Saudi Arabia Precision Gearbox Market Size & Outlook
Saudi Arabia precision gearbox market, 2018-2030 (US$M)
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Saudi Arabia precision gearbox market highlights
- The Saudi Arabia precision gearbox market generated a revenue of USD 7.1 million in 2023 and is expected to reach USD 13.0 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 9.1% 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 7.1 million |
| Market revenue in 2030 | USD 13.0 million |
| Growth rate | 9.1% (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, Saudi Arabia accounted for 0.2% 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 Middle East & Africa, Saudi Arabia precision gearbox market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 11.3 million by 2030.
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Precision Gearbox Market Scope
Precision Gearbox Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 67.61% in 2023. Horizon Databook has segmented the Saudi Arabia precision gearbox market based on harmonic, cycloid, planetary covering the revenue growth of each sub-segment from 2018 to 2030.
The precision gearbox market in Saudi Arabia is expected to witness growth over the forecast period owing to the expansion of applications including robotics, packaging, food, beverage & tobacco, and others. In addition, increased government spending on the medical industry is projected to further support the market growth.
The precision gearbox market in Saudi Arabia is anticipated to gain momentum over the forecast period on account of the expansion of robotics industry in the country. Robotics play a major role in supporting the growth of small manufacturers.
Factors such as affordability and accessibility are likely to propel its demand among small companies, manufacturers, and agricultural industry. Precision gearboxes are used in robotic arms in order enable highly precise movements. Thus, the expansion of robotics industry is likely to benefit the precision gearbox market growth over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia precision gearbox market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia precision gearbox market size, by product, 2018-2030 (US$M)
Saudi Arabia Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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