Gear Motor Market Size, Share & COVID-19 Impact Analysis, By Type (Helical Gear, Planetary Gear, Bevel Gear, Worm Gear, Screw Gear, Others), By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW, Above 75 kW), By Torque (Up to 10,000 Nm, Above 10,000 Nm) and by End-user (Material Handling, Automotive, Construction, Power Generation, Mining, Food & Beverage, Manufacturing Industry, Agriculture, Others) and Regional Forecast, 2021-2028

The global gear motor market size was USD 25.18 billion in 2020. The market is projected to grow from USD 26.78 billion in 2021 to USD 35.81 billion by 2028 at a CAGR of 4.2% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with gear motor witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market exhibited a decline of -9.1% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.

A gear motor is a drive system that combines an induction motor and gears to create high torque at low power and low speed. A gear motor is essentially a gear reducer and an AC or DC electric motor combined. A single unit houses both the gear and the motors. Wind power, pulp and paper, lumber, mining, steel and aluminum, food processing, printing, textile, and sewage disposal machinery are just a few of the many end-use applications for gear motors.

COVID-19 IMPACT

COVID-19 Will Stifle Market Growth Due To A Lack of Investment Opportunities

The global health emergency triggered by the abrupt emergence of the SARS-CoV-2 virus has had a substantial impact on a variety of industries. As a result, the gear motor markets have been impacted by the global health crisis. The outbreak of dangerous diseases has hampered several growing economies that primarily focus on integrating clean power energy-producing technology. China and India, for example, are two of the most important countries involved in renewable energy installation around the world. In addition, India declared a statewide lockdown, halting most of the industrial operations, domestic and international trade, construction activity, automobile mobility, and a slew of other measures to contain the spread of COVID-19 that wreak havoc on the country's economy.

LATEST TRENDS

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Surging Adoption of Internet of Things (IoT) across Various Industries to be a Prominent Trend

Gear motor usage will be boosted by the fast-increasing modernization of industrial infrastructure, as well as rising energy consumption in emerging nations. For system automation, gear motors are generally employed in conveyor belts, overhead cranes, and bucket elevators. Gear motors are employed in the industrial business during the manufacturing process. They're used in a variety of applications for rolling, processing, and refining raw materials. Band saws, drive rollers, bending presses, and tube bending machines are among them. Gear motors are used in lifts, winches, medical tables, jacks, and robots because they allow low-cost, low-horsepower motors to create powerful motive force at low speeds.

According to United Nations Conference on Trade and Development (UNCTAD), the global Internet of Things (IoT) market is expected to reach USD 1.5 Trillion by 2025. This market is expected to surge in the near future as IoT systems are becoming more interconnected within process operations through data analytics and automation systems connectivity. This factor is expected to drive the global market outlook during the forecast period.

DRIVING FACTORS

Increasing Investments in the Asia Pacific for Power Generation to Favor Growth

China, India, and South Korea have risen to prominence as key investment hubs in the Asia Pacific. The Asia Pacific region's construction and commercial sectors have grown significantly as a result of the region's continued focus on manufacturing, tourism, and the establishment of key offices by numerous MNCs. China generates 28 percent of the world's electricity, according to the International Energy Agency (IEA), and its electrical demand continues to rise. In March 2021, the Indian government approved 100% Foreign Direct Investment (FDI) in the mining sector and the exploration of metal and non-metal ores via the automatic method, boosting the sector's growth. This aspect is likely to propel the gear motor market forward during the projected period.

Rising Automotive Sector in the Asia Pacific Region to Aid Growth

Due to increasing industrialization and automation, the global demand for geared motors is increasing. According to India Light Vehicle Sales 2021 Report published by LMC Automotive Ltd., the sales of light vehicle is reached to 3.9 million units in 2020, while the light vehicle sales production has estimated to reach to 4.49 million units. The solid partnership between Nissan and Mitsubishi (RNM) carries out the logistics from Japan to bring Nissan Patrol Safari and create growth potential for export. In April 2021, EURODRIVE defined new requirements for industrial gear units. The new requirements concern Assemble to Order (ATO) - 5 programs which resulted in industrial gearboxes being shipped from the manufacturing facility within 5 days. The Gulf Corporation Council (GCC) has launched a national job competition leading to more job opportunities in the region.

