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Geared products market to grow by 7.2% in 2022

Control Engineering

Regionally, APAC is expected to maintain its lead in the geared products market out to 2027 with a CAGR of 4.5%. The main driving forces behind this are the growing demand for industrial automation in emerging Asian countries, as well as increasing growth rates of manufacturing industries. over the period in question.

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Modest global manufacturing growth expected

Control Engineering

For those products which are seeing high price inflation, such as foods and beverages, and raw materials; government intervention is expected to bring down prices. In 2023, China’s manufacturing output growth is set to increase by 3.7%. manufacturing shrank by 4.3% In the long term, between 2022 and 2027 the U.K.