Gears, Drives and Speed Changers Industry Report 2022 | Global Market Worth $176+ Billion by 2026 | Pandemic-Induced Changes in Manufacturing Industries Create New Demand Patterns - Resear...
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Source: MarketWatch
DUBLIN, (BUSINESS WIRE) -- The "Gears, Drives and Speed Changers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Gears, Drives and Speed Changers Market to Reach US$176.6 Billion by the Year 2026 Increasing automotive production due to recovering world economy from the pandemic and faster demand growth and manufacturing output in developing countries constitute the primary factors driving growth for the market for gear technology. Shift towards more energy-efficient units like the seven and eight speed automatic transmissions also drives market growth. Fast growing prominence of solar and wind energy also contribute to increased sales of gears globally. Increase in demand for finished products also increases manufacturer investments on a range of production machinery, thus driving demand for machinery parts production of which also warrants gears, drives, and speed changers. Manufacturers are increasingly focusing on pr
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