Global Precision Gearbox Market to reach xx billion by 2027.Global Precision Gearbox Market is valued approximately at USD 2.69 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 9.1% over the forecast period 2021-2027. A precision gearbox is a mechanical device used to offer higher tolerance machines or assembly lines in manufacturing industriess compared to conventional gearboxes. These devices are capable of exhibiting an efficiency of more than 90% by increasing or decreasing the torque and altering speed under precise limits. Rising demand for automation in manufacturing industry due to enhanced productivity, rise in deployment of robots in the manufacturing sector and the rising preference for tailored precision gearboxes are driving the growth of the market. For instance, according to Statista, installation of industrial robots increased from 294000 units in 2016 to 422000 units in 2018 globally. Furthermore, favorable government initiatives for growth of manufacturing in emerging economies are expected to fuel the demand for precision gearboxes in the coming years. However, high cost of automation may hamper the growth during forecast period.

Asia Pacific, North America, Europe, Latin America, and Rest of the World are considered for the regional analysis of the global Precision Gearbox. Asia Pacific is the dominating region across the world in terms of market share (revenue)due to decline in prices of computer numerical controllers and robots which led to a shorter payback time for the manufacturing equipment. Whereas Europe is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to growing preference for automation owing to the unavailability of skilled labor and rising workplace accidents.
Major market player included in this report are:

Bonfiglioli Riduttori S.p.A.
Wittenstein SE
Neugart GmbH
Siemens AG
Rexnord Corp.
ABB Ltd.
Sew-Eurodrive GmbH & Co KG
G? 1/4 del Group AG
Dana, Inc.
The Timken Company

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Axis of Orientation:
In-line/Coaxial
Right Angle
Parallel
By Gear Technology:
Planetary
Bevel
Helical
Spur
Others
By Application:
Food & Beverage
Machine Tools
Materials Handling
Packaging
Robotics
Medical
Others


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.

Target Audience of the Global Precision Gearbox Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors