Precision geared products market decelerates
According to a new report from IMS Research, Austin, shipments of precision geared products (gearboxes and geared motors with backlash ratings of less than 20 arc-min) were nearly 80% higher in 2012 compared to 2009. However, uncertainty about the Eurozone economy and China’s slower economic growth are leading factors in the more than 1% decline expected for precision geared product shipments in 2013. Nevertheless, this market’s value is projected to reach nearly $1.7 billion with more than 1.8 million units shipped in 2013.
Precision gearbox shipments, which accounted for more than 95% of the precision geared products market in 2012, increased by more than 70% from 2009 levels due to pent-up demand for servo-driven machinery and increased access to capital. The new report, The World Market for Precision Gearboxes and Geared Motors, indicates shipments will exceed 2 million units by 2016 despite decelerating growth. For more information, visit imsresearch.com.