Precision Gearbox Machinery Market Size - By Manufacturing Process (Hobbing, Grinding, Turning, Honing), By Product (Planetary, Right Angle, Parallel), Application COVID-19 Impact Analysis & Forecast, 2022 - 2028

Precision Gearbox Machinery Market Size

Precision Gearbox Machinery Market size crossed USD 5 billion in 2021 and is projected to expand at 6% CAGR from 2022 to 2028.
 

Technological advancements in the manufacturing sector to improve energy efficiency, accuracy, and reliability in operations is likely to fuel the industry growth. With the Industry 4.0, many companies are focusing on automating the assembly line with the help of robotics. These robots use precision gearboxes for accurate picking and placing of the objects with high torque & low noise features. The market players offer precision gearboxes that enable maintenance-free construction, high load capacity, and compact design robots.
 

Rising demand for automating the manufacturing process to improve production and reduce faults & delays in the processes will surge the demand for precision gearbox machinery. Customized precision gearboxes machinery is gaining traction in the market to support application-specific requirements. According to the 2021 World Robot Report, the employment of industrial robots in industries throughout the world is rapidly increasing with 126 robots for every 10,000 employees.
 

The COVID-19 pandemic had a major impact on the precision gearbox machinery market in the first half of 2020 due to the temporary shutdown of manufacturing plants during the lockdown period. The market observed a surge in product sales during the second half of 2020, led by the digitization of manufacturing processes in various sectors. This has significantly accelerated the demand for precision gearbox machinery that helps to design transmission systems used in vehicles. Rapid expansion in the automobile sector owing to the increasing demand for electric vehicles has enhanced the market revenue.
 

Precision Gearbox Machinery Market Analysis

India precision gearbox grinding machinery market is set to witness 9% gains through 2028 impelled by the rising agriculture sector. According to the India Brand Equity Foundation (IBEF), the agriculture sector is valued at USD 370 billion. GDP contribution by this sector was estimated to be about 20% in 2020 - 2021, increasing from 17.8% recorded in 2019 - 2020.
 

Farm equipment manufacturers use precision gearbox machinery to design gearboxes for advanced tractors, harvesters & robots that increase productivity and lower production costs. The precision gearbox machinery available in the market is outfitted with a dresser, counter support, integrated measuring device, balancing unit, and software.
 

The U.S. planetary precision gearbox machinery market is poised to register growth rate of around 6% up to 2028 driven by the surge in demand for advanced packaging equipment used in pharmaceutical manufacturing. Industry participants offer planetary gearboxes for pharmaceutical packaging equipment to carry optimum load capacity, high coefficient efficiency, a wide interval of the transmission ratio, and compact design. The presence of global pharmaceutical companies including AbbVie Inc., Johnson & Johnson, Merck & Co., and Pfizer will augment the demand for planetary gearboxes in the country.
 

Rising usage of low-noise and high-torque gearboxes for advanced machine tools will spur the precision gearbox machinery market share. The manufacturing industry is adopting automated machine tools to enhance productivity, save time, and eliminate human errors. The government administrations are launching projects that aim to introduce digital technologies in manufacturing plants. For instance, in September 2020, the UK government invested USD 181 million in the second phase of Manufacturing Made Smarter, a project designed to encourage innovation.
 

Companies are offering precision gearboxes that are compact and generate a high-torque density required by the CAD/CAM CNC machines. The gears developed through precision gearbox machinery have high torsional resistance and optimal reduction ratios, resulting in increased machine tools efficiency.
 

The Asia Pacific precision gearbox machinery market size accounted for nearly 40% of the revenue share in 2021. Various government administrations in the region are planning to increase their investments to efficiently procure equipment and materials that are needed for various military & defense operations. For instance, in December 2021, the Government of Japan approved a USD 47.2 billion defense budget for FY2022 to enhance the forces’ strength by upgrading the existing infrastructure and equipment. The key participants are also designing advanced precision gearboxes used in such vehicles to carry out border patrol, battlefield operations, light strike missions, and reconnaissance.
 

Precision Gearbox Machinery Market Share

The industry leaders are focusing on investing in R&D activities to introduce new precision gearbox machinery and enhance their product offerings. Precision gearbox machinery manufacturers are focused on offering tailored products and services for different industry verticals including robotics, packaging, automobile, and material handling, among others.
 

Some of the key precision gearbox machinery market players include

• DANOBAT S. Coop
• DMG MORI AKTIENGESELLSCHAFT
• DVS Technology Group
• EMAG GmbH & Co. KG
• Gleason Corporation
• Lagun Engineering
• Liebherr-International Deutschland GmbH
• Matrix Precision Co., Ltd.
• Nidec Corporation
• Reishauer AG
• Samputensili Cutting Tools S.r.l.
• J.G. WEISSER SÖHNE GmbH & Co. KG
• Starrag Group Holding AG

This market research report on precision gearbox machinery includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:

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Market, By Manufacturing Process

• Hobbing
• Grinding
• Turning
• Honing

Market, By Product

• Planetary
• Right Angle
• Parallel

Market, By Application

• Machine Tools
• Material Handling
• Packaging
• Robotics
• Automobile
• Off-Road Vehicles
• Wind Towers
• Agriculture
• Railways
• Marine

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • GCC
  • South Africa