Global Geared Motors and Drives Market 2018-2022
About Geared Motors and Drives
The geared motors and drives market appears to be highly fragmented due to the presence of several international and regional players who focus extensively on R&D and technological advancements. The competition among the players has increased due to low product differentiation. To attain a competitive advantage over the other players, the manufacturers in the geared drives and geared motors market are focusing on introducing new and innovative variants and their product portfolio varies based on price, quality, innovation, and regulatory compliance. Based on end-user the market can be segmented into food and beverage, metals and mining, automotive, wind power, oil and gas, and pulp and paper.
Technavio’s analysts forecast the global geared motors and drives market to grow at a CAGR of 5.22% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global geared motors and drives market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of geared motors and drives.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Geared Motors and Drives Market 2018-2022
Technavio recognizes the following companies as the key players in the global geared motors and drives market: ABB, BONFIGLIOLI RIDUTTORI, Mitsubishi Electric, Regal Beloit, Siemens, and Sumitomo Heavy Industries.
Other Prominent Vendors in the market are: Altra Industrial Motion, Anaheim Automation, Boneng, Dana Brevini Power – Transmission, Dematek, Eaton, Elecon Engineering, Groschopp, Johnson Electric, NORD Drivesystems, SEW-EURODRIVE, SDT Drive Technology, and Watt Drive WEG Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is emergence of magnetic gearboxes. A magnetic gear uses a permanent magnet to transmit torque from an input shaft to an output shaft without mechanical contact. Since there is no contact between the rotors, the gear will work smoothly even if the torque exceeds the speed limit. Magnetic gearboxes offer various advantages such as higher efficiency, low maintenance cost, high reliability, and low noise and vibration. Magnetic gearboxes are mainly adopted by high-speed applications and applications that subject the gearboxes to high shock and vibrations.”
According to the report, one of the major drivers for this market is focus on increasing energy efficiency in industries. It has been observed that motors consume the major share of energy in industries, which in turn results in high energy costs. Owing to the rising energy costs, industries across the globe are focusing on implementing energy-efficient techniques in their production process. With the introduction of stringent regulations that emphasize on reducing energy costs and carbon emissions, industries are focusing on adopting extensive energy-efficient methods. This will in turn, drive the demand for geared motors and drives, fueling the market’s growth prospects.
ABB, BONFIGLIOLI RIDUTTORI, Mitsubishi Electric, Regal Beloit, Siemens, Sumitomo Heavy Industries, Altra Industrial Motion, Anaheim Automation, Boneng, Dana Brevini Power – Transmission, Dematek, Eaton, Elecon Engineering, Groschopp, Johnson Electric, NORD Drivesystems, SEW-EURODRIVE, SDT Drive Technology, and Watt Drive WEG Group.
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