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.
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.
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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.
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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.
Some of the major players in the European Region (having significant market shares) are listed below: