Question

1. An overview of the gear industry? (Industry Analysis, size, growth, trends, and forecast)

2. The impact of tariffs on the Gear Industry?

Answer 1

1.Industrial gear plays a vital role for functioning of industrial equipment and products. Thus resulted in a surge in the demand for industrial gears. The forecast by global market for industrial gear is projected for healthy growth rate during 2015 to 2023.

They are manufactured as per the standard industrial norms for the optimum quality material.One of the standard for industrial gear is ISO 9001:2008, DIN Standard and American Gear Manufacturers Association (AGMA) standard.

They find application in several sectors including steel manufacturing, steel processing, machine tool industry, material handling, engineering industry, and in plastic, paper, sugar and rubber industry.

Vast population and in incremented income in the emerging economies suchbas China, India and Brazil have urged to extend the facilities to meet the demand of the consumers.

2.The tariff has caused instability in the industry and caused a complications in the supply chain of gear industry. This will affect the trading partners, will reduce economic growth and output, income and employment.