Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Precision Gearbox Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Precision Gearbox Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Precision
Gearbox Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Precision Gearbox Market is offered. In accordance with the report, the global
Precision Gearbox Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Mechanical
devices utilized for the management of torque by the alteration of speed within
the precise range are called precision gearboxes. These gearboxes are composed
of two or more gears. One of the gears placed on input shaft is motor-driven,
where the layshaft is driven with the aim of rotating gears based on main shaft
for its functionality. A gear ratio proportional to output torque is followed
by the gears of the precision gearbox. Precision gearboxes are strong,
efficient, reliable and possess high tolerance relative to standard gearboxes.
Precision gearboxes finds its application in a wide range of end use
manufacturing industries.
Market Drivers
The
booming manufacturing sector coupled with the robust implementation of
precision gearbox in this market is the impetus towards the growth of this
market. The application of the rapidly improving technologies with the
automation of manufacturing processes is a determining factor. Soaring demand
for fluid injection, positing, transportation of products through conveyor
belt, and precise turning are leading to the demand for precision gearboxes.
Further, automation of various manufacturing process that aids different
sectors are positively influencing this market.
Advancement
of technology has led to the development of artificial technology and the
employment of robots across different sectors. These booming sectors
complementary to the surging implementation of robotics aimed at reducing the
involvement of human and the resulting human error is fueling the growth of
this market.
Precision
Gearboxes are increasingly being adopted in the aircrafts, ground-based defense
vehicles and in spacecrafts. The rising border tensions and the race to
structurally develop the defense sector is empowering the growth of this
market. According to SIPRI, a 2.7% increment in defense expenditure has been
witnesses across the globe. Such increment tin course of time is driving the
demand for precision gearboxes and surging its demand. Moreover, the frequency
of space trips calls for the deployment of precision gearboxes owing to its
tolerance, power density, efficiency and high precision which is further
augmenting the growth of the precision gearbox market.
Market Restraints
The
availability of substitute products that can be used in place of precision
gearboxes is severely disrupting the growth of this market. Speed reducers and
direct drive systems are better replacements of precision gearbox. These
products are efficient in energy conservation, reduces product weight, simplifies
the complex system and makes utilization of lesser numbers gears. All these
benefits accrue to direct drive systems which is hindering the growth of the
precision gearbox market.
Opportunities
The
advancement of technology and the pace at which technological advancement is
taking place complementary to the results of its employment in the precision
gearbox market is a lucrative opportunity for the precision gearbox market.
The
surging unrest in between nations and the constantly developing defense structure
is expected to widen the market for precision gearboxes.
Rapid
industrialization and the broadening manufacturing sector across the globe
especially in the developing and underdeveloped regions are expected to provide
bankable opportunities to kickstart the precision gearbox market in these
regions.
Trends
The
Asia Pacific region is expected to showcase significant growth in the forecast
period. This can be traced back to the constantly reducing cost of both robots
and computer numerical controllers, the surging labor cost in the Asia Pacific
region has reduced the dependence of manufacturing industries on human capital
and inclined them towards automation. The significant increase in labor cost
and the deficiency of labor in the manufacturing sector which is being recently
witnessed in China is augmenting the growth of this market in this region in
the near future. The growing investment in this sector, production economies
resulting from large scale production are projected to snatch the attention of labor-intensive
countries of the Asia Pacific region in adopting automation processes and drive
the demand for precision gearbox in the forecast period.
Segment Covered:
This market
intelligence report on the global Precision Gearbox Market encompasses market segments based on axis of orientation,
gear technology, application and country.
By Axis
of Orientation the global Precision Gearbox Market has been divided into:
q Parallel
q Right
Angle
q In
Line/Coaxial
By Gear Technology the global Precision
Gearbox Market has been divided into:
q Spur
q Helical
q Bevel
q Planetary
q Others
By Application
the global Precision Gearbox Market has been divided into:
q Medical
q Robotics
q Packaging
q Materials
Handling
q Machine
Tools
q Food
& Beverage
q Others
By country/region,
the global Precision Gearbox Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Writtenstein
SE
q Unites
Stars Inc
q Nidec-Shimpo Corporation
q Rexnord Corporation
q Dana, Inc
q ABB Ltd
q Siemens AG
q Apex Dynamics
q Neugart GmbH
q Nabtesco
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Precision Gearbox Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Wittenstein SE
In February
2019, smart gearboxes comprising of cynapse features were developed by
Wittenstein SE. integrated sensors proficient in recording and storing
information including operating hours, mounting positions, temperature and
gearboxes are the chief cynapse features.
United Stars Inc
In October 2018,
Precision Gears Inc was acquired by United Stars Inc. the former being a
customized gear manufacturer specializing in the production of helical gears,
Spur gears, and worm gears.
Nidec-Shimpo Corporation
In September
2018, the 100% ownership of MS-Graessner GmbH and Co and its group companies
were acquired by Nidec-Shimpo Corporation. The former being a privately owned
German company.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Precision
Gearbox Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Precision Gearbox Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Precision Gearbox caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Precision
Gearbox Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Precision Gearbox Market
v
Identification
of key factors driving investment opportunities in the Precision
Gearbox Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants