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Market research analysts at Technavio predict that the global gear cutting machine market will grow steadily during the next four years and post a CAGR of more than 2% by 2021. Since the automotive industry is one of the major end-users of machine tools such as gears, the growth of the industry especially in the emerging economies will be one of the primary growth factors for the gear making machine market. For instance, the passenger vehicle production segment is witnessing significant growth in China, which will, in turn, create the demand for machine tools including gear cutting and gear hobbing machines. Furthermore, the rise in need for safer and cleaner transportation that will increase the need for the production of light-weight automobiles will also fuel market growth since this will demand the need for new gears and the replacement of conventional gears.
One of the major trends that will gain traction in the gear shaping machine market in the coming years is the adoption of 3D printing or additive manufacturing for manufacturing gears. Since 3D printing builds the product in thin layers one by one, it eases the production of complex geometries and also eliminates the need for melting and reusing materials resulting in reducing the capital and raw material costs. Though the initial cost of procuring 3D printers is high, their benefits enable manufacturers in improving efficiency and reducing operational costs increasing their demand for manufacturing gears.
The market is characterized by the presence of a number of gear cutting machine manufacturers and appears to be highly fragmented. Key players who have a wide geographical presence and a large number of manufacturing facilities currently dominate the market. To establish their presence, vendors in the market are increasingly focusing on the development and introduction of innovative products. To survive the highly competitive environment and increase revenue shares, vendors have the need to distinguish their product and service offerings through a clear and unique value proposition.
The report offers a detailed analysis of several leading companies, including:
The other prominent vendors in the market are Bourn & Koch, KANZAKI KOKYUKOKI, Klingelnberg, STAR SU, LMT Tools, Samputensili, Monnier + Zahner, Zen Machine Tools, Chongqing Machine Tools, Zaozhuang Yixin Heavy Machine Tools, EMAG, Vanguard Machinery International, WTO, Prawema, Monnier + Zahner, Felsomat, Ashoka Machine Tools, SCHIESS BRIGHTON Holding, Ueda Heavy Gear Works, Strojimport, Premier, Yamazaki Mazak, DMG Mori, Mikron, Yanmar, FFG Werke, and Luren Precision Chicago.
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During 2016, the automotive sector accounted for the major shares and dominated the gear cutting tools market as the major end-user industry. The rise in sales of automobiles around the globe, especially in the emerging economies will fuel market growth, since transmission gears are one of the most significant components in automobiles.
This market study estimates that in terms of geographical regions, the Americas will be the major revenue contributor to the market throughout the forecast period. Increased investments to improve the upstream activities in China and the rising demand for offshore drilling equipment from countries such as China, India, and Indonesia, will be the major factors that will drive the market’s growth prospects in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by end-user
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Explore Technavio
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