Precision Gearbox Market Share, Growth Rate And Product Revenue 2030

Precision Gearbox Industry Overview

The global precision gearbox market size was estimated at USD 2.5 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 9.6% from 2022 to 2030.

Rising awareness about the product benefits across various industries including, military & aerospace, machine tools, material handling, robotics, and medical, is expected to drive the market growth. The market witnessed a steep decline in growth, owing to the lack of demand from the industrial sector. The government imposed restrictions caused a temporary closure across a wide range of industries, which resulted in a lack of new installations and maintenance and repair of existing automation systems, thereby limiting the product demand.

In addition, a large number of manufacturers suffered huge financial losses due to the pandemic, leading to a number of manufacturers opting to postpone the installation of new automation systems. However, the industry witnessed a significant rise in product demand from the medical sector, which benefitted the growth of the market during the forecast period.

Gather more insights about the market drivers, restrains and growth of the Global Precision Gearbox Market

China precision gearbox market size, by product, 2020 - 2030 (USD Billion)

The market in China is expected to be driven by an increase in the adoption of several advanced material handling equipment such as wagon tipplers, belt conveyor systems, and bucket elevators for easy movement and handling and materials, in the cement industry. In addition, the adoption of advanced robotic systems in warehousing as per the trend of zero-labor warehousing in China is expected to benefit the growth of the market.

Direct-drive actuators are likely to pose a threat of substitution owing to their benefits such as low maintenance, minimized cost, and compact design. However, a lack of precision in movements is likely to restrict its demand across the application industries. This is projected to keep the threat of substitution low.

Product manufacturers are forward integrated and engaged in the distribution and supply of manufactured goods. This allows the manufacturers to gain a higher market share and build a stronger market position. In addition, the manufacturers prefer a consultative approach to provide optimum solutions and meet the exact consumer requirements.

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Market Share Insights

  • August 2021: Parker Hannifin Corporation (NYSE: PH, “Parker”), the global leader in motion and control technologies, today confirms that the European Commission (“EC”) has cleared the acquisition of Meggitt PLC (“Meggitt”), conditional on full compliance with commitments offered by Parker.

Key Companies profiled:

Some of the prominent players in the precision gearbox market include:

  • Harmonic Drive LLC
  • NIDEC-SHIMPO CORPORATION
  • Stöber Antriebstechnik GmbH and Co. KG
  • WITTENSTEIN SE
  • GAM ENTERPRISES, INC.
  • DieQua Corporation
  • Neugart GmbH
  • Apex Dynamics, Inc.
  • Sumitomo Drive Technologies
  • Nabtesco Corporation
  • Cone Drive
  • Hiwin Corporation
  • Wilhelm Vogel GmbH
  • Sureservo
  • SEW-EURODRIVE GmbH & Co KG
  • Onvio LLC
  • PARKER HANNIFIN CORP
  • ATLANTA Drive Systems, Inc.
  • Framo Morat
  • Güdel Group AG
  • SWG Solutions
  • Bonfiglioli Riduttori S.p.A.
  • EGT Eppinger Getriebe Technologie GmbH
  • ABB Motors and Mechanical Inc.
  • Ondrives Ltd.
  • Designatronics Inc.
  • Genesis Robotics
  • Motus Labs
  • GEORGII KOBOLD GmbH & Co. KG
  • igus GmbH

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