According to the research report titled, ‘France Precision Gearbox Market Growth By Material, Application, Sales Channel, Industry Forecast, 2018 – 2024’, available at MarketStudyReport.com, the France precision gearbox market is expected to surpass USD 90 million by 2024.
 

Growing demand for improved and smoother driving experience along with emergence of easy gear shifting solutions in vehicles are major factors driving the France precision gearbox market growth. There has been an upsurge of about 6.5% in automotive production in France since 2017. Adding to this, increasing demand for noiseless operations in automobiles are further facilitating the market expansion.
 

Manufacturers are primarily focusing on integrating automation solutions to production processes in order to improve the productivity as well as reduce the operational cost. The development of automation technology in industrial and manufacturing processes facilitates in performing recurring tasks at high frequencies as compared to labor workforce.
 

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Additionally, adoption of machine learning and artificial intelligence technology has helped in developing machinery and robots which perform operations in less time and with better accuracy. Thus, aforementioned factors are stimulating the industry outlook.
 

Also, growing population has impelled the demand for infrastructural development which in turn is contributing towards the expansion of construction and agriculture industry. This factor along with increasing utilization of precision gearbox systems in the above-mentioned industries are promoting the business scenario in France.
 

However, increasing acceptance of electric vehicles due to their reduced gear usage, high efficiency, low emissions and eco-friendly operations may hinder the overall market growth. Additionally, advent of direct drive systems which eliminates the use of gears and offer better efficiency may further inhibit the expansion of France precision gearbox industry.
 

By material type, the carbon steel segment is slated to expand significantly during the estimated timeframe. The product offers high tensile strength and low cost properties. Emergence of watertight design of carbon steel will also create lucrative growth opportunities for the overall market.
 

Meanwhile, the plastic segment is expected to register significant growth during the forecast period. Plastics boast of various benefits such as low maintenance, minimum lubrication, lightweight, as well as low power requirements. Adding to this, technological improvements in molding and manufacturing processes are fueling the segmental growth.
 

General Motors Strasbourg, Alberto Export, Leroy Somer Motors & Drivers, Penouest, BCSA Gear, AMIS, CGI, APEX Dynamics, Nuegart GmbH, and Wittenstein SE are the prominent companies operating in the France precision gearbox market.