Global Information would like to present a market research report, "Gears (US Market & Forecasts)" by Freedonia Group.
The US market for gears and gear assemblies is heavily reliant on the motor vehicle industry. In 2008, over threequarters of all gear sales were motor vehicle related, despite low levels of vehicle production. Motor vehicle transmissions alone accounted for nearly half of the entire gear market in that year. As a result, US gear sales patterns tend to be closely related to the performance of the motor vehicle industry. Despite strong growth in the aerospace equipment and machinery markets, gear demand increases were sluggish during the 2003- 2008 period, as the automotive industry struggled. Through 2013, advances in gear sales will be strong as the auto market recovers, despite slowing growth in the aerospace and machinery industries.
The forecasted growth will be a considerable improvement from the less than one percent yearly growth registered during the 2003-2008 period. Gains will be supported primarily by rebounding motor vehicle production, which is forecast to advance 3.4 percent per year through 2013, a notable turnaround from the declines registered over the previous decade.