Gear Manufacturing Equipment Market Size, Share, and Industry Analysis By Product Type (Gear Hobbing Machine, Gear Shaping Machine, Gear Shaving Machine, Gear Chamfer Machine, Gear Skiving Machine, and Gear Grinders), By Operation (Manual, Automatic, and CNC), By End-Use Industry (Oil and Gas, Mining, Industrial Machinery, Utility & Power, Shipbuilding, Construction Machinery, Aerospace, and Others), and Regional Forecast till 2032

The Global Gear Manufacturing Equipment Market is experiencing strong growth during the forecast period owing to its wide range of industry applications, including automotive, aerospace, industrial machinery, and marine. With the ongoing evolution of machinery, manufacturers prioritize advancing gear-cutting technologies that improve productivity and decrease lead times. Additionally, elements, such as industrial automation and the growth of manufacturing activities around the globe are playing a significant role in the market's growth.

• MHI Machine Tool introduced GE15HS and GE25HS models of hobbing machines in June 2021. The new machines focus on precision and efficiency and are largely used for automobiles and motorcycles.

Gear Manufacturing Equipment Market Driver

Demand for Renewable Energy and Electric Vehicle Demand to Upsurge the Market 

The rise in funding for electrification is not just a fleeting trend. It signifies a considerable change in the automotive and industrial sectors. The growing need for electric vehicles (EVs) and the wider acceptance of electrified transport options are altering the demands placed on gears. As the gear industry adapts to this transformative period, sales of gear manufacturing machines will grow over the forecast period.

The International Energy Agency reports that sales of electric vehicles saw a double-digit rise in 2023 compared to 2020, driven by favorable national policies and incentives.

Global Machinery and Equipment value added witnessed a double-digit growth rate of about 13.7% in 2021, overall impacting the growth of the gear manufacturing equipment market globally.

Gear Manufacturing Equipment Market Restraint

Tightening Workforce Markets and Demand for Skilled Workforce to Limit the Market Growth

Manufacturing companies are facing challenges due to increased raw materials prices and a shortage of skilled workforce.  Furthermore, increased government regulatory policies are further impacting the growth of gear manufacturing equipment across regions.

Gear Manufacturing Equipment Market Opportunity

AI Technologies and Automation to Propel the Market Growth of Gear Manufacturing Equipment

The expansion of the gear manufacturing sector is anticipated to be fueled by the rise of industrial automation. The implementation of automation is increasingly essential in the global manufacturing industry. This trend has led to greater use of robotics and automated machinery for numerous high-speed repetitive jobs. As automation adoption continues to grow, the need for gears will rise, further enhancing the development of the worldwide gear manufacturing market. Additionally, a rise in funding for renewable energy and a resurgence of investment in the oil and gas sector will further boost market growth. Upcoming AI technologies, such as ERP software, will further optimize gear-making machines in the coming years.

Segmentation

By Product Type	By Operation	By End-Use Industry	By Geography
Gear Hobbing Machine Gear Shaping Machine Gear Shaving Machine Gear Chamfer Machine Gear Skiving Machine Gear Grinders	Manual Automatic CNC	Oil and Gas Mining Industrial Machinery Utility & Power Shipbuilding Construction Machinery Aerospace Others	North America (U.S., Canada, and Mexico) Europe (U.K., Germany, France, Spain, Italy, Russia, Benelux, Nordics, and Rest of Europe) Asia Pacific (Japan, China, India, South Korea, ASEAN, Oceania and Rest of Asia Pacific) Middle East & Africa (Turkey, Israel, South Africa, North Africa, and Rest of Middle East & Africa) South America (Brazil, Argentina, and Rest of South America)

Key Insights

The report covers the following key insights:

• Micro Macro Economic Indicators


• Drivers, Restraints, Trends, and Opportunities


• Business Strategies Adopted by the Key Players


• Consolidated SWOT Analysis of Key Players

Analysis by Product Type

Gear manufacturing equipment based on product type is classified into gear hobbing machines, gear shaping machines, gear shaving machines, gear chamfer machines, gear skiving machines, and gear grinders. Gear Hobbing Machines will witness strong growth due to increasing demand for efficiency and flexibility. Gear shaving machines will witness considerable growth during the forecast period, addressing the required high gear standards in several end-use industries, including automotive and aerospace.

Analysis by Operation

By operation, the market is divided into manual, automatic, and CNC.

Growing preference for automation across manufacturing sectors and increasing demand for efficient gears to boost the market for automatic gear manufacturing machines. Current trends show the incorporation of Industry 4.0 technologies, and a growing emphasis on sustainability is bolstering the market for gear manufacturing equipment. The need for tailored gear solutions is increasing, fueled by the requirement for specialized applications in multiple sectors.

Analysis by End-Use Industry 

By end-use industry, the market is divided into oil and gas, mining, industrial machinery, utility & power, shipbuilding, construction machinery, aerospace, and others.

Automotive and Aerospace industry to account for a significant share of end-use industries. As vehicle and aircraft production continues to rise, the need for top-notch gears is increasing. The pursuit of improved performance and efficiency in these sectors makes it essential to have precise gear-cutting machines that can satisfy high-quality requirements. Additionally, with the worldwide shift toward electric vehicles and cutting-edge aerospace innovations, this demand is projected to escalate significantly, offering considerable prospects for the gear-cutting machine industry.

Regional Analysis

In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Asia Pacific accounted for the largest share of the global gear manufacturing equipment market in 2023. Important industries employing gear manufacturing machines consist of healthcare, automotive, manufacturing, and consumer electronics, all needing customized, innovative solutions to meet their unique requirements. Trends, such as the rise of automation, sustainability efforts, and technological progress, influence the market, resulting in improved product offerings. The rising need for efficiency and performance is driving further growth in the market.

• In March 2024, Cattini e Figlio Spa introduced a manufacturing plant with investment in Pune, India.

Europe is expected to witness the highest Gear Manufacturing Equipment market growth rate during the forecast period. Industrial Machinery generates a strong demand for gear manufacturing equipment. Demand across varied applications such as robotics and manufacturing machines generates demand for precise gears. As industries move toward automation and cutting-edge manufacturing methods, the demand for gear manufacturing machines capable of producing high-quality gears with reduced downtime becomes more significant.

Key Players Covered

The global Gear Manufacturing Equipment market is fragmented, with a large number of regional and local players. In China, the top 5 players account for around 45% -50% of the market.

The report includes the profiles of the following key players:

• EMAG Machine Tools (Germany)


• AmTech OEM (U.S.)


• Kohara Gear Industry Co., Ltd. (Japan)


• Liebherr (Germany)


• Mitsubishi Heavy Industries (Japan)


• HAMAI Company (Japan)


• Yingkou Guanhau (China)


• Bourn & Koch (U.S.)


• FFG Werke (Germany)


• Klingelnberg (Germany)

Key Industry Developments

• In March 2022, WIDMA introduced Hobgrind HG200, a five-axis CNC machine specializing in regrinding high-precision hos and shaper cutters.


• In May 2021, MHI Machine Tool launched new hobbing machines, GE15HS and GE25HS models, that provide higher speed, precision, and efficiency.