Mr Accuracyreports has published a new research report titled “
Global Gear Technology Market By Technology(gear technology, cylindrical gear technology, Precision technology, and Drive Technology), By Geographic Scope And Forecast
” in its research database. Get a Free Sample PDF of this Research Report for more Insights with Table of Content, Research Methodology, and Graphs –
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The primary purpose of this market research is to understand customer needs, preferences, and behaviors. By analyzing this data, businesses can develop effective marketing strategies, improve products or services, and enhance customer satisfaction. Additionally, current market research 2024 helps identify market trends, assess the competitive landscape, and evaluate the potential for new products or services. Browse Complete Report Here-
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Gear Technology Market Size And Forecast
Gear Technology Market size was valued at USD 128.81 Billion in 2024 and is projected to reach USD 205.11 Billion by 2031, growing at a CAGR of 5.9% from 2024 to 2031.
The factor driving the Gear Technology Market are rising automotive production, ongoing economic growth of developing countries, increased need for manufacturing output. The Global Gear Technology Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
What is Gear Technology?
Gear technology is a mechanism used for the manufacturing of gears element. In the gear technology, manufacturing and measuring of gears during the production is a very important task. Manufacturing technology plays a key role in producing gear with precise, defined chamfers which is often the main requirement. Reproducing method and generating method are two of the important gear manufacturing techniques. While, gear measurement can be accomplished in three ways namely, teeth concentricity, good alignment, and gear hardness. Gear measuring machines can be further segmented into three major types including less than 650 mm, 650-4500 mm and more than 1500 mm. Each machine is focused on enhancing the gear structure in accordance with the final requisites.
Gears have three main functions. Firstly, to increase the speed, secondly to increase the force and thirdly, to change the direction by applying force in the opposite direction. Many industries employ gear in their machinery. The end-user industries include agriculture, automation, aviation, metal & mining, wind power generation, and many others. These gears offer many advantages such as the lifting of higher loads, for the reduction in speed, the transmission of torque, motion can be transmitted between non-parallel intersecting shafts, compact gear systems, and many others.
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Global Gear Technology Market Overview
The factor driving the Gear Technology Market are rising automotive production, ongoing economic growth of developing countries, increased need for manufacturing output. A shift in energy-efficient units such as seven and eight-speed automatic transmissions and fast-growing markets like wind and solar energy also funds the growth to global gear sales. Gears play an important role in minimizing production times to ensure competitiveness.
As the global automotive industry continues to grow, the demand for automated production is also expanding in order to control quality and production costs. As a result of this increased automation, many automotive manufacturers employ gear technology in different automotive manufacturing processes. The automotive industry is highly dependent on gearbox installed in different automobiles such as bikes, cars, trucks, and others. Gearbox, also known as the transmission system in an automobile is a machine that uses multiple gears, shafts and actuating parts for transmitting power from the engine to the wheel. The growing production of automobiles has boosted the demand for gears.
Continuing industrialization efforts and increasing personal income levels and demand in developing parts of Asia and Europe will beat product sales and other gear-containing durable goods, advancing both original equipment manufacturing and aftermarket gear sales. Rapid growth and widespread acceptance of the wind power industry are an opportunity for the market, as gear science and manufacturing technology play a key role in wind power technologies. Increasing demand and advances in gears for engines has demanded a number of new capabilities and technologies.
Increasing prices of raw materials used in gears manufacturing, costly gear manufacturing methods, and others are expected to hamper the growth of the global gear technology market during the forecast period.
Global Gear Technology Market: Segmentation Analysis
The Global Gear Technology Market is segmented on the basis of Technology and Geography.
Gear Technology Market, By Technology
- Bevel Gear Technology
- Cylindrical Gear Technology
- Precision Technology
- Drive Technology
To Understand Market Growth By Technology,
On the basis of technology, the market is bifurcated into bevel gear technology, cylindrical gear technology, precision technology, and drive technology. The market for cylindrical gear technology segments in the Gear Technology Market accounted for the largest market share and is expected to grow with the highest CAGR over the forecast period. Cylindrical gear technology is used to obtain cylindrical gears with good qualities and high load capacity. The machines for the production of cylindrical gear are designed to work together as a family, enabling pre-machining and finishing of even the most complex gears.
Gear Technology Market By Geography
- North America
- Europe
- Asia Pacific
- RoW
On the basis of geography, the market is bifurcated into North America, Europe, Asia Pacific, and RoW. Asia Pacific accounted for the largest market share in 2018 and is expected to grow at 6.4% CAGR during the forecast period. A shift toward automation and demand for high productive machines are major trends to impact the growth of the gear technology market in this region.
Key Players in Gear Technology Market
The “Global Gear Technology Market” study report offers a valuable insight with an emphasis on global market including some of the major players such as Some of the major companies Klingelnberg, Gleason, Kapp Niles, Reishauer, Liebherr, Bourn & Koch, Inc., Mazak Corporation, Involute Gear Machine, and Star Cutter Company.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments in Gear Technology Market
Company Name |
Key Development |
Description |
|---|---|---|
| Klingelnberg | Product Launch | In July 2019, the company launched a new gearing product VIPER 500 MFM. The product will bring new impetus to the robot and aerospace industry and is specifically designed for complete cycloidal disk. |
| Gleason Corporation | Expansion | In July 2019, the company expanded its development and production center in Munich. The expansion adds 30% to office areas and increases manufacturing capacity by almost 70%, including the redesigned machining area for prototype manufacturing, gear manufacturing services, as well as research and development work. |
| Yamazaki Mazak Corporation | New Distributor | In January 2019, the company announced a New Distributor, Knox Machinery for Southern Ohio. The addition of Knox Machinery’s to Mazak’s continent will help to span network of distributors to the highest level of service in Cincinnati, Dayton and across southern Ohio. |
Gear Technology Market Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period |
2021-2031 |
| Base Year |
2024 |
| Forecast Period |
2024-2031 |
| Historical Period |
2021-2023 |
| Unit |
Value (USD Billion) |
| Key Companies Profiled |
Klingelnberg, Gleason, Kapp Niles, Reishauer, Liebherr, Bourn & Koch, Inc., Mazak Corporation, Involute Gear Machine, and Star Cutter Company. |
| Segments Covered |
|
| Customization scope |
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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