Gear Reducer Market – Overview
Gear reducer is a mechanism through which the energy output of the high-speed engine or motor is transferred to another mechanical component. This transfer or power is achieved by lowering the rotational speed at a greater torque. This also delivers superior mechanical safety by cutting down the speed of the rotating device. The number of gears that are used in the gear reduction assembly largely depends upon the output speed and the requirement of the applications.
Gear Reducer Market – Notable Developments
Some of the key developments in the global gear reducer market are given below:
- Recently, the government of India has announced that it is planning to launch 100 new airports in the next 15 years with a total investment of around 4 lakh crore. This is expected to present a huge business opportunity for the growth of the gear reducer market as conveyer belts will be installed that need gear reduction motors.
- As per the recent report of GWEC, the installed wind power capacity stood at around 168,732 KW. This capacity grew by 19,660 KW in the following year. This has been due to the growing installation of wind power projects that deploy gear reducer.
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Gear Reducer Market – Drivers and Restraints
There are numerous driving factors that are helping to drive the growth of the global gear reducer market. One of the key driving factors for the market growth has been the strict government regulations about the carbon emissions. With the help of gear reducer, the machines functions smoothly without producing much carbon emissions. This has thus been driving the growth of the global market.
Another important driving factor for the growth of the global gear reducer market is the launch of new magnetic gear reducer. A magnetic gear reducer deploys a permanent magnet to transfer the torque from the input shaft to the output shaft. This transfer of torque happens without any mechanical contact. With this complete lack of contact between the two rotors, the gear work more smoothly. The gear functioning does not alter even if the torque exceeds the given speed limit. With magnetic gear reducer, there are several advantages such as lower cost of maintenance, higher reliability, more efficiency, durability, lower vibration and noise, lower energy consumption, and higher bearing overload capacity.
With such host of benefits available, naturally, the growth of the market is expected to be highly positive over the course of the given forecast period of 2019 to 2027.
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Gear Reducer Market – Geographical Outlook
The global gear reducer market is divided into five major regional segments to give a better understanding of its overall working dynamics. These regions are Latin America, North America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global gear reducer market is dominated by the Asia Pacific region. The growth of the market is driven by the growing number of wind power projects in the emerging economies such as China and India. Moreover, these emerging economies are spending heavily on the development of their domestic infrastructure. This is also helping to boost the growth of the gear reducer market in the region. The growing installation of wind turbines is expected to have a positive impact on the growth of the gear reducer market in the region. In addition to this, the growing industrialization in these developing economies are creating demand for a better power supply across the areas. This is also expected to drive the growth of the market in the region.
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