Global Gear Motors Market Size To Cross $31.07 Billion by 2030, at a 6.01% CAGR: According to Zion Market Research
According to a market research study published by Zion Market Research, the demand analysis of Global Gear Motors Market size revenue was around $20.01 billion in 2022 and is estimated to grow about $31.07 billion by 2030, at a CAGR of approximately 6.01% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are Radicon, Winergy, Elecon Engineering Company Limited, Siemens AG, Johnson Electric Holdings Limited, Eaton Corporation plc, Portescap Inc., Bosch Rexroth AG, Bonfiglioli Riduttori S.P.A., Emerson Electric Co., Bison Group, Baldor Electric Company, BFT Automation UK Ltd., Sumitomo Drive Technologies, Brevini Power Transmission, Watt Drive AntriebsTechnik GmbH, Varvel SpA, Leroy Somer, Bauer Gear Motor GmbH, Framo Morat Group, China High Speed Transmission Equipment Group Co. Limited, WEG S.A., Eaton Corporation PLC, etc.
Raleigh, NC, March 23, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Gear Motors Market By Product (Gearbox And Gear Motor), By Gear Type (Helical, Helical-Bevel, Planetary, And Worm), By Rated Power (Up To 7.5kW, 7.5kW To 75kW, And Above 75kW), By Torque (Up To 10,000 Nm And Above 10,000 Nm), By End-User Industry (Wind Power, Material Handling, Food & Beverage, Cement & Aggregates, Metals & Mining, Automotive, Construction, Power Generation, Chemicals, Rubber, & Plastics, And Marine), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Gear Motors Market size & share in terms of revenue was valued at USD 20.01 billion in 2022 and it is expected to surpass around USD 31.07 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.01% during the forecast period 2023 to 2030.”
What are Gear Motors? How big is the Gear Motors Industry?
The global gear motors industry size was nearly $20.01 Billion in 2022 and is predicted to increase to approximately $31.07 Billion by 2030 along with registering a CAGR of nearly 6.01% from 2023 to 2030.
Gear motor is an integration of a gearbox and an electric motor. Moreover, the gearbox helps in restricting the motor shaft speed and enhances the ability of the gear motor to output torque. Reportedly, the gear motors are used for reducing shaft speed and increasing torque output for moving heavy objects, thereby increasing the popularity and use of gear motors. Precisely, a motor made using the assembling of speed gears is referred to as a gear motor. Reportedly, the gear motor can be moved in various directions including tilted, horizontal, and vertical directions.
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Global Gear Motors Market: Growth Factors
An increase in the number of applications in a slew of electrical equipment will spur the global gear motors market trends. Large-scale penetration of gear motors in power-generating industries as well as in food & beverages and wind power materials-producing businesses will steer the expansion of the gear motors market across the globe. A prominent increase in the number of farming ventures and the thriving agriculture sector will scale up the gear motors market revenue in the years to come.
However, huge initial costs and the need for recruiting additional staff for providing proficient after-sales services to the customers leading to the incurrence of huge expenditure for the firms can put brakes on the growth of the gear motors industry in the coming years. Nonetheless, an increase in research & development activities for launching new gear motors and easy access to cost-efficient geared motor services will open new vistas of growth for the global industry.
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|Market Size in 2022||USD 20.01 billion|
|Projected Market Size in 2030||USD 31.07 billion|
|CAGR Growth Rate||6.01% CAGR|
|Key Market Players||Radicon, Winergy, Elecon Engineering Company Limited, Siemens AG, Johnson Electric Holdings Limited, Eaton Corporation plc, Portescap Inc., Bosch Rexroth AG, Bonfiglioli Riduttori S.P.A., Emerson Electric Co., Bison Group, Baldor Electric Company, BFT Automation UK Ltd., Sumitomo Drive Technologies, Brevini Power Transmission, Watt Drive AntriebsTechnik GmbH, Varvel SpA, Leroy Somer, Bauer Gear Motor GmbH, Framo Morat Group, China High Speed Transmission Equipment Group Co. Limited, WEG S.A., Eaton Corporation PLC, and SEW-Eurodrive.|
|Key Segment||By Product, By Rated Power, By Gear Type, By Torque, By End-User Industry, And By Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs. Explore purchase options|
Gear Motors Market: Segmentation Analysis
The global gear motors market is divided into product, gear type, rated power, torque, end-user industry, and region.
In terms of product, the gear motors market globally is segmented into gearbox and gear motor segments. Furthermore, the gearbox is anticipated to dominate the product landscape in the coming years. The segmental growth can be attributed to benefits offered by gearbox such as compact design, low weight, high torques, high gear ratios, and coaxial input & output.
In terms of gear type, the global gear motors market is divided into helical, planetary, helical-bevel, and worm segments.
On basis of rated power, the gear motors industry across the globe is bifurcated into up to 7.5 kW, 7.5 kW To 75 kW, and above 75 kW segments. Moreover, the up to 7.5 kW segment, which accounted for the major market share in 2022, is anticipated to dominate the rated power landscape in the coming years. The segmental growth can be owing to the large-scale demand for gear motors with up to 7.5 kW in various sectors.
