World Gears, Drives & Speed Changers Market to Reach $105 Billion by 2012, According to New Report by Global Industry Analysts

A spate of technological developments use of CAD/CAM for designing and production, and intense R&D are changing the landscape in the worldwide gears industry. The world gears, drives & speed changers market is projected to reach $105 billion by the year 2012.

San Jose, California (PRWEB), November 12, 2008 -- The automotive industry accounts for nearly 80% of the world demand for gears, drives & speed changers. Other end-use sectors including aerospace, marine and industrial are likely to remain a stable source of demand. Driven by consumer need for compact and efficient power transmission, manufacturers are increasingly focusing on power transmission solutions of the future. Newer techniques such as traction drives, hydraulic systems and electric gears, have made a remarkable foray into the industry. There is an ongoing effort to come up with product enhancements that can meet technological challenges to deliver better performance, yet at a cost that the end-user can afford. New markets in Eastern Europe, Latin America and Asia are propelling demand for high precision gears. Although facing a threat from rising penetration of continuous variable transmission (CVT), the market for advanced gear technology is growing at an impressive pace across the world.

Europe is the largest market for gears, drives, and speed changers (http://www.strategyr.com/Gears_Drives_And_Speed_Changers_Market_Report.asp) in the world and is projected to cross US$31 billion by the year 2010, as stated by Global Industry Analysts, Inc. United States is estimated to corner a share of 23% while Europe accounts for a 34% share. Asia-Pacific is the fastest growing market and is projected to expand at a CAGR of more than 8% through 2010. The Asian market is forecast at about US$20.9 billion for the year 2009. The automotive (http://www.strategyr.com/Gears_Drives_And_Speed_Changers_Market_Report.asp) market for gears, drives and speed changers is expected to reach a value of about US$77 billion in 2010, while the market in marine/aerospace/other applications is forecast to rise to US$5.4 billion in 2013. The market for gears and drives in industrial (http://www.strategyr.com/Gears_Drives_And_Speed_Changers_Market_Report.asp) applications is estimated at close to US$13 billion in 2008.

Key players dominating the global gears, drives & speed changers market include ABB, Bharat Gears, Bonfiglioli Group, BorgWarner, Bosch Rexroth, Dana Corp., Danfoss Group, Eaton Corp., Emerson Industrial Automation, Haley Marine Gears, Horsburgh & Scott Co., Iveco, Kanzaki Kokyukoki Manufacturing, MAAG Gear AG, Oerlikon Graziano Drive Systems, Rexnord, Rockwell Automation-Allen Bradley, Siemens Energy & Automation, SEW Eurodrive, Sumitomo Drive Technologies, Textron/Cone Drive Operations/David Brown Engineering, Tomkins, and ZF Friedrichshafen AG.

The report titled "Gears, Drives & Speed Changers: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, product profile and segmentation, business environment analysis, technological developments, product introductions/innovations, recent industry activity and key player profiles. The study includes market data and analytics in dollar value for regions such as United States, Canada, Japan, Europe (France, Germany, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific, Latin America, and Rest of World by the following end-use segments - Automotive; Industrial; and Marine, Aerospace and Others.

For more details about this research report, please visit http://www.strategyr.com/Gears_Drives_And_Speed_Changers_Market_Report.asp

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) (http://www.StrategyR.com/) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

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