Europe Precision Gearbox Market Size, Share & Trends Analysis Report By Product (Harmonic, Cycloidal, Planetary), By Application (Military & Aerospace, Food Beverage & Tobacco, Machine Tools, Material Handling, Packaging, Robotics, Medical, Others), By Type (Planetary Gearbox, Worm Gearbox, Helical Gearbox, Bevel Gearbox, Spiral Bevel Gearboxes, Others (Flange Gearboxes, hypoid gearboxes, etc.)), By Shaft Orientation (Coaxial, Right angled, Parallel Shift) and By Country(U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, Rest of Europ) Forecasts, 2024-2032

Market Overview

The Europe Precision Gearbox market size is expected to reach a valuation of USD 877.05 million by 2030, growing at a CAGR of 7.04 % during the forecast period (2022–2030). 

Europe is predicted to be the precision gearbox's second-largest market. Automation technology adoption by major players in industries such as food and beverage, aerospace, military, and machine tools in established European countries such as the United Kingdom, Germany, and Italy is expected to drive the market in Europe.

A precision gearbox is a mechanical device with more tolerance than a standard gearbox. These devices are machined to have a better than 90% efficiency by varying the torque and adjusting the speed within exact limitations. They help save space because they have small component designs and are made up of two or more gears. They function well with low-frequency vibrations and are appropriate for low-speed tasks. Precision gearboxes are now employed in a variety of industries, including robotics, medical, machine tools, material handling, and many more. These gears are designed for applications requiring extreme precision and accuracy. As a result, they are manufactured with extremely fine tolerances and have a high efficiency of over 90%. They're also more useful than standard gearboxes because of features like quiet operation and small size. As a result, they're used in machine tools, robotics, food and beverage manufacturing equipment, and material handling equipment.

Market Dynamics

Market drivers

• Lightweight and compact size: Do you see industrial gears as large, cumbersome machines? With current precision gearboxes, this is no longer the case. When compared to conventional industrial gearboxes, they are lighter and offer a better torque transferring capacity. The number of planet gears can be increased to boost the torque transferring capacity even more. Modern planetary gears that have the same torque output and gear ratio as classic gears weigh up to 50% less, making these gearboxes easier to handle and install and hence this can potentially drive the market towards growth in European region.

• Increasing automation in Industries: When a human does a task, the margin of error can be as high as 10%, but with a process automation platform, the margin of error can be as low as 0.00001 percent. The increasing automation of industrial processes nowadays focuses not only on efficiency and profitability, but also on increasing flexibility and significantly improving the quality of manufacturing processes, significantly reducing task margins of error. These precision gearboxes are used in industries while automating various processes and hence with increasing automation their demand is also expected to catch growth in coming years in European region.

Market restraints

• Availability of Substitutes: The precision gearbox industry's expansion may be hampered by the availability of numerous replacements, such as speed reducers and direct drive systems. Direct drive solutions, for example, reduce the use of gears, lowering product weight and system complexity. It improves efficiency even further while reducing energy waste. Furthermore, in recent years, a shift away from coil-driven goods toward magnet-driven gearboxes has reduced product cost, which may limit product demand.

Market opportunities

• Growing demand from health care sector: The healthcare industry is one of the most important markets in the world, affecting every aspect of our lives. Precision gearboxes are employed in the healthcare industry for a variety of applications and processes. They help producers of imaging equipment like X-rays and NMR, change patient beds softly and precisely, and provide dependable performance in prescription drug administration. The medical sector has seen a considerable increase in product demand, which is likely to continue during the projection period, providing attractive prospects for the market's main players in the countries of

Regional Analysis

By 2030, the Europe Precision Gearbox market is estimated to be worth USD 877.05 million, growing at a CAGR of 7.04 percent over the forecast period (2022–2030). Europe is expected to be the second-largest market for precision gearboxes. Automation technology adoption by significant companies in industries such as food and beverage, aerospace, military, and machine tools are projected to drive the market in Europe. Established European countries such as the United Kingdom, Germany, and Italy are expected to lead the market.

Precision gearboxes are commonly used to replace industrial gearboxes in the European region due to their capacity to perform repetitive jobs with more uniformity and precision. Rapid growth in the packaging and packaging machinery industries in the United Kingdom and Italy is likely to open up new market opportunities in the future years. Packaging machinery from Italy and the United Kingdom is exported to the United States, Brazil, Australia, and other European Union countries.

The growing desire for noiseless operations in automobiles would boost the precision gearbox market in France. Manufacturers are increasingly focusing on automating the entire production cycle in order to reduce operational costs and boost overall productivity. Industry automation and the use of precision gearboxes in surgical robots are two important application segments that are predicted to grow rapidly in the France precision gearbox market.

Segmental Analysis

The Europe precision gearbox market has been categorised by product, application, and region.

The precision gearbox market has been segmented into harmonic, cycloidal, and planetary segments based on product. With a large growth rate, the planetary category is projected to dominate the region's market. Planetary precision gearboxes are small yet highly powerful due to their rolling power. The weight of the responsibility can likewise be shared across the planet's gears. These planetary gears also have a minimal backlash and an excellent torque-to-weight ratio. As a result, over the projected period, the market is expected to be driven by its use in robotics.

Military & aerospace, food, beverage & tobacco, machine tools, material handling, packaging, robotics, medical, and other applications make up the precision gearbox industry. During the anticipated period, the robot segment is expected to lead the region's market, with respectable revenues.

Precision gearboxes are mostly employed in the robotics industry, which is expected to expand rapidly in the next years. This is due to the growing usage of humanoid artificial joints and limbs, as well as manufacturing robots, which rely on precision gearboxes to balance and perform incredibly accurate movements for a variety of services and industrial tasks. Precision gearboxes are commonly used in the robotics industry because precise positioning is required in this field, which precision gearboxes give.

As a result, the growth of the robot’s segment is expected to boost the expansion of the precision gearbox market.

Impact of covid-19

The automotive industry is critical to the economy's growth. However, during the second and third quarters of 2020, the COVID-19 outbreak impacted the whole automotive supply chain, affecting new car sales in FY 2020.

South America is most affected by COVID-19, with Brazil leading the way, followed by Ecuador, Chile, Peru, and Argentina. South America's government (SAM) has taken a number of steps to protect its citizens and stem the spread of COVID-19. South America is expected to have fewer export revenues as commodity prices fall and export volumes fall, particularly to China, Europe, and the United States, which are all significant trading partners. The manufacturing industry, especially automotive manufacturing, has been damaged by containment measures in various South American countries. Due to the pandemic, major automotive manufacturers have also temporarily halted manufacturing in the region as a cost-cutting move. Furthermore, the automobile disc brake industry has been significantly affected in 2020 due to a lack of raw materials and supply chain disruption.

The Automotive Brake System control module of a vehicle is meant to alert the driver with a warning light if the system fails. The module itself is rarely defective; instead, the sensors or the wiring to the sensors are frequently defective. The most typical cause of dysfunction is when the Automotive Brake System is contaminated with particles or metal shavings. There is no signal continuity when sensor wiring is destroyed. Brake fluid becomes contaminated in corrosive situations, and the hydraulic unit fails to function.

Recent Developments

• In 2021- Hiwin Corporation's Offenburg-based supplier has added the DATORKER series of tiny gear units to its product line. With the acquisition of this product, Hiwin Corporation's market position for precision gearboxes in Germany will be enhanced.

• Neugart GmbH establishes Neugart France S.A.S. as a new subsidiary. The company's precision planetary pinion gearbox offering in the French market would be bolstered by the newly formed subsidiary.