Precision Gearbox Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026

Precision gearboxes are machined to offer higher tolerance as compared to conventional gearboxes by offering efficiency of more than 90%. These gearboxes are used to reduce the gear speed which results in high torque multiplication. Gearbox designers prefer precision gears over servo motors and drives as precision gearboxes contain smaller components which help in saving space and cost. For applications which require low speed, smaller gearboxes are used which can supply high torque. Precision gearboxes are widely used in manufacturing and assembly lines, such as transportation of products on conveyor belts, fluid injection, precise turning, packaging industry, and other industries.

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Adoption of new technologies to improve energy efficiency in the manufacturing industry is anticipated to drive the demand for precision gearboxes during the near future. Innovations in miniature gears have enabled companies to manufacture highly precise, lightweight, and small aluminum housing gears. These gears are used in applications which require low backlash and higher transmission accuracy. Rise in demand for processes such as precise turning, transporting products on conveyor belts, positing, fluid injections, and variable acceleration in bottling and packaging plants is projected to drive the growth of the precision gearbox market during the forecast timeline.

However, emerging use of direct drive systems is anticipated to restrict the demand for precision gearboxes in the near future. Direct drive systems eliminate the use of gears, thereby reducing the complexity and weight of the gearbox thereby increasing the overall efficiency of the gearbox as there is no energy loss. The overall costs of direct drive systems is thereby reduced as these systems use coil-driven permanent magnet products. Emerging robotics applications are likely to increase the demand for arms having highly precise movements, which are poised to be fulfilled by precision gearboxes.

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Increasing demand for tailored precision gearboxes against standard gear offerings is projected to accelerate the growth of the precision gearbox market across the world during the forecast timeline. 3D modelling has enabled manufacturers to design smaller quantities of custom products at lower costs. The energy-efficiency classification of electric motors has helped in reducing energy consumption, and thereby in cost savings.

The precision gearbox market has been segmented by product, application and region. Based on product, the global precision gearbox market can be segmented into right angle precision gearbox, parallel precision gearbox, and planetary precision gearbox. The planetary precision gearbox segment accounted for a major share of the global precision gearbox market in 2017. The right angle precision gearbox segment is emerging rapidly as this type of gearbox does not require the input and output shafts on the same axis. Right angle precision gearbox offers greater flexibility when the construction space in particular applications is limited. It is also ideal for assembly joints placed in the corner of manufacturing lines and in the upgrade of assembly facilities.