Global Geared Motors Markets, 2021-2026: Industry is Expected to be Highly Influenced by China and India in Terms of Demand and Raw Material Availability
DUBLIN, Jan. 6, 2021 /PRNewswire/ -- The "Geared Motors Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global geared motors market by revenue is expected to grow at a CAGR of approx. 5% during the period 2021-2026.
The global industry is expected to be highly influenced by China and India in terms of demand and raw material availability. Owing to the increasing focus on domestic production in the APAC region, particularly in India, the region is expected to grow significantly. This pattern is expected to persist in the long term, along with the globalization of trade in the Global South.
Trade levels in developing economies are projected to grow faster than in developed economies. The market is likely to grow with the growth in industrial production, enhancement in technological advancement, increase in urbanization and expansion of industries, and favorable trade opportunities in developing countries.
Global Geared Motors Market Segmentation
Capable to handle high-pressure loads and long-lasting performance are increasing the application of helical gearboxes. In 2020, helical geared motors held the highest market share as they last longer than others. They are projected to dominate the market during the forecast period. F&B, textiles, road construction machinery, chemicals, cement, and plastic are the major end-users, which are expected to drive the helical geared motors demand. However, easy handling along with high torque, low maintenance, and power consumption are likely to contribute to the growth of power transmission gears.
High trust levels and traceability are the major factors responsible for direct geared motor sales. The increasing demand for interconnectedness between consumers and businesses for reliability across the globe is also boosting the direct selling of geared motors. Reduced expenditure and deep market penetration are other factors driving the sale via direct channels. India and China are expected to witness the highest growth in direct sales owing to rapidly growing industrialization.
The rise in automation in several industrial processes and the high application of electric AC motors in various end-users such as healthcare, F&B, automotive, and other industries are likely to drive the market. The geared motors market growth is accelerated by the increasing use of electric AC motors in infrastructure and construction projects, especially in developing economies, which is likely to increase influence growth prospects of the segment. APAC is expected to witness significant growth over the next few years owing to the increase in purchasing power, high production of AC motor-driven applications, and growth in infrastructure projects in developing economies, especially in India and China.
Horsepower (rated power), starting torque, and high efficiency are the most important factors, which end-user industries considered while purchasing geared motors. 7.5 KW rated geared motors prefer aluminum frames as they are available in abundance. Geared motors ranged between 7.5 KW and 75 KW are expected to grow significantly. However, stringency in government regulations, which include, compliance to IE2 levels for above 7.5KW motors is expected to curtail the production of these machines.
In 2020, the demand for geared motors has been adversely affected on account of the COVID-19 outbreak. However, the impact level varies in intensity and scale as the industry is characterized by a high degree of end-user variability. Worm gear engines and helical gear motors are commonly used in the F&B industry with varying degrees of sanitary safety to meet the requirement in the production facility. North America is expected to generate the highest demand for geared motors owing to the presence of a highly established and rapidly F&B growing industry.
The automotive industry is expected to make a significant contribution to the global geared motors market share. However, due to lockdowns and restrictions, car sales are likely to be unpredictable. In H1 2020, the supply chain was disrupted and a realignment of contracts in the auto industry is expected. Suppliers of geared motors to the automotive industry are expected to confront heightened liquidity concerns.
Insights by Vendors
Vendors are likely to be adversely affected by the rapidly evolving technological climate as keeping up pace with continuous developments and enhancements is a major challenge. The rivalry among vendors is likely to intensify. The entry of large established motor firms is a major challenge for domestic and regional manufacturers. To maintain a strong market presence, suppliers are required to adjust and refine their specific products. The market is highly diversified on account of the presence of several manufacturers operating and selling their valued propositions worldwide.
Key Question Answered:
1. What is the projected market size & growth rate of the geared motors market?
2. What are the new opportunities for vendors in the geared motors market?
3. Which region is likely to witness maturity in demand in the near future?
4. Which are the primary growth drivers for the global geared motors market?
5. Who are the key players operative in the global geared motors market?
Market Dynamics
Market Opportunities & Trends
- Emergence of Magnetic Gearboxes
- Increasing Wind Power Installations
Market Growth Enablers
- Demand for Geared Motors From Agriculture & Forestry Industry
- Infrastructural Development in Emerging Countries
- Rise in Automation Expenditure
Market Restraints
- Advent of Direct Drive Technology
- Instability in Oil & Gas Industry
- Decline in The Construction Business
Prominent Vendors
- ABB
- Eaton
- Johnson Electric
- Mitsubishi
- Nidec Corporation
- Regal Beloit Corporation
- Siemens
- Sumitomo Heavy Industries
- WEG
Other Prominent Vendors
- Bauer Gear Motor
- Bison Gear & Engineering
- Bonfiglioli
- Dana Brevini Power Transmission
- Groschopp
- Sew-Eurodrive
- Teco Electric Company
- Varvel Group
For more information about this report visit https://www.researchandmarkets.com/r/kv8fhx
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