According to IMARC Group’s latest report, titled “Precision Gearbox Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market grew at a CAGR of around 6% during 2015-2020. A precision gearbox refers to a mechanical device that is used for high-precision motion control applications. It is designed within high accuracy standards and is used to reduce inertia ratio in motors, increase or decrease torque and alter speeds under precise limits. It is commonly available in parallel, planetary and right angles variants. Precision gearboxes are compact and lightweight and offer improved efficiency, minimal backlash, and operate at low-frequency noises. As compared to traditional gearboxes, precision gearboxes are more flexible, provides enhanced accuracy and have a higher tolerance. As a result, they find extensive applications across medical, packaging, robotics, aerospace, and food and beverage (F&B) industries.
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The global precision gearbox market is primarily being driven by the significant growth in the automotive industry. Precision gearboxes are widely used to eliminate the clash of gears and alter speed under precise limits. Moreover, the increasing demand for tailored precision gearboxes that are lightweight and provide higher transmission accuracy are providing a considerable boost to the market growth. Other factors, including the widespread product adoption in the robotics industry and the increasing demand for automation to enhance reliability and productivity, are anticipated to drive the market further. Looking forward, IMARC Group expects the global precision gearbox market to exhibit moderate growth during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- ABB Ltd.
- Apex Dynamics Inc.
- Bonfiglioli Riduttori SpA
- Dana Incorporated
- Güdel Group AG
- Melior Motion GmbH
- Nabtesco Corporation
- Neugart GmbH
- Nidec-Shimpo Corporation (Nidec Corporation)
- Rexnord Corporation
- SEW-EURODRIVE GmbH & Co. KG
- Siemens AG
- The Timken Company
- Wittenstein SE.
Breakup by Axis of Orientation:
- Right Angle
Breakup by Gear Technology:
Breakup by End Use Industry:
- Food and Beverage
- Machine Tools
- Material Handling
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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