About Gears
A gear is a rotating machine part that has mesh via teeth in numerous shape including a cylindrical and cone-shaped surface with equal spacing, used to transmit rotations or torque from the driving shaft to the driven shaft. The growing demand for enhanced acceleration, improved driving experience, and low rate of carbon emission is the key driving factors that are fueling the growth of gears market worldwide
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Billion) |
CAGR | 4.9% |
Top players are focusing on launching innovative products in order to establish their business presence to sustain in a highly competitive market, vendors are focusing on unique product design and marketing strategy. Analyst at AMA Research estimates that German, Japanese and United States Manufacturers will contribute the maximum growth to Global Gears market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toyota (Japan), Volkswagen (Germany), General Motors (United States), Ford (United States), Daimler AG (Germany), Fiat Chrysler (United Kingdom), David Brown Santasalo (United Kingdom), Eaton (Republic of Ireland), Robert Bosch (Germany), Honda (Japan), Magna (Canada), Caterpillar (United States), ZF Friedrichshafen (Germany), Aisin Seiki (Japan), Dana Holding (United States), FLSmidth MAAG Gear (Switzerland), GKN Plc. (United Kingdom), Emerson Electric (United States), Bonfiglioli (Switzerland) and Allison Transmission (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Winergy AG (Germany), BorgWarner (United States), Carraro SpA (Italy), SEW-EURODRIVE (Germany), Meritor (United States), Rotork Plc. (United Kingdom), Shaanxi Fast Gear (China) and Sumitomo Heavy Industries (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Gears market by Type (Spur Gears, Helical Gears, Gear Rack, Worm Gear, Bevel Gear and Others), Application (Vehicles, Industry and Special Equipment) and Region.
On the basis of application, Vehicles segment is dominating the market in the year 2021 where as Industrial segment stood as second largest market .On the basis of geography, the market of Gears has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2021. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Material Type, the sub-segment i.e. Metallic Gears will boost the Gears market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Industry Specific Gear and Increasing Adoption of Automotive Gears in Automatic Transmission System
Market Growth Drivers:
Increasing Demand in Oil and Gas Industry, Growing Number of Renewable Energy Projects and Increasing Number if Industries in Developing Economies and Surging Production of the Vehicles Worldwide
Challenges:
Increase in Capital Expenditure and Rising Prices of Raw Materials Such as Stainless Steel, Aluminium, Cast Iron, Brass and Bronze
Restraints:
High Cost of High-End Gear Systems Maintenance and Manufacturing Cost and Low Penetration of Advanced Geared Vehicles
Opportunities:
Increasing Number of Gears in Vehicles Due to Surging Demand for High Speed and Plastic Gears Reinforced With Carbon Fiber is An Upcoming Technology
Market Leaders and their expansionary development strategies
In April 2023, The Gleason Corporation, a global leader in gear technology, unveiled its innovative "Genesis Gear Grinding Machine". This machine boasts faster cycle times and improved accuracy for gear production.
In July 2023, Dongfeng Gear Transmission Co., Ltd., a Chinese automotive parts supplier, launched a new series of high-efficiency gears for electric vehicles. These gears are designed to improve the range and efficiency of electric cars.
Key Target Audience
OEMS, Distributers & Suppliers, Automotive Industry, Manufacturing Sector, Private Equity Groups and Other Similar Entities
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.