According to a recent market study published by Growth Market Reports, titled, “Global Precision Gearbox Market by Product, by Application, by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 3,161.2 Million in 2022 and is expected to grow at a moderate growth rate of 11.5% by the year 2031.

As per Growth Market Reports industry analyst Akash Vedpathak, “Global Precision Gearbox Market is anticipated to witness significant growth during the forecast period 2023-2031. A precision gearbox is a type of gearbox that has a high level of accuracy and reliability in transmitting power and motion. It usually has a gear ratio that is fixed and constant as well as a low backlash and noise level. A precision gearbox is used with servosystems, machine tools, industrial equipment, and other applications that require precise control and positioning. The precision class of a gearbox is specified by the standards set by ISO, AGMA, JIS, DIN, and others. The precision class indicates the allowable errors in pitch, tooth profile, helix deviation, and runout of the gears.

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Key factors that are anticipated to fuel the demand for the global precision gearbox market during the forecast period are the rising demand for robotics system and rising awareness and adoption in various industries. Conversely, availability of alternatives, and high cost and stringent government regulations challenges may hamper the market growth of the precision gearbox market. The technological development and industrial revolution 4.0 create opportunities in the market.

The primary, as well as secondary research methodology, is used for keen observation and study about Precision Gearbox market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

The COVID-19 pandemic had a significant effect on the precision gearbox market, due to the temporary shutdown of industrial units during the lockdown period. The lack of demand from the industrial sector caused a severe decline in market growth. All key end-user industries for precision gearboxes, including power, metals, mines, and minerals, were impacted by the economic downturn. Additionally, the COVID-19 outbreak had a significant negative impact on the supply chain of every major industry. Manufacturers had trouble obtaining the parts they needed to make precision gearboxes, due to supply chain disruptions. This caused delayed output and increased costs. Government restrictions caused temporary closures in a variety of industries, which limited product demand by restricting installations and the repair and maintenance of existing automation systems. Despite these difficulties, the global precision gearbox market is projected to develop throughout the forecast period, due to various factors. One of these factors is the growing prevalence of industrial automation in a variety of industries, including steel, food and beverage production, and manufacturing.

Key Takeaways from the Study:

  • In terms of product, the planetary segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • Based on application, the manufacturing segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

Report Scope:

Report Metric


Market Value in 2022

US$ 3,161.2 Million

Market Growth Rate (from 2016 to 2031)


Historical Data


Base Year


Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Type, By Application, By Region

Key Companies Profiled

Nabtesco Corporation, NIDEC CORPORATION, Sumitomo Heavy Industries, Ltd., HARMONIC DRIVE SYSTEMS INC., Bonfiglioli S.p.A, ABB, Güdel Group AG, SEW-EURODRIVE, Genesis Motion Solutions, GAM Enterprises, Inc., and EGT Eppinger Getriebe Technologies GmbH.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturers, Vendors, and Distributors

  • Demand Side: Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.