Precision Gearbox Market Size

Precision Gearbox Market Size

Precision Gearbox Market size exceeded USD 1 billion in 2020 and is projected to grow at a CAGR of 5.4% from 2021 to 2027. Technological advancements in upward automation across manufacturing industries to improve operational efficiency & reliability in production and reduce delays & faults in the process will propel its usage in various applications including bottling, assembly lines, packaging, etc. Furthermore, a smooth operation, higher torque & load capacity, maintenance-free construction, and compact design will increase product penetration in robotics and medical-based applications, which require high precision movements for their operations.

The availability of several substitutes including speed reducers and direct drive systems may hamper the precision gearbox industry growth. Products including direct drive systems reduce gears usage which minimizes the product weight and system complexity. It further increases efficiency with minimum energy losses. Moreover, a shifting inclination from coil-driven products towards magnet-driven gearbox has decreased product cost over recent years, which may also restrain product demand. Nevertheless, increasing product penetration in medical applications will foresee strong growth through 2027.
 

The regulations concerned with the industry mainly focus on temperature rise and coolant temperature of gearboxes during the operation. The U.S. has defined regulations regarding the use of precision gearbox in ANSI standards for robotic applications. Similarly, in Europe, the CE mark on gearbox entitles their free circulation in European Economic Boundary.
 

The buying trend is influenced by the increasing demand for automation in manufacturing facilities. The gearbox manufacturer can cater to such demand owing to the introduction of 3D modeling that design small component gearbox. The raw materials used in the gearbox are helical parallel shaft gears and bevel helical gears for current industry standards. The geometry of these components can be adjusted to provide varied strength and efficiency for reduced noise and vibration during the operation.