Global Industrial Gearbox and Gear Motors Market – Snapshot
Industrial gearboxes are the type of rotating machines that use gear and gear trains to transmit speed and torque in order to move the other devices. They work in tandem and provide a mechanical advantage that offers excellent power transmission. With the multiple gear ratios, it is possible to switch between different speed and torque as per the requirement, and this can be done manually or automatically. A gearbox is preferably used to increase speed and decrease torque. An industrial gear motor is an element that integrates a gear reducer. Gear motors can deliver high torque at low power and low speed. This is because of the gearhead function, which acts as a torque multiplier and allows small motors to generate higher torque. Most industrial gear motors use AC motors.
global industrial gearbox and gear motors market
Industrial gearboxes and gear motors are an integral part of various end-use industries. Following the rising demand in the Asia Pacific region, manufacturers are shifting their base to this region which is one of the main reasons for the growth of the industrial gearbox and gear motors market in the Asia Pacific region. The market in Asia Pacific is expected to expand at a CAGR of 4.9% over the forecast period.
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Investment in discrete manufacturing sectors such as packaging, plastics, automotive, and unit material handling are expected to create sales opportunities for industrial gearboxes and gear motors. The manufacturing of mass-produced automobiles typically relies on conveyors and equipment to bring the parts and assemblies to a location where robots or workers are tasked with a specific function in the elaborate process of assembling a car or truck. These electric motors are often connected directly to gearboxes as gear motors and are used for driving conveyors, lifts, robot arms, etc. The end-markets and applications for industrial gearbox and gear motors are diverse. The global market is heavily reliant on the material handling, wind power, automotive, and construction industry. The future prospect of this industry is strongly correlated to economic activity, especially in core sectors like power, infrastructure, mining, oil and so on. The growing demand for power is expected to pave the way for newer power projects and hence increase the usage of geared components. Material handling industry had the highest market share in 2016 and is expected to expand at a CAGR of 4.5% over the forecast period.
Industrial gearboxes and gear motors come in a variety of sizes to ensure perfect duration and smooth running in all types of applications. The simplicity of the design has allowed the widespread acceptance of industrial gearboxes and gear motors. Modular and compact design and flexibility in usage boosts the cost effectiveness of industrial gearbox and gear motors.
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The industrial gearbox and gear motors market is segmented in terms of product type, gear type, power, industry, and geography. By product type, the market is divided into gearbox and gear motors. By gear type, the market is classified into helical, bevel, worm, planetary, and others which include spur gear, spiral gear etc. Helical is the most commonly used gear in transmissions. They also generate large amounts of thrust and use bearings to help support the thrust load. Increasing number of power transmission projects in North America is leading to the growth of the helical gear market. Moreover, gear motors efficiency depends on friction. This in turn depends on the quality of the gearing, the number of tooth engagements, and the load torque. Helical and planetary account for major share in the global industrial gearbox and gear motors market. The helical gear segment is expected to experience a CAGR of 4.5% over the forecast period. Helical is the most commonly used gear in transmissions. They also generate large amounts of thrust and use bearings to help support the thrust load due to rapid urbanization. By power, gear motors can be categorized into up to 7.5 kW, 7.5 kWto 75kW, and above 75 kW. By industry, it is segmented into food & beverage, wind power, metals & mining, cement & aggregates, automotive, material handling, construction, chemicals, power generation (excluding wind power), and others (marine, rubber, & plastics etc.).
Asia Pacific and North America are anticipated to account for major market share due to increased wind power projects and rising demand in these regions. The market in Asia Pacific is projected to witness steady growth due to growing population and increasing income levels. Industries such as construction, automotive, material handling, and wind power are in the process of expanding and renovating their facilities in this region. These process industries are always in expansion mode and thus they demand plants and machineries which are driven by industrial gearbox and gear motors. In terms of gear type, planetary gears are estimated to constitute the fastest growing segment of the market. The demand for helical gear motors is higher than other gear types. Helical gear motor held the largest market share and is expected to dominate the market over the forecast period. Widespread acceptance of industrial gearbox and gear motors has generated a massive customer base and this, in turn, is expected to improve the growth statistics of the industry.
The global industrial gearbox and gear motor market is highly diversified with competition distributed across a wide range of industrial and geographic product segments. Some of the industry participants of the global industrial gearbox and gear motors market are SEW-Eurodrive GmbH & Co. KG (Germany), Siemens AG, Bonfiglioli Riduttori S.p.A, Winergy, Bauer Gear Motor GmbH, China High Speed Transmission Equipment Group Co. Ltd., Eaton Corporation PLC, and ABB Ltd.
Utilization across Various Industries to Boost the Growth Opportunities across the Industrial Gearbox and Gear Motors Market
The industrial gearbox and gear motors market is expected to observe stable growth across the assessment period of 2018-2026 on the back of the growing use across varied end-users such as wind power, material handling, automotive, metals, cement and aggregates, chemicals, marine, wind power, plastics, mining, and others. The growing inclination of many industries to adopt these gears will bring tremendous growth opportunities for the industrial gearbox and gear motors market.
Industrial gearboxes are rotating machines using gears and gear trains for transmitting torque and speed for moving the concerned devices. The advantages of these gearboxes are that they provide phenomenal power transmission. The presence of numerous gear ratios enables to switch to different torque and speed with ease as per their requirement. Thus, all these advantages bring good growth opportunities for the industrial gearbox and gear motors market.
Industrialization prospects have reached their zenith across various regions. The growing influence of industrialization is helping in increasing the demand for industrial gearbox and gear motors to a great extent. The increasing influence of foreign direct investments in countries like India and China is also proving to be a growth accelerator for the industrial gearbox and gear motors market.
Research and development activities play a key role in the development of new machines and technological upgrades. Players in the industrial gearbox and gear motors market are investing heavily in these activities for boosting their revenues. Thus, this factor eventually helps in increasing the growth rate of the industrial gearbox and gear motors market.
The coronavirus pandemic has slowed down the growth prospects of many industries and sectors around the world. The industrial gearbox and gear motors market is no exception. The growing transmission levels forced many countries to impose strict restrictions. These restrictions resulted in the closure of production units and manufacturing facilities, considerably decreasing the growth opportunities. However, the relaxations in lockdown restrictions are serving as robust growth generators for the industrial gearbox and gear motors market
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Global Industrial Gearbox and Gear Motors Market – Snapshot