Global precision gearbox market segmentation by end-user and geography
Technavio’s report on the global precision gearbox market analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by end-users, which include machine tools and industrial robotics, packaging machinery, food and beverage processing machinery, and automated material handling. Machine tools and industrial robotics contributed close to 41% of the market share in 2016. This is due to the advent of industrial automation which has led to an increased need for machinery and robot manufacturers to incorporate parts that offer greater precision and flexibility.
Based on geography, the global precision gearbox market has been segmented into three key regions which are EMEA, APAC and the Americas. Europe is the biggest market for precision gearboxes. Moreover, the gradual adoption of these gearboxes in the Middle Eastern and African countries has helped EMEA become the largest shareholder in the market by geography.
“The growth of the machine tools market in Europe is attributed to the growth of the automotive and electronics sectors in the region. Italy and Germany produce and use most of the machine tools in Europe. The automotive industry is the largest contributor to the growth of the market in Germany and Italy. The EU is one of the frontrunners in terms of incorporation of automation in the manufacturing sector,” says Gaurav Mohindru, a lead analyst at Technavio for tools and components research.
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Precision gearbox market: competitive vendor landscape
The global precision gearbox market is moderately concentrated with both regional as well as international vendors operating within the market. The market is dominated by global vendors like BONFIGLIOLI RIDUTTORI, Dana Brevini Power - Transmission, Güdel Group, SEW-EURODRIVE, and Siemens. These vendors have a significant geographical presence with many manufacturing facilities. Vendors are also focusing on the development and introduction of innovative products in the market.
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Other topics covered in the report:
- Increase in automation
- Rising demand for reliable and efficient CNC machines
- Increasing adoption of direct drive machinery
- Growing second-hand machine market
- 3D printing of gears
- Government initiatives
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