Automotive Spur Gear Market Is Anticipated To Grow at CAGR of 5.7%

PRESS RELEASE
Published April 24, 2023

More stringent energy exploitation requirements have been enforced in different mechanical engineering fields as a result of growing tendencies towards reduced emissions and fuel consumption. Lightweight materials are being used more frequently by manufacturers to abide by strict emission-related laws.

Additionally, in all areas, such as the automobile industry, where weight has a significant impact on the system’s overall performance, lightweight has emerged as a key component. Geared power transmissions are not exempt from the quickly spreading lightweight trend because they are essential parts of many mechanical systems. In the near future, the market share of spur gears that adhere to the lightweight trend is projected to increase significantly.

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Due to the expansion of the industrial sector and the rise in urbanisation, the demand for spur gear from a variety of industries has increased dramatically in recent years. India currently holds the second-largest cement production capacity in the world, behind China. Many global corporations are focusing on the Asia Pacific region in anticipation of rising demand from the construction and agricultural sectors. The need for its motor vehicles will increase as the construction industry continues to expand, which will boost spur gear sales.

The insights provided in the research are based on the compilation of real, first-hand information, quantitative and qualitative evaluation by top industry experts, and contributions from opinion leaders and industry players along the value chain. The market attractiveness for each included market segment has also been examined and presented, along with growth factors, macroeconomic data, and parent market trends. The report has also mapped the qualitative impact of growth influencers on the various market segments across regions.

Key Players Covered:

  • aton Corporation Plc.
  • Bharat Gears Limited
  • GKN Plc.
  • Showa Corporation
  • American Axle & Manufacturing Inc.
  • Linamar Corporation
  • NSK Limited
  • Univance Corporation
  • other prominent players.

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Plastic Spur Gears to Showcase Robust Growth in Upcoming Years 

  • Spur gear market is segmented on the basis of product type, material type, sales channel and region. The product types include
    • external spur gear,
    • internal spur gear,
  • material types, the spur gear market is classified into,
    • steel,
    • nylon,
    • aluminum,
    • bronze,
    • phenolic,
    • cast iron,
    • bakelite,
    • plastics and
    • other materials.
  • By sales channel, spur gear market can be categorized into two types,
    • OEM and
    • aftermarket.

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.

 

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