LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global gear cutting machine market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research analysis by Technavio on the global gear cutting machine market for 2017-2021 provides detailed segmentation based on end-user (automotive, oil and gas, and general machinery) and geography (APAC, EMEA, and the Americas).
Technavio analysts estimate the global gear cutting machine market size to reach USD 2,295.9 million by 2021, growing at a CAGR of close to 3% through the forecast period. APAC is the leading market segment, expected to generate the highest revenue and maximum incremental growth through the forecast period.
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The top three emerging trends driving the global gear cutting machine market according to Technavio heavy industry research analysts are:
- Surge in automation
- 3D printing of gears
- Modern alternative casting processes gaining momentum
Surge in automation
“The growing demand for superior-quality products has propelled companies to undertake automation in their manufacturing processes. The growth in automation is focused on areas such as technology, hardware, software, services, and the communication protocols,” says Gaurav Mohindru, one of the lead analysts at Technavio for tools and components research.
The machine tools sector in the developed and developing countries are increasingly adopting numeric control (NC) and computer numeric control (CNC) machines, which not only enhances the quality of the product but also reduces the time and human effort. This ensures benefits such as increased profit margins, production loss control, and enhanced resource allocations and regulations.
3D printing of gears
3D printing, or additive manufacturing, is the process of creating three-dimensional objects layer-by-layer, using a digital file. 3D printing enables the production of complex geometries that cannot be manufactured using traditional techniques. Even though the initial costs of 3D printers are high, they enable significant reduction of capital costs, raw material costs, and costs to reclaim scrap. Further improvements in the 3D printing technology will result in its increased adoption, thereby leading to the growth of the gear cutting machine market.
Modern alternative casting processes gaining momentum
Traditional high-pressure die casting (HPDC) process is very violent and turbulent, and possibilities of air bubble entrapment are very high. These air pockets can significantly alter the strength of the final product, which will not meet the standards set for the products.
“Currently, manufacturers are trying out advanced and new casting methods to produce high quality and strong products. These products do not contain any air pockets, and clear all the product design and strength, therefore driving for its increased adoption,” says Gaurav.
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