Research and Markets: Global Gear Manufacturing Market 2015-2019: Impact of Drivers and Challenges
By Business Wire News
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/jqw7rb/global_gear) has announced the addition of the “Global Gear Manufacturing Market 2015-2019” report to their offering.
The analysts forecast the Global Gear Manufacturing Market to grow at a CAGR of 5.33 percent over the period 2014-2019.
– David Brown Gear Systems Ltd.
– Emerson Electric Co.
– Rotork plc
Other Prominent Vendors
– Bonfiglioli Group
– Curtis Machine Company
– FLSmidth MAAG Gear
– Haley Marine Gears
– ZF Friedrichshafen
Commenting on the report, an analyst from the team said: A major trend emerging in this market is the increased demand for spur gears in industries such as agriculture, aerospace, mining, pulp and paper, automotive, textile, and industrial engineering. Many manufacturers offer customized, industry-specific gears to meet the specific needs of end-users. They offer various types of gears in different sizes, shapes, designs, and speed ratios according to the specific requirements of industrial applications.
According to the report, one of the key drivers of this market is the increased demand for gears in the Oil and Gas industry, leading to the establishment of new production plants, which require the installation of gears to carry out oil and gas extraction processes.
Further, the report states that the high risk of accidents is a major challenge faced by the market. Gears are operated by individuals across several industries, and the need for continuous monitoring and maintenance to avoid any failure is high. However, lack of training with regard to the operation of gears leads to many mishaps and life-threatening accidents.
For more information visit http://www.researchandmarkets.com/research/jqw7rb/global_gear
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