LONDON--(BUSINESS WIRE)--The global industrial rack and pinion market is poised to grow by USD 419.4 million during 2019-2023, progressing at a CAGR of over 6% during the forecast period. Request Free Sample Pages
Read the 114-page research report with TOC on "Industrial Rack and Pinion Market Analysis Report by Application (Machine tools, Linear actuation and guideways, and Material handling), by Geography (APAC, Europe, North America, MEA, and South America), and Segment Forecasts, 2019 - 2023."
The market is driven by the increasing demand for actuators in process industries. In addition, the rising need for stairlifts in offices is anticipated to further boost the growth of the industrial rack and pinion market.
The increasing demand for actuators in process industries will be one of the major drivers in the global industrial rack and pinion market. Achieving high accuracy and optimizing production costs are the prime goals of process industries like power generation, oil and gas, and pharmaceutical companies. These goals are achieved by adopting process automation. Process industries use rotary valves to throttle or plug the flow of fluids or gases in pipelines or ducts, which requires rack and pinion actuators to turn them on/off. Rack and pinion actuators convert linear motion into rotary motion and are generally used to open or close these rotary valves. Moreover, with capacity additions, expansions, and upgradation of projects in the process industries, the demand for actuators and valves will also grow. These factors will boost the global industrial rack and pinion market growth during the forecast period.
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Major Five Industrial Rack and Pinion Market Companies:
Andantex USA Inc.
Andantex USA Inc. offers a range of standard rack and pinion components for linear motion requirements, ultra-high precision, and heavy-duty applications.
ATLANTA Antriebssysteme E. Seidenspinner
ATLANTA Antriebssysteme E. Seidenspinner offers rack and pinion drive systems for precise positioning and repeatability in applications such as traveling gantries and columns, pick and place robots, CNC routers, and material handling systems.
Güdel Group AG
Güdel Group AG provides custom-designed, high-precision rack and pinion systems in all sizes and shapes. Moreover, in April 2018, the company developed GAdjustment, a planetary gearbox with integrated eccentric output flanges, which enables precise gear mesh adjustment for the rack and pinion drivetrain.
HMK Automation Group Ltd
HMK Automation Group Ltd offers helical and straight-toothed racks, pinions, and pinion shafts for machine tools and automation equipment. Moreover, in February 2019, the company entered into a technological partnership with Marden Edwards to design and develop overwrapping machinery solutions.
Nidec Corporation operates the business through the following segments: small precision motors; automotive, appliance, commercial, and industrial products; machinery; electronic and optical components; and others. The company’s key offering in the industrial rack and pinion market includes the VRT Torque+ System.
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Industrial Rack and Pinion Application Outlook (Revenue, USD Million, 2019 - 2023)
- Machine Tools
- Linear Actuation and Guideways
- Material Handling
Industrial Rack and Pinion Regional Outlook (Revenue, USD Million, 2019 - 2023)
- North America
- South America
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