Sales Scenario of North America Precision Gearbox Market to Stay Positive Through 2020-2026
Category: #business  By Rahul Varpe  Date: 2021-03-31
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Sales Scenario of North America Precision Gearbox Market to Stay Positive Through 2020-2026

The North America precision gearbox market is poised for robust growth on the back of increasing demand for automation to enhance productivity, energy efficiency, and reduce labor costs. Precision gearboxes are extensively used across numerous industries including packaging, food & beverage, and material handling for automation purposes. Government agencies in the region are introducing new regulations related to motor efficiency. This has encouraged manufacturers to develop improved quality gearboxes.  

In addition, precision gearboxes also offer smooth running, higher torque, maintenance-free construction, high load capacity, and compact design, which further increase its usage in automotive applications requiring precision movements for its operations. In fact, studies suggest that the automotive application segment will record 33% of the total revenue share. On this note, it is expected that the North America precision gearbox will record lucrative growth over the forecast period.

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A study conducted at Global Market Insights Inc., suggests that the North America precision gearbox market is anticipated to exceed USD 556 million by 2024. 

Increasing demand for planetary gearboxes 

The North America precision gearbox market is gaining traction from the planetary gearbox segment. The product has gained significant prominence in recent years due to better heat dissipation and high efficiency. The product’s long service range and accurate shaft alignment make it a viable choice for the alignment of the applications. On this note, studies suggest that the planetary gearbox segment is expected to garner USD 480 million in revenue over the forecast timeframe.

Meanwhile, the parallel gearbox segment is expected to record a 4% CAGR over the forecast period owing to their compact design and less space consumption. Parallel shaft gears deliver optimum reliability and lower MTTR and are preferred for ease of maintenance and minimum components. 

Increasing demand across the US 

On the regional front, the U.S is expected to record around 90% of the North America precision gearbox market share over the forecast period. Government authorities are introducing stringent regulations in the nation for the usage of precision gearboxes. These regulations include ANSI (American National Standards Institute) standards for robotic applications. This has led to an increase in the sales of precision gear box in the nation. Besides, increasing demand for transportation, sustainable production, and packaging solutions coupled with the expanding food & beverage industry will further support the nation’s dominance in the industry

The strong presence of industry participants

Notably, Onvio LLC, APEX Dynamics, Anaheim Automation Inc, GAM, CGI Inc., WITTENSTEIN SE, Bonfiglioli Riduttori SPA, and Nuegart Gmbh are major companies manufacturing precision gearboxes in the region. These companies are leveraging organic and inorganic growth strategies like new product launches, geographic expansion to tap major market share.

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Citing an instance to highlight the same, in April 2015, WITTENSTEIN redesigned its precision gearboxes to deliver better performance in all technical disciplines. In August 2016, GAM strengthened its American manufacturing operations and launched a quick delivery program for gearboxes and couplings. Aided by initiatives like the aforementioned, it comes as no surprise that the North America Precision Gearbox Market will record significant growth over the ensuing years.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1   Methodology

1.1.1   Initial data exploration

1.1.2   Statistical model and forecast

1.1.3   Industry Insights and validation

1.1.4   Scope, definitions, & forecast parameters

1.1.4.1   Definitions

1.1.4.2   Precision Gearbox Production Methodology

1.1.4.3   Industrial Robots Assumptions

1.1.4.4   Market Engineering

1.1.4.5   Key information gained from primary sources

1.1.4.6   Forecast and parameters

1.2   Data Sources

1.2.1   Secondary

1.2.2   Primary

Chapter 2   North America Precision Gearbox Market Summary

2.1   North America precision gearbox industry 3600 synopsis, 2013 – 2024

2.1.1   Business trends

2.1.2   Product trends

2.1.3   Material trends

2.1.4   Application trends

2.1.5   Sales channel trends

2.1.6   Country trends

Chapter 3   North America Precision Gearbox Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2013 – 2024

3.3   Industry ecosystem analysis

3.3.1   Raw material suppliers

3.3.2   Manufacturers

3.3.3   Profit margin trends

3.3.4   Distribution channel analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/north-america-precision-gearbox-market

About Author

Rahul Varpe    

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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