Precision Gearbox Machinery Market Analysis

Precision Gearbox Machinery Market Analysis

India precision gearbox grinding machinery market is set to witness 9% gains through 2028 impelled by the rising agriculture sector. According to the India Brand Equity Foundation (IBEF), the agriculture sector is valued at USD 370 billion. GDP contribution by this sector was estimated to be about 20% in 2020 - 2021, increasing from 17.8% recorded in 2019 - 2020.
 

Farm equipment manufacturers use precision gearbox machinery to design gearboxes for advanced tractors, harvesters & robots that increase productivity and lower production costs. The precision gearbox machinery available in the market is outfitted with a dresser, counter support, integrated measuring device, balancing unit, and software.
 

The U.S. planetary precision gearbox machinery market is poised to register growth rate of around 6% up to 2028 driven by the surge in demand for advanced packaging equipment used in pharmaceutical manufacturing. Industry participants offer planetary gearboxes for pharmaceutical packaging equipment to carry optimum load capacity, high coefficient efficiency, a wide interval of the transmission ratio, and compact design. The presence of global pharmaceutical companies including AbbVie Inc., Johnson & Johnson, Merck & Co., and Pfizer will augment the demand for planetary gearboxes in the country.
 

Rising usage of low-noise and high-torque gearboxes for advanced machine tools will spur the precision gearbox machinery market share. The manufacturing industry is adopting automated machine tools to enhance productivity, save time, and eliminate human errors. The government administrations are launching projects that aim to introduce digital technologies in manufacturing plants. For instance, in September 2020, the UK government invested USD 181 million in the second phase of Manufacturing Made Smarter, a project designed to encourage innovation.
 

Companies are offering precision gearboxes that are compact and generate a high-torque density required by the CAD/CAM CNC machines. The gears developed through precision gearbox machinery have high torsional resistance and optimal reduction ratios, resulting in increased machine tools efficiency.
 

The Asia Pacific precision gearbox machinery market size accounted for nearly 40% of the revenue share in 2021. Various government administrations in the region are planning to increase their investments to efficiently procure equipment and materials that are needed for various military & defense operations. For instance, in December 2021, the Government of Japan approved a USD 47.2 billion defense budget for FY2022 to enhance the forces’ strength by upgrading the existing infrastructure and equipment. The key participants are also designing advanced precision gearboxes used in such vehicles to carry out border patrol, battlefield operations, light strike missions, and reconnaissance.