PRECISION GEARBOX MARKET ANALYSIS

Regional Analysis

Global Precision Gearbox Market: Regional Insights

North America is anticipated to account for major share in the global precision gearbox market over the forecast period. The growth of this region is attributed to factors such as, increasing investment in adoption of advanced material handling equipment in industries such as power generation, cement, and steel. Moreover, growing military and aerospace industry spendings to adopt advanced technology systems, smart munitions, as well as motion control systems, is also driving growth of the global precision gearbox market in North America region.

Asia Pacific is also expected to gain major growth in the global precision gearbox market over the forecast period, and this is owing to widespread adoption of precision gearboxes in industries such as metallurgy, and cement across major developing countries in the region. The increasing consumption of processed and packaged food in the region is also expected to augment growth of the market in Asia Pacific.

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