Top 3 Trends Impacting the Global Engineered Gearbox and Drives Market Through 2021: Technavio

Technavio has published a new report on the global engineered gearbox and drives market from 2017-2021. (Photo: Business Wire)

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LONDON--()--Technavio’s latest market research report on the global engineered gearbox and drives 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.

Bharath Kanniappan, a lead analyst from Technavio, specializing in research on automation sector says, “High demand for engineered and off-the-shelf gearbox and drives is predicted to stem from ongoing and upcoming projects in the food and beverage, oil and gas pipelines, chemical and petrochemical, and pulp and paper industries, where gearbox and drives play a significant role.”

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The top three emerging market trends driving the global engineered gearbox and drives market according to Technavio industrial automation research analysts are:

  • Use of 3D printing for engineered gearbox and drives component manufacture
  • Provision of attractive financing options
  • Growth of equipment rental business

Use of 3D printing for engineered gearbox and drives component manufacture

Additive manufacturing, also known as 3D printing is a rapid and cost-efficient manufacturing process that enables the creation of accurate 3D objects by processing data from a digital file. The level of precision and accuracy achieved by 3D printing is beneficial in building engineered/customized gearbox and drives, which have highly complex designs and requirements. The 3D printing of engineered gearbox and drives eliminates the need for time-consuming processes such as forging, molding, and sculpting. Ultrascale is supplying engineered gearbox and drives to industries such as cement, mining and metal processing, paper and pulp, and automotive.

“Technavio expects the use of 3D printing to augment the production of customized gearbox and drives as per end-user specifications in a more cost-effective manner during the forecast period,” says Bharath.

Sensors in gearbox and drives

The average lifespan of an industrial gearbox and drives is around 30,000 operational hours, which will decline significantly in the presence of ineffective designs, misalignment, vibration, load stress, improper lubrication, and imbalance of speed and torque. Predictive maintenance is an effective strategy to ensure the effective functioning and maximum utility of any device in industrial applications. The introduction of sensors in gearbox and drives will greatly enhance the ability of operators to monitor gearbox and drive components and inform them of impending failure. This facilitates early remedial measures, timely repair, prevents damage, and lowers the overall maintenance expenditure.

Introduction of magneto gearbox and drives

Magnetic principles and components find widespread use in electric motors and non-contact drive couplings. R&D in the industrial applications of magnets may help magnets replace mechanical gears in power transmission systems. The University of Sheffield in the UK has been exploring this avenue for a decade, by creating a spin-off called the Magnomatics company in 2006. The company has successfully created a high-torque magnetic gear that offers reduced maintenance, improved reliability, and eliminates the need for lubricants. Technavio expects that the further growth and expansion of this technology will drive the market from 2018 onwards.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest market research report on the global engineered gearbox and drives market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com