• July 20, 2024

Global Gear Hobbing Machine Market Size, Share, Trends & Industry Growth Analysis Report to 2030

The global gear hobbing machine market size was worth around USD 675.42 million in 2022 and is predicted to grow to around USD 861.37 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.1% between 2023 and 2030.

During the production of gears, a gear hobbing machine is utilized. These devices create teeth on a variety of gears, including as helical gears, spur gears, sprockets, and splines, using a multi-tooth revolving cutting tool called a hob. Because hobbing machines yield such high rates of precision, they are the favored method of cutting gears when compared to other methods.

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Overview of the Gear Hobbing Machine Market

The procedure that involves operating these machines involves arranging the gear in its unfinished state. Placing it on the machine’s spindle accomplishes this. As soon as the machine turns on, the hob makes contact with the gear and cuts it further. The process involves two different kinds of movement: feeding and indexing. While feeding refers to pushing the object toward the hob, indexing refers to the hob’s axial movement along the gear and hob’s line. To prevent the machine from overheating, it is crucial to continuously add coolant or oil. Throughout the projection period, there will be a significant increase in the demand for gear hobbing machines.

Crucial Notes:

• Our research analyst’s analysis indicates that during the projected period (2023–2030), the global gear hobbing machine market is expected to develop at a compound annual growth rate (CAGR) of about 3.1%.

• The global gear hobbing machine market is expected to reach a valuation of approximately USD 861.37 million by 2030, having been valued at roughly USD 675.42 million in 2022.

• The market for gear hobbing machines is anticipated to expand significantly as a result of the rising need for petroleum products.

➤ Increased demand for petroleum products will propel market expansion

The growing need for petroleum products across the globe is anticipated to propel the global gear hobbing machine market. Commonplace items like kerosene, diesel, fuel oil, aviation turbine fuel, gasoline, paraffin, and many more are among the most often utilized products. For the foreseeable future, there will be a huge need for petroleum products due to the growing worldwide population. This is because the majority of contemporary instruments are powered by petroleum, and even though the rate of innovation in developing alternatives is on the rise, petroleum is not easily substituted. Petroleum producers will probably be forced by these trends to look for new reservoirs and conduct in-depth exploration, particularly in deep oceans where this would necessitate the development of intricate drilling systems and other accessories.

➤ Infrastructure development for power generating will increase market revenue

Amidst the increasing need for electricity in residential, commercial, and industrial settings, governments and private enterprises have intensified their endeavors to construct an infrastructure for power generation capable of satisfying the escalating consumer demand. For example, the government of Madhya Pradesh, India, and Coal India announced in August 2023 that they would be collaborating to develop two thermal plants in the state at an estimated cost of INR 5600 crore. In the same month, Germany declared its intention to offer 8.8 GW of power for hydrogen plants, with an additional 15 GW available. These facilities will be powered by natural gas initially, and in 2035, they will transition to a hydrogen grid.

➤ Utilizing the device sparingly to limit market expansion

Although they are thought to be the best tools for making teeth on gears, gear hobbing machines are not very useful. It is capable of producing serrations, grooves, and splines. For example, splines are teeth on a drive shaft that mesh with a matching unit in the end. These constructions, however, cannot be produced by gear hobbing machines, and similar limitations are noted for other gear types. Consumer preference for alternative approaches that might turn out to be more cost-effective could result from this. For example, laser cutting is a no-contact process that produces precise results even with intricate designs and is safer to use. These elements are probably going to keep the size of the gear hobbing machine industry from growing to its full potential.

➤ increasing car production globally to open up new development opportunities

The strong growth rate in the automotive industry, which is being driven by an increase in vehicle manufacturing, could benefit the global gear hobbing machine market. It is well known that changes in auto manufacturing have a direct effect on the need for gear, which in turn influences the use of hobbing machines. The increase in middle-class populations, the global population expansion, shifting consumer purchasing habits, and the accessibility of cars at various price points have all contributed to the rise in both commercial and passenger vehicle sales. In addition, a significant factor in the recent increase in the number of new-age clients prepared to pay extra for environmentally friendly amenities is the introduction of electric and hybrid vehicles.

Due to disruptions in the fuel supply and pricing caused by the Russia-Ukraine war, some countries experienced sharp increases in gasoline prices in 2022 and 2023, which made more people lean toward electric alternatives. More than 10 million electric vehicles were sold in 2022, according to a recent International Energy Agency (IEA) report.

➤ High initial outlay that might deter new competitors

Machines for gear hobbing are costly and demand a large upfront cost. The cost of operating such a piece of equipment is further increased by the need for qualified personnel and a supporting infrastructure. Due to the possibility that other options will be more cost-effective and perform better, this may deter smaller firms and new competitors from spending money.

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The Global Gear Hobbing Machine Market is segmented based on product, application and region

Global Gear Hobbing Machine Market: Product Segment Analysis

● Horizontal Gear Hobbing Machines

● Vertical Gear Hobbing Machines

Global Gear Hobbing Machine Market: Application Segment Analysis

● Oil & Gas

● Automotive

● Defense & Military Equipment

● Power Generation

● Medical Device Manufacturing

● Industrial Machine Manufacturing

● Consumer Electronics & Appliances

● Others

The global gear hobbing machine market is led by players like:

● Liebherr Group

● Gleason Corporation

● Koepfer America LLC

● Mitsubishi Heavy Industries Machine Tool Co. Ltd.

● Samputensili Machine Tools

● DMG MORI Co. Ltd.

● Luren Precision Co. Ltd.

● Kapp Niles

● Premier Limited

● Klingelnberg AG

➤ The gear hobbing machine market will be dominated by North America

The strongest growth in the worldwide gear hobbing machine market will occur in North America due to the region’s high car demand from consumers. The largest number of car owners reside in nations like the US and Canada, with the US at the top of the list mostly because of its superior road infrastructure, which is further influenced by consumer behavior and purchasing habits. There is now a shift in the region’s car-buying tendencies, with more individuals favoring hybrid and electric cars. With a 40% increase in overall sales from 2021 to 2022, Tesla was the market leader in US luxury sales. Furthermore, the dominance of the region will be attributable to the increasing number of projects focused on oil exploration activities. In the US, the oil and gas sector saw capital expenditures of around USD 8.21 billion in 2021.

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towards a similar vein, the Canadian government invested over CAD 15 billion towards the growth of the oil and gas sector in 2023. Asia-Pacific is expected to expand steadily, with South Korea, Japan, China, and India playing a significant role. The main drivers will be the abundance of manufacturers and the strong demand in end-user verticals.

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