The latest market report published by Credence Research, Inc. “Global Bevel Gear Jack Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027”. The Bevel Gear Jack market was valued at USS 178.5 million in 2019 and expected to grow at a CAGR of 8.0% during the forecast period from 2020 to 2027 to reach USD 244.5 million in 2027.
Browse the full report at https://www.credenceresearch.com/report/bevel-gear-jack-market
Bevel Gear Screw Jacks are robust systems developed with an intention of using with a ground twisting slant gear and created in standard models with wide ranging load bearing capabilities. They might be utilized as a standalone system of multifaceted arrangements. There are no “standard” travel lengths and each angle gear screw jack is developed with certain specifications. All bevel gear screw jacks are fitted with tough and sharp winding toothed bevel gear transmissions to facilitate increased lifting speed.
Key Trends in Global Bevel Gear Jack Market
Strong Demand for Bevel Gear Jack in Power Industry
The Power Industry is an exceptionally motorized industry for power age just as for power transmission. The Power Industry utilizes an assortment of pinion wheels as steady parts at a few parts of intensity age and transmission. There are different sorts of intensity age, for example, gas turbine electric force age, warm force power plants, hydropower power plant among others. The numerous assortments of stuff gear utilized in various kinds of intensity plants. Slant gears are utilized to change the pivot of rotational movement, while equal shaft gears help to work machines at fast.
Impact of COVID 19 on Global Bevel Gear Jack Market
COVID 19 has left an unparalleled impact on growth of global Bevel Gear Jack industry. The global Bevel Gear Jack has witnessed very severe setback like never before. The demand for Bevel Gear Jack is expected to be plunged by almost 20% in 2020, in terms of both volume as well as revenue. However, with the beginning of unlock process across the world and anticipation of COVID 19 vaccine to be launched during first half of 2020 is expected to bring recovery in demand for Bevel Gear Jack.
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 Bevel Gear Jack market can be segmented into Power Industry, Steel Industry, Petrochemical Industry, Architecture Industry and Other. By application, power industry segment was largest segment in 2019 with around 30% share in total revenue generated by this industry. Bevel gear jack market is anticipated to advance at a rapid pace in the years to come. Europe and United States are likely drive the demand for bevel gear screw jack industry owing to increasing end-user industry in the regions. Europe and United States are likely to witness intense competition, new product launches and new technology. Rising adoption rate is also expected to fuel the demand for bevel gear jacks in the region.
Global Bevel Gear Jack Market by Regional Insights
At present, Asia Pacific dominate the global Bevel Gear Jacks market followed by North America. In 2019, Asia Pacific and North America collectively accounted for over 60% share of global Bevel Gear Jack market. Growing power sector, wide spread steel industry, and strong base of petrochemical industry in the region is major factor driving the demand for bevel gear jack in the region. Asia Pacific is likely to continue dominating Bevel Gear Jack market over the forecast period. However, North America and Europe also hold significant market share and expected to contribute towards 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