Report Coverage
The report: “Precision Gear Market– Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of Precision Gear Market.
By Type: Flat Gears, Ring Gears, Sector Gears, Precision rack and pinion gears, Others
By Product Type: Parallel Gearbox, Right Angle Gearbox, Planetary Gearbox
By Application: Military & Aerospace, Machine tools, Packaging, Food & beverage, Material Handling, Medical, Robotics, Others
By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
Key Takeaways
• Growing demand from various applications industries, in particular packaging, robotics and the military, is expected to drive precision gear market growth.
• Technological developments have increased the demand for industrial robots & machine tools as a result of which the gearbox market is increasing at a high rate.
• Planetary precision gearboxes account for about three quarters of the market share of precision gearboxes, as they provide high precision and reliability for different applications.
• The robotics sector is the largest consumer of precision gearboxes, and is expected to expand at a significant rate in the near term. This is due to the growing use of humanoid artificial joints and limbs.
• Owing to the growing manufacturing industry, APAC accounts for the dominant share of the global market, shifting its emphasis to higher accuracy and low operating costs, creating demand for precision gears in the region.
By Product Type- Segment Analysis
During the forecast period, the planetary gearbox segment is expected to grow at a CAGR of 6.1%.Planetary precision gearboxes account for approximately three quarters of the market share of precision gearboxes, as they give high accuracy and reliability for various applications. Such gearboxes also have very low backlash ratings, i.e. 1-9 arc-min with service life of more than 20,000 hours with the minimum maintenance.Planetary gearboxes consist of a planet carrier, a sun gear, multiple planet gears and a ring gear. The sun gear drives the planetary gears surrounding it which, in effect, travel inside the ring gear. Planetary precision gearboxes have a compact nature and the rolling power makes them highly powerful. In addition, the load can be distributed among the gears on the planet. These planetary gearboxes also have a high torque-to-weight ratio, and produce low backlash as well. Planetary precision gearboxes are most widely used in applications where accurate positioning is extremely necessary, for example pick and place robot.Low backlash, high efficiency, high power density and the quiet operation of planetary precision gearboxes are likely to drive precision gear market growth over the forecast period.
By Application - Segment Analysis
The Robotics Segment is expected to grow at a higher CAGR of8.3% during the forecast period.The robotics sector is the largest user of precision gearboxes, and is likely to increase over the near term with a significant rate. This is due to the increasing use of humanoid artificial joints and limbs as well as manufacturing robots, which use precision gearboxes to balance and achieve extremely precise moves for various services and industrial operations.Precision gear is mostly used in robotics sector because accurate positioning is very necessary in this sector and precision gearbox provides that. The growth in robotics sector is expected to propel the market growth of precision gearbox.
By Geography - Segment Analysis
APAC currently dominates the global Precision Gear market with a share of more than 37.5%. Asia Pacific accounts for the dominant share of the global market due to the rapidly rising manufacturing industry, which shifts its emphasis to higher accuracy and minimal operating costs, generating demand for precision gear in the region.The region comprises a variety of emerging economies, such as China and India. Rapidly rising manufacturing industry, concentrating on higher precision and low operating costs is increasing demand for precision gearboxes in these regions. Rising automation investment coupled with increasing manufacturing sector is likely to increase demand for different equipment such as packaging machines, material handling machines, and machine tools. This aspect drives demand for precision gearboxes.Rising investment in regional manufacturing will be a key supply-influencing factor. For example, China-based manufacturer of gadgets, Vivo has recently announced in the near future investment of over one billion USD for its production facilities in India and these rising investments are expected to boost the market growth in this region.
Drivers – Precision Gear Market
Advancements in Gearbox Technology
The demand for precision gearboxes is driven mainly by technical developments in the sector to boost energy efficiency and operational reliability. In order to improve output and minimize faults and delays in the process, increasing automation in the manufacturing sector can increase precision gearbox uses for various applications including assembly lines, bottling, packaging, conveyor belt control and precise positioning of the products in a production or assembly line.In addition, precision gearboxes also deliver smooth running, maintenance-free construction, high load capacity, and compact design, further expanding their use in robotics and medical-based applications and is anticipated to boost the market growth of precision gear.
Rising Number of High Torque Application
One key justification for using a gearbox is the multiplication of torque. It lets designers use smaller, less energy-intensive servosystems. Designers may use smaller parts instead of buying fairly large servo drives and motors, saving space and money.The output torque increases in direct proportion with the gear ratio, and the output shaft's top speed decreases. If an application can withstand the reduced speed, the high torque can be supplied by a relatively small servosystem.The growing number of high torque applications would have a direct effect on the market. And thus it is anticipated to boost the market growth of precision gear.
Challenges – Precision Gear Market
Emerging Use of Direct Drive System
The availability of alternatives such as direct drive system will impact the market since the move to permanent magnet-driven goods has led to a reduction in direct dive system costs.The emerging use of direct drive systems is expected to reduce precision gearbox demand in the near future. Direct drive systems minimize the use of gears, thereby reducing the gearbox's size and weight, thus increasing the gearbox's overall performance because there is no energy loss.As such systems use coil-driven permanent magnet components, the total cost of direct drive systems are reduced.Industrial gear market is cost-sensitive as growing prices of raw materials such as stainless steel, cast iron, and bronzecan hamper precision gearbox market growth due to availability of lower cost alternatives such as direct drive systems.
Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Precision Gear Market. Precision Gear Market is expected to be dominated by major companies such asSiemens AG, SEW Eurodrive Group, Brevini, ABB, Emerson Electric Company,Rexnord Corporation, Anaheim Automation, Cone Drive Engineering, Premium Transmission, Allied Precision Gears Inc, Ashoka Machine Tools Corporation.
Acquisitions/Technology Launches
• In August 2019, Premium Transmission launched seven clutter breakers. New releases include PCX-SERIES tower cooling gearbox, small planetary gearbox, smart modular gearbox-helical gearbox, inline gearbox engine, gearbox lifting machine, gearless lifting machine and flexible fluid attachment.
• In August 2017,Brevini has launched a new gearmotor range that will extend its capabilities across a wide variety of industries and sectors within small to medium-duty applications.
