Gear Hobbing Machine Market Size, Share, Growth, and Industry Analysis by Type (Vertical Gear Hobbing Machine & Horizontal Gear Hobbing Machine), By Application (Automobile, General Industry & Aerospace), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Gear Hobbing Machine Market REPORT OVERVIEW

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The global gear hobbing machine market size was USD 665.3 million in 2022 and market is projected to touch USD 838.1 million by 2031, at a CAGR of 2.6% during the forecast period.

A gear hobbing machine is used to produce gear according to the various specifications. Instead of extruding, forging, etc., the gear machines use a variety of cutting processes like broaching, milling, hobbing, and grinding. Leading manufacturers of gear machines are constantly improving their products to offer the necessary precision even for complicated gear designs. Two skew spindles are utilized during the gear cutting process on a hobbing machine. It is reasonably priced when compared to other gear forming machining processes, and it can be used to manufacture a variety of parts and quantities.

The most common universal gear application, such as the creation of helical and spur gears, is hobbling. Different systems and machines use gears, which come in a variety of types, sizes, and materials. The primary uses of gears include those found in speed gearboxes, feed gearboxes, speed initiatives in textile machinery, auto gearboxes, mining and processing equipment, industrial robots and toys, cement gearboxes, sugar gearboxes, and many more. Comparing the hobbing machine to other machines like the gear shaping machine, the gear machine has fewer tools, fewer work motions, and is much more rigid, productive, and strong.

COVID-19 Impact: Industry Imbalance to Restrict Market Growth

The COVID-19 outbreak caused unstable markets, a drop in consumer confidence, and problems with import and export commerce for producers of machinery and equipment. Markets were shuttered as a result of the lockdown, and many people stayed inside. Supply chain breaches, stock market inefficiencies, and vendor instability are results of this evolution. The market as a whole was impacted by the shutdown of the machinery and equipment industry. Because there was no longer a market for the product, gear machine became obsolete as those markets closed. In order to maintain stability amidst the disruptions, organizations were forced to redesign their entire operational structures as a result of the pandemic. The financial imbalance brought on by the closure of numerous stores and significant sectors was the primary factor that distorted the entire market. In addition, the outbreak has a negative impact on the business operations of the enterprises, which affects the market as a whole. The market has been somewhat impacted by this.

LATEST TRENDS

"Adoption of 3D Printing to Boost the Market Growth"

Adoption of 3D printing or additive manufacturing for gear manufacturing is one of the major trends that is accelerating market growth and will take off in the market in the upcoming years. Since 3D printing creates the product in tiny, one-by-one layers, it makes it easier to produce complex geometries and does away with the need for melting and reusing materials, which lowers capital and raw material costs and increases market sales. Although 3D printers have a high upfront cost, their advantages help manufacturers increase productivity and lower operating expenses, which drives up demand for gear machines. The industry is anticipated to grow during the forecast period thanks to this trend. Thus, it is anticipated that the increase adoption of 3D printing will increase overall market sales. These new developments and varieties in product are mostly to blame for the market's overall growth.

Gear Hobbing Machine Market SEGMENTATION

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• By Types 

Based on type, the market is classified into Vertical Gear Hobbing Machine & Horizontal Gear Hobbing Machine.

• By Application

Based on the market is categorized into Automobile, General Industry & Aerospace.

DRIVING FACTORS

"Increasing Vehicle Production that Gives the Market Extra Boost"

The primary factor fueling market expansion is an increase in vehicle production and sales, which is anticipated to increase market demand over the forecast period. Sales of gear machines are directly impacted by increased auto production. Over the past few years, the global automotive industry has been seen to grow steadily. The growing popularity of hybrid and fully electric vehicles has fueled a pressing need for transmissions that operate quietly. Only the hobbing machine can produce the special gear designs needed for noise reduction in power transmission. The population of the middle class is expected to grow in emerging economies, which will lead to increased production of automobiles. Additionally, this is attributed to rising urbanization as a result of the stable economic climate. As a result, the growth, and the increasing vehicle production will boost the market. It will contribute to the expansion of the machinery and equipment industry and it will improve the overall gear hobbing machine market growth.

"Technological Advancement to Encourage Market Expansion"

Over the forecast period, the revenue for the overall market is anticipated to increase quickly. Due to rising demand for fully automated machines, technological advancements, expanding use of automated parts in vehicles, and intensifying competition among market participants, the market is predicted to perform well in the near future. One of the main factors that can spur the market revenue growth of gear hobbing machine in the near future is the increasing demand for safe and clean transportation facilities, which will increase the need for light weight vehicles. Due to its high accuracy, adaptability, and efficiency in producing high-quality gears, the verticle gear machine segment is anticipated to dominate the market over the forecast period. This will increase demand for the product and help the industry as a whole to expand. The increase competition in industry is helping the market to grow.

RESTRAINING FACTORS

"High Cost of Product to Impede Market Expansion"

The market's growth is being hampered by the equipment's high initial cost. It is only cost-effective for large-scale production runs. The market is experiencing a decline in sales as a result of the product's high maintenance requirements and challenging features and systems. Therefore, during the forecast period, these factors are anticipated to restrain market growth. But as time goes on, this issue will be resolved in some way. If this problem is fixed, the market will start to grow right away.

Gear Hobbing Machine Market REGIONAL INSIGHTS

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"North America Dominating the Market Across the Globe"

The market for gear hobbing machine in North America has benefited from the region's expanding industrial development and a number of driving factors that have boosted the potential sectors because this region is the product's primary user. The rising product demand in automobile, general industry & aerospace sector is boosting the gear hobbing machine market share. Trends toward rapid urbanization will support the market as a whole even more.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Gleason (U.S.)
• Bourn & Koch (U.S.)
• FFG Werke (Germany)
• Premier (U.S.)
• Luren (U.S.)

REPORT COVERAGE

The research goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including current and potential market leaders. A sizable market expansion is anticipated as a result of a number of important factors. The research also examines factors that may increase the gear hobbing machine industry share in order to provide market insights. The report makes forecasts for market expansion over the anticipated time period. The objective of the regional research is to explain why one region dominates the global market. A number of properly taken into account factors prevent the industry from growing. The research also includes a strategic analysis of the market. It includes thorough market information.