April 29, 2020
As per the report titled ‘Global High Precision Planetary Gear Reducers Market Research Report 2020’, available with Market Study Report LLC, global high precision planetary gear reducers market attained a valuation of USD 778.5 million in 2020 and is estimated to reach USD 1256.6 million by the end of 2026, expanding at 7% CAGR during 2021-2026.
High precision planetary gear reducer is composed of three parts, namely, planetary wheel, sun gear, and inner ring gear and is transmission mechanism. Increase in vital industrial applications such as rig engineering, recycling, mining, vehicle engineering, and renewable energy harvesting, on account of rapid industrialization and urbanization across the globe is driving the growth of global high precision planetary gear reducers industry.
Based on the product type, the market is bifurcated into right angle and linear. The linear planetary gear reducer segment held 70% market share in 2018 and is estimated to display strong growth trends during the forecast period.
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Speaking of the application spectrum, robotics segment is anticipated to witness a considerable growth during the analysis period. Increasing automation and adoption of robots across various industries to improve efficiency, reduce manual labor and enhance workplace safety are contributing to the demand for high precision planetary gear reducers in robotics.
Considering the geographical landscape, China accounted for 31% volume share of worldwide market, whereas Japan held 7% market share, India at 4%, and Southeast Asia at 5%. Asia Pacific market is predicted to benefit from the expansion of printing and packaging sectors and strong growth of semiconductor industry.
Prominent industry players include Neugart GmbH, SEW-Eurodrive, Wittenstein SE, Apex Dynamics, Flender, Newstart, Harmonic Drive Systems, STOBER Drives Inc., Nidec, Rouist, Sesame Motor, Sumitomo, ZF, Ningbo ZhongDa Leader, PIN HONG TECHNOLOGY, Shenzhen Zhikong Technology, Hubei Planetary Gearboxes, Slhpdm, and LI-MING Machinery.
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