Global Manual Gear Manufacturing Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-11 09:23:01
The Global Manual Gear Manufacturing market is forecast to grow at a CAGR of 5.85 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing demand for manual gear in the Oil and Gas industry. The Global Manual Gear Manufacturing market has also been witnessing the increasing demand for spur gear. However, the high risk of occurrence of accidents could pose a challenge to the growth of this market.
Key vendors dominating this space are David Brown Gear Systems Ltd. and Rotork plc.
Other vendors mentioned in the report are Bonfiglioli Group, Curtis Machine Company, Eaton Corp., FLSmidth MAAG Gear AG, Haley Marine Gears Inc., and ZF Friedrichshafen AG.
The following companies represent the key players in Global Manual Gear Manufacturing Market: ""David Brown Gear Systems Ltd. and Rotork plc.
The use of spur gears in industries such as Agriculture, Aerospace, Mining, Pulp and Paper, Automotive, Textile, and Industrial Engineering has led to increasing demand for manual gears. Also, the ability of these gears to perform several functions across various industries has led to increasing demand, contributing significantly to the increasing growth of the Global Manual Gear Manufacturing market. For instance, spur gears are used in the Agriculture industry for cutting dry paddy straw and they are used in the Mining industry for extracting and refining minerals.
One of the major drivers is the increasing demand for manual gears in the Oil and Gas industry, leading to the establishment of new production plants, which requires the installation of manual gears to carry out the oil and gas extraction process.
Further, the high risk of accidents is the major challenge. Manual gears are operated by individuals across several industries, and the need for continuous monitoring and maintenance to avoid any failure is high. However, the lack of training on the operation of gears leads to mishaps and life-threatening accidents.
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