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Harmonic Drive Precision Gear Reducers Market Report Overview
global Laser Crystal Materials market size was USD 206.9 million in 2020 and market is projected to touch 498.32 Million By 2032, exhibiting a CAGR of 7.6% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the harmonic drive precision gear reducers market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
A harmonic drive precision gear reducer is a type of gear reducer that uses a strain wave gear to reduce the speed and increase the torque of a rotating shaft. It is a backlash-free gear reducer, which means that there is no play between the gears, resulting in smooth and precise operation.
They are highly efficient, which helps to improve the overall fuel economy of vehicles and the performance of medical devices. They are compact, which helps to save space in vehicles and medical equipment.
COVID-19 Impact: Pandemic Decreased the Market Demand
The COVID-19 pandemic has had a significant impact on the harmonic drive precision gear reducers market share. The pandemic led to the shutdown of manufacturing plants in many countries, which in turn disrupted the supply chain of harmonic drive precision gear reducers. The pandemic also led to a reduction in demand for them from various end-use industries such as automotive, robotics, and machine tools. The pandemic also led to an increase in the prices of raw materials used in the manufacturing, which further affected the market. However, the market is expected to recover in the coming years as the global economy recovers from the pandemic
Latest Trends
"Increasing adoption of harmonic drive precision gear reducers in electric vehicles is expected to fuel the growth in the market"
They are increasingly being adopted in electric vehicles due to their high efficiency, compact size, and backlash-free operation. These features are essential for electric vehicles, which require high-performance gear reducers that can deliver high torque and speed in a small package. They are also well-suited for the harsh operating conditions of electric vehicles. They are resistant to vibration and shock, and they can operate in a wide range of temperatures. This makes them ideal for use in the powertrain, suspension, and steering systems of electric vehicles. Their increasing adoption in electric vehicles is expected to drive the growth of the global market for these devices in the coming years.
Harmonic Drive Precision Gear Reducers Market Segmentation
- By Type Analysis
According to type, the market can be segmented Cup Style, Hat Style, Pancake Style.
- By Application Analysis
Based on application, the market can be divided into Industry Robot, Semiconductor Equipment, Flat Panel Equipment, Machine Tools, Optical Machine, Printing, Bookbinding and Paper Machine, Metal Working Machine, Medical Equipment, Space Equipment.
Driving Factors
"Rising demand from the automotive industry to foster the market growth"
The automotive industry is one of the major end-use industries for them. The increasing demand for electric vehicles is expected to drive the demand for them in the automotive industry in the coming years. Electric vehicles require high-performance gear reducers that can deliver high torque and speed in a small package. They are well-suited for this application, as they are highly efficient, compact, and backlash-free. In addition to electric vehicles, they are also used in a variety of other automotive applications, such as power steering, braking systems, and transmission systems. The growing demand for these applications is also expected to drive the demand for them in the automotive industry.
"Growing demand from the medical sector to result in the expansion of the market"
The medical sector is another major end-use industry for them. The growing demand for high-precision and high-performance gear reducers in the medical sector is expected to drive the demand for harmonic drive precision gear reducers in the coming years. They are used in a variety of medical applications, such as surgical robots, medical imaging equipment, and patient monitoring systems. These applications require high-precision gear reducers that can deliver smooth and precise movement. The growing demand for these applications is expected to drive the demand for harmonic drive precision gear reducers in the medical sector. In addition, the increasing adoption of robotic surgery is also expected to drive the demand for them in the medical sector.
Restraining Factors
"Competition from conventional gear reducers to hamper the market growth"
Conventional gear reducers are a type of gear reducer that uses a series of gears to reduce the speed and increase the torque of a rotating shaft. They are a mature technology and are available at a lower cost than harmonic drive precision gear reducers. Overall, harmonic drive precision gear reducers offer a number of advantages over conventional gear reducers. However, they are also more expensive.
Harmonic Drive Precision Gear Reducers Market Regional Insights
"Asia Pacific to lead the market owing to technological advancements. "
The Asia Pacific region has shown the highest harmonic drive precision gear reducers market growth. The Asia-Pacific region is expected to dominate the market during the forecast period due to the growing demand for these devices in the automotive and medical sectors. China is the largest market for harmonic drive precision gear reducers in the Asia-Pacific region. The technological advancements in the manufacturing of harmonic drive precision gear reducers are expected to improve the performance and efficiency of these devices, which in turn is expected to drive the market growth in the coming years.
Key Industry Players
"Key players are employing advanced technologies in order to stimulate further growth of the market. "
All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.
List of Market Players Profiled
- HDSI: Hirata Drive Systems, Inc., Tokyo, Japan
- Leaderdrive: Leaderdrive Corporation, Taichung, Taiwan
- Zhejiang Laifual: Zhejiang Laifual Harmonic Drive Co., Ltd., Hangzhou, China
- Shenzhen Han's Motion Technology: Shenzhen Han's Motion Technology Co., Ltd., Shenzhen, China
- Nidec-Shimpo: Nidec-Shimpo Corporation, Tokyo, Japan
- KOFON: KOFON Corporation, Taipei, Taiwan
- Beijing CTKM Harmonic Drive: Beijing CTKM Harmonic Drive Co., Ltd., Beijing, China
- BENRUN Robot: BENRUN Robot Co., Ltd., Shanghai, China
- BHDI: BHDI Corporation, Taoyuan, Taiwan
- Too Eph Transmission Technology: Too Eph Transmission Technology Co., Ltd., Dongguan, China
- Cone Drive: Cone Drive Corporation, East Syracuse, New York, USA
- Guohua Hengyuan Tech Dev Co., Ltd.: Guohua Hengyuan Tech Dev Co., Ltd., Xi'an, China
- LI-MING Machinery Co., Ltd.: LI-MING Machinery Co., Ltd., Taichung, Taiwan
Report Coverage
This report examines an understanding of the harmonic drive precision gear reducers market ’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.
Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.
This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 344 Million in 2020 |
Market Size Value By |
US$ 1669.38 Million by 2032 |
Growth Rate |
CAGR of 13.2% from 2020 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the harmonic drive precision gear reducers market expected to touch by 2027?
The harmonic drive precision gear reducers market is expected to touch USD 898.1 million by 2027.
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What CAGR is the harmonic drive precision gear reducers market expected to exhibit during 2020-202?
The harmonic drive precision gear reducers market is expected to exhibit a CAGR of 13.2% over 2020-2027.
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Which are the driving factors of the harmonic drive precision gear reducers market?
The driving factors of the harmonic drive precision gear reducers market are rising demand from the automotive industry and growing demand from the medical sector.
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Which are the top companies operating in the harmonic drive precision gear reducers market?
The top companies operating in the harmonic drive precision gear reducers market are HDSI, Leaderdrive, Zhejiang Laifual, Shenzhen Han's Motion Technology, Nidec-Shimpo, KOFON, Beijing CTKM Harmonic Drive, BENRUN Robot, BHDI, Too Eph Transmission Technology, Cone Drive, Guohua Hengyuan Tech Dev Co., Ltd, LI-MING Machinery Co., Ltd.