21-Mar-2023 | Zion Market Research
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.
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.
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 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.
This review is based on a report by Zion Market Research, 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.”- Report at https://www.zionmarketresearch.com/report/gear-motors-market
Key players in the global gear motors market include:
By Rated Power
By Gear Type
By End-User Industry
Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.
Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651