Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 912.8 Million | USD 1155.6 Million | 2.3% | 2024 |
FrequentlyAsked Questions
A gear hobbing machine is used during gear manufacturing. These machines use a multi-tooth, rotating cutting tool which is also known as a hob to generate teeth on different types of gears including helical gears, spur gears, sprockets, and splines. As compared to any other method of cutting gears, the use of a hobbing machine is the most preferred due to the high rate of accuracy obtained using the tool. The process including the use of these machines includes setting up the gear in its blank format. It is done by placing it on the spindle of the machine.
The global gear hobbing machine market is expected to grow due to rising demand in automotive and aerospace industries, increasing automation in manufacturing, growing need for high-precision gear production, and expanding investments in industrial machinery modernization.
According to a study, the global gear hobbing machine market size was worth around USD 912.8 Million in 2024 and is expected to reach USD 1155.6 Million by 2034.
The global gear hobbing machine market is expected to grow at a CAGR of 2.3% during the forecast period.
Asia-Pacific is expected to dominate the gear hobbing machine market over the forecast period.
Leading players in the global gear hobbing machine market include 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, among others.
The report explores crucial aspects of the gear hobbing machine market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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