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The gear hobbing machines market size is estimated to grow at a CAGR of 3.2% between 2022 and 2027. The market size is forecast to increase by USD 127.39 million. The growth of the market depends on several factors, such as the growth in the automotive industry, the demand for superior-quality products and CNC machines, and the increase in deepwater and ultra-deepwater exploration.
This report extensively covers market segmentation by application (automotive industry, aerospace industry, industrial machinery, and others), product (vertical hobbing machines and horizontal hobbing machines), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Gear Hobbing Machines Market Forecast 2023-2027
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Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The automotive industry significantly contributes to the gear hobbing machines market as they are highly dependent on automobile and automotive component production. The machine tools are extensively used in automobile applications related to different vehicle systems including the rack and pinion steering system, starter, seat adjustment, electric power-assisted steering (EPS) technology, windshield wiper motor, electric handbrakes, power windows, and wing mirror adjustment.
Moreover, there is an increasing focus by OEMs on penetrating the passenger car market in emerging economies as emerging countries, such as China and India, have lesser penetration of motorization than the developed economies of North America and Europe. As a result, the suppliers of gear hobbing machines are emphasizing increasing their production to meet the growing demand for passenger cars within these countries. Hence, such factors are positively impacting the market which in turn will drive the market growth during the forecast period.
The emergence of 3D printing, also known as additive manufacturing has revolutionized the manufacturing industry. The process of 3D printing essentially comprises building the product in thin layers one by one. It also facilitates the manufacturing of complex geometries that are either arduous or impossible with traditional manufacturing techniques.
Moreover, the main advantage of 3D printing is that it optimizes the use of material and, therefore, reduces wastage of material. Even though there is a high upfront cost associated with 3D printers, the use of this technology can gradually lead to a substantial reduction of incremental unit costs for the manufacturer. Therefore, there is a significant shift in the manufacturing processes in automotive, aerospace, and other end-user sectors due to the improvements in 3D printing technology and its adoption in the automotive industry. Hence, such factors are driving the market growth during the forecast period.
The grinding process and technology is one of the essential aspects of the manufacturing of gear. The main advantage of using grinding technology in gear manufacturing is that it helps to improve ear quality and perfect symmetries. Some of the main advancements in grinding technology include increased material removal, longer tool life, and innovations in machine-delivering enhanced stability.
Moreover, several manufacturers are kipping the traditional gear manufacturing processes such as shaping and hobbling due to the increased ability of the grinding machines as well as the increasing focus of manufacturers on cost reduction. Hence, such factors are negatively impacting the market. therefore, it is expected to hinder the market growth during the forecast period.
The automotive industry segment is estimated to witness significant growth during the forecast period. There is a significant influence of the automotive sector on the growth of the global gear hobbing machines market such as any fluctuation in demand and technical improvements in the automobile sector. will impact the market growth. For example, the growing demand for precision gear manufacturing equipment to support electric vehicle (EV) drivetrain components has led to the shift toward EVs.
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The automotive industry segment was the largest segment and was valued at USD 261.48 million in 2017. In addition, there is a growing requirement for specialized gear machining solutions due to the use of new materials in vehicle manufacture, such as carbon fiber-reinforced polymers. Several factors such as the growth of autonomous vehicles and the necessity for very precise gearbox components are significantly contributing to the growth of the segment. Also, there is an increasing focus by developed countries on automation and cost-efficiency in gear manufacturing processes. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
Based on the product, the segment is classified into vertical hobbing machines and horizontal hobbing machines. One of the most widely adopted hobbling machines is the vertical hobbing machine due to its versatility. The main advantage of this segment is that it ensures higher product quality through better finishing of the gears. One of the prominent markets operating in the global gear hobbing machines market is Star-SU LLC which launched a wide range of products including H 250-400 Vertical Gear Hobbing Machines productive for small batches or mass production. Hence the increase in demand and availability of cutting-edge vertical hobbing machines is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 48% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. One of the main factors that are significantly contributing to the growth of the gear hobbing machines market in APAC is the increase in drilling activities, especially in unconventional reserve bases like deepwater assets. China, India, and Indonesia are some of the prominent countries in APAC that are fuelling the market for offshore drilling equipment and acquisition, which extensively uses gears for its working mechanism. Furthermore, China is which is expected to significantly contribute to the market growth in the region. Hence, such factors are expected to drive the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global gear hobbing machines market witnessed a significant slowdown due to the disruption in the supply chain and a halt in manufacturing operations in APAC. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the resumption of manufacturing operations. Such factors are expected to drive the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AEROMECH TECHNOLOGIES Pvt. Ltd: The company offers gear hobbing machines such as CNC gear hobbing that combines mechanics, electronics, and automation with high-speed dry and wet hobbing.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Bourn and Koch Inc., Brighton Equipment Corp., Chongqing Machine Tool Co. Ltd., DMG MORI Co. Ltd., DVS TECHNOLOGY GROUP, EMAG GmbH and Co. KG, Gleason Corp., Helios Gear Products, KLINGELNBERG GmbH, Liebherr International Deutschland GmbH, LMT Tools GmbH and Co., Mitsubishi Heavy Industries Ltd., Monnier and Zahner AG, Premier Gear and Machining Inc., Reishauer AG, Swegon Group AB, UCAM Pvt. Ltd., WTO Werkzeug-Einrichtung GmbH, and Star SU LLC.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The gear hobbing machines market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Gear Hobbing Machines Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.2% |
Market growth 2023-2027 |
USD 127.39 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.4 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AEROMECH TECHNOLOGIES Pvt. Ltd., Bourn and Koch Inc., Brighton Equipment Corp., Chongqing Machine Tool Co. Ltd., DMG MORI Co. Ltd., DVS TECHNOLOGY GROUP, EMAG GmbH and Co. KG, Gleason Corp., Helios Gear Products, KLINGELNBERG GmbH, Liebherr International Deutschland GmbH, LMT Tools GmbH and Co., Mitsubishi Heavy Industries Ltd., Monnier and Zahner AG, Premier Gear and Machining Inc., Reishauer AG, Swegon Group AB, UCAM Pvt. Ltd., WTO Werkzeug-Einrichtung GmbH, and Star SU LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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