Gear Motor Market Overview:
During the ongoing forecast period of 2023-2030, the Gear Motor Market is likely to attain a global CAGR of 9.52% and reach a global market value worth USD 57.2 Billion by 2030.
The gear motors are electrical machinery that is capable of producing high torque at low motor speed. The Gear Motor Market caters to the field of home appliances and other electrical equipment. The gear motors are used in machines such as conveyor belts and robots. Gear motors apply on automatic door operators and other machines that are in motion.
The gear motor couples with a gear train for functioning. Gear motors are in wide use across different application segments. The gear motors industry shows moderately well growth in the forecast period.
Gear Motors, however, is not in use in fans, pumps, and scanning applications. The modular and compact design of gear motors is the key driver of the Gear Motor Market. The mechanical simplicity is also a factor behind the preference for gear motors in most segments of machinery. The increased adoption of renewable energy is also a key driver of Gear Motor Market Growth.
The gear motors industry is on its way to growing because of the rise in home appliances and compact machinery. The more the scale of the appliances reduces, the more advanced gear motors are created. Secondly, the use of more compact appliances in every field creates a natural demand for gear motors.
Key Players:
- Sumitomo Heavy Industries Ltd
- Brevini Power Transmission S.P.A.
- Elecon Engineering Company Ltd
- Emerson Electric Co
- Baldor Electric Company
- Energy
- Johnson Electric Holdings Limited
- China High-Speed Transmission Equipment Group Co. Ltd
- BonfiglioliRiduttori S.P.A
Market Segmentation
The market segmentation of the Gear Motor Industry bases upon different criteria. Some of the common criteria for segmentation are gear type, product type, and rated power. Additionally, another criterion is the torque of the motor. Furthermore, the gear type segment further divides into helical gear motor and helical bevel gear motor. Secondly, another segment is the worm gear motor category.
These are based on the type of motors and their mechanism of operation. Another segment in consideration is the planetary gear motor segment. However, among all the segments, the helical gear motor segment is the most prominent one in the forecast period. The reason behind this trend is the durability of the helical gear motor, even in high payload appliances. The regional segmentation of the Gear Motor Industry is discussed in the next section.
Regional Overview
The Gear Motor Market Size disperses over different regions of the world. To understand the revenue inflow of the Gear Motor Industry, one needs to understand the regional Gear Motor Market Share. The major regional markets of the gear motor market are North America, Asia Pacific, and Europe. Additionally, other minor regional markets combine into the Rest of the world.
Modernization and an inclination towards a sustainable lifestyle drive the key Gear Motor Market Trends in these regions. For example, the European region will contribute the highest to wind energy generation in the forecast period. Thus, the European region holds the major Gear Motor Market Share in the forecast period.
