Summary

The global gear motors market is expected to grow at a significant rate of around 5% during the forecast period. Gear motors are electric motors with integrated gear reducers, and it works like the speed and torque converter of an electric motor to closely match the speed and torque requirements of a specific application. Gear motors are a particularly simple and cost-effective solution to achieve optimal energy efficiency. These motors are available in a variety of AC and DC motor types, gear technologies, gear ratios, and mechanical features, giving equipment producers a large amount of flexibility to design the ideal product for their application requirements. A challenge for the global gear motors market is the constant inspection and maintenance required by gear motors to prevent problems like oil leakage and temperature check. As a result, gear motor manufacturers are investing more in R&D to address current operational issues.

The major factors for the growth of the gear motor market are rising demand in energy sectors, growing wind power installations, and increasing concerns regarding the efficiency of mechanical power transmission. For instance, according to the Global Wind Energy Council (GWEC), wind power installation is increasing immensely as around 71 GW of new wind projects were established globally in 2020.

Eaton; Siemens; ABB Motors and Mechanical Inc.; SEW-EURODRIVE; Flender; Watt Drive WEG Group.; Altra Industrial Motion Corp.; Sumitomo Heavy Industries, Ltd.; Emerson Electric Co.; Elecon Engineering Company Limited are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst gear type, helical category to witness robust CAGR during the forecast period.”
Based on gear type, the market is segmented into helical, planetary, helical-bevel gear, worm, and others. The helical category is to witness the highest CAGR during the forecast period owing to the last longer and is ideal for high-load applications since they have a higher number of teeth in contact. Also, some other factors such as easy handling along with high torque, low maintenance, and power consumption are likely to contribute to the growth of the segment.

“Amongst end-user, the food & beverages held a significant share in the market in 2021.”
On the basis of end-user, the market is categorized into food & beverages, automotive, metal & mining, material handling, oil & gas, and others. Among these, the food & beverages category held a significant share of the market in 2021. This is mainly due to the gear motors being one of the key components of the food & beverage processing machinery, it helps in powering these machines and play an important role in affecting the reliability and longevity of equipment. Also, rising demand for dairy, canned goods, bakery & snacks, and ready-to-eat food products are the major growth factors for the food & beverages industries which will propel the gear motor market during the forecast period.

“APAC to hold a significant share in the market”
For a better understanding of the market adoption of the gear motors industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the high demand for large-scale industrialization and infrastructural development in the region. Governments in Asia-Pacific are currently focusing on improving existing infrastructure, the increasing investment in wind power projects in the region. For instance, in 2021, China’s total renewable energy capacity increased by 10.2 percentage points as compared to 2015. The capacity exceeded 1,000 GW in 2021, according to the National Energy Administration, accounting for 43.5% of the country’s total power generation capacity.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global gear motors market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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