October 24, 2019 by Amanpreet
Gear measuring machines for automotive applications are projected to be the most important feature of the gear measuring machines market. The market is growing at a significant CAGR of ~3% during the forecast period. Fast paced production of efficient and advanced power transmission units is propelling the demand for the advanced gear measuring machines with a shorter time cycle in the global market. The rise in the automotive production and sales enhances the market for gear measuring machines globally. Apart from automotive applications, wind power generation and metal & mining sectors also appear to be significant in the market for gear measuring machines. The wind power generation sector is growing at a relatively high pace as compared to other applications. It is projected that the market size of gear measuring machines for wind power generation will reach ~ US$ 71 Mn by 2029 in the global gear measuring machines market.
The global market for gear measuring machines appears to be consolidated in nature as prominent players have their presence in regional as well as global markets. Manufacturers are continuously trying to bring innovative solutions as per the demand of different applications. There is a comprehensive perception among manufacturers of gear measuring machines that if they intend to remain competitive in such a consolidated market, they need to secure clients for the long-term.
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Varying Cost of Gear Measuring Machines Will Affect Sales of the Gear Measuring Machines Market
Gear measuring machines come with various software packages, and the cost of the software varies based on manufacturers’ need. The design for customized software requires a lot of R&D, which in turn, increases the cost of overall machines. This is because the cost of machines increases as per the level of accuracy. Recent developments the gear inspection industry has witnessed is CMM (coordinate measuring machines) type inspection machines with gear inspection capability. The cost of CMM is far lesser than gear measuring machines. Therefore, small manufacturers who require only basic gear inspection should go for CMM. However, CMM alone is not suitable for gear manufacturers with higher production capacity because of its low throughput and accuracy level. Due to above facts of advancements in CMM, net volume sales could be affected for small manufacturers.
Electric Vehicles Adoption to Impact the Gear Measuring Machines Market Growth
Electric vehicles make use of gears even though the number of gears will be less as compared to conventional vehicles. Increased penetration of electric vehicles could hamper the overall gear measuring machines market growth. However, at present, the number of electric vehicles are still less as compared to conventional and hybrid vehicles. Collectively, conventional and hybrid vehicles have ~96% share in the overall automotive industry. Owing to growing tailpipe emissions and rising fuel prices, electric vehicles are witnessing an astonishing growth. The increasing adoption of electric vehicles is foreseen to positively impact the gear measuring machines market in the automotive sector in the foreseeable future. However, the impact on the overall market will be low.
Software Innovations to Boost the Growth of the Market
Software is one of the most important factors that differentiates machine manufacturers. Manufacturers are constantly working to optimize the software application to make the inspection faster and precise, with tons of additional features that increases the throughput by decreasing the cycle time. Some manufacturers of gear measuring machines use window-based OS. However, due to its low cost, they also use Dos-based application software. A good application software allows to carry out a wide range of evaluations in accordance with various national and international standards in less inspection time. In addition, it also allows the addition of numerous special features to the machines as per customers’ demand and requirements.
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Prominence of Online or Indirect Sales Channel Will Propel the Gear Measuring Machines Market
Direct sales channel holds ~56% share in the overall gear measuring machines sales. However, online or indirect sales channel is growing at a relatively fast pace as compared to direct sales, owing to increasing online presence of industrial machinery manufactures. The online or indirect sales channel is estimated to grow at a significant CAGR of ~4% in terms of value in the gear measuring machines market over the forecast period.
China to Witness a Positive Growth in the Gear Measuring Machines Market
Europe is the key region for productions and sales of gear measuring machines. Key countries and group of countries in the Europe gear measuring machines market are Germany, France, Spain, Italy, UK, Benelux, and Nordic. In China, the total sales of vehicles in the past year reached ~28 million units. In terms of vehicle production, China is the largest market in the world. Increasing purchasing power of Chinese is also bolstering the multiple opportunities for manufacturers of gear measuring machines in the region. Increasing demand for vehicle in developing economies will boost the growth of the gear measuring machines market over the forecast period. The global market for gear measuring machines is estimated to grow at a significant CAGR of ~3%, and will represent a total incremental opportunity of ~US$ 150 Mn in terms of value by the end of 2019.
Competition Among Existing Players and Strategic Developments Will be the Main Strategies in the Gear Measuring Machines Market
The market for gear measuring machines is estimated to grow considerably over the forecast period as contenders in the global market are rising and competition with existing players is estimated to increase in the next ten years. Manufacturers in the gear measuring machines market are likely to expand their footprints through strategic developments such as product launches, product innovations, expansions, collaborations, and acquisitions.
For instance, in 2018, Gleason inaugurated New Technology and Manufacturing Center in Studen, Switzerland. The new fully-advanced manufacturing facility extends the company’s machine assembly capacity by 60% and office space by 30% as compared to previous premises.
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In 2017, Gleason Corporation acquired gear cutting tool business from Hurth Infer in Brazil. Hurth Infer is one of the leading manufacturers of gear cutting tools, which was founded in 1963. In 2017, Klingelnberg launched P16 G measuring center for “gapless” work piece measurement. In 2012, the company acquired Höfler Maschinenbau GmbH.
A comprehensive view of the gear measuring machines market has led our analysts to conclude that the market is growing at a significant rate, with North America, Europe, and APEJ holding a significant share in the global gear measuring machines market. Expansion in the automotive industry and increasing demand for more complex gears, especially for the construction, aviation and shipbuilding industry in developing countries such as India and China are also spurring the demand for gear measuring machines. The need for commercial vehicles in transporting goods and the increasing sales of cars around the globe, is bolstering the gear measuring machines market. Effective integration of design and workflow by various manufacturers will also give impetus to the global gear measuring machines market over the forecast period.
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