DUBLIN, May 23, 2016 Research and Markets has announced the addition of the "Global Geared Motors and Drives Market 2016-2020" report to their offering.
The report forecasts the global geared motors and drives market to grow at a CAGR of 4.9% during the period 2016-2020.
A trend influencing the market is the emergence of integrated geared motors and drives systems. The integration of gearboxes, geared motors, drives, and generators offers advantages in terms of size, weight, and cost. We note that the combined geared and generator products are competitively priced than conventional products. SIMOGEAR of Siemens offers the same size as products available in the market but offers higher ratio and torque. Such attributes can increase the power of the system.
According to the report, a key market driver is the increased focus on energy efficiency. Growing energy consumption worldwide coupled with high costs of electricity has necessitated end-user industries (like food and beverage, power, oil and gas, and chemical and petrochemicals) to pursue energy efficiency measures. We estimate that on an average 9% of the production cost in any industry is spent on electricity. The number climbs to 41% in energy-intensive industries such as oil and gas, food and beverage, and in power generation. Therefore, end-users are working to reduce energy consumption through the use of geared motors and drives.
Further, the report states that challenges like high maintenance costs can impede market growth.
- Emerson Electric
- Regal Beloit
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end user
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/wl5snr/global_geared
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-geared-motors-and-drives-market-growth-of-49-by-2020---growing-focus-on-energy-efficiency---research-and-markets-300272935.html
SOURCE Research and Markets