Europe Precision Gearbox Market Size & Outlook, 2023-2030
Europe precision gearbox market, 2018-2030 (US$M)
Related Markets
Europe precision gearbox market highlights
- The Europe precision gearbox market generated a revenue of USD 525.1 million in 2023.
- The market is expected to grow at a CAGR of 7.5% 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, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 525.1 million |
| Market revenue in 2030 | USD 871.2 million |
| Growth rate | 7.5% (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, Europe region accounted for 17.7% 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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Europe 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 67.32% in 2023. Horizon Databook has segmented the Europe 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 Europe is expected to be driven by increase in adoption of automation technologies by large players from such as food & beverages, aerospace, defense, and machine tools, in developed countries of Europe such as UK, Germany, and Italy.
In addition, rapid growth in the packaging industry in UK and Italy are expected to create new opportunities for market growth over the coming years. Precision gearbox are widely adopted in the region as a substitute for industrial gearboxes, owing to the ability to perform repetitive tasks with higher uniformity and precision.
The Europe precision gearbox market is expected to grow significantly by increase in adoption of automation technologies by large players from such as food & beverages, aerospace, defense, and machine tools, in developed countries of Europe such as UK, Germany, and Italy.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe precision gearbox market , including forecasts for subscribers. This continent databook contains high-level insights into Europe precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe precision gearbox market size, by country, 2018-2030 (US$M)
Europe Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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