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CORRECTING and REPLACING Global Industrial Planetary Gearbox Market 2018-2022 | Resurge in Oil and Gas Upstream Activities to Boost Growth | Technavio

Please replace the release dated February 27, 2018 with the following
corrected version due to multiple revisions.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180227006617/en/

Technavio has published a new market research report on the global industrial planetary gearbox market from 2018-2022. (Graphic: Business Wire)

The corrected release reads:

GLOBAL INDUSTRIAL PLANETARY GEARBOX MARKET 2018-2022 | RESURGE IN OIL
AND GAS UPSTREAM ACTIVITIES TO BOOST GROWTH | TECHNAVIO

Technavio’s
global industrial planetary gearbox market research report forecasts the
market to grow at a CAGR of over 5% during the forecast period,
2018-2022.

The increasing demand for high precision gearbox technology is one of
the major trends in the global
industrial planetary gearbox market. The planetary
gearboxes can endure high reaction ratios in a compact solution and
hence, present an attractive solution for high precision gearboxes. The
planetary gearboxes have substantially low backlash ratings and the
helical planetary gearboxes provide an excellent choice for applications
requiring high accuracy and reliability.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

According to Technavio analysts, one of the key drivers for the global
industrial planetary gearbox market is the resurge in oil and gas
upstream activities:

Global industrial planetary gearbox market:
Resurge in oil and gas upstream activities

The oil and gas industry is a major end-user of planetary gearboxes.
They are used in pumps, compressors, fans, blowers, and expands for a
wide range of applications including exploration and production in
upstream and refining and petrochemicals production in downstream. The
prices of crude oil have been fluctuating since 2014 and the price per
barrel declined to USD 47.76 in January 2015. In 2017, the price of
crude oil increased gradually due to measures taken by the Organization
for the Petroleum Exporting Countries and Russia.

According to a senior analyst at Technavio for research on automation,
“Several oil and gas upstream projects that were postponed in 2015 and
2016 have been revived in 2017 due to the increasing price of crude oil.
This has led to an increase in upstream investments in 2017. The price
per barrel of crude oil is expected to reach USD 80 by the beginning of
the second half of 2018. Hence, the growing investments in the upstream
sector will provide a new source of revenue for planetary gearboxes
during the forecast period.”

Global industrial planetary gearbox market:
Segmentation analysis

The global industrial planetary gearbox market analysis report provides
market segmentation by product type (standard industrial planetary
gearboxes and precision industrial planetary gearboxes), by end-user
(process industry and discrete industry), and by region (the Americas,
APAC, and EMEA). This report provides an in-depth analysis of the
prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Of the two major end-users, the process industry segment held the
largest industrial planetary gearbox market share in 2017, contributing
to around 75% of the market. This end-user segment will dominate the
global market throughout the forecast period.

The APAC region held the largest share of the market in 2017, accounting
for close to 45% share. It was followed by EMEA and the Americas
respectively. The APAC region is expected to dominate the market
throughout the period 2018-2022.

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a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report such as the market size and forecast, drivers,
challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

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View source version on businesswire.com: https://www.businesswire.com/news/home/20180227006617/en/