Global Off-the-shelf Gearbox and Drives Market 2016-2020
About Off-the-shelf Gearbox and Drives
Off-the-shelf gearbox and drives have varying design factors such as gear ratio, efficiency, size and backlash characteristics for different industrial applications, which determine the performance and overall cost of the gearbox. A noted example is the orientation of the gear teeth, which determines the overall performance of the gears in gearboxes.
Technavio’s analysts forecast the global off-the-shelf gearbox and drives market to grow at a CAGR of 2.75% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global off-the-shelf gearbox and drives market for 2016-2020. To calculate the market size, the report discusses the major drivers influencing market growth and the challenges faced by the vendors and the market as a whole.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Off-the-shelf Gearbox and Drives Market 2016-2020
Technavio recognizes the following companies as the key players in the global off-the-shelf gearbox and drives market: Bonfiglioli, Renold, Sumitomo Drive Technologies, David Brown Engineering, and Timken.
Other prominent vendors in the market are: ABB, AOKMAN, Befared, Emerson Electric, GearTec, Hansen, IGWA, Involute, Kumera, Rexnord, Rossi, SEW-EURODRIVE, Siemens, STOBER, TECO-Westinghouse Motor Company, Turner Uni-Drive, Watt Drive-WEG, and Wikov.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is availability of alternate gearbox technology. Magnetic principles and components find widespread use in electric motors and non-contact drive couplings. R&D in the industrial applications of magnets may help magnets replace mechanical gears in power transmission systems. Such a change may create far-reaching consequences. Thus, industry observers note that magnet-based power transmission components may become the norm in the future. The use of magnets in transmission components offers distinct advantages to industrial gear designers. Thus, it should be noted that conventional transmission systems, couplings, dampers, electrical machines, and actuators suffer from design limitations and drawbacks.”
According to the report, one of the primary drivers in the market is rise in investments in oil and gas pipeline projects. Fossil fuels continue to dominate the energy market despite increasing preference of green and renewable energy. The recent decline in crude oil and natural gas prices is driving oil and gas companies to cut costs and adopt more efficient exploration and transportation processes and methods. Unforeseen equipment downtime also results in high equipment costs. Pipelines are deemed as the safest and most efficient way of transporting crude and natural gas over long distances. Therefore, oil and gas companies are investing in robust pipeline networks for cost-effective fossil fuel transport. The choice of pipeline compressors and pumps is influenced by efficiency, cost, operating environment, and reliability. In Europe and North America, pipeline conditions are relatively non-harsh as temperatures are not extreme. Thus pipeline stations are easily accessible for supervision and repair.
Further, the report states that one major challenge in the market is rising demand for direct drive systems. A variable frequency drive (VFD) can continuously control the speed of the motor by calibrating the voltage and frequency supplied to the motor unlike a gearbox and mechanical drives, which provide only discrete speed control. In recent times, variable speed drives are being increasingly preferred as they can operate motors over a wide range of torque, speed, power, and other characteristics. End-users also incorporate variable direct drive technology to enhance reliability and reduce maintenance costs. Direct drives are also preferred due to the streamlined arrangement of generators used in the system and the declining costs of permanent magnets. We estimate that the global electric drive market was valued at $18.67 billion in 2015, which is predicted to reach $26.16 billion in 2020, growing at a CAGR of 6.98%. Electric drives have been adopted in most major industries such as power, oil and gas, cement, steel, chemical and petrochemical, and food and beverage industries to name a few. Such development can overshadow the market of the off-the-shelf gearbox and drives system.
Bonfiglioli, Renold, Sumitomo Drive Technologies, David Brown Engineering, Timken, ABB, AOKMAN, Befared, Emerson Electric, GearTec, Hansen, IGWA, Involute, Kumera, Rexnord, Rossi, SEW-EURODRIVE, Siemens, STOBER, TECO-Westinghouse Motor Company, Turner Uni-Drive, Watt Drive-WEG, Wikov.