Geared Motors Market Scope
A geared motor is a precise type of electrical motor which is designed to produce high torque while maintaining a low horsepower, or low speed, motor output. Gears actually convert shaft speed into torque at specific ratios, with minimum efficiency losses, making it possible to create the ideal torque output and speed by adding the suitably sized and configured gearbox. Geared motors are used in applications which require lower shaft speed and higher torque output. This describes a wide range of applications and scenarios, comprising many of the machines and equipment we interact with on a daily basis. Regardless of what type of gear motor one dealing with, they all work in the same manner.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | SEW-Eurodrive GmbH & Co. KG (Germany), Siemens AG (Germany), Bonfiglioli Riduttori S.p.A (Italy), Winergy (Germany), Bauer Gear Motor GmbH (Germany), Watt Drive Antriebstechnik GmbH (Germany), Elecon Engineering Company Ltd. (India), Eaton Corporation PLC (Ireland), Emerson Electric Co. (United States) and China High Speed Transmission Equipment Group Co. Ltd. (China) |
CAGR | 6.6% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Geared Motors market throughout the predicted period.
SEW-Eurodrive GmbH & Co. KG (Germany), Siemens AG (Germany), Bonfiglioli Riduttori S.p.A (Italy), Winergy (Germany), Bauer Gear Motor GmbH (Germany), Watt Drive Antriebstechnik GmbH (Germany), Elecon Engineering Company Ltd. (India), Eaton Corporation PLC (Ireland), Emerson Electric Co. (United States) and China High Speed Transmission Equipment Group Co. Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Baldor Electric Company (United States), Johnson Electric Holdings Limited (Hong Kong) and Brevini Power Transmission S.p.A. (Italy).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Geared Motors market by Type and Region with country level break-up.
On the basis of geography, the market of Geared Motors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2023, Mill Gears Pvt. Ltd., a Gujarat-based, leading company in industrial innovation, launched one of the world’s largest Gearbox designed especially for the sugar mill industry. This revolutionary product looks forward to marking a significant leap in the industrial engineering segment and setting a new benchmark for efficiency and performance.
On 6 May, 2019 — Johnson Electric today announced a new launch BLDC motor platform E6 for Power Tools. Its robust design with compact size and proven reliability in application fields provide high efficiency, long life and budget solution to power tools customers.
Influencing Trend:
Growing Renewable Energy Sector
Market Growth Drivers:
Compact & Modular Design and Mechanical Simplicity of Geared Motors
Challenges:
High Manufacturing Cost of Geared Motors
Restraints:
High Maintenance Cost of Geared Motors and Rising Usage of Direct Drives & Variable Speed Drives
Opportunities:
Growing Development of Hybrid Technology
Key Target Audience
Manufacturers of Geared Motors, Suppliers of Raw Materials, Wholesalers, Distributors, and Retailers of Geared Motors, Governmental Bodies and Research Firms