Selbyville, DE -- (SBWIRE) -- 10/11/2018 -- Precision Gearbox Market size is set to exceed USD 2.5 billion by 2024; as per a new research report.
U.S. F&B and tobacco industry is focused towards competitive pricing along with sustainable production, packaging, and transportation solutions. This operational efficiency can be achieved by adopting automation solutions enabling manufacturers to develop high-quality products at lower costs. Rising automation needs in the U.S. will further support the market over the next eight years. Europe precision gearbox market share was responsible for over 30% of overall 2015 revenue and will grow significantly throughout the forecast timeline.

Some of the competitors are ABB Ltd, Bonfiglioli, Emerson, Rexnord, SEW Eurodrive, Siemens, Brevini Power Transmission, Cone Drive Operations, Curtis Machine Company, David Brown Engineering, Horsburgh & Scott,Oerlikon Graziano Drive Systems.

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Advancements in robotic systems will support precision gearbox market demand owing to its precise positioning. Moreover, increased focus towards reducing overall weight of the robot will increase the hard-plastic components demand used in the business. Customized precision gearboxes are gaining popularity to support the application-specific machine requirements. A variety of strong, compact, and cost-effective gear drives are manufactured to cope with complex designs.

Companies are focusing towards collaboration of human and robots, also known as collaborative robots for simplified applications. Commercialization of co-bots will further support the demand for precision gearbox market over the forecast period.

Planetary segment accounted for more than 70% of 2015 overall industry revenue. These are niche rather than standard products which provide greater volatility in the precision gearbox industry. Parallel precision gearbox market size was over USD 200 million in 2015. The parallel gearboxes use shaft-mounted gear units on parallel axes which are ideal for use in conveyors and other material handling applications.

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Growing automation demand in machine tools, food & beverage processing and tobacco industry, materials handling and packaging applications will support the industry growth. The manufacturing industry is focused towards developing gearboxes of small size and lower weights, thus driving the precision gearbox market.

Table of Content:

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. Industry Insights
Chapter 4. Precision Gearbox Market, By Product
Chapter 5. Precision Gearbox Market, By Application
Chapter 6. Precision Gearbox Market, By Region
Chapter 7. Company Profiles

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