According to a market report by Lucintel, the future of the global gear rack and pinion market looks promising with opportunities in the automotive, industrial machinery, robotic, mining and construction equipment, agricultural machinery, wind turbine, and marine markets. The global gear rack and pinion market is expected to grow with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are increasing automation in the industrial processess, rising complexity and sophistication of robots necessitate high-performance gear racks and pinions, and on-going advancement in manufacturing processess like precision machining and gear shaping.Lucintel forecasts that metal is expected to witness higher growth over the forecast period due to their higher strength and durability.
Within this market, automotive will remain the largest segment due to ongoing trend towards vehicle electrification and automation.
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APAC is expected to witness highest growth over the forecast period due to rapid industrialization and automation and significantly growing automotive industry in the region.
B&B Manufacturing, Martin Sprocket and Gear, Regal PTS, Boston Gear, Stock Drives, Dalton Gear, and Union Gear are the major suppliers in the gear rack and pinion market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected]To get access of more than 1000 reports at fraction of cast visit Lucintel’sAnalytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
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