LONDON--(BUSINESS WIRE)--Please replace the release dated February 27, 2018 with the following corrected version due to multiple revisions.
The corrected release reads:
GLOBAL INDUSTRIAL PLANETARY GEARBOX MARKET 2018-2022 | RESURGE IN OIL AND GAS UPSTREAM ACTIVITIES TO BOOST GROWTH | TECHNAVIO
Technavio’s global industrial planetary gearbox market research report forecasts the market to grow at a CAGR of over 5% during the forecast period, 2018-2022.
The increasing demand for high precision gearbox technology is one of the major trends in the global industrial planetary gearbox market. The planetary gearboxes can endure high reaction ratios in a compact solution and hence, present an attractive solution for high precision gearboxes. The planetary gearboxes have substantially low backlash ratings and the helical planetary gearboxes provide an excellent choice for applications requiring high accuracy and reliability.
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According to Technavio analysts, one of the key drivers for the global industrial planetary gearbox market is the resurge in oil and gas upstream activities:
Global industrial planetary gearbox market: Resurge in oil and gas upstream activities
The oil and gas industry is a major end-user of planetary gearboxes. They are used in pumps, compressors, fans, blowers, and expands for a wide range of applications including exploration and production in upstream and refining and petrochemicals production in downstream. The prices of crude oil have been fluctuating since 2014 and the price per barrel declined to USD 47.76 in January 2015. In 2017, the price of crude oil increased gradually due to measures taken by the Organization for the Petroleum Exporting Countries and Russia.
According to a senior analyst at Technavio for research on automation, “Several oil and gas upstream projects that were postponed in 2015 and 2016 have been revived in 2017 due to the increasing price of crude oil. This has led to an increase in upstream investments in 2017. The price per barrel of crude oil is expected to reach USD 80 by the beginning of the second half of 2018. Hence, the growing investments in the upstream sector will provide a new source of revenue for planetary gearboxes during the forecast period.”
Global industrial planetary gearbox market: Segmentation analysis
The global industrial planetary gearbox market analysis report provides market segmentation by product type (standard industrial planetary gearboxes and precision industrial planetary gearboxes), by end-user (process industry and discrete industry), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the process industry segment held the largest industrial planetary gearbox market share in 2017, contributing to around 75% of the market. This end-user segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 45% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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