The global market for gear measuring machines is poised to grow at a noteworthy rate by the end of the forecast period. In terms of value, the global gear measuring machines market is expected to reach ~ US$ 538 Mn by the end of 2029. In terms of revenue, the global gear measuring machines market is foreseen to expand at a CAGR of ~3% throughout the forecast period, as revealed in the research study by Fact.MR.
The keyword market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Klingelnberg AGV, KAPP Werkzeugmaschinen GmbH, Mahr Metering Systems GmbH, Wenzel America Ltd. And many others.
Rising Demand for Automotive Gears to Create Opportunities for Key Market Players
Collectively, the demand for gear and gear assemblies in China, India, Eastern Europe, South Africa, GCC Countries, and Latin America appears to be relatively higher as compared to North America, Western Europe, and Japan. The rapid economic transformation and industrialization in countries is resulting in a high demand for motor vehicles and other manufacturing units, thus, fuelling the market growth for gear measuring machines. Increasing demand for smaller gears with complex geometry in the automotive sector is forcing manufacturers of gear measuring machines to incorporate rapid changes in their upcoming models. However, for wind power generation and other industrial applications, the gear size varies a lot and could reach up to 1,500-3,000 mm or even above. Owing to the optimistic viewpoint towards wind power generation in the future, the application is foreseen to witness an above average growth in the global gear measuring machines market by the end of 2029.
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According to Fact.MR’s study, gear measuring machines below 1,500 mm maximum workpiece diameter is expected to account for ~74% in the overall market in 2019. The automotive sector majorly drives the demand for gear measuring machines with a maximum workpiece diameter of below 650 mm. Moreover, gear measuring machines with above 650 mm maximum workpiece diameter is mostly used in gear assemblies for metal & mining, wind power generation, and other industrial applications.