Market:
• Brevini • SEW Eurodrive • Siemens • BONFIGLIOLI RIDUTTORI • Dana Brevini Power – Transmission • Güdel • SEW-EURODRIVE Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current Precision Gearbox market outlook. Report encompasses the Precision Gearbox market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Precision Gearbox market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Precision Gearbox market positioning of competitors.