Automation Is Fastest Growing Segment Fueling The Growth Of Precision Gearbox Market

PRECISION GEARBOX MARKET
Precision Gearbox Market


Precision gearboxes are used in applications where precise motion control and repeatability are crucial, such as factory automation, medical equipment, robotics, semiconductor manufacturing, and military equipment. Precision gearboxes offer features like high accuracy, compact size, low backlash and maintenance-free operation.


The global Precision Gearbox Market is estimated to be valued at Us$ 2872.06 Mn in 2023 and is expected to exhibit a CAGR Of 9.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:


One of the key trends in the precision gearbox market is the rising adoption of precision gearboxes in industrial automation applications due to their high accuracy and repeatability. Industrial automation requires precise control and coordination of moving parts and precision gearboxes are well-suited for such applications. Furthermore, the growing robotics industry is also fueling market growth. An increasing number of applications such as pick and place, packaging, assembly are adopting robotics which rely on precision gearboxes for repeatable and accurate motion over long operating cycles. Precision gearboxes also find increasing usage in medical devices such as surgical robots, CT scanners, endoscopy equipment where backlash-free and precise motion is critical.


Segment Analysis


The global precision gearbox market is segmented by type, end use industry, design and geography. By type, worm gear precision gearboxes dominate the market and account for around 30% share. This is because worm gears provide high accuracy and load capacity for low speed applications. By end use industry, the aerospace segment dominates and is expected to grow at a CAGR of 8.5% during the forecast period. This is owing to increasing aircraft manufacturing and stringent precision requirements in aerospace applications.

Key Takeaways


The global precision gearbox market is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing demand from aerospace and automation industries.

Regional analysis - Asia Pacific region is expected to dominate the market and grow at a CAGR of 10.2% during 2023-2030. This is due to rapid industrialization and presence of key players in countries like China and India.


The global precision gearbox market size for 2023 is US$ 2872.06 Mn. The market is expected to reach US$ 5639.28 Mn by 2030.


Key players operating in the precision gearbox market are Designatronics Inc., Grudel Group AG, igus GmbH, Harmonic Drive LLC, Designatronics Inc., Stöber Antriebstechnik GmbH and Co. KG, EGT Eppinger Getriebe Technologie GmbH, Cone Drive, Framo Morat, Apex Dynamics Inc., ATLANTA Drive Systems, Inc., GAM ENTERPRISES, INC., HIWIN Corporation, Wilhelm Vogel GmbH, DieQua Corporation, Motus Labs, Onvio LLC, and Georgii Kobold GmbH & Co. KG. Among these, Harmonic Drive LLC and igus GmbH dominate with around 15-17% market share each owing to their innovative product portfolio and strong global distribution network.



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