The ‘Global Gear Motor Market Share, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global gear motor market, assessing the market on the basis of its segments like product, gear, rated power, end uses and major regions.
Gear Motor Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): USD 25.3 Billion
• Forecast CAGR (2023-2028): 5.00%
• Forecast Market Size (2028): USD 33.9 Billion
Helical-Bevel gears allows smooth gear operation while decreasing noise. The high load capacity and high power of helical gears make them applicable to different industrial applications in the port and energy industry, steel and rolling mills, elevators, cutting and petroleum industries. During the forecast period, increasing application of helical gears in automotive transmissions for high-speed vehicles is expected to accelerate the demand for the products due to the low friction and wear of these gears. In addition, the product is expected to experience increased demand from heavy industrial sectors such as construction for plastics, cement, rubber, etc.
The market in this region is driven by large-scale industrialization and construction activities in emerging countries such as India and China. Because of its large population and stable economic growth, the region has a boosting food and automobile industry, increasing the demand for geared motors. Moreover, China’s thriving metals and mining industries are likely to create high demand for geared motors with reasonable performance due to increased production of aluminum, steel, and zinc. In addition, the strong presence of major transmission and engine manufacturers in the region should increase their product supply chains.
Gear Motor Industry Definition and Major Segments
A geared motor is an electric motor consisting of a gearbox. Geared motors use either AC or DC power and are famously used in applications requiring high output torque and low output shaft speed. This consists everyday electronic processes such as conveyor systems, elevators and car wipers.
Based on product type, the market can be segmented into:
• Gearbox
• Gear Motor
Based on gear type, the market has been divided into:
• Helical-Bevel
• Worm
• Helical
• Planetary
• Others
Based on rated power, the market is classified into:
• Up to 7.5 kW
• 7.5 kW to 75 kW
• Above 75 kW
The market can be segmented based on torque into:
• Up to 10,000 Nm
• Above 10,000 Nm
The important end uses of the product include:
• Metals and Mining
• Material Handling
• Wind Power
• Food and Beverage
• Cement and Aggregates
• Automotive
• Others
Gear Motor Market Trends
Increasing demand for geared motors for driving machinery in the food and beverage industry is driving the market growth. The increasing demand for packaged food and beverage products has increased the demand for geared motors to improve food processing and operational efficiency and reduce equipment downtime. In addition, geared motors can withstand long-time operation in the food industry.
This is another important driver. Moreover, stringent government regulations to improve hygiene in the food industry are likely to create demand for AC geared motors during the forecast period. On the other hand, geared motors have become indispensable in the automotive industry for driving elevators, conveyor belts, and improving the smoothness of automotive machinery. In this context, increasing demand for passenger cars and commercial vehicles is expected to strengthen the geared motor sector.
Additionally, increasing application of bevel helical gears in the cement industry to fulfill multiple functions such as motor boosting, speed control, and operability enhancement is expected to boost the global gear motor market during the forecast period.
Key Market Players
The major players in the Global Gear Motor Market are :
This report provides an in-depth analysis of the following key players in the global geared motor market, covering their competitive landscape, capabilities, and latest developments such as mergers, acquisitions and investments, capacity expansions, and factory revisions. Siemens AG, Eaton Corporation plc, emerson electric company, Johnson Electric Holdings Limited, Bosch Rexroth AG and others are the key players.
A comprehensive EMR report provides an in-depth assessment and SWOT analysis of the market based on Porter’s Five Forces model.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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