Robot gears and sprockets market size to grow by USD 49.12 million from 2022 to 2027: Growth in the e-commerce industry to boost market growth - Technavio
NEW YORK, April 27, 2023 /PRNewswire/ -- The global robot gears and sprockets market size is estimated to increase by USD 49.12 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 5.48%. The growth in the e-commerce industry is driving the global robot gears and sprockets market growth. The e-commerce sector has expanded over the past decade, which has increased the need for automation and robotics in distribution and storage centers. These facilities use automated systems, such as robots, to complete orders quickly and efficiently, which increases the need for robot gears and sprockets. Moreover, governments of various countries are encouraging the use of automation and robotics in the logistics sector. For example, the Made in China 2025 initiative by the Chinese government focuses on developing advanced manufacturing technologies such as robotics and automation. Therefore, the expansion of the e-commerce sector is expected to fuel the growth of the market during the forecast period. Discover some insights on market size, historic period (2017-2021), and forecast (2023-2027) before buying the full report -Request a sample report
Robot gears and sprockets market – Customer landscape
Our report analyzes the life cycle of the global robot gears and sprockets market from the innovator's stage to the laggard's stage. The report illustrates the lifecycle of the global robot gears and sprockets market, focusing on the adoption rates of the major countries such as the US, Canada, China, India, Japan, and Germany. To help companies evaluate and develop growth strategies, the report outlines –
Key purchase criteria
Adoption rates
Adoption lifecycles
Drivers of price sensitivity
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Robot gears and sprockets market – Vendor analysis
Vendor landscape –
The global robot gears and sprockets market is fragmented, with the presence of vendors. A few prominent vendors that offer robot gears and sprockets in the market are Apex Dynamics Inc., Ascent Precision Gear Corp., B and B Manufacturing Inc., Brother Industries Ltd., Designatronics Inc., Forest City Gear Co., Gear Motions Inc., Globe Transmission Corp., Innovation First International Inc., Kohara Gear Industry Co. Ltd., Nabtesco Corp., Nidec Corp., Ondrives Ltd., R W America LP, Regal Rexnord Corp., STD Precision Gear and Instrument Inc., STOBER Drives Inc., SuperDroid Robots Inc., The Timken Co., and Tsubakimoto Chain Co. and others.
Manufacturers are investing significantly in R&D to introduce better products into the market and expand their customer base. Vendors are strengthening their position with the help of M&A and strategic partnerships. The market landscape will remain competitive, as the market growth over the next five years is expected to remain moderate. The competition among vendors is expected to remain high during the forecast period.
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Vendor offerings -
B and B Manufacturing Inc. - The company offers robot gears and sprockets, such as spur gears for security robots.
Brother Industries Ltd. - The company offers robot gears and sprockets through its subsidiary Nissei Corp.
Designatronics Inc. - The company offers robot gears and sprockets such as spur gears and anti-backlash gears.
Forest City Gear Co. - The company offers robot gears and sprockets such as high-precision gears.
For details on the vendor and its offerings – Request a sample report
Robot gears and sprockets market - Segmentation assessment
Segment overview
Technavio has segmented the market based on application (material handling, assembly line, welding, and painting), product (gears and sprockets), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The material handling segment will account for a significant share of the market growth during the forecast period. This is because of the use of automation in several industries due to the increasing demand for effective and affordable material handling solutions. Material handling is a primary application for robotic gears and sprockets. It includes the movement, storage, and management of materials within manufacturing or distribution facilities. Technological developments such as compact, lightweight robots with large payload capacities are accelerating the expansion of the market. Robots are used for material handling to improve productivity and efficiency. These factors will drive the growth of the segment during the forecast period.
Geography overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global robot gears and sprockets market.
APAC is expected to account for 50% of market growth during the forecast period. The increasing adoption of robotics and automation in many industries is driving the growth of the market in the region. APAC has prominent companies such as Nidec Corporation, Harmonic Drive Systems, and Sumitomo Heavy Industries. Market players invest significantly in research and development to create effective, reliable, and affordable advanced robotic systems, gears, and sprockets. Government initiatives such as Make in India also promote the use of automation and robotics. Therefore, the market in the region is expected to grow during the forecast period.
