NA Precision Gearbox Market worth over USD 556 million by 2024

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North America Precision Gearbox Market Price,
Trends, Industry Outlook Forecast 2017-2024
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Key Insights from NA Precision Gearbox Market

• North America precision gearboxes are expected to
  reach around 969 thousand units till 2024. Rising
  demand of automation across various industries
  including food beverage, packaging, and
  material handling will support the industry
  growth over the next eight years. Automation in
  manufacturing industry contributes to the
  extensive competitiveness and offers immense
  potential by assuring value creation over
  excessive labor costs according to the
  international standards.
• Moreover, provision of sustainable and
  cost-effective solutions for varied applications
  including transportation food industry will
  contribute significantly for high revenue
  generation. However, adoption of direct drive
  mechanism will hamper the growth of North America
  precision gearbox market till 2024.
• Customized gear motors and sets are the emerging
  technologies that are gaining prominence in the
  industry. They are used to support machines and
  for application-specific requirements. To cope up
  with complex designs, a variety of stronger,
  smaller, and cost-effective gear drives are
  manufactured.

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Continued...

• For upgrading the automation of existing
  facilities, manufacturers provide a wide
  combination range of gears, their configuration
  types, and reduction ratios. For small quantity
  gearboxes, 3D modeling assists in designing
  models, which can be taken into machine tools for
  post-processing work.
• Planetary gearboxes are anticipated to account
  for approximately USD 480 million over the
  forecast timeframe. Products designed for long
  service range and accurate shaft alignment are
  highly preferred by industry players suitable for
  the alignment of the applications. Better heat
  dissipation along with high-efficiency
  arrangement will boost the product penetration
  till 2024.
• Automotive application is anticipated to generate
  over 333 thousand units of precision gearboxes
  and will account for over 33 revenue share over
  the coming years. It can be attributed to high
  usage of gearboxes in application requiring
  superior torque along with speed reduction.
  Shifting consumer preference towards the products
  with enhanced comfort and simplified operations
  will induce immense potential to the North
  America precision gearbox market size till 2024.

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U.S. Precision Gearbox Market, By Product, 2016
2024, (USD Million)

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Major Companies in NA Precision Gearbox Market

• Nuegart Gmbh
• Bonfiglioli Riduttori SPA
• WITTENSTEIN SE
• CGI
• Anaheim Automation
• GAM
• APEX Dynamics
• Onvio LLC

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Industry Coverage

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Regional Insights in NA Precision Gearbox Market

• U.S. is expected to capture approximately 90 of
  the North America precision gearbox market over
  the forecast timeline. Rising standards of living
  will stimulate demand for vehicles and other
  precision gear containing products resulting in
  escalating sales for both OEM and aftermarket.
  Well defined stringent regulations in the country
  for the usage of precision gearboxes will foster
  the industry demand. These regulations include
  American National Standards Institute (ANSI)
  standards for robotic applications. Sustainable
  production, transportation, and packaging
  solutions along with growing food beverage
  industry will support the countrys dominance in
  the industry.
• North America precision gearbox market from cast
  iron is expected to dominate the industry with
  over 50 revenue share. Extensive usage of the
  material in construction of outer body of gearbox
  will contribute towards high revenue generation
  over the next eight years. The product is used
  for improved lubrication and high technological
  advancements in the manufacturing techniques.

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