Speed changer,
industrial high-speed drive, and gear manufacturing market includes companies
mainly involved in manufacturing industrial high-speed drives (except
hydrostatic), automotive power transmission equipment, gears and speed
changers. Speed changers are the devices which changes the speed of vehicles
such as gears and shafts. Gear is a rotating machine that enables the
transmission of torque through meshing of cut teeth or cogs with another
toothed part or rack. High speed drives
offer decreased installation space for higher power and unnecessary gearboxes.
These components are used primarily in mechanical power transmissions for
industrial machines.
The market was
valued $47 billion in 2017 and
is expected for stability in global oil and metal due to prices driving demand, increasing
awareness and initiatives driving production of power from renewable sources,
and infrastructure development in growing economies of China, and India.
The market is split into the following segments: speed
changers and industrial high-speed drives; gears, pinions, racks and worms.
China was the
biggest player in the market in 2017, accounting
for one-fifth of the market, because of the high number of manufacturing
establishments and activity in the country. The country’s large population and
government initiatives also gave the market a boost for construction and energy
generation. China is followed by India as the next largest country in the
market.
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