Canada Precision Gearbox Market Size & Outlook, 2023-2030
Canada precision gearbox market, 2018-2030 (US$M)
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Canada precision gearbox market highlights
- The Canada precision gearbox market generated a revenue of USD 21.0 million in 2023 and is expected to reach USD 37.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 8.6% 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.
Precision gearbox market data book summary
| Market revenue in 2023 | USD 21.0 million |
| Market revenue in 2030 | USD 37.3 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Planetary |
| Fastest growing segment | Harmonic |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Canada accounted for 0.7% of the global precision gearbox market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. precision gearbox market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 667.5 million by 2030.
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Precision Gearbox Market Scope
Precision Gearbox Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 66.67% in 2023. Horizon Databook has segmented the Canada 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 Canada is expected to be driven by rapid growth and technological advancements in the country’s aerospace industry. investment of about USD 1.4 billion was made in 2018 towards R&D of advancement aircraft systems.
In addition, investment by food manufacturing companies for setting up large scale food processing facilities with advanced machinery, is expected the market growth. The Canada precision gearbox market growth is expected to be driven by rapid growth and technological advancements in the country’s aerospace industry.
Canada is home to several aerospace companies employing over 89,000 skilled professionals. As per government of Canada reports, aerospace industry contributed about USD 13.1 billion in 2018 to country’s GDP.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada precision gearbox market , including forecasts for subscribers. This country databook contains high-level insights into Canada precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada precision gearbox market size, by product, 2018-2030 (US$M)
Canada Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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