Asia Pacific Precision Gearbox Market Size & Outlook
Asia Pacific precision gearbox market, 2018-2030 (US$M)
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Asia Pacific precision gearbox market highlights
- The Asia Pacific precision gearbox market generated a revenue of USD 1,946.1 million in 2023.
- The market is expected to grow at a CAGR of 10.6% from 2024 to 2030.
- In terms of segment, planetary was the largest revenue generating product in 2023.
- Harmonic is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 1,946.1 million |
| Market revenue in 2030 | USD 3,935.2 million |
| Growth rate | 10.6% (CAGR from 2023 to 2030) |
| Largest segment | Planetary |
| Fastest growing segment | Harmonic |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Harmonic, Cycloid, Planetary |
| Key market players worldwide | Harmonic Drive Systems Inc, Nidec Corp, Sumitomo Corp, Nabtesco Corp, The Timken Co, Hiwin Technologies Corp, Parker Hannifin Corp, ABB Ltd, Koch Industries, Motus GI Holdings Inc |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 65.5% of the global precision gearbox market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,935.2 million by 2030.
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Precision Gearbox Market Scope
Precision Gearbox Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific precision gearbox market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to precision gearbox market will help companies and investors design strategic landscapes.
Planetary was the largest segment with a revenue share of 66.02% in 2023. Horizon Databook has segmented the Asia Pacific precision gearbox market based on harmonic, cycloid, planetary covering the revenue growth of each sub-segment from 2018 to 2030.
The precision gearbox market growth in Asia Pacific region is expected to be driven by the wide adoption of precision gearbox in industries such as cement, and metallurgy in countries such as China, Japan, India, and South Korea for material handling applications.
In addition, growing consumption of packaged and processed foods in several countries in the region is expected to create new growth opportunities in precision gearbox market. The growth of Asia Pacific precision gearbox market is expected to be driven by the wide adoption of precision gearbox in industries such as cement, sugar, and metallurgy in several countries of the region including China, Japan, India, and South Korea for material handling applications.
These equipment help in movement and handling of materials in these industries, thus reducing human effort and minimize wastage of raw materials. Countries such as China & India are among the largest cement manufacturers of the world, accounting for about 50% of the global production.
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Our clientele includes a mix of precision gearbox market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific precision gearbox market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific precision gearbox market size, by country, 2018-2030 (US$M)
Asia Pacific Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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