Planetary gearbox is a transmission structure mainly composed of planetary gears, sun gears, and ring gears. It has a simple structure, high transmission efficiency, and is mostly installed on servo motors to reduce speed, increase torque, and achieve precise positioning.
Planetary gearboxes are widely used in CNC machine tools, industrial robots, service robots, manipulators, food machinery, packaging machinery, laser cutting machines, woodworking engraving machines, printing machinery, injection molding machinery, photovoltaic equipment, lithium battery equipment, and other automation equipment.
In terms of control precision, gearboxes can be divided into general-purpose gearboxes and precision gearboxes. With the upgrading of manufacturing automation and intelligent industries, precision gearboxes are gradually being applied in the fields of food, packaging, textiles, electronics, and medical machinery to meet the demand for precision control.
Gear motors are integrated products of motors and gearboxes, developed under the trend of electromechanical integration. General-purpose gearboxes are paired with ordinary motors to meet general transmission requirements, while precision gearboxes are paired with servo motors to achieve low-speed, high-torque, high-precision, and intelligent precision transmission and control requirements at a lower cost.
Benefiting from China's industrialization and urbanization process since the reform and opening up, as well as the country's emphasis on the machinery manufacturing industry, the Chinese gearbox and gear motor industry has made significant progress.
In recent years, the scale of China's machinery manufacturing industry has grown rapidly, surpassing Japan and the United States. The development of the machinery manufacturing industry has led to the continuous expansion of the gearbox and gear motor industry in the field of mechanical transmission.
In the field of general-purpose transmission, China has basically achieved localization of precision gearboxes and precision gear motors. Currently, the production and sales of planetary gearboxes are mainly concentrated in Europe, Asia, and North America. In recent years, the development of planetary gearboxes in China has been rapid, but most of the planetary gearbox brands are not well-known, and the sales channels are limited. Therefore, the profit is relatively low compared to European and American companies that produce well-known planetary gearboxes.
In the past 5 years, the market has been pretty concentrated. The production cost of precision planetary gearboxes is high, and they require complex technology and strict regulations. As a result, the major market players are dominated by international giants.
In the next 6 years, there will be an increasing demand for precision planetary gearboxes in the food processing machinery industry, robotics, textiles, and printing machinery industry. We predict that the demand for planetary gearboxes will maintain a growth trend of 5%-6% annually.
The current status and future prospects of the planetary gearbox industry indicate that the global market size was $955.35 million in 2022, and it is expected to reach $1,348.47 million by 2029, with a compound annual growth rate (CAGR) of 5.02% from 2023 to 2029.
The precision planetary gearbox industry faces a great deal of uncertainty in the coming years. The forecast data for 2023-2029 in this article is based on the historical development of the past few years, industry experts' opinions, and the analysis of the authors of this article.
In 2022, China accounted for 36.68% of the global market share, while the United States accounted for 19.73%. It is projected that the compound annual growth rate (CAGR) of the Chinese market in the next six years will be 5.92%, reaching a scale of $262.78 million in 2029. The CAGR for the US market during the same period is estimated to be 4.82%.
In the coming years, the Asia-Pacific region will play an increasingly important role in the market. In addition to China, Japan, South Korea, India, and Southeast Asia will also play significant roles. Furthermore, Germany is expected to maintain its leading position in Europe in the next six years, with a CAGR of 5.21% from 2023 to 2029.
Currently, Europe is the largest production region for precision planetary gearboxes, accounting for 34.76% of the market share, followed by China with 34.19%. The top three manufacturers in the global market hold 35.52% of the market share.