Precision Gearbox Market Anticipated To Reach USD 4.7 Billion By 2028
San Francisco, 16 Feb 2022: The Report Precision Gearbox Market Size, Share & Trends Analysis Report By Product (Planetary, Harmonic, Cycloidal), By Application (Robotics, Military & Aerospace, Packaging, Medical), By Region, And Segment Forecasts, 2020 - 2028 The global precision gearbox market size is expected to reach USD 4.7 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2020 to 2028. Increasing implementation of automation technology in the production process is likely to propel the demand for the installation of robots, thereby driving the market. The presence of a large number of raw material suppliers, providing multiple options to product manufacturers, is projected to result in low bargaining power. In addition, the low switching cost for manufacturers is expected to decrease the bargaining power of suppliers. The increasing product demand in the medical ...