Precision Gearbox Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

The global Precision Gearbox market size is expected to be worth around US$ 4.97 billion by 2028, according to a new report by Vision Research Reports.

The global Precision Gearbox market size was valued at US$ 2.49 billion in 2020 and is anticipated to grow at a CAGR of 9.3% during forecast period 2021 to 2028.

Growth Factors

The novel coronavirus pandemic along with the possibility of the occurrence of future pandemics has accelerated the implementation and development of automation technologies. Automation minimizes the degree of manual operation and ensures minimum human intervention, which, in turn, is expected to benefit sparsely populated regions or countries with a less skilled labor force. Therefore, the demand for such automated machines and systems is likely to have a positive impact on market growth over the coming years.

Improved capabilities of robots and production flexibility offered by them are anticipated to attract a wide range of labor-intensive countries, such as India, to invest in automation technologies, thereby creating opportunities for precision gearbox manufacturers over the coming years. Robotics offers several benefits including higher throughput rates, greater precision & consistency, and minimization of scrap & waste. These benefits have encouraged a wide range of industries, such as food & beverage, medical, packaging, and materials handling, to incorporate industrial robots, which, in turn, has increased the product demand in recent years.

Report Highlights

The in-line segment accounted for the largest market share of more than 52% in 2020 and is expected to register a steady CAGR over the forecast period owing to lower backlash and higher torque output of these products than right-angle gearheads. In addition, in-line gearheads are economical and can withstand extreme temperatures and harsh washdowns.

In-line gears offer high energy savings, low noise, low vibration, and high overload capacity. These gearboxes are usually used in servo applications; however, they can be easily integrated into existing drive trains as well. However, they are bulky and expensive to install for longer distances because of their stiffness and thickness and need to be grounded to limit interference.

The right-angle segment is estimated to register the fastest CAGR from 2020 to 2027. These gears are often used for applications that require the driven equipment to be closer to the driving equipment. These are usually used in crushing or mixing applications, wherein the gear drive is mounted below or above the equipment.

The planetary gearboxes segment led the global market in 2020 and accounted for a revenue share of over 69%. The segment is expected to maintain its dominance over the forecast period, compact size, high power density, modular arrangements, high efficiency, 9:1 ratio per stage, low backlash, and longer gear life of these products. The planetary gearboxes have applications in machine tools, cranes, and lifts. Bevel gearboxes are used in power plants, automotive, and steel plant industries on account of the ease of changing the operating angle by increasing or decreasing the ratio of teeth between the driven wheels and drive. Helical gearboxes provide smooth and quiet operations and are prominently used in cutters, elevators, and industrial equipment that are used in the oil industry.

Helical gearboxes can transmit power and motion between both right-angle and parallel shafts. In addition, they are ideal for high-load applications as their load is distributed across several teeth resulting in less wear. Spur gears are the simplest form of precision gears and are highly reliable and offer a constant velocity ratio. They are generally used in applications that require torque multiplication and speed reduction. Moreover, they are more efficient compared to helical gears as they can easily be used to transmit a large amount of power. However, they cannot transfer power between non-parallel shafts and cannot be used for power transmission over long distances.

Robotics was the largest application segment in 2020 and accounted for a revenue share of over 20%. Robotics offers several benefits including higher throughput rates, greater precision & consistency, and minimization of scrap & waste. These benefits have encouraged a wide range of industries such as food & beverage, medical, packaging, and materials handling to incorporate industrial robots, which, in turn, has increased the demand for precision gearbox in recent years.

Pick and place robots are widely utilized in various industries owing to their ability to speed up the process of picking up objects and placing them in new locations, thereby increasing the production rates. Moreover, they offer flexibility as their arms can be replaced & positioned for different jobs and the systems can be reprogrammed accordingly. The rising demand for automated assembly lines is expected to fuel market growth over the coming years.

The packaging application is also estimated to register a significant growth rate from 2020 to 2027. Several complex processes take place on the packaging lines. For instance, on a bottling line, multiple processes, such as filling, capping, and labeling takes place and requires a high level of precision, reliability, and dynamics. Thus, precision gearboxes play an important role in carrying out these complex processes, which is likely to augment their utilization in the packaging machinery industry over the forecast period.

Asia Pacific was the largest regional market in 2020 and held over 42% of the total revenue share. The cost of both computer numerical controllers and robots has declined significantly in the last 10 years, which has led to a shorter payback time for the manufacturing equipment. The labor costs in Asia Pacific have been increasing at a rate of 10 to 15% over the past decade, which has led to an increase in the number of manufacturing companies opting for automation, resulting in an increased demand for precision gearboxes in recent years.

The labor cost increase in China has been severe, where a shortage of labor is causing difficulties for labor-intensive industries. As a result, companies are automating their production lines to cope up with the shortage of skilled laborers. The rising adoption of automation in the industrial sector in developed economies is also expected to create opportunities for market players over the forecast period.

Rising investments across industries to decrease production costs are expected to boost the adoption of industrial robots. In addition, improved capabilities of robots, reinforcing safety increase, decreasing prices, and production flexibility offered by robots are anticipated to attract several labor-intensive countries, such as India, to invest in automation technologies, thereby creating opportunities for product manufacturers over the coming years.

Key Players

  • Bonfiglioli Riduttori S.p.A.

  • Wittenstein SE

  • Neugart GmbH

  • Siemens AG

  • Rexnord Corp.

  • ABB Ltd.

  • Sew-Eurodrive GmbH & Co KG

  • Güdel Group AG

  • Dana, Inc.

  • The Timken Company

  • Nidec-Shimpo Corp.

  • Melior Motion

  • Apex Dynamics, Inc.

  • Nabtesco 

Market Segmentation

  • Axis of Orientation Outlook 

    • In-line/Coaxial

    • Right Angle

    • Parallel

  • Gear Technology Outlook

    • Planetary

    • Bevel

    • Helical

    • Spur

    • Others

  • Application Outlook 

    • Food & Beverage

    • Machine Tools

    • Materials Handling

    • Packaging

    • Robotics

    • Medical

    • Others

  • Regional Outlook 

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • U.K.

      • Italy

      • France

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Singapore

      • South Korea

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The Precision Gearbox market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Precision Gearbox market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Precision Gearbox market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Precision Gearbox market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Precision Gearbox market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Precision Gearbox capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Precision Gearbox by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Precision Gearbox market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Precision Gearbox market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Precision Gearbox market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Precision Gearbox industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Precision Gearbox market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Precision Gearbox market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Precision Gearbox market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Precision Gearbox market. These factors have benefited the growth of the global market for Precision Gearbox. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Precision Gearbox. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Precision Gearbox are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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