Precision Gearbox Market 2019, Global Industry Analysis, Size, Share, Growth, Trends and Forecast - 2024

A New Market Study, titled “Precision Gearbox Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

PUNE, MARKETERSMEDIA, INDIA, November 11, 2019 /EINPresswire.com/ -- Summary

A New Market Study, titled “Precision Gearbox Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.

This report provides in depth study of “Precision Gearbox Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Precision Gearbox Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.

This market report offers a comprehensive analysis of the global Precision Gearbox market. This report focused on Precision Gearbox market past and present growth globally. Global research on Global Precision Gearbox Industry presents a market overview, product details, classification, market concentration, and maturity study. The market value and growth rate from 2019-2025 along with industry size estimates are explained.

The latest advancements in Precision Gearbox industry and changing market dynamics are key driving factors to depict tremendous growth. Also, the risk factors which will have a significant impact on the Global Precision Gearbox industry in the coming years are listed in this report. The revenue-generating Precision Gearbox types, applications, and key regions are evaluated. Top growing regions and Precision Gearbox industry presence cover Asia-Pacific, North America, Europe, Middle East, African countries and South America. This Precision Gearbox business study also analyzes the top countries in these regions with their market potential.

Key manufacturers are included based on company profile, sales data and product specifications etc.:
ABB, Bonfiglioli, Emerson, Rexnord, SEW Eurodrive, Siemens, Brevini Power Transmission, Cone Drive Operations, Curtis Machine Company, David Brown Engineering, Horsburgh & Scott, Oerlikon Graziano Drive Systems

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Market Overview
A gearbox or servosystem can deliver precise motion control. However, proper care should be taken in product design, material selection, and system implementation. There is a high demand for Precision Gearbox from several industry verticals, particularly robotics, packaging, and military. This factor is foreseen to stimulate the Precision Gearbox market growth. Rising demand for automation in manufacturing procedures to enhance productivity, energy efficiency, and reduce resource and labour costs is anticipated to drive the demand for precision gearboxes in the coming future. Precision gearboxes are primarily designed for complex industrial and product manufacturing applications wherein extreme precision and accuracy is critically essential.

Moreover, Precision Gearbox is designed and machined to resist high tolerance. Also, the advanced precision gearbox offers increased system efficiency and performance. In addition, Precision Gearbox is more compact and is primarily characterized by reduced noise operation as compared to conventional gearbox systems. Precision Gearbox systems, therefore, are widely utilized in AI-based robotics systems, machine tools, material handling equipment, packaging applications, and food processing machines. The planetary precision gearbox product segment is expected to witness considerable growth and maintain its dominance during the forecast period. The right-angled precision gearbox is another critical type of gearbox that is used in several industrial and product manufacturing applications.

The precision gearbox is advanced mechanical equipment that is utilized to control torque by altering/regulating speed under precise limits. The precision gearbox contains multiple gears, where particular gears on input shaft are driven by a mechanical motor, which efficiently drives the layshaft to rotate gears on the central shaft for system functioning. The gears used in precision gearbox follow a specified gear ratio which is proportional to the resultant torque. Also, precision gearbox provides increased tolerance as compared to standard gearboxes. This feature makes this equipment more reliable and efficient for several industrial applications.

Market Segmentation
The global Precision Gearbox market can be analyzed on the basis of product types, applications, and regional markets. Based on product types, the global Precision Gearbox market can be segmented into-
• Parallel Precision Gearbox
• Right Angle Precision Gearbox
• Planetary Precision Gearbox

Based on applications, the global Precision Gearbox market can be segmented into-
• Military & Aerospace
• Food, Beverage & Tobacco
• Machine Tools
• Materials Handling
• Packaging
• Robotics
• Medical

The robotics application segment is expected to witness considerable growth. The growth of the robotics application segment can be attributed to the rising utilization of robots across different industry verticals, such as metal engineering, automotive, electrical and electronics industries. The usage of robots offers numerous benefits such as reduced labour costs, increased system speed and efficiency, reduced waste and scrap, and automation of various repetitive tasks.

Regional Overview
Based on geography, the global precision gearbox market can be segmented into the Asia Pacific, North America, Europe, South America, and the Middle East and Africa. The Asia Pacific is the prominent market for the precision gearbox. The region contains various emerging countries like India and China. Factors, such as improved investments in the automation sector, and ongoing advancements in the manufacturing industry are expected to boost the demand for precision gearbox in different equipment such as material handling machines, packaging machines, and machine tools. This factor is further expected to drive product demand in the Asia Pacific region. North America is another leading market for precision gear and is expected to witness considerable growth in the future.

Industry News
Bonfiglioli Transmissions Pvt. Ltd., a prominent subsidiary of Bonfiglioli Riduttori S.p.A., has established a new precision gearbox manufacturing facility in Chennai, India. The establishment of this new manufacturing plant was done with the aim to serve the rising product demand in the Asia Pacific region. This expansion can help the organization to connect with a wider customer base and improve its sales and business revenue.

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Major Key Points in Table of Content

1 Global Market Overview

2 Regional Market

3 Key Manufacturers

4 Major Application

5 Market by Type

6 Price Overview

7 ConclusionFig Global Precision Gearbox Market Size and CAGR 2013-2018 (Million USD)

Continued….

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