Precision Gearbox Market Is Extrapolated To Grow In Future, Because Of Rising Awareness About Product Benefits Across Various Industries

  

 

Precision Gearbox Industry Overview

 

The global precision gearbox market size is expected to reach USD 5.72 billion by 2030, as per a new report by Grand View Research Inc. The market is anticipated to expand at a CAGR of 9.6% from 2022 to 2030. Increasing implementation of automation technology throughout the production process is likely to propel the demand for the installation of robots and is anticipated to drive the growth of the market.

 

The presence of a large number of raw material suppliers, providing multiple options to product manufacturers is projected to result in low bargaining power. In addition, the low switching cost for manufacturers is expected to decrease the bargaining power of suppliers. Hence, the bargaining power of suppliers is low to medium.

 

Precision Gearbox Market Segmentation

Grand View Research has segmented the global precision gearbox market based on product, application, and region:

 

Based on the Product Insights, the market is segmented into Planetary, Harmonic, Cycloid.

• Planetary precision gearbox led the market and accounted for about 67% share of the revenue in 2021. The product is increasingly used in several industrial & mobile applications, including track drives, mixing, pumps, auger & drilling drives, hoist drives, and cutter head drives.
• Their high efficiency, high power density, and low backlash make them ideal for usage in several applications such as material handling equipment, machine tools, and food, beverage & tobacco processing.
• Planetary precision gearboxes are one of the most commonly used gearing systems, utilized in several industrial & mobile applications, including track drives, mixing, pumps, auger & drilling drives, hoist drives, and cutter head drives. Planetary precision gearboxes are generally used for applications that need high accuracy and reliability of the system.
• Harmonic precision gearboxes are used across several industries in applications such as machine tools, and electronic equipment. The high precision harmonic gearbox is used in robots and semiconductor devices that have compact designs and need high accuracy levels, whereas, the low precision gearbox is used for antenna systems; and standard precision systems are most widely used in food, beverage & tobacco, and machine tools applications.
• The cycloidal precision gearbox is primarily utilized for applications that require precise and accurate positioning properties. These gearing systems display better shock resistance characteristics as compared to industrial gearboxes, thus driving their demand over the forecast period.

 

Based on the Application Insights, the market is segmented into Military & Aerospace, Food, Beverage, & Tobacco, Machine Tools, Materials Handling, Packaging, Robotics, Medical, Others.

• The robotics application segment led the precision gearbox market and accounted for more than 19% share of the global revenue in 2021. The demand for the application can be attributed to the growing utilization of robotic devices, owing to the advantages they provide concerning consistency & precision, high throughput rates, and minimization of waste & scrap.
• Precision gearboxes help to regularize the right movement of conveyer belts and wagon tipplers by maintaining the required speed of operation of the equipment.
• The product is widely used in assembly with servo motors for driving the packaging manufacturing process and plays a crucial role in maintaining uniformity of product by driving the machine at a constant set speed, thus leading to its increased demand.
• The manufacturers are providing customized gearboxes to food, beverage & tobacco companies, with high torque density and high precision to improve the output of food processing equipment. 

 

Precision Gearbox Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Key industry participants spend heavily on product innovation and customized products to meet customer needs. Continuous Research & Development (R&D) in designing has led to the introduction of a compact and miniature-sized precise lineup of gearboxes used in robotics and motion control industrial applications.

Some prominent players in the global precision gearbox market include

• Harmonic Drive LLC
• NIDEC-SHIMPO CORPORATION
• Stöber Antriebstechnik GmbH and Co. KG
• WITTENSTEIN SE
• GAM ENTERPRISES, INC.
• DieQua Corporation
• Neugart GmbH
• Apex Dynamics, Inc.
• Sumitomo Drive Technologies
• Nabtesco Corporation
• Cone Drive
• Hiwin Corporation
• Wilhelm Vogel GmbH
• Sureservo
• SEW-EURODRIVE GmbH & Co KG
• Onvio LLC
• PARKER HANNIFIN CORP
• ATLANTA Drive Systems, Inc.
• Framo Morat
• Güdel Group AG
• SWG Solutions
• Bonfiglioli Riduttori S.p.A.
• EGT Eppinger Getriebe Technologie GmbH
• ABB Motors and Mechanical Inc.
• Ondrives Ltd.
• Designatronics Inc.
• Genesis Robotics
• Motus Labs
• GEORGII KOBOLD GmbH & Co. KG
• igus GmbH

 

Order a free sample PDF of the Precision Gearbox Market Intelligence Study, published by Grand View Research.