Power Transmission Gearbox Market Trends

Growth Drivers

• Increasing Development of Energy Efficient Buildings - Building operations account for 30% of global final energy consumption and around 26% of global energy-related emissions out of which around 8% are direct emissions in buildings and 18% are indirect emissions from the generation of electricity and heat employed in buildings. To address the issue, Net Zero Emission by 2050 goals aims at achieving the ambitious target of new energy efficient building and turning around 20% of existing buildings carbon neutral by 2030. Power transmission gearboxes are employed in the components and technology that are used to achieve energy efficiency in the buildings. Some of the key technology that uses power transmission gearbox, includes HVAC systems, window and shading systems, elevator systems, solar tracking systems, building automation systems, energy recovery system, and others.

• Rising Demand for Lightweight and Small Gearboxes - Small and lightweight gearboxes are usually developed to focus on the reduced size and not compromise on efficiency.  Therefore, this makes them best suited for a wide range of applications, especially where there is restricted space and weight is a crucial factor. Therefore, the demand for lightweight and small gearboxes has increased from several applications, such as robotics, aerospace control systems, automotive transmission, medical devices, and consumer electronics. Furthermore, emergency technologies, including wearables, drones and other autonomous systems rely mainly on small and lightweight gearboxes, so that these devices can be small and have precise control.

• Rising Demand for High-Speed Machines - The need for high-speed machines is booming, due to rising demand for efficient and quick manufacturing processes across a wide range of industries. Manufacturers are increasingly using these devices to address the increased need for high-volume manufacturing. The focus of the manufacturing sectors is always on faster machining of components paired with better throughput without compromising accuracy, surface polish, and repeatability. High-speed machining uses a spindle rotation rate of more than 20000rpm and greater feed rates than conventional machining, and eliminating material is accomplished with small-size cutting tools that provide faster and lighter cuts.

Challenges

• Higher Competition from Other Alternatives of Power Transmission Gearbox - Alternative technologies, such as direct drives, variable frequency drives, and hydraulic systems are giving tough competition to power transmission gearboxes. All these alternatives are suitable for various applications and thus can drive the customers away from the power transmission gearbox. Direct drive systems eradicate the need for gearboxes since they directly connect the motor to the load. Moreover, hydraulic systems offer precise control, and power density and tolerate heavy loads in many heavy-duty applications. Industries, such as agriculture and construction majorly rely on hydraulic transmission. Furthermore, electronic control systems efficiently control the motor accurately and pose a serious threat to replacing the gearboxes in many applications, especially automation and robotics.

• High cost of maintaining and repairing the gear power transmission gearbox

• Rising evolution of electric vehicles