RESTRAINING FACTORS

High Manufacturing Cost to Hamper the Market Growth

The biggest reason that is expected to hamper the growth of the market is the cost of operation as well as the cost of maintaining the gear motor electrical failure. Manufacturing a gear motor requires an integrated unit of gear assembly, shaft, motor, wirings, and so on. The prices of the components required for gear motors are highly volatile, which makes the overall assembly of the device expensive compared to competing products such as direct drives. Furthermore, the price difference has little consequence when the process is very critical and requires superior efficiency and control. This factor is largely hampering the gear motors market.

SEGMENTATION

By Type Analysis

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Helical Gear Segment to Expand at a Rapid Rate, Fueled by Use in a Wide Range of Industrial Applications

In terms of gear type, the market is segregated into helical gear, planetary gear, bevel gear, worm gear, screw gear, and others. The helical gear segment accounted for the major share of the market in 2020. The demand for the helical gear is rapidly increasing due to its compact size. It is widely used in various industrial applications, including the construction of plastics, cement, rubber, and other heavy industrial settings. It is useful in high power applications, such as crushers, extruders, coolers, and conveyors.

The planetary gear segment is the fastest-growing segment of the market owing to its excellent properties, such as high accuracy, endurance, and precision applications. This type of gearbox extends the life of equipment while also improving performance. The bevel gears segment constitutes a key gear motor market share. These are most commonly used to transmit power between shafts that intersect at a right angle. They are generally costlier and are not able to transmit as much torque, per size, as a parallel shaft arrangement. The others segment includes specialized gears, such as helical-bevel and planetary worm.

By Rated Power Analysis

7.5 kW to 75 kW Segment Accounted for the Largest Market Share with Growing Demand from End-users

Based on rated power, the market is classified into Up to 7.5 KW, 7.5 kW to 75 kW, and Above 75 KW. Wind turbines typically use 7.5 kW to 75 KW rated power motors to convert a relatively sluggish turbine blade speed to a high speed capable of generating electricity. These motors use gearboxes that are arranged in the opposite direction from those used in applications that increase torque while decreasing speed.

Wind turbines typically use 7.5 kW to 75 KW rated power motors to convert a relatively sluggish turbine blade speed to a high speed capable of generating electricity. These motors use gearboxes that are arranged in the opposite direction from those used in applications that increase torque while decreasing speed.

Up to 7.5 KW motors product is suitable for the low voltage range with small, large torque and transmission ratio, stable output, low speed, and large bearing capacity. This feature is suitable for any business equipment and industrial equipment.

By Torque Analysis

Up to 10,000 Nm Segment to Remain Dominant Due to Expanding Food & Beverage Sector

Based on torque, the market is categorized into Up to 10,000 Nm and Above 10,000 Nm. Geared motors with less than 10,000 Nm torque are widely used in the Food & Beverage industry as well as for all applications with high cleaning intensity or ambient conditions, such as dust, fluff with acid, and alkali resistant coating as standard.

Geared motors above 10,000 Nm torque are shaft-mounted geared motors with integrated torque arms that are easily integrated and economically applied. These motors ensure the highest efficiency, especially when used with frequency inverters.

By End-user Analysis

Power Generation Segment Accounted for the Largest Market Share

Based on the end-user, the market is categorized into automotive, power generation, manufacturing industry, material handling, construction, mining, food & beverage, agriculture, and others. Among these, power generation segment dominated the market in 2020. The demand for gear motors and gears is growing at a rapid pace, as it helps to drive power generation plants, including cooling towers, water turbines, and air condensers.

Material handling was the fastest-growing segment of the market in 2020, as gear motor and industrial gears are primarily used in conveyor belts, overhead cranes, and bucket elevators.

In the manufacturing industry, several gears and gear motors are used in the course of the production process. They are used in various applications that roll, process, and refine crude steel. Band saws and rollers, bending presses, driving rollers, and tube bending machines are among them.

REGIONAL INSIGHTS

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The market share is geographically categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. The Asia Pacific is a major market for gear motors owing to the rapid-growing chemical, automotive, construction, and healthcare sectors. In terms of revenue, the region accounted for 39.7% of the market in 2020. In the forecast period, the market will be propelled by rising demand for a clean source of energy and tight requirements for carbon-free emissions. Australia, China, and Southeast Asian countries account for the majority of income in the Asia Pacific market.

