San Jose, California (PRWEB) October 07, 2013
Follow us on LinkedIn - Gears, drives and speed changers are crucial components that find application in a multitude of industries for powering machinery. Key end-use industries include automotive, food and beverage processing, paper and pulp, plastic, rubber, power generation, mining, material handling, and oil & gas, among others. Renewed activity in these sectors is helping drive demand for gears, drives and speed changers. The automotive industry represents a major end-use market with opportunities in this space critically hinged upon automotive production and sales worldwide. Strong automotive sales expected in Asia-Pacific and Latin America as a result of healthy economic growth and improvements in standard of living, will therefore benefit growth in this sector. Other promising end-use sectors include aerospace, industrial and marine, among others. In the industrial sector, encouraging gains in global manufacturing PMI signals an optimistic outlook for gears, industrial drives and speed changers. Global manufacturing PMI although fragile and plagued with persistent challenges continues to recover, providing reasons for optimism.
Demand in the military aerospace sector will also gain traction in the coming years, as a result of the growing base of military aircraft fleet, which offers strong market opportunities for aircraft power transmission components, including gears and gear drives. While defense spending in the United States takes a hit due to fiscal cliff concerns and budget sequestration, defense spending in other regions continues to be strong. China, Russia, Saudi Arabia, Germany, Turkey and India especially are emerging as top military spenders. Dedicated budget for R&D and development of new military vehicles is also expected to boost market prospects for power transmission equipment in this sector. Safety is of utmost importance in aviation sector and highly relies on sophistication of maintenance, repair and overall (MRO) industry. Increased emphasis on MRO of aging military vehicle and aircraft fleet will bring in significant aftermarket demand for gear boxes and other transmission equipment in this sector.
Spiraling energy demand worldwide as a result of rapid economic and industrial growth in developing countries is resulting in increased investments in power infrastructure development. Establishment of new power plants and planned expansions in existing power plants is expected to drive demand for a range of gears, drives and speed changers used in power generation equipment like turbines. Growing focus on renewable energy amidst growing concerns over fossil fuel depletion and environmental pollution is driving demand for wind turbine gears. Wind turbine gearboxes form an integral component of wind power generation equipment and increased development of onshore as well as offshore wind farms in countries across the globe is offering robust growth opportunities for wind turbine gearboxes.
As stated by the new market research report on Gears, Drives and Speed Changers, Europe represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing regional market with a projected CAGR of 6.8% over the analysis period. Growth in the region is led by rapid industrialization, strong GDP gains, increased investments in the industrial sector, and outsourcing induced expansion of the manufacturing base in low cost Asian countries.
Major players covered in the report include ABB Ltd., Bharat Gears, Bonfiglioli Riduttori S.P.A., BorgWarner Inc., Bosch Rexroth AG, Dana Holding Corp., Danfoss Group, Eaton Corp., Emerson Industrial Automation, FLSmidth MAAG Gear AG, Haley Marine Gears Inc., Kanzaki Kokyukoki Manufacturing Co., Mitsubishi Electric Automation, Inc., Oerlikon Graziano Drive Systems, Rexnord Corporation, Rockwell Automation, Inc., Schneider Electric Ltd., Siemens Energy and Automation, SEW Eurodrive GmbH, Sumitomo Machinery Corp. of America, David Brown Engineering Limited, Twin Disc Inc., and ZF Friedrichshafen AG among others.
The research report titled “Gears, Drives and Speed Changers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of end-use market trends, issues, challenges, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil, Mexico and Rest of Latin America) and Rest of World. End-use markets analyzed include Automotive, Industrial, Marine, Aerospace, & Others.
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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