France Precision Gearbox Market is projected to exceed USD 90 million with a CAGR 4.8% by 2024
France Precision Gearbox Market to witness immense growth from food & beverage application due to augmenting automation demand by 2025.
India – April 26, 2019 /MarketersMedia/ —
Graphical Research has launched a report on France Precision Gearbox Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Proliferating demand for smoother and enhanced driving experience coupled with easy gear shifting in vehicles is expected to escalate the industry growth. Automotive production witnessed an increase of approximately 6.5% across the country in 2017 over previous year. Moreover, increasing demand for noiseless operations in vehicles will positively influence France precision gearbox market growth.
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Manufacturers are increasingly focusing on automating the entire production cycle for reducing the operational cost and improving the total output. Industry automation and application of gearbox in surgical robots are among the prominent application segment expected to present strong growth opportunities for France precision gearbox market size.
Automated parts in the industry tend to perform repetitive task at high frequencies in comparison to labor. Moreover, utilization of artificial intelligence and machine learning helps in developing robots and machinery that perform operations with high accuracy and reduced time consumption. This aids the manufacturer to reduce incremental cost by wastage reduction, material optimization and decrease in cost related to labor expenses, scrap and raw material reclaim. This will escalate the growth France precision gearbox market.
Significant paradigm shift from conventional manufacturing methods towards additive manufacturing to reduce manufacturing costs and material consumption optimization is among the major trends gaining traction. Ability of the additive manufacturing tools to build complex shapes that cannot be manufactured by traditional technique will provide considerable opportunities for France precision gearbox market growth.
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France population growth over the past few years have in turn led to increased demand for housing and infrastructure development. This will fuel agriculture and construction industry growth. Increased application of precision gearbox system in agriculture & construction industry will positively influence the France precision gearbox market size over the forecast timeframe.
Rising popularity for electric vehicles owing to its eco-friendly operation, reduced emissions, high efficiency, and reduced gear usage will hinder the France precision gearbox market growth. Presence of direct drive systems which have enhanced efficiency and eliminates the usage of the gears can hamper industry growth.
Carbon steel precision gearbox market segment will witness xx% CAGR over the forecast timeframe owing to its low cost and high tensile strength. Development in watertight design of carbon steel will provide significant growth prospects through the forecast timeframe.
Plastic material segment is expected to account for xx% of the France precision gearbox market size. Increasing utilization of plastics can be attributed to its light weight, minimum lubrication, low maintenance, and less power output requirement. Furthermore, advancements in manufacturing and molding techniques will further trigger the segment growth.
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Shifting trend towards smart factories through utilization of lean manufacturing and automation will present potential growth prospects. Smart factories enhance overall efficiency, reduce operational and processing cost. Moreover, augmenting demand for enhanced driving experience and smooth gear shifting mechanism accompanied by automation of operations in car will drive the industry over the forecast timeframe.
Key business competitors operational in France Precision Gearbox Market are Leroy Somer Motors & Drivers, Nuegart GmbH, General Motors Strasbourg, Penouest, Alberto Export, APEX Dynamics, CGI, BCSA Gear and AMIS. Manufacturers are adopting strategies including new product launch, and mergers & acquisition for establishing strong industry foothold. For instance, in 2017, Minjo Precision Gearing acquired a technology with integrated automatic measuring system from Gleason. This will help the company to enhance its product quality.
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