Established Opportunities in Manufacturing Transmission Systems for Automobiles, Aircraft & Heavy Machinery to Drive the Global Market for Gears, Drives & Speed Changers
Growth in automobiles production, growing aerospace sector, robust demand for construction and mining equipment, mechanization of agriculture, and steady growth in global power generation are poised to drive the global market for Gears, Drives and Speed Changers to exceed US$213 billion by 2024 . Gears, industrial high-speed drives and speed changers will experience steady demand so long as there is demand for manufactured durable goods such as automobiles, construction and mining equipment, among others. Any surge in demand for such goods warrants their increased production, creating the need for gears and drives. The manufacturing industry therefore is a critical growth driver and the shifting role of manufacturing and its level of contribution to economic development tend to impact growth patterns in the market. Gears, drives, and speed changers are important manufacturing parts and components, critical to production of a range of machinery and equipment. While gears and gear...