World Gears Industry, Freedonia

Feb 09, 2016, 09:12 ET from Reportlinker

NEW YORK, Feb. 9, 2016 /PRNewswire/ -- Study coverage

This report presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by product, market and source in 6 world regions and 19 major countries. The study also considers market environment factors, evaluates company market share and profiles 35 global participants.

World demand to exceed $218 billion by 2019

Worldwide sales of gears are projected to rise six percent per annum through 2019 to $221 billion. Global demand for gears will increase because of advances in motor vehicle and other durable goods output. In the automotive market, a shift toward more expensive, energy-efficient units, such as seven- and eight-speed automatic transmissions, will contribute to value gains. In addition, sales of gears used in a number of relatively small but fast-growing applications, such as wind and solar power, are expected to increase significantly.

China among most rapidly growing national markets

Gear demand will expand the fastest in China and other industrializing nations, where demand for motor vehicles, motorcycles and other durable goods is forecast to see the strongest gains as personal incomes and consumer spending continue to rise. This will result in additional investment in new manufacturing capacity and a sharp increase in related gear sales in the Asia/Pacific, the Africa/Mideast, Central and South America, and Eastern Europe regions. China alone is projected to account for nearly two-fifths of all market growth through 2019 in dollar terms. Going forward, both small and large firms in industrializing countries are expected to increase their use of higherend gears, adding to demand value gains.

The large, mature North American and West European gear markets are forecast to expand between three and four percent per year during the 2014-2019 period.

Demand for gears in Germany and in the US, the two largest markets in these regions, is expected to moderate after climbing twelve percent and five percent, respectively, from 2009 to 2014. And in Japan, the world's third largest national market behind China and the US, sales of gears will decelerate through 2019 because of a drop in motor vehicle output. Nonetheless, durables manufacturing activity in North America, Western Europe, and Japan is projected to increase going forward and generate additional demand for gears.

Consumer spending on durable goods in these areas will also rise as economic conditions improve further, leading to an increase in gear demand. Durable goods suppliers in North America, Western Europe, and Japan will benefit as well from new export sales opportunities in nearby developing countries. However, competition from new and existing alternative technologies -- such as continuously variable transmissions (CVTs) and gearless direct drive systems -- is expected to restrain sales growth in many mature gear markets.

Read the full report:

http://www.reportlinker.com/p03365048-summary/view-report.html

About Reportlinker

ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

http://www.reportlinker.com

__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001

 

 

SOURCE Reportlinker



RELATED LINKS

http://www.reportlinker.com