LOS ANGELES - November 29, 2019 - (Newswire.com)
QY Research has released a new report on the global high precision planetary gear reducers market. Titled “Global High Precision Planetary Gear Reducers Market Research Report 2019,” the report provides thorough research and analysis on the global high precision planetary gear reducers market. According to the report, the global high precision planetary gear reducers market is projected to reach a value of more than US $1.0 billion by the end of 2025 as it grows at a robust CAGR of 7.01% between 2019 and 2025. In 2018, the global market value reached over US $0.7 Billion.
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High Use in Servo and Industrial Automation Applications Likely to Benefit Market
Global demand for high precision planetary gear reducers is expected to increase in important applications such as test rig engineering, custom machine engineering, recycling, mining, special-purpose vehicle engineering, and renewable energy. High precision planetary gear reducers could also be used in construction machinery and general mechanical engineering applications. Other important applications of high precision planetary gear reducers are conveyors, linear slides, pick-and-place automation, and injection-molding machines. Strong demand for high precision planetary gear reducers with superior performance in servo applications could be another factor contributing to the growth of the global market.
Demand for High Precision Planetary Gear Reducers Expected to Increase in Robotics
Based on product type, the global high precision planetary gear reducers market is segmented into linear and right angle planetary gear reducers. On the basis of application, the global high precision planetary gear reducers market is segmented into robotics, engineering machinery, food processing machinery, medical devices, packaging machinery, aerospace, textile, machine tools, printing machinery, and semiconductor equipment. The requirement for low-backlash, high accuracy, and high precision planetary gear reducers could increase in automation, motion control, and robotics applications.
North America Market Predicted to Gain from High Demand in Marine and Aerospace
North America and the Asia-Pacific are anticipated to exhibit decent growth in the global high precision planetary gear reducers market during the forecast period. Manufacturers of high precision planetary gear reducers could find growth opportunities in North America due to the demand in marine, machine tools, and aerospace applications. The Asia-Pacific market is expected to benefit from the expansion of the printing and packaging industry and high growth of the semiconductors industry.
Players Anticipated to Improve Production Capacity to Gain Competitive Advantage
The report covers key players of the global high precision planetary gear reducers market such as Neugart GmbH, Shenzhen Zhikong Technology, Wittenstein SE, Li-Ming Machinery, SEW-EURODRIVE, SLHPDM, Flender, Ningbo Zhongda Leader, Apex Dynamics, Pinhong Technology, Harmonic Drive Systems, Sumitomo, Newstart, ZF, STOBER, Sesame Motor, Rouist, Hubei Planetary Gearboxes, and Nidec. Players are expected to focus on expanding their production capacity in the future.
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Original Source: Global High Precision Planetary Gear Reducers Market Predicted to Earn Over US $1.0 Billion by 2025