San Jose, California (PRWEB) January 30, 2015
Follow us on LinkedIn Transmission systems are omnipresent in the world of mechanical engineering. Gears, drives, and speed changers are critical elements in virtually every mechanical system that involves force and movement. The increase in the use of electromechanical machinery across diverse industries across the globe is therefore the single most important factor driving growth in the market. Market development, over the decades, has been guided by electrification of machine tools and rapid industrialization. With the proliferation of CNC (Computer Numerical Control) machines, the importance of gears, drives, and speed changers remains undiminished even today. Plant automation and developments in industrial kinetics will continue to drive demand growth in the market.
Growth in the market is also supported by the increase in the use of industrial conveyor systems in industries such as automotive, agriculture, computers, electronics, food processing, aerospace, pharmaceuticals, chemicals, bottling and canning. Recovering global manufacturing PMI and renewed activity in power generation, mining, and oil & gas, are expected to drive growth in the market. The automotive industry represents a major end-use market, with growth supported by stable automobile production and sales in developing countries. Growth in GDP, improvements in standard of living, increase in discretionary spending and expanding base of middle class population represent factors favoring the rise in per capita automobile ownership in these markets.
Growth in the military sector will benefit from the growing fleet of military aircraft. Increase in the aircraft sales and production will positively impact market opportunities for aircraft power transmission components, including gears and gear drives. Increasing investments in nuclear power plants, wind energy farms and coal fired thermal plants, against a backdrop of rising global energy demand, will help spur demand for a range of gears, drives and speed changers used in power generation equipment like turbines. Growing focus on renewable energy amidst growing concerns over fossil fuel depletion and environmental pollution is driving demand for wind turbine gears. Wind turbine gearboxes form an integral component of wind power generation equipment and increased development of onshore as well as offshore wind farms is offering robust growth opportunities for wind turbine gearboxes.
As stated by the new market research report on Gears, Drives and Speed Changers, Asia-Pacific represents the largest and the fastest growing market, with a projected CAGR of 6.3% over the analysis period. Growth in the region is led by rapid industrialization, strong GDP gains, growing investments in the industrial sector, and outsourcing induced expansion of the manufacturing base in low cost Asian countries.
Major players covered in the report include ABB Ltd., Bharat Gears Ltd., Bonfiglioli Riduttori S.P.A., BorgWarner Inc., Bosch Rexroth AG, Cone Drive Operations, Inc., Curtis Machine Company, Dana Holding Corp., Danfoss Group, David Brown Engineering Limited, Eaton Corp., Emerson Industrial Automation, FLSmidth MAAG Gear AG, Haley Marine Gears Inc., Horsburgh & Scott, Hub City Inc., Kanzaki Kokyukoki Manufacturing Co., Mitsubishi Electric Automation Inc., Oerlikon Graziano Drive Systems, Rexnord Corporation, Rockwell Automation Inc., Schneider Electric Ltd., Siemens Energy and Automation, SEW Eurodrive GmbH, Sumitomo Machinery Corp. of America, Twin Disc Inc., and ZF Friedrichshafen AG among others.
The research report titled Gears, Drives and Speed Changers: A Global Strategic Business Report announced by Global Industry Analysts Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. End-use markets analyzed include Automotive; Industrial; and Marine, Aerospace, & Others. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.
For more details about this comprehensive market research report, please click here
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