Gear Hobbing Machines Market to increase by USD 127.39 million during 2022-2027 | Growth in the automotive industry to drive the growth - Technavio

NEW YORK, Nov. 27, 2023 /PRNewswire/ -- The gear hobbing machines market size is expected to grow by USD 127.39 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 3.2% during the forecast period. The market is segmented by Application (Automotive industry, Aerospace industry, Industrial machinery, and Others), Product (Vertical hobbing machines and Horizontal hobbing machines), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).

The growth in the automotive industry drives market growth. The gear hobbing machines market as they are highly dependent on automobile and automotive component production is a major factor for the automotive industry growth. Emerging economies, such as China and India witnessed an increasing focus by OEMs on penetrating the passenger car market. This is because these economies have lesser penetration of motorization than the developed economies of North America and Europe. Subsequently, the suppliers of gear hobbing machines are emphasizing increasing their production to meet the growing demand for passenger cars within these countries. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the gear hobbing machines market: AEROMECH TECHNOLOGIES Pvt. Ltd., Bourn and Koch Inc., Brighton Equipment Corp., Chongqing Machine Tool Co. Ltd., DMG MORI Co. Ltd., DVS TECHNOLOGY GROUP, EMAG GmbH and Co. KG, Gleason Corp., Helios Gear Products, KLINGELNBERG GmbH, Liebherr International Deutschland GmbH, LMT Tools GmbH and Co., Mitsubishi Heavy Industries Ltd., Monnier and Zahner AG, Premier Gear and Machining Inc., Reishauer AG, Swegon Group AB, UCAM Pvt. Ltd., WTO Werkzeug-Einrichtung GmbH, and Star SU LLC
• Gear Hobbing Machines Market is fragmented in nature.
• Market to observe 2.4% YOY growth in 2023.

Market Dynamics:

Trend

• 3D printing of gears is an emerging market trend.
• Its emergence, also known as additive manufacturing has revolutionized the manufacturing industry.
• The main advantage of 3D printing is that it optimizes the use of material.
• Thus, it reduces wastage of material, and although there is a high upfront cost associated with 3D printers, the use of this technology.
• This can gradually lead to a substantial reduction of incremental unit costs for the manufacturer.

Challenge

• The improvements in grinding technology challenge the market growth.
• It helps to improve ear quality and perfect symmetries.
• Furthermore, the increased material removal, longer tool life, and innovations in machine-delivering enhanced stability are some of the main advantages.
• Additionally, various manufacturers are kipping the traditional gear manufacturing processes.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

• The automotive industry segment is significant during the forecast period. The growth of the global gear hobbing machines market is majorly impacted by the automotive sector. This includes any fluctuation in demand and technical improvements in the automobile sector. The growing demand for precision gear manufacturing equipment to support electric vehicle (EV) drivetrain components has led to the shift toward EVs. Furthermore, there is an increasing focus by developed countries on automation and cost-efficiency in gear manufacturing processes. 

Get a glance at the market contribution of the segments, Request a Sample

Related Reports:

The robotic cells market is estimated to decline at a CAGR of 9.41% between 2022 and 2027. The size of the market is forecast to increase by USD 33,078.65 million.

The geared motors and drives market size is estimated to grow at a CAGR of 7.3% between 2023 and 2028. The market size is forecast to increase by USD 8.45 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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