Widespread Popularity of Automation in Every Sector to Boost Helical Gear Sales
The helical gears market is driven by growing demand for advanced acceleration, an increase in the production of vehicles, mainly in the Asia Pacific region and low carbon footprint. With beaming growth in the helical gear market, mining and construction industries are heavily benefitting by the popularity of helical gears because of its utilization in nearly all major or minor machineries. Due to these factors, the helical gear market is anticipated to depict a healthy growth in the near future.
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Automotive is one of the key industries that deploy helical gear in applications such as engines, transmissions, drive train, etc. Helical gear market for automotive sector is soaring globally because of their widespread use in nearly every sector. The automotive sector in the developing economies, such as India and China, has grown rapidly, accounting for a healthy growth rate for helical gear market. The helical gear market has, therefore, had a positive effect because of its penetration in the modern world automotive industry. However, the rise of electric vehicles is emerging as a challenge for the helical gear market due to their less requirement of gearing.
OEM Segment to Single-handedly Dominate the Global Market
Helical gear market is segmented on the basis of product type, end-user, sales channel and region. The product types include cross-helical gears and double helical gears. The double helical gears are further segmented into two categories with gap between the helices and without gap between the helices (Herringbone gears). Among the two helical gear product types, the cross helical gears have been reported to account for a leading share in sales.
On the basis of end users, the helical gear market is classified into, automotive, process industry, energy, A&D, electrical appliances, construction and mining. The automotive helical gears segment in anticipated to showcase robust growth in the near future. By sales channel, helical gear market can be categorized into two types: OEM and aftermarket. However, the market for OEM is very dominant as compared to the aftermarket.
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Developing Economies to Continue Dominance
The regional demand for Helical Gear varies across the globe. However, North America has been widely using helical gears and other types of gears, and therefore, the region is anticipated to show considerable growth in the forthcoming years. The primary concern in the automotive industry of the U.S. is growing competition among established players and the new entrants. Regarding regions, the Helical Gear market is classified into seven regions: North America, Latin America, Europe, CIS and Russia, Japan, APEJ and MEA.
Considerable growth in the automotive industry and the robust growth in automation in nearly every sector are the primary factors driving the helical gear market Asia Pacific region. The Chinese and the Indian manufacturing sector is exhibiting strong growth in the region. Some of the key market players in the helical gear market are Eaton Corporation Plc., Bharat Gears Limited, GKN Plc., Showa Corporation, American Axle & Manufacturing, Inc., Linamar Corporation, NSK Limited, Univance Corporation, and other prominent players.
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The demand for helical gears from various industries has soared significantly in the past few years, due to the growth in the industrial sector and rise in urbanization. Various multinational companies are looking towards the Asia Pacific region in expectation of increasing the demand from the construction and agriculture industry.
The steady expansion in the construction industry will enhance the demand for its motor vehicles in turn increasing the sales of helical gear. Complex machines and equipment in every other sector including construction, agriculture, healthcare and electronics, require complex gearing, thereby driving the helical gear market.
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