Geared Motors Market Size to Reach Revenues of around USD 27 Billion by 2026 - Arizton

News provided by

Dec 15, 2020, 14:00 ET

CHICAGO, Dec. 15, 2020 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global geared motors market report.

The global geared motors market is expected to grow at a CAGR of approximately 5% during the period 2020−2026.

Key Highlights Offered in the Report:

1. The end-user demand is expected to slow down in 2020 on account of the COVID-19 pandemic. The severe downturn in the economies of major countries impacted the market in H1 2020 and is expected to have an impact on operations in the manufacturing sector until H1 2021.

2. The automotive, power generation, oil & gas, and metal & mining industries, in particular, are dependent on the economic growth of the country/region and can witness fluctuating demand for geared motors.

3. Markets such as APAC and Latin America are expected to witness the highest CAGR, estimated to be over 6% and 4%, respectively during the forecast period. This is mostly attributed to increasing investments by developed countries, favorable government policies and FDI, and shifting focus on domestic manufacturing.

4. China is expected to grow at the highest CAGR during the forecast period owing to presence of a huge population pool, industrial establishments, growing economy, and increasing industrial expenditures.

5. In terms of end-users, the F&B industry is expected to generate the highest demand for geared motors and is anticipated to further dominate the market during the forecast period.

6. Helical geared motors account for the highest share in the geared motors market however, owing to their high efficiency and high load capacity, planetary geared motors are expected to exhibit the highest CAGR during the forecast period.

7. AC geared motors are estimated to hold the highest share in the geared motors market and is anticipated to witness higher growth than the DC motors segment due to high cost of brushed DC motors.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by gear, motor, sales channel, rated power, end-user, and geography
Competitive Landscape – 9 key vendors and 8 other vendors

Get your sample today! https://www.arizton.com/market-reports/geared-motors-market

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.
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.
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.

Geared Motors Market by Motor Type

Geared Motors Market by Sales Channel

Direct Sales
Indirect Sales

Geared Motors Market by Gear Type

Helical
Planetary
Helical-Bevel Gear
Worm
Others

Geared Motors Market by Rated Power

Up to 7.5 kW
7.5 kW–75 kW
Above 75 kW

Geared Motors Market by End-user

Food & Beverages
Automotive
Metal & Mining
Chemicals
Material Handling
Oil & Gas
Packaging
Cements
Marine
Others

Geared Motors Market – Dynamics

The agriculture industry, the producer of the basic commodity, i.e., food, is expected to grow exponentially during the forecast period owing to the rising population and increasing demand for quality and organic food. Moreover, rising technological adoption, machines, and equipment in the industry are expected to drive the demand for geared motors. India is one of the largest manufacturers of farm equipment such as tractors, harvesters, and tillers. This reflects the high demand opportunity for geared motors in the country. Moreover, the demand for wood for furniture production also boosts timber production. Therefore, the demand from the agriculture and forestry industry is expected to boost the demand for geared motors during the forecast period.

Key Drivers and Trends fueling Market Growth:

Emergence of Magnetic Gearboxes
Increasing Wind Power Installations
Infrastructural Development in Emerging Countries
Rise in Automation Expenditure

Geared Motors Market – Geography

APAC accounts for the highest share of the global geared market in 2020 and is expected to grow at a significant rate further. The major factors driving the demand for geared motors in the region are rapid urbanization and industrialization in the region. The presence of some developed countries, along with some other fastest-growing countries, demand for geared motor from all end-user industries contributes to the demand for geared motors. Owing to continuous automation in the industrial sector in several APAC countries, activities such as manufacturing, construction, and power generation, and mining are significantly increasing. Moreover, investment and expansion in emerging nations in APAC are some of the key strategies of several vendors. Hence, as a result, the sales of geared motors in the region are expected to rise during the forecast period further.

Get your sample today! https://www.arizton.com/market-reports/geared-motors-market

Geared Motors Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain

APAC

China
Japan
South Korea
Australia
India

Latin America

Brazil
Mexico
Chile
Rest of Latin America

Middle East & Africa

Saudi Arabia
Turkey
Rest of Middle Eastern Countries

Major 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

Explore our industrial machinery profile to know more about the industry.

Read some of the top-selling reports:

About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

Mail: [email protected]

Call: +1-312-235-2040
+1-302-469-0707

SOURCE Arizton Advisory & Intelligence