Gear Motor Market Size - By Type (Helical Gear, Planetary Gear, Beval Gear, Worm Gear, Spur Gear, Electric Gear, Others), By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW, Above 75kW), By Phase (Single, Double, Three), Regional Outlook & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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Gear Motor Market Size - By Type (Helical Gear, Planetary Gear, Beval Gear, Worm Gear, Spur Gear, Electric Gear, Others), By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW, Above 75kW), By Phase (Single, Double, Three), Regional Outlook & Forecast, 2024 – 2032

Gear Motor Market Size

Gear Motor Market was valued at USD 5.96 billion in 2023 and is expected to register about 4.8% CAGR from 2024 to 2032. As governments and private entities expand their renewable energy capacities through wind farms and other projects, there is a proportional increase in the demand for reliable and efficient gear motors. Moreover, this investment not only drives technological advancements in gear motor design but also stimulates industrial activities reliant on stable power infrastructure, further augmenting the need for these versatile mechanical components.

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Consequently, the growth in power generation investment propels the gear motor industry forward, fostering innovation and expanding its applications across diverse sectors of the economy. This surge in investment in power generation, specifically from renewable sources, heavily leverages wind power. Gear motors are used in wind turbines as special motors that drive blade pitch, gape, and rotor speed in such a way to maximize energy capture efficiency.
 

Gear Motor Market Report Attributes
Report Attribute Details
Base Year 2023
Gear Motor Market Size in 2023 USD 5.96 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 4.8%
2032 Value Projection USD 8.99 Billion
Historical Data for 2021 - 2023
No. of Pages 370
Tables, Charts & Figures 247
Segments covered Type, Rated Power, Phase, Torque, End-user, Distribution Channel, and region
Growth Drivers
  • Rising investment in power generation
  • Increase in number of manufacturing facilities globally
Pitfalls & Challenges
  • High Installation and maintenance cost

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The biggest obstacle to the gear motor market growing is how much it costs to run and keep them up because they often break down. To build a gear motor, you need gears, a shaft, a motor, wiring, and other parts all put together. Also, the prices of the parts needed for the motors change a lot, making the whole thing more expensive to put together than other options like direct motors. Making industrial motors is a long process that involves grinding, heat treatment, and other steps. As a result, the high costs of making and running gear motors are holding back the global market from growing. If you manage your motor and operating system well, you can save money on running costs, make the motor run better, and make it more reliable.

Gear Motor Market Trends

Growing adoption of IoT across industries has driven transformational growth in the gear motor industry since it changes operational dynamics. IoT-enabled gear motors now allow for real-time monitoring and control, thereby increasing their efficiency and reducing downtime through insights from predictive maintenance. This technological integration enables remote management and diagnostics, thereby streamlining operations across distributed assets and increasing flexibility in industrial processes.

The IoT also assists with seamless integration into smart manufacturing frameworks, helping to support agile and responsive production environments. With industries tapping into the power of the IoT in order to improve productivity and sustainability, there is an accelerated demand for sophisticated gearing motors, as these play a critical role in enabling smarter, more efficient industrial operations.

Gear Motor Market Analysis

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In 2023, the bevel gear motor market soared to over $1.41 billion, and it's predicted to boom even more, reaching $2.22 billion by 2032. This impressive growth is driven by the fact that bevel gear motors are rockstars in the gear motor world. They're not just your average gear motors. They're special because they can handle power transmission between shafts that aren't parallel, even at different angles. This makes them perfect for tight spaces where other gear motors would struggle. And get thisthey deliver precise torque transmission and run smoothly, making them a dream for applications where accuracy and reliability are crucial. Plus, bevel gear motors are compact, so they can fit into tight machinery layouts without taking up too much room. And they're built tough, able to withstand heavy loads and harsh conditions. This means less downtime and lower maintenance costs for you.

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Based on rated power, the 7.5 kW to 75kW segment dominated about 50.04% market share in 2023 and is projected to reach a valuation of USD 4.77 billion by 2032. The 7.5 kW to 75 kW segment is expected to have a significant share and is growing significantly. 7.5 kW to 75 kW consumes little energy and provides excellent performance and increases overall productivity. It is used in marine, processing, manufacturing, assembly etc.

Based on End-user, the material handling segment accounted for over 22.61% share of the gear motor market in 2023 and is set to reach a valuation of USD 2.03 billion by 2032. The material handling industry depends heavily on the integration of gear motors. These motors are further valued because they manage to effectively convey high torques—the force necessary to run conveyor, lift, crane, and automated system movements that handle extensive, large masses of materials both dependably and accurately. Their robust construct features little or less downtime and low maintenance costs under difficult operating atmospheres.

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 North America is leading the market share of gear motor due to increased demand in the power generation sector and process industries such as chemical and mining. Additionally, the United States is the dominant country in the North American market as it has a well-established manufacturing sector compared to Canada. In addition, it is also one of the dominant players in the material handling industry.

