| Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 1.2 Billion | USD 2.5 Billion | 7.6% | 2024 |
FrequentlyAsked Questions
A Harmonic Drive is a one-of-a-kind mechanical gear system that was created in the 1950s. Its primary purpose is to lower speed at a high ratio while keeping its size and efficiency.
The harmonic drive market is being driven by several factors, such as rapid growth of industrial robots, rising adoption of collaborative robots (cobots), semiconductor manufacturing expansion, and miniaturization & precision requirements.
The high manufacturing cost poses a major challenge to the harmonic drive industry's growth.
Based on the type, the cup style segment is expected to dominate the harmonic drive market growth during the projected period.
The growing investment in advanced technology poses a major impact factor for the harmonic drive industry's growth over the projected period.
According to the report, the global harmonic drive market size was worth around USD 1.2 billion in 2024 and is predicted to grow to around USD 2.5 billion by 2034.
The global harmonic drive market is expected to grow at a CAGR of 7.6% during the forecast period.
The global harmonic drive industry growth is expected to be driven by the North America region. It is currently the world’s highest revenue-generating market due to the growing prevalence of cobots in the area.
The global harmonic drive market is dominated by players like Harmonic Drive LLC, DESTACO, Nabtesco Corporation, Maxon Motor, GAM Gear, Neugart GmbH, THK Co. Ltd., Kollmorgen, Robot System Products, Mecademic Robotics, Schaeffler AG, Harmonic Drive SE, Leaderdrive Technologies, Zhejiang Laifual Harmonic, Nantong Zhenkang Welding Electromechanical Co., Ltd., TQG Precision Transmission Technology, and HDS Drive Technology, among others.
The market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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