Based on the end-user industry, the global Gear Motors industry is bifurcated into Wind Power, Food & Beverage, Metals & Mining, Automotive, Construction, Cement & Aggregates, Power Generation, Chemicals, Rubber, & Plastics, Material Handling, and Marine segments.
On basis of torque, the gear motors market across the globe is bifurcated into up to 10,000 nm and above 10,000 nm segments. Moreover, the up to 10,000 nm segment is anticipated to record the highest CAGR during the forecast timespan. The growth of the segment can be attributed to the large-scale use of up to 10,000 nm torque in robots, machine tools, factory automation gantry, and welding indexing.
The global Gear Motors market is segmented as follows:
- Gear Motor
By Rated Power
- Up to 7.5kW
- 7.5kW to 75kW
- Above 75kW
By Gear Type
- Up to 10,000 Nm
- Above 10,000 Nm
By End-User Industry
- Wind Power
- Material Handling
- Food & Beverage
- Cement & Aggregates
- Metals & Mining
- Power Generation
- Chemicals, Rubber, & Plastics
Browse the full “Gear Motors Market By Product (Gearbox And Gear Motor), By Gear Type (Helical, Helical-Bevel, Planetary, And Worm), By Rated Power (Up To 7.5kW, 7.5kW To 75kW, And Above 75kW), By Torque (Up To 10,000 Nm And Above 10,000 Nm), By End-User Industry (Wind Power, Material Handling, Food & Beverage, Cement & Aggregates, Metals & Mining, Automotive, Construction, Power Generation, Chemicals, Rubber, & Plastics, And Marine), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”– Report at https://www.zionmarketresearch.com/report/gear-motors-market
Some of the main competitors dominating the global Gear Motors market include –
- Elecon Engineering Company Limited
- Siemens AG
- Johnson Electric Holdings Limited
- Eaton Corporation plc
- Portescap Inc.
- Bosch Rexroth AG
- Bonfiglioli Riduttori S.P.A.
- Emerson Electric Co.
- Bison Group
- Baldor Electric Company
- BFT Automation UK Ltd.
- Sumitomo Drive Technologies
- Brevini Power Transmission
- Watt Drive AntriebsTechnik GmbH
- Varvel SpA
- Leroy Somer
- Bauer Gear Motor GmbH
- Framo Morat Group
- China High Speed Transmission Equipment Group Co. Limited
- WEG S.A.
- Eaton Corporation PLC
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the Gear Motors market is likely to expand at a CAGR of around 6.01% during the forecast period (2023-2030).
- In terms of revenue, the Gear Motors market size was valued at around US$ 20.01 billion in 2022 and is projected to reach US$ 31.07 billion by 2030.
- The gear motors industry is anticipated to record massive growth over the forecast period due to surging wind power deployments and minimal cost of gear motors as well as its compact nature.
- Based on gear type, the helical-bevel segment contributed to a major share of the global market in 2022
- On basis of the end-user industry, the automotive segment is expected to account for a major share during the assessment period.
- Region-wise, the Asia-Pacific Gear Motors market is projected to record massive growth over the assessment timespan.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Gear Motors industry?
- What are the main driving factors propelling the Gear Motors Market forward?
- What are the leading companies in the Gear Motors Industry?
- What segments does the Gear Motors Market cover?
- How can I receive a free copy of the Gear Motors Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Product, By Rated Power, By Gear Type, By Torque, By End-User Industry, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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The gear motors market in the Asia-Pacific zone is slated to accumulate a major chunk of the global market revenue share over the analysis timeline. Moreover, the regional market expansion in the next couple of years can be due to a surge in the capacity of the gearbox and gear motors producing units in countries such as India and China. Apart from this, the availability of strong infrastructure facilities and exponential demand for wind power generating plants in the emerging economies of the Asia-Pacific will open new vistas of growth for the market in the region. Massive preference for renewable energy as firms in the region are becoming more aware of environmental degradation caused due to air pollution as a result of fuel emissions in the atmosphere will further boost the regional market growth trends.
Furthermore, the gear motors industry in the North American region is anticipated to record the fastest CAGR over the projected period. The growth of the industry in the sub-continent can be credited to escalating demand for gear motors across the power generating sector and chemical as well as mining industries. Growing demand for clean energy will translate into humungous product penetration in various end-use industries of the region.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- In the first half of 2019, Premium Transmission, a key Indian manufacturer of gear and gearboxes, increased its production capacity of gear motors, fluid coupling, and gearboxes by establishing a new unit in Kolkata in India. The move will help export its products to various industries such as steel, cement, power, construction, and oil & gas. The initiative will benefit the expansion of the gear motors industry in India.
- In the first quarter of 2022, Flender, a German-based firm that supplies mechanical & electric drive tools, acquired Moventas, a Finnish firm that manufacture mechanical power transmission devices and wind turbine gearboxes. The move will help Flender further expand its wind turbine gearbox business portfolio in the coming years.
To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/gear-motors-market
FREQUENTLY ASKED QUESTIONS
- What is Gear Motors?
- Which key factors will influence global Gear Motors market growth over 2023-2030?
- What will be the value of the global Gear Motors market during 2023-2030?
- What will be the CAGR value of the global Gear Motors market during 2023-2030?
- Which region will record the highest growth in the Gear Motors industry globally?
- Which are the major players leveraging the global Gear Motors market growth?
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