Global Market Insights, Inc. has launched a report on Precision Gearbox Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
The rising need for automation in the manufacturing and industrial sectors will heavily influence the growth of precision gearbox market, which held a valuation of USD 1.85 billion in 2015. These gearboxes are basically speed reducers with a compact design, high load capacity, and higher torque. They are designed to run smoothly with minimal maintenance, owing to which they are extremely suitable to be used for bottling, precise product positioning, assembly lines, packaging, and controlling conveyor belts, thereby stimulating precision gearbox industry.
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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. The surging demand for automation will also lead to the growth of precision gearbox industry from food, beverage, & tobacco applications. With a valuation of USD 170 million in 2015
The extensive growth of the manufacturing and robotics sector in China will also contribute to China precision gearbox industry earning a significant revenue. China’s contribution toward global manufacturing industry was around 25% in 2016. This is a marked improvement from the 7% contribution that the country made in the year 2000. With a valuation of USD 270 million in 2015, China precision gearbox market is slated to observe a high growth rate over 2016-2024. The Chinese government is also introducing initiatives to help companies automate most of their processes, which will spur the regional precision gearbox industry.
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:
- Right Angle
- Military & aerospace
- Food, beverage & tobacco
- Machine tools
- materials handling
The above information is provided on a regional basis for the following:
- North America
- Asia Pacific
- Latin America
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
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.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.