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The global gear motor market size was USD 6.65 billion in 2021. The market is projected to grow from USD 7.03 billion in 2022 to USD 8.91 billion by 2029 at a CAGR of 3.4% in 2022-2029. The global impact of COVID-19 has been unprecedented and staggering, with gear motors witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market exhibited a decline of -7.9% in 2020 as compared to 2019. The year-on-year growth from 2020 to 2021 is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.
A geared motor is a drive system that combines an induction motor and gearbox to produce high torque with low power and speed. It is essentially a combination of a reduction gear and an AC or DC electric motor. Gears and motors are housed in a single unit. Wind power, pulp, paper, lumber, mining, steel and aluminum, food processing, printing, textile, and sanitation machinery are a few applications for the market.
Pandemic Impacted Market Growth Due To Shutdown of Manufacturing Facilities
COVID-19 spread rapidly everywhere in the world in the year 2020. Almost every country reported infected cases. From 2020 to 2021, every country was at different stages of the pandemic. The industrial participants witnessed challenges due to lockdowns. The outbreak of COVID-19 in China in 2020 hampered the market, as there is a significant supplier of industrial motors.
As a result, the outbreak of this global health crisis had medium-term impacts on the geared motor industry. The interruption of operations in various manufacturing processes, such as the exploration and production of hydrocarbons, the establishment and growth of production facilities, and the declining trade at sea cause investment constraints. For example, the unprecedented collapse in global crude oil prices has caused the international crude oil price to surpass the USD 0 mark, in April 2020, entering a negative number for the first time in history. It has also immensely halted the onshore and offshore exploration activities. Furthermore, the interruption in the manufacturing industry will affect the demand for machinery & equipment, impacting the demand for the market.
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Increasing Acceptance of Internet of Things (IoT) In Various Industries to Augment Growth
The use of geared motors is driven by the rapidly advancing modernization of industrial infrastructure and increasing energy consumption in emerging countries. For plant automation, these motors are usually used in conveyor belts, overhead cranes, and bucket elevators. Geared motors are used in industry in the manufacturing process. They are used in various applications for rolling, processing, and refining raw materials. These include band saws, power rollers, press brakes, and pipe benders. These motors are used in elevators, winches, medical tables, jacks, and robots because they allow low-cost, low-power motors to generate strong driving forces at low speeds.
According to the United Nations Conference on Trade and Development (UNCTAD), the global Internet of Things (IoT) market is expected to reach USD1.5 trillion by 2025. This market is expected to rise sharply in the near future as IoT systems become more connected to process flows through data analysis and connectivity of automation systems. This factor is expected to affect the global market outlook over the forecast period.
Growing Number of Manufacturing Facilities to Drive Demand for Gear Motor
Gearboxes and motors are key in managing many industrial and repair functions in today's industrial environment. It is a device that controls the speed of an electric motor to make it run at a certain speed. They consist of gears forming a kinematic chain and acting on a series of rotating components. Due to the growth of manufacturing industries, the market witnessed increased demand.
In addition, different key industries require different types of motors. It is manufactured from various high-quality materials, and these industrial motors have a wide range of performance requirements to keep machines running smoothly for a long time. These motors come in various sizes and ratios to turn the main mechanical part into high speed and high torque.
Metal processing, chemical, rubber, and plastic industry are some of the largest manufacturing industries using a wide variety of machinery. More machines require a wide range of gearboxes/motors, such as planetary gears, helical gears, etc., to meet the needs of different gear ratios and torque capacities. The gearboxes/motors used in this industrial unit are available in standard configurations.
The Indian manufacturing sector witnessed a 460 % jump in 2021-22 against 2019-20, and new investment announcements by the private sector saw a 145-150 % rise in 2021-22 compared to the previous financial year.
Increased Investments in Power Generation to Boost Market Growth
Power infrastructure is a major development challenge, with around one billion people in developing countries without access to electricity. Energy is an essential factor for economic growth and development. It is a significant input source for all economic activities of all scales and sectors, including household. Furthermore, a gear motor is used in power generation plants which include thermal power plants, wind plants, and others.
Countries such as China, Japan, Germany, India, and U.S. are actively investing in renewable energy to reduce carbon emissions. According to the International Energy Agency (IEA), electricity demand continues to grow. In March 2023, the Government of India approved 100% Foreign Direct Investment (FDI) in the mining sector and exploration of metallic and non-metallic ores through automated methods to boost sector growth. This aspect is expected to drive the market during the forecast period. As it is used in wind plants, ash handling conveyors, coal handling conveyors, rotary airlock valves, traveling grates, screw conveyors, screw feeders, bagasse feeders, bagasse extractors, etc.
According to the U.S. Department of Energy, about 379.8 billion kilowatt hours of wind power will be generated in the U.S. in 2021. Wind power has emerged as the primary source of renewable energy generation in the U.S., ahead of conventional hydropower. Moreover, the U.S. is investing in wind energy as an investment which is expected to increase during the forecast period.
High Manufacturing and Maintenance Cost to Hamper the Market Growth.
The biggest reason expected to hamper the gear motor market growth is the cost of operation and maintenance due to electrical failure. Manufacturing a geared motor requires an integrated unit of gear assembly, shaft, motor, wiring, etc. Furthermore, the prices of the components needed for motors are very volatile, making the overall assembly of the device expensive as compared to competing products such as direct drives.
The manufacturing process of industrial motor is quite long, including grinding, heat treatment, and many more. Thus, high manufacturing and maintenance costs restrict the growth of the global market. Effective motor and drive system management can reduce operating costs, improve performance, and increase reliability.
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Bevel Gear to Garner Highest Share Due to its Adoption in Wide Range of Industrial Applications
Based on type, the global market is classified into helical gear, planetary gear, bevel gear, worm gear, and spur (in-line) gear.
The bevel gear segment accounted for 26.72% of the gear motor market share in 2021. Bevel gear have conical gears that transmit motion between two intersecting shafts. Bevel gears are a type where the teeth are spirally curved. Bevel gear offers advantages such as minimized installation space, an extensive selection range for output speed, a highly dynamic and energy-saving solution, a large range for output speed, etc.
The demand for helical gears is increasing rapidly due to their compact size. It is widely used in several industrial applications, including the construction of cement, plastics, rubber, and other heavy industrial environments. It is useful in high-performance applications such as crushers, extruders, coolers, and conveyors.
The planetary gear segment also holds a significant share in the market due to its excellent characteristics, such as endurance, accuracy, and specific functionality, and is characterized by its precision applications. This type of motor increases equipment life and optimizes performance. Planetary gear are available in solid or hollow construction, with various mounting options such as flange, shaft, or foot.
7.5 kW to 75 kW Segment Accounted for the Largest Share with Growing Demand from End-Users
Based on the rated power, the market is segmented into 7.5 kW to 75 kW, Up to 7.5 kW, and Above 75 kW.
7.5 kW to 75 kW segment is expected to hold a significant share and grow considerably. 7.5 kW to 75 kW consume little energy while delivering excellent performance and increasing overall productivity. It is used in marine, machining, manufacturing, assembling, etc.
Up to 7.5 kW motors are used in various application areas, such as spare parts for workshop power tools, column drills, automation, industrial applications, and conveyor belt handling. They are constructed with an aluminum body for low power and a cast iron body for high power.
Above 75 kW has an excellent power-to-weight ratio. It is ideal for applications with extreme power requirements but limited space. Above 75 kW motors are used in multi-rotor applications, gliders, naval projects, etc.
Up to 10,000 Nm to Remain Dominant Due to its Use Various Industries
Based on the torque, the market is segmented into Up to 10,000 Nm and Above 10,000 Nm
, Up to 10,000 Nm segment is expected to hold a significant share and grow at a significant rate. Up to 10 000 Nm offer benefits such as extreme speed reduction, low maintenance costs, extremely customizable, flexibility, etc. It is used in food processing, factory automation, medical equipment, heavy-duty conveyor systems, etc.
Above 10,000 Nm offers benefits such as being suitable for all heavy-duty applications, high transmittable torque, power, reliability, high shock resistance, etc. It has high torque density with robustness and high-speed operation. Above 10, 000 Nm motors can offer excellent power transfer in a very compact space owing to their angular layout.
Material Handling Industry’s Growth to Increase the Demand for Gear Motor
Based on the end-user, the market is segmented into material handling, construction, power generation, mining, food & beverage, manufacturing industry, packaging and labelling, and others Material handling is the fastest growing segment in the North American market. In material handling, the geared motors are often used in conveyor belts for transporting bulk goods and piece goods. Conveyor technology has become indispensable in producing, distributing, and processing goods. It supports and facilitates the issue, transport, storage, and picking of goods and enormously speeds up processes in the process chain.
The power generation segment accounted for a 5.2% share of the global market in 2021. Demand for geared motors is growing rapidly as they help drive power generation equipment, including cooling towers, hydro turbines, and air condensers.
The manufacturing industry is also a vital segment of the market. In the manufacturing industry, these motors are used during the production process. They are used in various applications that roll, process, and refine crude steel. These include band saws and rollers, press brakes, drive rollers, and tube benders
Asia Pacific Gear Motor Market Size, 2021 (USD Billion)
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Asia Pacific region dominates the global market. This region relies on rising construction industries and power generation activities. The industrial participants clearly understand the importance of developing energy technology and its impact on the energy and power sectors. Geared motors are widely used in coal plants and wind energy. The increased CO2 emissions will lead to developing renewable energy sector such as wind energy with improved and more efficient capacities.
North America is also set to witness the second highest growth rate between 2021 and 2029, owing to rising demand from the power generation sector and manufacturing industries such as chemical and mining. Furthermore, U.S. is the dominant country in the North American market as it has an established manufacturing sector compared to Canada. In addition, it is also one of the dominant players in the material handling industry. Furthermore, the U.S. is also a significant player in the metal sector
Europe is likely to hold a substantial portion of the industry totaling over 22.4% in 2021 of the global market. Due to the rapidly increasing material handling industry, manufacturing industries, and energy sector. A positive outlook for clean energy deployment is a key factor boosting the Europe geared motor market.
Latin America has potential growth opportunities for equipment demand due to new investment projects and innovations; Governments and companies implement investment projects to construct and expand mining and power generation facilities. Increasing energy demands due to high-speed population outbreaks have been a factor that has led various nations to choose other alternatives to meet the continuous demand. Currently, Brazil, Mexico, Argentina, and many others are significant contributors to the market in the region.
Middle East and Africa are also expected to experience the highest growth rate over the projection horizon. Several countries across the region have big intentions to reduce their reliance on crude oil and natural gas for power generation. The tremendous need to deploy a stable power source to support remote locations with high solar exposure and limited grid connectivity will support expansion.
SEW EuroDrive to Remain at Forefront with its Wide Product Offerings and Established Brand Image
SEW EuroDrive has a wide range of geared motors used across all industries. It has a network of 85 drive technology centers and 17 production plants in 52 countries worldwide. Several small and big companies in the market are operating on a regional and national level, offering geared motors of various sizes and shapes. In addition, significant companies aim to optimize device efficiency with heavy investments in research and development.
An Infographic Representation of Gear Motor Market
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The global gear motor market report highlights leading regions worldwide to offer a better understanding of the user. Furthermore, the market research report provides insights into the latest industry trends and analyzes technologies that are being deployed at a rapid pace at a global level. It further highlights some of the growth-stimulating factors and restraints, helping the reader to gain in-depth knowledge about the industry.
Value (USD Billion)
By Type, By Rated Power, By Torque, By End-User, By Region
By Rated Power
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