North America has created manufacturing infrastructure for a variety of worldwide brands, and mining activities are producing more minerals. Furthermore, the region offers vast prospective reserves for hydrocarbon exploration. Besides, favorable government investments to enhance oil and gas production from these reservoirs are expected to positively complement the product's demand. The U.S. and Canada are expanding the use of energy-efficient gear motor technologies.

In 2020, Europe was also expected to hold a sizable share of the market. Some of the primary drivers fostering regional expansion are fast-rising energy demand from diverse industries, a promising prognosis for renewable energy deployment, and an attractive regulatory framework.

In 2020, Latin America had the smallest market share. The business sector in the region's rising nations is expanding at a rapid rate. Oil and gas, mining, automobiles, and food and drinks are a few of the key industries expanding in these areas. As a result, the need for gears is expected to rise.

The Middle East & Africa is also anticipated to exhibit the highest growth rate over the projection period, owing to major intentions of several countries across the area to lessen the reliance on crude oil and natural gas for energy generation. Coupled with this, the enormous need to adopt a stable power source to assist remote places with high sun exposure and limited grid connectivity will aid expansion.

KEY INDUSTRY PLAYERS

Siemens to Focus on Expanding Its Product Line and Utilize Its Channels to Market New Products

The global gear motor and industrial gears market is highly fragmented, with a large number of small players providing gear motor to various end-use industries. Numerous players are actively operating across the globe to cater to the increasing demand for gears from the industries.

Major players also include Siemens, Bonfiglioli, SEW- EURODRIVE, Nidec Motor Corporation, Bosch Rexroth, Eaton, Regal Beloit Corporation, and Klingelnbergh GmBH, among other players. The major companies constitute around one-fourth of the market, and the remaining market is dominated by a large number of regional and local players for a variety of end-use applications. Siemens is a frontrunner in the market and it has designed a comprehensive strategic framework called Vision 2020 to drive performance in the short term, strengthening core in the medium term and scaling up in the long term. For instance, in April 2021, Siemens added a new servo motor to its Sinamics S210 drive system. The new advancement aims towards expanding its application in high-cycle rate, low inertia design required in pharmaceutical, food & beverages industries.

LIST OF KEY COMPANIES PROFILED:

• Siemens (Germany)


• Bonfiglioli (Italy)


• SEW Eurodrive (Germany)


• Nidec Motor Corporation (Japan)


• Bosch Rexroth (Germany)


• Eaton Corporation (Ireland)


• Regal Beloit Corporation (U.S.)


• Klingelnberg GmbH (Switzerland)


• Watt Drive Antriebstechnik GmbH (Germany)


• Emerson Electric Co. (U.S.)


• Elecon Engineering Co. Ltd (India)


• Brevini Power Transmission (Italy)


• Johnson Electric Holdings Limited (Hong Kong)


• Bauer Gear Motor GmbH (Germany)


• China High Speed Transmission Equipment Group Co., Ltd. (China)

KEY INDUSTRY DEVELOPMENTS:

• March 2021 - Bonfiglioli S.p.A. acquired Sampingranaggi from Bentivoglio (BO), for USD 6,055.7 million. The acquisition includes the assets of the Italian and Chinese Sampingranaggi companies, their respective warehouses, the Sampingranaggi brand, patents, designs, and products for robotics, as well as all their staff. Sampingranaggi's 2020 turnover was €21 million, of which €15 million in Italy and €6 million in China.


• December 2021 - SEW-EURODRIVE launched stainless steel servo gear motors PSH CM2H to its solutions and product portfolio. The stainless-steel servo gear motors have a hygienic design. They meet the strict guidelines of the European Hygienic Engineering Design Group (EHEDG) and the U.S. Food and Drug Administration (FDA). This newly launched series is widely used in the food, beverage, and pharmaceutical industries.


• November 2020 - Bauer Gear Motor GmbH launches IP68 Solutions for the water and wastewater industry. IP68 geared motors are best-suited for applications that deal with river or rainwater, waste, foul, and sludge-containing waters in industrial or communal areas. They are frequently used in agitators for mixing, homogenizing, extremely wet areas or completely submerged underwater.

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The global gear motor market research report presents a comprehensive assessment of the industry by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches have been adopted to make meaningful assumptions and views to formulate the market research report. Furthermore, the report covers a detailed analysis and information as per market segments, including type, rated power, torque, end-user, and regions, helping our readers to get a comprehensive overview of the global industry.

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