Precision Gearbox Machinery Global Market Report 2024

The global precision gearbox machinery market has grown strongly in recent years. It will grow from $5.22 billion in 2023 to $5.58 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. Historical growth can be attributed to various factors, including the upsurge in the automotive industry, the expansion of robotics and CNC machinery, the growth within the medical equipment sector, the global expansion of industries, and the burgeoning developments in the aerospace sector.

The global precision gearbox machinery market is expected to see strong growth in the next few years. It will grow to $7.23 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. Anticipated growth in the upcoming period is linked to several key factors, notably the global expansion of industries, the increasing adoption of industrial automation, the expanding scope of robotics and Industry 4.0, the demands for miniaturization, and the burgeoning growth within the renewable energy sectors.

The projected growth in the precision gearbox machinery market stems from the increased adoption of robotic devices. These devices, programmed for autonomous task execution, rely on precision gearbox machinery known for its exact transmission of motion, zero-backlash, and high transmission ratios. Notably, according to the International Federation of Robotics in June 2022, global shipments of industrial robots surged significantly in various regions, such as Europe, the US, and Asia in 2021 compared to 2020, indicating the driving force of robotic device utilization in the precision gearbox machinery market.

Another driver of growth in the precision gearbox machinery market is the upward trajectory of the manufacturing industry. Precision gearbox machinery holds a pivotal role in enhancing machinery efficiency and ensuring precise movement and positioning within the manufacturing sector. For example, Eurostat's data in July 2023 indicated incremental growth in industrial output in the European area, further underscoring the vital role of precision gearbox machinery in driving advancements within the manufacturing industry.

Technological advancements stand out as a prominent trend within the precision gearbox machinery market. Key industry players focus on innovating new solutions, such as Sumitomo Drive Technologies' launch of the F4CF-DA series of modular precision gears in January 2021. This series incorporates Fine Cyclo Technology, showcasing increased torque, reduced size, and enhanced performance. Such advancements cater to users' demands for improved efficiency and smaller-sized yet more powerful machinery components.

Major companies within the precision gearbox machinery market are driving innovation by developing products like the planetary gearbox. Wittenstein SE's introduction of the XP+ HIGH TORQUE planetary gearbox in June 2021 exemplifies this trend. This high-performance addition to the XP+ family offers remarkable torque density and torsional rigidity, ideal for dynamic applications requiring precision, high-speed performance, and compactness. This innovative gearbox technology signifies a benchmark in precision, dynamics, and power density, meeting the demanding requirements of various industries.

In March 2022, Schaeffler, a German-based manufacturer specializing in bearings and related components, successfully acquired Melior Motion for an undisclosed sum. This strategic acquisition aligns with Schaeffler's objective to broaden the robotics portfolio within its industrial division. Melior Motion, a Germany-based company specializing in precision gearbox machinery, offers synergistic opportunities for Schaeffler to enhance its presence and capabilities in the precision gearbox market, further strengthening its position in the industrial sector.

Major companies operating in the precision gearbox machinery market report are Reishauer AG, Nidec Corporation, DMG Mori Aktiengesellschaft, DVS Technology Group, EMAG GmbH & Co. KG, Gleason Corporation, Liebherr-International Deutschland GmbH, Matrix Precision CO. LTD., SEW-EURODRIVE GmbH & Co KG, Siemens AG, Harmonic Drive LLC, Stöber Antriebstechnik GmbH and Co KG, Wittenstein SE, GAM Enterprises Inc., Neugart GmbH, Apex Dynamics Inc., Sumitomo Heavy Industries Ltd., Nabtesco Corporation, Wilhelm Vogel GmbH, Onvio LLC, ATLANTA Drive Systems Inc., Transprecision Gears Pvt. Ltd., DieQua Corporation, Cone Drive, Hiwin Corporation, Sureservo, Parker Hannifin Corp., DANOBAT S. Coop, Lagun Engineering, Framo Morat Group

Asia-Pacific was the largest region in the precision gearbox machinery market in 2023. The regions covered in the precision gearbox machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the precision gearbox machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The realm of precision gearbox machinery, several types exist, including planetary gearbox, worm gearbox, helical gearbox, bevel gearbox, spiral bevel gearboxes, and other variants. A planetary gearbox, for instance, aligns the input and output shafts. The manufacturing processes involved often encompass hobbing, grinding, turning, and honing techniques. These gearboxes support multiple shaft orientations such as coaxial, right-angled, and parallel shift, finding application across diverse industries like machine tools, material handling, packaging, robotics, automotive, off-road vehicles, wind towers, agriculture, railways, and marine sectors.

This report provides precision gearbox machinery market statistics, including precision gearbox machinery industry global market size, regional shares, competitors with a precision gearbox machinery market share, detailed precision gearbox machinery market segments, market trends and opportunities, and any further data you may need to thrive in the precision gearbox machinery industry. This precision gearbox machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The precision gearbox machinery market consists of sales of gearmotors or mobility, stepper, flange gearboxes, and other types. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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