UK Precision Gearbox Market Size & Outlook, 2023-2030
UK precision gearbox market, 2018-2030 (US$M)
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UK precision gearbox market highlights
- The UK precision gearbox market generated a revenue of USD 30.3 million in 2023 and is expected to reach USD 38.3 million by 2030.
- The UK market is expected to grow at a CAGR of 3.4% 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 30.3 million |
| Market revenue in 2030 | USD 38.3 million |
| Growth rate | 3.4% (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, UK accounted for 1.0% 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 Europe, Germany precision gearbox market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 105.6 million by 2030.
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Precision Gearbox Market Scope
Precision Gearbox Market Companies
| Name | Profile | # Employees | HQ | Website |
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UK 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 UK precision gearbox market based on harmonic, cycloid, planetary covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of UK precision gearbox market growth is expected to be driven by rapid growth in demand for packaged food and beverages such as bakery products, ready-to-eat products, and juices amid the outbreak of the COVID-19 pandemic in 2020.
Several food & beverage companies are setting up large scale food processing facilities with advanced machineries to increase their production capacity. The UK precision gearbox market is expected to be driven by the growing packaging industry over the forecast period.
Packaging industry is a major contributor to the country’s GDP. Precision gearboxes are widely used in packaging machines for industries such as food & beverage and electronics as well as for uniform circular movement of machines at a constant speed to achieve high precision levels.
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Horizon Databook provides a detailed overview of country-level data and insights on the UK precision gearbox market , including forecasts for subscribers. This country databook contains high-level insights into UK precision gearbox market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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UK precision gearbox market size, by product, 2018-2030 (US$M)
UK Precision Gearbox Market Outlook Share, 2023 & 2030 (US$M)
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