Rising investment in heavy industries and end user industry segments such as materials, wind power, food and beverages is driving the geared motors market. Economic stability across the market is expected to increase the consumer spending in gearbox motors market leading to growth and demand for the market and its products. Rising concerns over the escalating energy costs and environmental concerns would promote the use of wind power farms. Thus, use of gear motors in turbine of non-conventional energy generators such as wind and hydroelectric power is one of the major market segments of the geared motors market. The demand of geared motors from non-conventional energy sources sector is expected to drive the market over the coming years. At the same, the ease of use and simplicity of the design are facilitating the widespread acceptance of gear motor technology across the end-user segments and applications.
Geared motors are cost effective for mechanical, industrial and other power transmission applications. Flexibility in usage and modular design led to the cost effectiveness of the geared motors. However, there are many new technologies which are posing a challenge for growth of geared motors market. For instance, variable frequency drives is a technology restraining the growth of this market. Falling prices, increasing awareness about the advantages and widespread availability of the electric drives are motivating the end users of geared motors market to adopt this newer technology. Tough many potential applications are being addressed by the geared motors successfully; geared motors are finding it difficult to penetrate advance and new applications to increase the market share in motors market. Investing in research and development for the development of cost effective and solutions in geared motors market would open newer opportunities for geared motors market.
Global geared motors market is segmented on the basis of type of gearbox, type of gear box mounting, end use industry and geography. On the basis of type of gear box used in motor the global geared motors market is segmented into helical gearboxes geared motors, bevel gearboxes geared motors, worm gearboxes geared motors and planetary gearboxes geared motors. On the basis of gear box mounting the geared motors market is segmented into in line geared motors and shaft mounted geared motors. Geared motors find their application in various industry sectors. Thus, based on the end-use industry the geared motors market is segmented into metals and mining industry, material handling industry, food and beverages industry, power industry, chemical industry, construction industry, petrochemical industry, pulp and paper industry, heavy machinery industry, water and waste water management industry, oil and gas industry, agriculture industry and other industry. Currently North America is the largest market for geared motors in terms of market share and European market for geared motors has recorded consistent growth in recent years.
Global geared motors market is highly competitive in nature. Siemens AG, Radicon. (Elecon Group Company), Johnson Electric, Framo Morat Group, Portescap Inc., Varvel SpA, Leroy Somer, Bauer Gear Motor, Bison Group, Sumitomo Drive Technologies, SEW-Eurodrive, BFT Automation UK Ltd. and WEG S.A., among others are some of the major players in global geared motors market.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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