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Precision-geared sales slowed in 2015, but will rebound

21 November, 2016

The global market for precision-geared products slowed to around $1.9bn in 2015, with 2.2 billion units being shipped, according to the analyst, IHS Markit. Revenue growth in US dollars fell by 0.8% compared to 2014, due mainly to the depreciation of the euro and Japanese yen against the US dollar, as well as a sluggish Asian market. But the analyst expects the market to recover in 2016.

IHS predicts that robotics will be the fastest-growing end-user sector for precision-geared products from 2015 to 2020, with a CAGR of 12.6%. Robotic applications were the largest market in 2015, with an estimated $596m in revenues, representing 31.4% of the total. The machine tool industry was the second-largest market ($264m), followed by packaging and labelling ($220m), materials-handling equipment ($215m), and the food, beverage and tobacco sector ($186m).

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