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 processes, rising complexity and sophistication of robots necessitate high-performance gear racks and pinions, and on-going advancement in manufacturing processes like precision machining and gear shaping.
In this market, metal & plastic are the major segments of gear rack
and pinion market by type.
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.
Download sample by clicking on gear rack
and pinion market.
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 helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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