Latin America Precision Gearbox Market Size & Outlook
Latin America precision gearbox market, 2018-2030 (US$M)
Related Markets
Latin America precision gearbox market highlights
- The Latin America precision gearbox market generated a revenue of USD 43.7 million in 2023.
- The market is expected to grow at a CAGR of 8.9% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 43.7 million |
| Market revenue in 2030 | USD 79.2 million |
| Growth rate | 8.9% (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, Latin America region accounted for 1.5% 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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Latin America 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 67.73% in 2023. Horizon Databook has segmented the Latin America precision gearbox market based on harmonic, cycloid, planetary covering the revenue growth of each sub-segment from 2018 to 2030.
The precision gearbox market is projected to witness growth owing to the rising product demand across various application industries including medical, packaging, material handling, machine tools, food, beverage, & tobacco, robotics, medical, military & aerospace, and others.
The demand for precision gearboxes is anticipated to grow in Central & South America over the forecast period on account of the expansion of application industries including medical, packaging, material handling, machine tools, food, beverage, & tobacco, robotics, medical, military & aerospace, and others.
Precision gearboxes are being increasingly used in the aforementioned industries to ensure the safety, efficiency, and speed of the machine. The number of robots installed in workplaces is increasing over time.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America precision gearbox market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America precision gearbox market size, by country, 2018-2030 (US$M)
Latin America Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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