Precision Transmission Market Size – US $ 5.0 Billion by 2028
TOKYO, September 30, 2021 (GLOBE NEWSWIRE) – Acumen Research and Consulting, a global market research provider, in a recently released report titled “Precision Gearbox Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028 ”.
Asia-Pacific achieves peak market share for precision gearboxes
Significant investments have been made in the automotive industry, where the demand for industrial robots used in vehicle production has increased sharply in the precision gearbox market in Asia-Pacific. Investment in new auto manufacturing facilities is expected to continue, albeit at a slower pace than in previous years. The Chinese auto industry continues to grow rapidly in the APAC provinces, making it difficult for Japanese industrial robot suppliers using precision gearbox products to compete effectively with Chinese hydraulic industrial robot manufacturers in the region. . These factors have generated a lot of interest in the precision gearbox market.
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Adoption of precision gearbox products is high in Europe and will continue to be so throughout the forecast period. France’s demographic growth has resulted in a strong demand for housing and infrastructure development in recent years. This promotes the growth of the construction industries. The plastics segment, meanwhile, is expected to represent significant growth in the size of the precision gearbox market in France. The increasing use of plastics can be attributed to their light weight; Minimal lubrication, reduced maintenance and lower power output requirements are factors that are positively impacting the growth of the precision gearboxes market. Further, advancements in manufacturing and molding techniques are fueling regional growth in the Precision Gearbox market.
The growth of the industry is expected to be accelerated by the massive demand for smoother and improved driving experiences, as well as easy shifting in vehicles. In 2017, automobile production increased by around 6.5% in France compared to the previous year. According to a report released by the Outdoor Industry Association, the high demand for silent operations in vehicles is positively impacting the growth of the precision gearbox market.
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Latest precision gearbox technologies increase performance and efficiency at the industrial level
With the introduction of a number of developments in the field of industrial gearboxes, designers now have more options in terms of performance and efficiency in the precision gearbox market. After a long development process, extensive testing of a gearbox fitted with new technology revealed that all components were properly lubricated and, more importantly, that there was no oil leakage. The operating temperature was also found to be significantly lower, indicating up to 14% less power loss. Such factors are having a significant impact on the global precision gearbox market growth.
In addition, precision gearboxes for industrial applications offer top-notch performance. To achieve precise gripping movements, for example, a robotic arm requires extremely small and lightweight components which must also provide a huge transmission rate. These simple gearboxes are distinguished by their precise transmission of motion, zero backlash and high transmission ratio, as well as their lack of wear.
Impact of COVID-19 on the Global Precision Transmission Market
With an increasing number of COVID-19 diseases around the world, the stresses on various developments in the precision gearbox market are increasing. As the global pandemic combats pandemic circumstances, the impact on the global network of exchanges and stores becomes evident from the rapidly weakening global speculation flows. On the other hand, the severe regulations imposed by the administrations of the different nations and the preventive measures to control the impact of the incidence have resulted in a critical limitation of transport, resulting in the global impact on a global scale.
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Some of the main competitors are Nidec-Shimpo, Neugart GmbH, Bonfiglioli Riduttori SPA, Nabtesco, Parker-Hannifin Corporation (Parker Appliance Company), SEW-EURODRIVE GmbH & Co KG, Siemens, Dana Motion Systems Italia Srl (a socio unico), and among others.
The global precision gearbox market is segmented on the basis of product and application. The product is segmented into planetary, harmonic and cycloidal. Further, the application is segmented as military and aerospace, food, beverage and tobacco, machine tools, material handling, packaging, robotics, medical and others.
Precision planetary gearboxes represent the dominant share of the overall market in terms of products. In the field of automation, extremely precise gearboxes are required to ensure the adequate precision required by automatic processes. Planetary gearboxes are one of the most attractive solutions responsible for segmental growth. On the basis of applications, the robotics segment accounts for the majority of revenue growth in the precision gearbox market.
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