Precision Gearbox Market to grow at 4.5

Precision Gearbox Market to grow at 4.5% CAGR till
2026: Global Market Insights Inc.
Precision Gearbox Market Size is expected to surpass USD 3.1 billion by 2026. Rising
automation across several end-use sectors will boost demand.
Precision gearbox usually helps to maintains torque under specific speed limits. Moreover,
these gearboxes also provide high reduction ratios that increases its demand in machine
tools, robotics, and materials handling applications. Recent advancements in robotics and
increase in use of automated machinery for various operations such as material handling or
inspection, machining, processing, and assembly by several end-use sectors will increase
the use of precision gearbox in the coming years. In addition to this, use of precision
gearbox in manufacturing sector will not only improves the production rate and labor
productivity but also reduces labor shortage and manufacturing lead time. This in turn will
surge the use of precision gearboxes over the forecast spell.
Precision Gearbox Market
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Some major findings of the precision gearbox market report include:
‣ Escalating automation and use of robotic control systems as operating equipment will
improve operational accuracy and reliability.
‣ Growing use of precision gearbox for various end-use applications to alter torque
under precise speed limits will drive growth in the market.
‣ Technology advancements and use of automated machineries and instruments will
positively drive in precision gearbox industry.
‣ Highly fragmented market with larger number of manufacturers across the world.
Few of the eminent players in the precision gearbox market includes Siemens,
Emerson, SEW Eurodrive, Rexnord, Brevini Power Transmission and Bonfiglioli.
Escalating use of direct drive motors may hamper precision gearbox market over the near
term. Direct drive motors prove to be a suitable substitute for the high priced precision
gearboxes in some application areas. Nevertheless, growing popularity of these gearboxes
for military & aerospace and medical applications in order to increase the operational
efficiencies will further boost precision gearbox market size by 2026.
On the basis of product, the industry is segmented into right angle, planetary, and parallel
precision gearboxes. The right angle precision gearboxes account for a reasonable share in
the overall product revenue and is likely to increase with a significant CAGR of more than
4% over the anticipated timeframe, which is due to its compact design and ability to be
combined with other gearboxes. Moreover, these gearboxes also find wide usage in
applications that require high operational torque under precise speed limits.
Increasing use of precision gearboxes in robotics, military & aerospace, and food, beverage
& tobacco will drive its growth in the coming years. Moreover, increasing automation or use
of automatic controlled machines will further expand its usage in materials handling,
machine tools, medical, packaging, and other applications such as woodworks, rubber &
plastics, etc.
North America accounts a fair share of more than 20% of overall revenue in 2018 and will
grow with a significant rate from 2019 to 2026. Owing to huge spending on military &
aerospace activities. For instance, U.S Department of Defense has allocated more than USD
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693 billion for military & defense budget in 2019. Additionally, increasing investments in
space exploration activities will further drive use of precision gearboxes in the coming years.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market
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