The latest market report published by Credence Research, Inc. “Global Bevel Gear Jack Market: Growth, Future Perspectives and Competitive Analysis, 2019-2027.” The Bevel Gear Jack market was valued at USS 178.5 million in 2019 and is expected to grow to CAGR 8.0 per cent between 2020 and 2027, to reach USD 244.5 million in 2027.
Bevel Gear Screw Jacks are robust systems designed with the aim of using a ground-wrapping slant and designed in standard models with a wide range of load bearing capabilities. They could be used as a standalone system of multi-faceted arrangements. There are no “standard travel lengths and each angle gear screw jack is designed with certain specifications. All bevel gear screw jacks are fitted with tough and sharp toothed bevel gear transmissions to facilitate increased lifting speed.
Bevel Gear Jack is a detailed study of the global market for Bevel Gear Jack. Bevel Gear Jack’s global market report provides detailed market insights on Bevel Gear Jack at regional and country level. The key regions covered by the report include North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. The major countries covered by the report are the United States, Canada, Mexico, Brazil, Argentina, China, Japan, India, South Korea, Germany, the United Kingdom, France, Italy, Spain, Russia, South Africa, Turkey, Israel, the GCC, etc. The report sets out the market size of Bevel Gear Jack for the historical period, i.e. from 2015 to 2019, estimates for the current year and forecasts for the period from 2021 to 2027. The market size of Bevel Gear Jack is further broken down at regional and country level.
Key Trends in Global Bevel Gear Jack Market
Strong Demand for Bevel Gear Jack in Power Industry
The Power Industry is an exceptionally motorised industry for power age as well as for power transmission. The Power Industry uses a range of pinion wheels as steady parts for a few parts of intensity age and transmission. There are different types of intensity age, e.g. gas turbine power age, hot power plants, hydro power plants, among others. Numerous assortments of gears used in various kinds of intensity plants. Slant gears are used to change the pivot of rotational motion, while equal shaft gears help machines to operate quickly.
Impact of COVID 19 on Global Bevel Gear Jack Market
COVID 19 has had an unparalleled impact on the growth of the global Bevel Gear Jack industry. The global Bevel Gear Jack has witnessed a very serious setback like never before. The demand for Bevel Gear Jack is expected to fall by almost 20% in 2020 both in terms of volume and revenue. However with the start of the worldwide unlocking process and anticipation of the launch of the COVID 19 vaccine in the first half of 2020, the demand for Bevel Gear Jack is expected to recover.
Global Bevel Gear Jack Market by Type Insights
Based on its type, the global Bevel Gear Jack market can be segmented into Bevel Gear Machine Screw Jacks and Bevel Gear Ball Screw Jacks. By type, Bevel Gear Machine Screw Jacks the global market with over 55% share in 2019. It is also expected to keep its dominance over the forecast period and expected to exhibit the fastest growth rate among all segments.
Global Bevel Gear Jack Market by Application Insights
Based on its applications, the global market for Bevel Gear Jack can be segmented into Power Industry, Steel Industry, Petrochemical Industry, Architecture Industry and Others. By application, the segment of the power industry was the largest segment in 2019, accounting for around 30 per cent of the total revenue generated by this sector. The Bevel gear jack market is expected to move forward at a rapid pace in the coming years. Due to the growing end-user industry in the regions, Europe and the United States are likely to drive the demand for bevel gear screw jack industry. Europe and the United States are likely to witness intense competition, new product launches and new technologies. Rising adoption rates are also expected to fuel demand for bevel gear jacks in the region.
Global Bevel Gear Jack Market by Regional Insights
At present, Asia Pacific dominates the global market of Bevel Gear Jacks, followed by North America. In 2019, Asia Pacific and North America together accounted for more than 60 per cent of the global market for Bevel Gear Jack. The growing power sector, the widespread steel industry and the strong petrochemical industry base in the region are key factors driving the demand for bevel gear jack in the region. Asia Pacific is likely to continue to dominate the Bevel Gear Jack market over the forecast period. However, North America and Europe also hold significant market shares and are expected to contribute to the rapid growth of the Bevel Gear Jack market.
Global Bevel Gear Jack Market Competitive Landscape
Global Bevel Gear Jack market is fairly concentrated with the presence of large number of players including but not limited to Joyce Dayton, Nook Industries, Nippon Gear Co Ltd, Duff-Norton, Nozag, KSH, Vignessh Gears, INKOMA-GROUP, Kelston, PCM Company and Others. All the major players are focusing on development of innovative products.
Global Bevel Gear Jack Market by Type, 2015 – 2027
· Bevel Gear Machine Screw Jacks
· Bevel Gear Ball Screw Jacks
Global Bevel Gear Jack Market by Application, 2015 – 2027
· Power Industry
· Steel Industry
· Petrochemical Industry
· Architecture Industry
Global Bevel Gear Jack Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Bevel Gear Jack Market: Key Players
· Joyce Dayton
· Nook Industries
· Nippon Gear Co Ltd
· Vignessh Gears
· PCM Company