PUNE, India, April 4, 2016 /PRNewswire/ --
The report "Gear Motors Market by Product (Gearbox & Gear Motor), by Gear Type (Helical, Planetary, Helical-Bevel, Worm, & Others), by Rated Power, by Torque (Up to 10,000 Nm, Above 10,000 Nm), by Industry & by Region - Global Trends & Forecast to 2021", published by MarketsandMarkets, The market is projected to grow from an estimated USD 18.08 Billion in 2016 to USD 23.94 Billion by 2021, registering a CAGR of 5.8% from 2016 to 2021.
Browse 89 Tables and 56 Figures spread through 178 Pages and in-depth TOC on "Gear Motors Market"
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The increasing demand for power transmission equipment in industries, growing concerns regarding efficient power transmission, and increasing infrastructural development in developing regions are driving the global market for gear motors.
The wind power segment is expected to occupy the largest share of the Gear Motors Market, by industry
Wind power is the largest end-use industry for gear motors, due to the large-scale application of speed-up gearboxes in wind turbines. Material handling and food & beverage are other major end-use industries that employ gear motors. The wind power segment of the Gear Motors Market is expected to grow at the highest CAGR during the forecast period. The report segments the Gear Motors Market on the basis of end-use industries into metals & mining, cement & aggregates, automotive, power generation (excluding wind power), construction, chemicals, rubber, & plastics, marine, and other industries.
Gear motors rated up to 7.5 kW are expected to account for the largest share of the Gear Motors Market, by rated power
Motors rated up to 7.5 kW are estimated to constitute the largest segment of the Gear Motors Market, owing to the large number of applications that fall within this segment. Most major applications in industries such as material handling, food & beverage, and automotive employ motors rated within this range. Gear motors rated between 7.5 kW to 75 kW formed the second-largest segment in 2015, owing to the large percentage of motor-driven applications within this range throughout the production, transportation, and processing cycle.
Asia-Pacific is expected to dominate the global Gear Motors Market
Asia-Pacific is estimated to be the largest market for gear motors, with China expected to lead the market in terms of growth rate from 2016 to 2021. The increasing investments in renewable energy, especially wind power generation, and industrialization in countries such as China, Japan, and India propels the growth of the market in the region. In this report, the Gear Motors Market has been analyzed with respect to five regions namely, Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. The gear motors industry is expanding in developing countries, owing to rising industrialization and infrastructural development activities. Increasing wind power installations and the low cost and compact nature of the equipment are major factors driving the global Gear Motors Market.
To enable an in-depth understanding of the competitive landscape, the report profiles some of the leading players in the Gear Motors Market, including SEW-Eurodrive GmbH & Co. KG (Germany), Siemens AG (Germany), Bonfiglioli Riduttori S.p.A (Italy), and Winergy (Germany). Other players in the market include Bauer Gear Motor GmbH (Germany), Watt Drive Antriebstechnik GmbH (Germany), Brevini Power Transmission S.p.A. (Italy), Elecon Engineering Company Ltd. (India), Eaton Corporation PLC (Ireland), Emerson Electric Co. (U.S.) and China High Speed Transmission Equipment Group Co. Ltd. (China). Major players in the market are trying to penetrate developing economies, and are adopting various methods to increase their market share.
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