China Precision Gearbox Market Size & Outlook, 2023-2030
China precision gearbox market, 2018-2030 (US$M)
Related Markets
China precision gearbox market highlights
- The China precision gearbox market generated a revenue of USD 800.0 million in 2023 and is expected to reach USD 1,733.2 million by 2030.
- The China market is expected to grow at a CAGR of 11.7% 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 800.0 million |
| Market revenue in 2030 | USD 1,733.2 million |
| Growth rate | 11.7% (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, China accounted for 26.9% 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 Asia Pacific, China precision gearbox market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,733.2 million by 2030.
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Precision Gearbox Market Scope
Precision Gearbox Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 64.8% in 2023. Horizon Databook has segmented the China precision gearbox market based on harmonic, cycloid, planetary covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the China precision gearbox market is expected to be driven by increase in adoption of several advanced material handling equipment such as wagon tipplers, belt conveyer systems, and bucket elevators for easy movement and handling and materials, in the cement industry.
In addition, adoption of advanced robotic systems in the warehousing as per the trend of zero-labor warehousing in China is expected to benefit precision gearbox market growth.
Precision gearboxes are used in several industries in China, such as cement, defense, logistics, food & beverage, robotics, and metallurgy. In cement and metallurgy industries, precision gearbox is used in material handling equipment including belt conveyer, bucket elevator, crusher, ring granulator, roller screen, and rotary wagon tippler.
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Horizon Databook provides a detailed overview of country-level data and insights on the China precision gearbox market , including forecasts for subscribers. This country databook contains high-level insights into China precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China precision gearbox market size, by product, 2018-2030 (US$M)
China Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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