For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a sample report
Robot gears and sprockets market – Market dynamics
Key trends - The growing use of 3D printing technology for production is a key trend in the market. The use of 3D printing technology is increasing, as it is used to manufacture components. It can be used to create complex shapes quickly at a low cost. This provides gear and sprocket designers and manufacturers flexibility to customize their products. Governments of various countries are investing in 3D printing technology to drive innovation and economic growth. For example, the US government has launched innovation initiatives to increase cooperation between businesses, academia, and governments. These factors will support market growth during the forecast period.
Major challenges - The high initial cost for small and medium-sized enterprises can impede the growth of the market. Small businesses face challenges such as the high initial investment required to set up robotic systems. It is difficult for them to compete with large companies due to the high cost of purchasing and installing robots. In addition, the cost of software and hardware required for such installations is too high. Moreover, they may not have the financial resources to set up and maintain advanced robotic systems. Therefore, many SMEs may be reluctant to adopt these technologies, which may limit their competitiveness.
What are the key data covered in this robot gears and sprockets market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the robot gears and sprockets market between 2023 and 2027
Precise estimation of the size of the robot gears and sprockets market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the robot gears and sprockets market across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of robot gears and sprockets market vendors
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Robot Gears And Sprockets Market Scope | |
Report Coverage | Details |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 5.48% |
Market growth 2023-2027 | USD 49.12 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 4.64 |
Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution | APAC at 50% |
Key countries | US, China, Japan, South Korea, and Germany |
Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled | Apex Dynamics Inc., Ascent Precision Gear Corp., B and B Manufacturing Inc., Brother Industries Ltd., Designatronics Inc., Forest City Gear Co., Gear Motions Inc., Globe Transmission Corp., Innovation First International Inc., Kohara Gear Industry Co. Ltd., Nabtesco Corp., Nidec Corp., Ondrives Ltd., R W America LP, Regal Rexnord Corp., STD Precision Gear and Instrument Inc., STOBER Drives Inc., SuperDroid Robots Inc., The Timken Co., and Tsubakimoto Chain Co. |
Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for forecast period |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Table of contents
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global robot gears and sprockets market 2017 - 2017
4.2 By application Segment Analysis 2017 - 2017
4.3 By product Segment Analysis 2017 - 2017
4.4 Geography Segment Analysis 2017 - 2017
4.5 Country Segment Analysis 2017 - 2017
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by Application
6.1 Market segments
6.2 Comparison by Application
6.3 Material handling - Market size and forecast 2022-2027
6.4 Assembly line - Market size and forecast 2022-2027
6.5 Welding - Market size and forecast 2022-2027
6.6 Painting - Market size and forecast 2022-2027
6.7 Market opportunity by Application
7 Market Segmentation by Product
7.1 Market segments
7.2 Comparison by Product
7.3 Gears - Market size and forecast 2022-2027
7.4 Sprockets - Market size and forecast 2022-2027
7.5 Market opportunity by Product
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 APAC - Market size and forecast 2022-2027
9.4 North America - Market size and forecast 2022-2027
9.5 Europe - Market size and forecast 2022-2027
9.6 South America - Market size and forecast 2022-2027
9.7 Middle East and Africa - Market size and forecast 2022-2027
9.8 US - Market size and forecast 2022-2027
9.9 China - Market size and forecast 2022-2027
9.10 Japan - Market size and forecast 2022-2027
9.11 Germany - Market size and forecast 2022-2027
9.12 South Korea - Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 B and B Manufacturing Inc.
12.4 Brother Industries Ltd.
12.5 Designatronics Inc.
12.6 Forest City Gear Co.
12.7 Gear Motions Inc.
12.8 Globe Transmission Corp.
12.9 Innovation First International Inc.
12.10 Kohara Gear Industry Co. Ltd.
12.11 Nabtesco Corp.
12.12 Nidec Corp.
12.13 Ondrives Ltd.
12.14 Regal Rexnord Corp.
12.15 STOBER Drives Inc.
12.16 The Timken Co.
12.17 Tsubakimoto Chain Co.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
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