Selbyville, DE -- (SBWIRE) -- 10/11/2018 -- Market Study Report adds a new North America Precision Gearbox Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.
North America Precision Gearbox Market size is estimated to surpass USD 556 million by 2024; according to a new research report.
U.S. is expected to capture approximately 90% of the North America precision gearbox market over the forecast timeline. Rising standards of living will stimulate demand for vehicles and other precision gear containing products resulting in escalating sales for both OEM and aftermarket. Well defined stringent regulations in the country for the usage of precision gearboxes will foster the industry demand. These regulations include American National Standards Institute (ANSI) standards for robotic applications. Sustainable production, transportation, and packaging solutions along with growing food & beverage industry will support the country's dominance in the industry.
Nuegart Gmbh, Bonfiglioli Riduttori SPA, WITTENSTEIN SE, and CGI, Inc., are among the prominent players in the industry. Other notable players include Anaheim Automation, Inc, GAM, APEX Dynamics, and Onvio LLC.
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North America precision gearboxes Market are expected to reach around 969 thousand units till 2024. Rising demand of automation across various industries including food & beverage, packaging, and material handling will support the industry growth over the next eight years. Automation in manufacturing industry contributes to the extensive competitiveness and offers immense potential by assuring value creation over excessive labor costs according to the international standards
North America precision gearbox market players are adopting aggressive strategies such as new product launches and geographic expansion to strengthen their foothold in the industry. For instance, in April 2015, WITTENSTEIN redesigned its gearboxes for delivering high performance in all technical disciplines. In August 2016, GAM
expanded its U.S. manufacturing operations and introduced a quick delivery program for couplings and gearboxes.
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Government regulations for increasing the motor efficiency has forced the manufacturers to develop enhanced quality gearboxes. Moreover, provision of sustainable and cost-effective solutions for varied applications including transportation & food industry will contribute significantly for high revenue generation. However, adoption of direct drive mechanism will hamper the growth of North America precision gearbox market till 2024.
Customized gear motors and sets are the emerging technologies that are gaining prominence in the industry. They are used to support machines and for application-specific requirements. To cope up with complex designs, a variety of stronger, smaller, and cost-effective gear drives are manufactured. Modular designs with verified gear setups and acceptable price-to-performance ratio leverage the benefits of standardization.
Table of Content:
Chapter 4 North America Precision Gearbox Market, By Product
4.1 North America precision gearbox market share by product, 2016 & 2024
4.2 Parallel
4.2.1 Market estimates and forecast from parallel, 2013 - 2024, (Thousand Units) (USD Million)
4.2.2 Market estimates and forecast from parallel by country, 2013 - 2024, (Thousand Units) (USD Million)
4.3 Right angle
4.3.1 Market estimates and forecast from right angle, 2013 - 2024, (Thousand Units) (USD Million)
4.3.2 Market estimates and forecast from right angle by country, 2013 - 2024, (Thousand Units) (USD Million)
4.4 Planetary
4.5 Market estimates and forecast from planetary, 2013 - 2024, (Thousand Units) (USD Million)
4.5.1 Market estimates and forecast from planetary by country, 2013 - 2024, (Thousand Units) (USD Million)
Chapter 5 North America Precision Gearbox Market, By Material
5.1 North America precision gearbox market share by material, 2016 & 2024
5.2 Carbon steel
5.2.1 Market estimates and forecast from steel, 2013 - 2024, (Thousand Units) (USD Million)
5.2.2 Market estimates and forecast from steel by country, 2013 - 2024, (Thousand Units) (USD Million)
5.3 Aluminum
5.3.1 Market estimates and forecast from aluminum, 2013 - 2024, (Thousand Units) (USD Million)
5.3.2 Market estimates and forecast from aluminum by country, 2013 - 2024, (Thousand Units) (USD Million)
5.4 Bronze
5.4.1 Market estimates and forecast from bronze, 2013 - 2024, (Thousand Units) (USD Million)
5.4.2 Market estimates and forecast from bronze by country, 2013 - 2024, (Thousand Units) (USD Million)
5.5 Brass
5.5.1 Market estimates and forecast from brass, 2013 - 2024, (Thousand Units) (USD Million)
5.5.2 Market estimates and forecast from brass by country, 2013 - 2024, (Thousand Units) (USD Million)
5.6 Cast iron
5.6.1 Market estimates and forecast from Cast iron, 2013 - 2024, (Thousand Units) (USD Million)
5.6.2 Market estimates and forecast from Cast iron by country, 2013 - 2024, (Thousand Units) (USD Million)
5.7 Plastic
5.7.1 Market estimates and forecast from plastic, 2013 - 2024, (Thousand Units) (USD Million)
5.7.2 Market estimates and forecast from plastic by country, 2013 - 2024, (Thousand Units) (USD Million)
Chapter 6 North America Precision Gearbox Market, By Application
6.1 North America precision gearbox market share by application, 2016 & 2024
6.2 Automotive
6.2.1 Market estimates and forecast for automotive, 2013 - 2024, (Thousand Units) (USD Million)
6.2.2 Market estimates and forecast for automotive, 2013 - 2024, (Thousand Units) (USD Million)
6.2.3 Market estimates and forecast for automotive by country, 2013 - 2024, (Thousand Units) (USD Million)
6.3 Healthcare
6.3.1 Market estimates and forecast for healthcare, 2013 - 2024, (Thousand Units) (USD Million)
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