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Industrial Gearbox and Gear Motors Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 419 Views
 
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An industrial gearbox is a system that is used to transmit mechanical energy to drive another device. Gearboxes are power transmission systems that use gears and gear trains to transmit speed and torque and provide mechanical advantage that helps to complete difficult tasks easily. A gearbox is generally used to increase speed and decrease torque. An industrial gear motor is a combination of a gear reducer and an AC or DC electrical motor. Gear motors are used to deliver high torque at low horsepower or low speed. AC motors typically with fixed-speed specification are the most commonly used electrical motors in industrial gear motors. However, dc motors are especially popular in the automotive industry. DC motors with both normal speed and stall-speed speed specifications are used in such applications. These motors generate extra torque by using reducing the speed. Gear motors are used commonly in applications that require a lot of force such as moving heavy objects.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2027

  Base year considered

  2019

  Forecast period

  2020–2027

  Forecast units

  Value (USD Millions)

  Segments covered

  Gear Type, Power, Industry Vertical and Region

  Regions covered

North America (U.S., Mexico and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

The major players include Bauer Gear Motor GmbH, ABB Ltd, Siemens AG, SEW-Eurodrive GmbH & Co. KG, Bonfiglioli Riduttori S.p.A, Winergy, China High Speed Transmission Equipment Group Co. Ltd., Eaton Corporation PLC, Premium Transmission Ltd. And Sumitomo Heavy Industries among others.

 

COVID-19 scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the industrial gearbox and gear motors industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of industrial gearbox and gear motors market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Growth of the global wind turbine and automotive industries have fuelled the demand for industrial gearbox and gear motors across the world. Industrial gearboxes and gear motors find application in various end-uses. Increasing usage in manufacturing, packaging, transportation and material handling, aerospace and automotive industries have led to increasing demand for industrial gearbox and gear motors. The global manufacturing and automotive sectors use gears and gear motors in various applications. Gears and gear motors are used in conveyors and equipment handling applications for various industries to move parts and assemblies from one location to another on the shop floor. The major restraining factor of the global gearbox and gear motors market is its reliance on the core sectors like power, manufacturing, mining, oil and other such applications. The growth opportunity for the industrial gearbox and gear motors market are expected to come from the growth of the global power generation and automotive industries.

The global industrial gearbox and gear motors market trends are as follows:

Wind turbines

Gears and gear motors are integral components used in turbines. The growth of the global wind power market has is expected to help the global Industrial Gearbox and Gear Motors market grow. Wind turbines are a clean source of renewable energy that do not produce atmospheric emissions. Generation of wind energy does not cause pollution like thermal power plants that rely on combustion of fossil fuels. The combustion of fossil fuels like coal or natural gas, result in emission of particulate matter and poisonous gases like nitrogen oxide and sulphur dioxide, which can cause health problems and environmental problems like acid rain, smog, greenhouse gases. For generation of power, wind turbines convert kinetic energy to electric energy. Over the recent past, wind energy has become more popular and important due to the factors such as no greenhouse gas emission as awareness regarding global warming and climate change grows. Wind energy is highly economical and efficient and wind power projects require short lead time for planning & construction. The importance of wind energy is growing globally as currently it contributes to 5% of the global electricity demand. The average cost of gearbox units used in wind-turbines has declined due to advancements in manufacturing technology and reduction in manufacturing costs. Hence with growth of the global wind turbine market, the global gear and gear motors market is also expected to expand. 

Growth of the global automotive industry

Rising global population, rise in disposable income of the average consumer worldwide, rapid urbanization are all important drivers for the growth of the global automotive industry and this in turn is expected to significantly help the growth of the industrial gearbox and gear motors market. The auto sector is growing globally due to the increasing disposable income of the middle classes. Gearboxes and gear motors are used in various applications such as the final product itself as well as various machinery and systems that are used in the manufacturing or assembly process. The manufacturing or assembly processes used in the automobile manufacturing plants typically involves conveyor systems that are used to move parts and assemblies from location on the shop floor to another. Various other machinery and systems like lifts, robotic arms among others use gears and gear motors for lifting heavy machinery or assemblies. Electric motors used for driving conveyors, lifts, robot arms are generally connected directly to the gearboxes and function as the gear motors. The automotive industry is one of the major end users of the global gearbox and gear motors market. Therefore, growth of the global automotive sector is expected to help the growth of the global industrial gearbox and gear motors market. 

Key segments covered:

Segments

Sub-segments

  Gear Type

  • Helical
  • Bevel
  • Worm
  • Planetary
  • Spur Gear
  • Spiral Gear
  • Others

  Power

  • <7.5 kW
  • 7.5 kW -75kW
  • >75 kW

  Industry vertical

  • Wind Power
  • Metals & Mining
  • Automotive
  • Material Handling
  • Construction
  • Others

 

Key benefits of the report:

  • This study presents the analytical depiction of the global industrial gearbox and gear motors industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial gearbox and gear motors share.
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global industrial gearbox and gear motors market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed global industrial gearbox and gear motors market analysis based on competitive intensity and how the competition will take shape in coming years.
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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