Global gear demand market is expected to represent a value of nearly US$ 320,000 Mn by the end of 2026. Gear demand market size is projected to register a CAGR of 5.7% during the forecast period.
As the requirement for high-quality and uninterrupted production process arises, manufacturers in various industries are looking for premium quality gears.
Premium quality gears with robust wear performance and enhanced surface quality continue to gain significant demand in the medical, automotive, aerospace, agriculture, paper and pulp, mining industry. Power transmission features of the gear incorporates speed, direction of rotation and torque to the production process.
Range of gears witness significant demand in range of consumer goods such as screwdrivers, windup alarms and washing machines. These factors will continue to propel growth of the global gear demand market during the forecast period.
Transportation Industry to Impact Global Market Growth
Incorporation of gears in the production process has improved efficiency, simplified tuning and slashed down the motor-drive expenses in the transportation industry. Automotive equipped with gears enable the end users to adjust the direction of rotation of the rear wheels.
Manufacturers in the automotive industry are further focusing on designing technologically advanced gear motor and gear boxes that helps in minimizing the costs related with energy and further enables the industries to fulfill their tasks effectively. Bound to these factors, sales of gear demand will continue to remain high in the global market.
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Advanced Features to Underscore Lucrative Growth Opportunities
Emerging gear technology has further contributed towards the global gear demand market during the forecast period. With the growing need for automotive gears and heat treatment furnaces, demand for range of gears is likely to increase in the global market positively.
Cutting-edge technology incorporated in range of gears enables the manufacturers to offer quality process. Leading technological features such as self-monitoring, advanced protection and monitoring functions will continue to boost sales of the technologically advanced gears.
Integration of gears equipped with advanced technological features has led to enhance reliability and performance of the gears adopted for the manufacturing process. As manufacturers are increasingly focusing on the introducing innovative features in range of gears for high-quality manufacturing process in a wide swath of industries, growth of the global gear demand market will continue to witness an impressive growth in the global market.
Sales to Remain High for Bevel Gear Products
With the growing need for transmitting power, demand for the bevel gears continue to remain high globally. In terms of revenue, the bevel gear product type segment is expected to generate significant revenues, accounting for over US$ 18,000 Mn by the end of 2026.
On the other hand, the helical gear product type segment is expected to witness the fastest growth in the global gear demand market during the forecast period.
On the basis of end users, the automotive segment is expected to represent a robust revenue growth, recording a value of over US$ 44,000 Mn by 2017-end. However, the process industry end users segment is expected to register the highest CAGR through 2026.
Based on material type, the metallic segment is expected to represent significant revenue growth, accounting for a value of nearly US$ 88,000 Mn by 2026-end. In contrary to this, the non-metallic material type segment is expected to register a healthy CAGR throughout the forecast period.
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Leading market players operating in the global gear demand market include
- ZF Friedrichshafen AG
- Valeo SA
- Toyota Motor Corporation
- Sumitomo Heavy Industries Ltd.
- Siemens AG
- Magna International Inc.
- Hyundai Motor Company
- General Motors Company
- Fiat Chrysler Automobiles N.V.
- Eaton Corporation Plc
- Dana Holding Corporation
- Robert Bosch GMBH
- American Axle & Manufacturing Inc.
- Aisin Seiki Co.
- Ltd and XINAPSE SYSTEMS LIMITED
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
Growing need for enhanced and efficient manufacturing process has led to surge in demand for range of gears globally. Moreover, incorporation of advanced technological features in range of gears is expected to impact growth of the global gear demand market. This report, compiled by Fact.MR, provides in-depth analysis of the global gear demand market for the forecast period 2017-2026, and offers key insights about future market direction.
The scope of Fact.MR’s report is to analyze the global gear demand market for the forecast period 2017-2026 and provide readers an unbiased and accurate analysis. Gear demand manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to keyword.
The report commences with a brief information of the global gear demand market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global gear demand market.
The next section offers an overview of the global gear demand market. This comprises an introduction to the market, along with a standard definition of the product – keyword. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
In order to offer readers with up-to-date information about the latest advancements in the global gear demand market, the report provides updates about market opportunities, which can benefit leading manufacturers of keyword. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for gear demand manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.
Considering the wide scope of the global gear demand market and to offer in-depth insights, Fact.MR’s report provides segment-wise analysis and forecast. The gear demand market has been categorized on the basis of product type, end users, material type and region. This segmentation analysis is comprehensive, coupled with a detailed country-wise forecast provided on all parameters.
The report’s last section comprises of the global gear demand market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global gear demand market.
Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,
- Primary research
- Secondary research
- Trade research
- Focused interviews
- Social media analysis
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