Dublin, April 09, 2024 (GLOBE NEWSWIRE) -- The "Global Precision Gearbox Market Size, Share & Trends Analysis Report by Product (Planetary, Harmonic, Cycloid), Application (Robotics, Military & Aerospace, Materials Handling, Packaging), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global precision gearbox market size is expected to reach USD 5.72 billion by 2030. The market is anticipated to expand at a CAGR of 9.9% from 2024 to 2030. Increasing implementation of automation technology throughout the production process is likely to propel the demand for the installation of robots and is anticipated to drive the growth of the market. 
The presence of a large number of raw material suppliers, providing multiple options to product manufacturers is projected to result in low bargaining power. In addition, the low switching cost for manufacturers is expected to decrease the bargaining power of suppliers. Hence, the bargaining power of suppliers is low to medium.
The increasing product demand in the medical industry is anticipated to benefit the market growth. In addition, the outbreak of the coronavirus pandemic across the globe has promoted the demand for medical equipment, which is anticipated to further benefit the growth of the market for precision gearbox in the forthcoming years.
The market is characterized by the presence of established players with a strong financial base, as a result, the entry barriers are high. In addition, the manufacturers are heavily investing in the development of application-specific precision gearboxes, which further provides a competitive edge to the manufacturers. Thus, the threat of new entrants is expected to be low.
Precision Gearbox Market Report Highlights
- Harmonic precision gearboxes are expected to witness the fastest CAGR over the forecast period, on account of their broad application scope including rotary tables, positioning systems, industrial robots, and cutting machines across various industries
- Military and aerospace application is expected to reach USD 728.7 million by 2030, owing to high investments by governments across several countries toward the adoption of advanced and dependable equipment in the defense sector, such as electro-optical targeting systems, gimbal systems, periscope systems, and smart munitions
- The market in North America accounted for a significant revenue share of the global market in 2023, owing to investments by several companies in the adoption of advanced material handling equipment in steel, power generation, and cement industries
- The growth of the market in China is expected to be driven by the adoption of advanced robotic systems in the warehousing as per the trend of zero-labor warehousing
- The market is competitive owing to the presence of several multinational players that are primarily consolidated in Europe and North America, whereas, the Asia Pacific exhibits a limited presence of the established players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 108 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $2.97 Billion |
| Forecasted Market Value (USD) by 2030 | $5.72 Billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Precision Gearbox Market: Methodology and Scope
Chapter 2. Precision Gearbox Market: Executive Summary
Chapter 3. Precision Gearbox Market: Variables, Trends, and Scope
3.1. Penetration & Growth Prospect Mapping
3.2. Industry Value Chain Analysis
3.3. Regulatory Framework
3.4. Market Dynamics
3.5. Business Environmental Tools Analysis: Precision Gearbox Market
Chapter 4 Precision Gearbox Market: Product Estimates & Trend Analysis
4.1 Product Movement Analysis, 2023 & 2030
4.2 Planetary
4.3 Cycloidal
4.4 Harmonic
Chapter 5 Precision Gearbox Market: Application Estimates & Trend Analysis
5.1 Precision Gearbox market: Application movement analysis, 2023 & 2030
5.2 Military & Aerospace
5.2.1 Precision gearbox market estimates and forecasts, for military & aerospace, 2018 - 2030 (USD Million)
5.3 Food & Beverage, and Tobacco
5.4 Machine Tools
5.5 Materials Handling
5.6 Packaging
5.7 Robotics
5.8 Medical
5.9 Others
Chapter 6 Precision Gearbox Market: Regional Estimates & Trend Analysis
6.1 Regional Movement Analysis & Market Share, 2023 & 2030
6.2 Precision Gearbox Market: Regional Movement Analysis, 2023 & 2030
Chapter 7 Competitive Landscape
7.1 Recent Development in the Market
7.2 Company Categorization
7.3 Competitive Market Positioning
7.4 Heat Map Analysis
7.5 Strategy Framework
7.6 Company Profiles
- Harmonic Drive
- Nidec-Shimpo
- Stober Antriebstechnik
- Wittenstein
- Gam Enterprises
- Diequa
- Neugart
- Apex Dynamics
- Sumitomo Drive Technologies
- Nabtesco
- Cone Drive
- Hiwin
- Wilhelm Vogel
- Sureservo
- Sew-Eurodrive
- Onvio
- Parker Hannifin
- Atlanta Drive Systems
- Framo Morat
- Gudel Group
- SWG Solutions
- Bonfiglioli Riduttori
- EGT Eppinger Getriebe Technologie
- ABB Motors And Mechanical Inc.
- Ondrives
- Designatronics
- Genesis Robotics
- Motus Labs
- Georgii Kobold
- IGUS
For more information about this report visit https://www.researchandmarkets.com/r/h7id5a
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