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.
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.
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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.
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
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.
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.
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Partial Chapter of the Table of Content
Chapter 4 North America Precision Gearbox Market, By Product
4.1 market share by product, 2016 & 2024
4.2.1 Market estimates and forecast from parallel, 2013 – 2024, (Thousand Units) (USD Million)
4.2.2 Market estimates and forecast from parallel by country, 2013 – 2024, (Thousand Units) (USD Million)
4.3 Right angle
4.3.1 North America precision gearbox market estimates and forecast from right angle, 2013 – 2024, (Thousand Units) (USD Million)
4.3.2 Market estimates and forecast from right angle by country, 2013 – 2024, (Thousand Units) (USD Million)
4.5 Market estimates and forecast from planetary, 2013 – 2024, (Thousand Units) (USD Million)
4.5.1 Market estimates and forecast from planetary by country, 2013 – 2024, (Thousand Units) (USD Million)
Charts & Figures
FIG 1. North America precision gearbox market segmentation
FIG 2. Global precision gearbox market volume and revenue, (Thousand Units) (USD Million), 2013 – 2024
FIG 3. Industry ecosystem analysis
FIG 4. Pricing Analysis, By Product
FIG 5. Growth potential analysis
FIG 6. Porter’s analysis
FIG 7. PESTLE analysis
FIG 8. Market volume share by product, 2016 & 2024
FIG 9. Market volume share by material, 2016 & 2024
FIG 10. Market volume share by application, 2016 & 2024
FIG 11. Market volume share by sales channel, 2016 & 2024
FIG 12. North America precision gearbox market share by country, 2016 & 2024
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