Global Harmonic Drive Market growing at a CAGR of 9.6% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Aug 2023
Key Market Overview
According to a recent report by Consegic Business Intelligence Pvt. Ltd., the Harmonic Drive market is poised for strong expansion and is expected to reach USD 1,870.10 Million by 2030. The market, which was valued at USD 915.19 Million in 2022, is predicted to grow at a compound annual growth rate of 9.6% during the period 2023-2030.
The report highlights the increasing demand for harmonic drive due to rising adoption of industrial robots in various industries including automotive, healthcare, aerospace and defense, and others. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Harmonic Drive market.
Global Harmonic Drive Market By Overview
Consegic Business Intelligence Pvt. Ltd. provided an inclusive research report on the Harmonic Drive market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyses significant segments such as component, operation, enterprise size, application, end-user, and region, to identify emerging trends and potential opportunities. The component segment is expected to grow owing to industrial automation and growing demand for productivity. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
Get Free SampleMarket Dynamics
Driver:
- Growing adoption of industrial robots is driving the harmonic drive market growth.
- Continuous technological development in medical devices tends to be propelling the harmonic drive market growth.
- Increasing automation and growing adoption of electric vehicles are accelerating the growth of the harmonic drive market.
Restraints:
- High cost of maintenance and manufacturing is hindering the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Cup Style, Hat Style, Ring Style, Pancake Style, and Others |
| By Material | Steel, Aluminium, Stainless Steel, and Others |
| By Sales Channel | Online and Offline |
| By Application | Robotics, Medical Equipment, Semiconductors, Aerospace Equipment, Printing, Packaging Equipment, Laser Cutting Technology, Measurement & Test Equipment, and Others |
| By End User | Automotive, Aerospace and Defense, Electronics & Semiconductor, Healthcare, Retail, Manufacturing and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Beijing CTKM Harmonic Drive, China Trans-tech Co., Ltd, Cone Drive, GIGA Precision Technology Co. Limited, Harmonic Drive, Harmonic Drive LLC have a strong market position in current market circumstances. Further, the harmonic drive market is expected to witness significant growth in coming years due to increased demand for automation and industrial robots in various industries including automotive, healthcare, manufacturing, aerospace and defense, and others. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in harmonic drive are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Beijing CTKM Harmonic Drive
- China Trans-tech Co., Ltd.
- Cone Drive
- GIGA Precision Technology Co. Limited
- Harmonic Drive
- Harmonic Drive LLC
- Harmonic Drive SE
- Leaderdrive
- Nidec Drive Technology America Corporation
- Ningbo Totel Imp. & Exp. Co., Ltd.
- Zhejiang Laifual Drive Co., Ltd.