Press release
Gear Box and Gear Motors Market is Predicted to Expand at A CAGR Of 4.1% by 2031- TMR Study
Market Size and Growth Trends:
The global gear box and gear motors market exhibits a positive trajectory, marked by a value exceeding US$ 14.9 billion in 2021 and an estimated CAGR of 4.1% from 2022 to 2031. Projected to surpass US$ 22 billion by 2031, the market's growth is attributed to the increasing focus on high-growth applications post-COVID-19, emphasizing properties such as reasonable life, high reliability, and reasonable cost. Despite challenges such as constant inspection and maintenance, manufacturers are investing in research and development to address operational challenges and meet growing market demands.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=84835&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
Overview of Gear Box and Gear Motors Market:
Gear boxes and gear motors are integral to various industries, facilitating the transmission of speed and torque to enable the movement of devices. Used in wind power, material handling, cement & aggregator, pharmaceuticals, and construction, these components play a crucial role in enhancing industrial efficiency. The global market's growth is propelled by favorable properties tailored to diverse applications across end-use industries.
Increasing Investments in Mining and Infrastructure:
Countries like China, Australia, and the U.S. are witnessing increased investments in mining industries, leading to a higher dependence on large machinery utilizing gear box and gear motors. This trend contributes significantly to market growth. Additionally, heightened investments in infrastructure development projects globally further drive demand for gear box and gear motors across various end-use sectors.
Growth of Manufacturing Plants and Adoption of Renewable Energy:
The growth of end-use industries, particularly food & beverages, prompts key players to expand their manufacturing plants. Investments in manufacturing plants significantly boost the demand for gear box and gear motors. Governments and private entities are increasingly adopting renewable energy sources, such as wind power, fostering demand for gear box and gear motors in the wind turbine sector.
End-use Industries Preferring Modular-based Gear Boxes:
In terms of product type, the market comprises gear boxes and gear motors. Gear boxes, particularly modular-based variants, are preferred by end-use industries for their ability to boost production. The market witnesses a focus on manufacturing sturdy and sophisticated gear boxes, reducing noise, bearing higher load capacities, and offering efficient output to enhance production efficiency.
Planetary Gears and Upto 10,000 Nm Rated Power Segment Dominance:
Among gear types, planetary gears dominate the market due to their compact design, high power density, and efficient coaxial shaft arrangement. Planetary gears' high efficiency of up to 97% contributes to their growth. In terms of rated power, the upto 10,000 Nm segment holds a key share due to extensive applications in robots, factory automation gantry, machinery tools, and welding indexing.
Regional Outlook:
Asia Pacific leads the global gear box and gear motors market, with key manufacturers shifting their manufacturing units to the region. China and Japan are pivotal contributors, driven by growing infrastructure activities. The Middle East & Africa market is expected to grow rapidly, particularly in the UAE, propelled by economic growth and continuous industrialization.
Analysis of Key Players:
The global gear box and gear motors market is characterized by various players investing significantly in research and development, diversification of product portfolios, and mergers & acquisitions. Prominent entities include NER GROUP CO., LIMITED, Rotork, Sumitomo Heavy Industries, Ltd, SEW-Transmission Equipment Co., Ltd, Rossi Group, Bosch Rexroth, FLENDER Group, Lenze, and NORD Drivesystems Pvt. Ltd.
Key Developments:
Key players focus on research & development and portfolio expansion. Notable developments include Flender's acquisition of Moventas for wind turbine gearboxes, Bosch Rexroth's โฌ80 million investment in its Elchingen plant, Rossi's launch of gear motors for the sugar industry, and Lenze's development of a smart servo axis for high scalability.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ | ๐๐ฆ๐ฆ๐๐๐ข๐๐ญ๐ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ - https://www.transparencymarketresearch.com/checkout.php?rep_id=84835<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR
About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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