Press Release

Gears Global Market Demand to Rise 4.7% Yearly though 2013


April 20th, 2010

Global Information, Inc. would like to present a new market research report, "World Gears" by Freedonia Group.

World demand for gears and gear assemblies is projected to reach a total market size of $169.5 billion climbing at an annual rate of 4.7% through 2013. Product sales in the U.S., Western Europe and Japan will be outpaced by demand in the developing regions of Asia, Eastern Europe, Africa, and the Middle East. Forecasted advances in gear sales will be generated by strong demand for wind and solar energy, which represent relatively small but fast growing markets. According to analysts at The Freedonia Group, "Market gains will be driven by rising motor vehicle production, ongoing economic growth, increased manufacturing output, and a shift in the product mix towards more expensive, energy-efficient units such as seven- and eight-speed automatic transmissions."

Some Key Findings in this Report Include:

  • China to surpass Japan as second largest national market and projected to account for one-third of all additional gear demand through 2013
  • Renewed strength in motor vehicle output will drive advances gear product demand in US and Western Europe
  • In 2008, seven-tenths of all gear product sales were automotive related (motor vehicle transmissions accounted for 45% of entire gear market)
  • Large transmissions segment will grow at a faster rate than other segments (e.g. accessory, driveline, steering) in the key motor vehicle market for gears through 2013
  • Machinery will remain as second largest gear market
  • Suppliers expected to benefit from industrialization activity in China and other developing regions, which will drive demand for gears used in construction and manufacturing machinery

WORLD GEAR DEMAND
(million dollars)
% Annual Growth
Item2003200820132003-20082008-2013
Gear Demand978501345001695006.64.7
North America2990032650404501.84.7
Western Europe2720032150362003.42.4
Asia/Pacific30900511006835010.66.0
Central & South America29105500709013.65.9
Eastern Europe467088501180013.65.2
Africa/Mideast22704250561013.45.7

©2010 by The Freedonia Group, Inc.


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