Country level Analysis

North America In terms of country, the US is dominating the North America Gear motor market with revenue of around USD 1.19 billion in the year 2023 and expected to reach around USD 1.91 billion by 2032. The U.S. has an industrialized base with a robust manufacturing sector, extensive use of gear motors in industries related to automobiles, food and beverage, aerospace, and industrial machinery. Subsystems of advanced manufacturing and technology expertise support broad-based applications of gear motors.

China is the powerhouse of the gear motor industry in the Asia Pacific region, dominating the market with a whopping 33.49% share. Thanks to its robust manufacturing ecosystem, China has become a go-to destination for gear motor production. Here's whyEconomy of scaleChina's massive manufacturing capacity allows producers to enjoy cost savings. Low production expenses China's competitive labor market keeps production expenses in check. Industrial infrastructure China boasts a well-established infrastructure that supports various industries, including gear motor production. Chinese gear motor manufacturers leverage these advantages to supply globally and within the Asia Pacific region. Their competitive pricing, efficient supply chains, and well-established business connections help them secure a significant portion of the market worldwide.

European countries are eager to use gear motors, and Germany is leading the way. Their growth rate is an impressive 5.3%, which translates to a quarter of the market share. What makes Germany stand out? Their companies are like pioneers in the gear motor world, constantly coming up with new ideas. They spend a lot of money on research and development to make their motors more efficient, long-lasting, and compatible with fancy technologies like IoT. This allows them to predict maintenance needs and keep things running smoothly. Germany's got a lot going on in its industries—cars, machines, and manufacturing, plus renewable energy—and gear motors are essential for all of them. They're used in robots, conveyor belts, and factory equipment, so the demand is always high.

Gear Motor Market Share

Meet the giants shaping the gear motor marketBONFIGLIOLI S.P.A., Emerson, Seimen, Altra Industrial Motion, and Sumitomo Heavy Industries. Together, they call the shots in this industry, controlling a hefty 20-25% of the market pie. These companies have built their empires on expertise, global reach, and a diverse range of gear motors. They're the go-to guys for industries like cars, factories, and even rockets! Why? Because they're always pushing the boundaries of innovation, creating cutting-edge gear motors for every kind of need. Whether you need helical, bevel, or planetary motors, they've got you covered. But that's not all. They're also known for their customer-first attitude and their massive distribution network. This means you can expect top-quality gear motors that deliver the goods, backed by a team of experts ready to help you every step of the way.

Gear Motor Market Companies

 Major key players operating in the gear motor industry include

  • INEED ELECTRONICS (HONGKONG) LIMITED
  • SEW-EURODRIVE
  • Jiangsu Guomao Reducer Co. Ltd. (China)
  • Nidec Corporation (Japan)
  • Bauer Gear GmBH (Germany)
  • Bonfiglioli S.P.A. (Italy)
  • Power Build Private Limited (India)
  • Regal Rexnord (U.S.)
  • Shanthi Gears Limited (India)
  • Nabtesco
  • SEW Eurodrive (Germany)
  • Emerson Electric (U.S.)
  • Sumitomo Heavy Industries (Japan)
  • Portescap
  • HarmonicDrive
  • FLENDER
  • Siemens

Gear Motor Industry News

  • In December 2023, In December 2023, Mill Gears Pvt. Ltd.—a Gujarat-based leading Industrial Innovation company—introduced one of the largest gearbox designs in the world, especially for the sugar mill industry. This new revolutionary product is eyed to create a significant leap in the industrial engineering segment and set a new benchmark of efficiency and performance.
  • In March 2022, Watt Drive delivered 21 WG20 series geared motors and W22Xde (IIC T4 Gb) series WEG flameproof motors for Lenzing Filtration. These hazardous area drive solutions, designed to help Lenzing Filtration deliver OptiFil-250-0720 and OptiFil-350-1080 backflush filters of China to produce polymer MDI, are used by some major Chinese chemical companies located worldwide. A Lenzing Filtration sales partner took care of the on-site installation.
  • In October 2021, Regal Rexnord continued to transform through the merger with the process & motion control business segment of Rexnord. This strengthened the portfolio of the Company and powerfully positioned the Company in the industrial power trains. This merger changed its name to Regal Rexnord Corporation immediately after closing the merger, and the revenue grew to USD4B.

This gear motor market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and volume (Million units) from 2021 to 2032, for the following segments

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Market, By Type

 

  • Helical Gear
  • Planetary Gear
  • Beval Gear
  • Worm Gear
  • Spur gear
  • Electric gear
  • Others (PMDC, compact)

Market, By Rated Power

  • Upto 7.5 kW
  • 7.5 kW to 75 kW
  • Above 75kW

Market, By Phase

  • Single
  • Double
  • Three

Market, By Torque

  • Up to 10000 Nm
  • Above 10000 Nm

Market, By End-User

  • Material handling
  • Construction
  • Power generation
  • Mining
  • Food & beverage
  • Manufacturing industry
  • Packaging and labeling
  • Other (wind power, automotive, marine)

Market, By Distribution Channel

  • Direct sales
  • Indirect sales

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

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