By 2024, Precision gearbox market is expected to witness 6.5% CAGR from robotic applications

Global precision gearbox market from robotic applications will observe a CAGR of 6.5% over the years of 2016-2024. This growth can be primarily credited to the global surge in robotics, coupled with the rising demand for prosthetic joints to achieve precise mobility across the service robotics and manufacturing sectors.

U.S. precision gearbox market from food, beverages, & tobacco applications is expected to chart out a profitable growth graph, as this regional market will concentrate on providing sustainable and cost-effective transportation, packaging, and production solutions. Manufacturers will achieve the highest rate of productivity at reasonable costs, by implementing automation to enable operational efficiency, thereby spurring U.S. precision gearbox market from food, beverage, and tobacco applications.

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The surging demand for automation will also lead to the growth of precision gearbox market from food, beverage, & tobacco applications. With a valuation of USD 170 million in 2015, precision gearbox market from food, beverages, & tobacco applications is anticipated to grow significantly over 2016-2024, subject to the growing consumption of packaged food and the huge requirement for operational efficient machinery in the sector.

Global precision gearbox market is quite fragmented, however the top players have already established a strong brand identity, posing a challenge to fresh players. Companies such as SEW Eurodrive, Siemens, and Brevini are strong participants in this market and they often engage in R&D activities to manufacture products with supremely high precision and accuracy.

Precision gearbox market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:

By Product

  • Parallel
  • Right Angle
  • Planetary

By Application

  • Military & aerospace
  • Food, beverage & tobacco
  • Machine tools
  • materials handling
  • Packaging
  • Robotics
  • Medical

The above information is provided on a regional basis for the following:

  • North America
  • Europe
  • Asia Pacific
  • MEA
  • Latin America

 The industry participants focus on providing unique selling propositions by offering characteristics such as speed reducers with higher torque, high efficiency up to 96%-98% and maintenance-free construction. Some of the competitors are Brevini, SEW Eurodrive and Siemens.

Browse key industry insights spread across 115 pages with 71 market data tables & 57 figures & charts from the report, “Precision Gearbox Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/precision-gearbox-market

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