A precision gearbox is a mechanical device with greater tolerances than a standard gearbox. These devices are machined to have a better than 90% efficiency by varying the torque and managing 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 perform well with low-frequency vibrations and are appropriate for low-speed jobs. Precision gearboxes are becoming more common in a variety of areas, including robotics, medicine, machine tools, material handling, and others. These gears are designed for applications requiring extreme precision and accuracy. As a result, they're manufactured to extremely fine tolerances and have a high efficiency of over 90%. They're also more useful than standard gearboxes due to features such as quiet operation and small size. As a result, they're used in machine tools, robotics, food and beverage production equipment, and material handling equipment.
The LAMEA Precision Gearbox market size is expected to reach a valuation of USD 72.74 million by 2030, growing at a CAGR of 7.45% during the forecast period (2022–2030). Also, Middle East and African Precision Gearbox market size is expected to reach a valuation of USD 59.27 million by 2030, growing at a CAGR of 7.74% during the forecast period (2022–2030). During the study period, the Middle East and Africa precision gearbox market is expected to grow at a stable CAGR of roughly 7.74%. Players in the industry are diversifying their service offerings in order to increase revenue, which is expected to drive segment growth through 2027. Over the projection period, the growth of the medical sector in the Middle East and Africa is expected to improve product demand. The growing manufacturing sector in Latin America is responsible for the increased demand of these precision gearboxes in the region.
Get more information on this report Download Sample Report
In LAMEA Precision Gearbox Market is classified into three categories: product, application, and geography.
The precision gearbox market has been segmented into harmonic, cycloidal, and planetary segments based on product. With a high growth rate, the planetary category is likely to dominate the market in the region. Planetary precision gearboxes are small but powerful due to their rolling power. The burden of responsibility might be shared among the planet's gears as well. These planetary gears also have less backlash and a good torque-to-weight ratio. As a result, over the projected period, the market is expected to be driven by its use in robotics.
Military and aerospace, food, beverage, and tobacco, machine tools, material handling, packaging, robotics, medical, and other applications are all part of the precision gearbox business. During the projection period, the robot segment is expected to lead the region's market with respectable revenues.
Precision gearboxes are most commonly used in the robotics industry, which is expected to grow rapidly in the next years. This is due to the growing usage of humanoid artificial joints and limbs, as well as manufacturing robots, both of which rely on precision gearboxes to balance and conduct very exact movements for a variety of services and industrial tasks. Precision gearboxes are commonly used in the robotics industry since this business requires precise positioning, which precision gearboxes give.
As a result, the increase in the robot segment is expected to boost the expansion of the precision gearbox market.
Regional Growth Insights Request Sample Pages
By 2030, the LAMEA Precision Gearbox market is anticipated to be worth USD 72.74 million, with a CAGR of 7.45% over the forecast period (2022–2030). Furthermore, the market for Precision Gearboxes in the Middle East and Africa is estimated to reach USD 59.27 million by 2030, rising at a CAGR of 7.74% over the forecast period (2022–2030). The Middle East and Africa precision gearbox market is predicted to grow at a steady 7.74% CAGR during the study period. To generate revenue, industry players are broadening their service offerings, which is likely to fuel segment growth through 2027. Product demand is predicted to improve as the medical industry in the Middle East and Africa grows throughout the forecast period. Increased demand for these precision gearboxes in Latin America is due to the region's growing manufacturing industry.
During the projection period, the packaging sector in Brazil is expected to increase significantly. The packaging industry offers potential for the application of innovative technologies and materials that can extend the life of a product. High growth rates are predicted across the region as a result of rising personal incomes, resulting in increased demand for a wide range of products, which, in turn, promotes growth for packaging manufacturers, increasing the need for precision gearboxes in the Brazilian region.
Due to its application in heavy construction machines and vehicles for better functionality, precision gearbox machinery is in high demand in the Middle East countries of the UAE, Saudi Arabia, Oman, and Jordan. In these areas, high-precision worm gears, precision cycloidal gearboxes, and high-torque planetary gearboxes are frequently used.
In Africa, the demand for food and beverages will continue to rise as the population grows. In 2021, the African food and beverage industry's E-Commerce sector is predicted to generate €1.15 billion in revenue. Sales growth is predicted to average 18.19% from 2021 to 2025. In 2025, the predicted growth would result in a market volume of around €2.38 billion. South Africa is Africa's major food and beverage market, with a strong production capacity and excellent agricultural and agro-processing skills and due to this the demand is enhanced for these precision gearboxes in the region as it is frequently used in Food and Beverage Industry.
Some of the major players in the LAMEA Region (having significant market shares) are listed below: