The advent of magnetic gearboxes is one of the major trends in the global geared motors industry.
According to the latest Arizton's market research report, the global geared motors industry to be valued at approximately USD 27 Billion by 2026, growing at a CAGR of around 5% during the forecast period.
Global Geared Motors Industry Growth
With the increasing investments in industrial sectors, expansion, and upgradation, the demand for geared motors is expected to witness significant growth. Growth in mining activities and production of mined materials in China, India, and other developing countries is expected to fuel the production of geared motors in countries with large mining sectors. The automotive, power generation, oil & gas, and metal & mining industries are dependent on the economic growth of the country/region and can witness fluctuating demand in the global geared motors industry. AC geared motors are estimated to hold the highest share in the global geared motors industry and is anticipated to witness higher growth than the DC motors segment due to the high cost of brushed DC motors.
Emergence of Magnetic Gearboxes
Magnetic gears are the ones where power and torque transmissions are carried out without contact and with the assistance of magnetic powers. As a result, there is no noise, vibration, and friction, unlike mechanical gear transmissions. This eliminates the need for lubrication and significantly lowers cost. Heavy investments are also being made in magnetic geared motors. Many end-use industries are registering high demand for motors coupled with magnetic gearboxes due to several advantages offered, such as higher efficiency and low cost. The advent of magnetic gearboxes is one of the major trends in the global geared motors industry and is expected to witness high growth over the next few years.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by motor type, sales channel, gear type, rated power, end-user, and geography
- Competitive Landscape – 9 Key Company Profiles and 8 Other Prominent Vendors
Global Geared Motors Industry – Geographic Analysis
India and China are expected to be the fastest growing market in the global geared motors industry, supported by a rapid shift toward urbanization and industrialization. Owing to continuous automation in the industrial sector in several APAC countries, activities such as manufacturing, construction, and power generation, and mining are significantly increasing. Industries that are fueling the demand and revenue generated from geared motors include chemical, marine, mining, and F&B. The market is expected to see major changes in the technological aspect, particularly due to the increased efficiency of the motor. F&B is the largest manufacturing industry in Europe, generating a turnover of over USD 1 trillion and more than USD 260 billion in value-added in 2019. The highly established F&B industry is expected to drive the demand for geared motors in Europe.
The players of the global geared motors industry are likely to be adversely affected by the rapidly evolving technological climate, as the characteristics of this sector are continuous developments and improvements according to schemes and government policies. The global geared motors industry is characterized by the presence of diversified international and regional suppliers, with international players growing their market footprint, it is becoming increasingly difficult for regional suppliers to compete with them, particularly about features such as quality, technology, and price. The competitive environment in this market is expected to intensify further with an increase in product/service extensions, technological innovations, and M&As. Furthermore, improving global economic conditions will fuel market growth, making it an exciting time for new products to be introduced.
Looking for more information? Click Here
About Arizton Advisory & Intelligence
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize fool proof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Arizton Advisory & Intelligence
Chicago, Illinois, 60605
Call: +1-312-235-2040/+1 302 469 0707
Apr 15, 2021
Incorporation of IoT is Significantly Developing the U.S. HVAC Services Market
In 2020, Carrier announced increasing R&D spending to USD 50 million in order to drive sustained...
Apr 15, 2021
Is Online Distribution Channel Dominating the BGM Consumables Market?
The online segment is dominating the BGM consumables market share by distribution channels....
Apr 10, 2021
Is Cloud-Based Application Witnessing High Demand in the Global LIMS Market?
The cloud-based segment occupied over 44% of the global LIMS market share in 2020....