Technavio expects the gear manufacturing market to grow by USD 73.66 billion between 2020 and 2025, expanding at a CAGR of 5.73% during the forecast period.
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By product, the worm gear segment will generate maximum revenue in the gear manufacturing market during the forecast period. Worm gears are extensively used to reduce and manage speeds at low and medium levels. They are also self-locking which makes them ideal in hoisting and lifting applications. In terms of geography, APAC will present significant opportunities for market vendors. The region currently holds 40% of the global market share. Rapid growth in industrialization and rising investments in water and wastewater treatment facilities are fueling the growth of the gear manufacturing market in APAC.
Gear Manufacturing Market: Major Growth Drivers
The gear manufacturing market growth is expected to be driven by the adoption of industrial automation. The adoption of automation is gaining significant prominence in the manufacturing industry across the world. This has increased the use of robots and automation equipment in various high-speed, repetitive tasks. With the rising adoption of automation, the demand for gears will consequently increase, thereby fueling the growth of the global gear manufacturing market.
In addition, increasing investments in renewable energy and the resurgence of investments in the oil and gas sector will further accelerate the growth of the market. However, the slowdown in the manufacturing sector in China will harm the growth of the market.
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Gear Manufacturing Market: Key Vendor Offerings
DB Santasalo Sarl: The company is involved in the manufacturing of a wide range of gears for various end-user applications.
Emerson Electric Co.: The company offers gears such as CW Series Quarter-turn Worm Gear Operator and others.
Johnson Electric Holdings Ltd.: The company manufactures a wide range of gears for various end-user applications.
Reasons to Buy Gear Manufacturing Market Report:
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist gear manufacturing market growth during the next five years
- Estimation of the gear manufacturing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the gear manufacturing market across APAC, Europe, North America, MEA, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of gear manufacturing market vendors
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Gear Manufacturing Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.73% |
Market growth 2021-2025 |
USD 73.66 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.97 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 40% |
Key consumer countries |
China, US, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
DB Santasalo Sarl, Emerson Electric Co., Johnson Electric Holdings Ltd., Rotork Plc, SEW-EURODRIVE GmbH and Co KG, Siemens AG, Sumitomo Heavy Industries Ltd., Walterscheid GmbH, WEG Equipamentos Eletricos SA, and ZF Friedrichshafen AG |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.
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SOURCE Technavio
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