India Worm Gear Reducers Market- Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028, Segmented By Type (Orthogonal, Parallel-shaft, Coaxial), By End Use Sector (Machine Tools, Construction Machinery, Ships), By Power Rating (<1 kW, 1-3kW, 3-5.5kW, 5.5-7.5kW, 7.5kW-11kW, >11kW), By Region, Competition

The India Worm Gear Reducers Market is expected to increase during the forecast period owing to the increasing demand for escalators and elevators, rising mining and the automotive industry. Furthermore, the rising number of investments aimed at furthering various sectors, such as wind power and other sources of renewable power generation are likely to positively affect the growth within the India Worm Gear Reducers during the forecast period. The market growth might be restricted due to the disadvantages such as lubrication leakage, overheating, high friction, and axial stresses.

Worm gear reducers is a right-angle speed reducer which consists of a worm pinion input and output worm gear. This type of gear box is generally used to control motor speed and produces a low-speed output with higher torque. Worm gear reducers offers several advantages over other types including lower costs and high shock-loading tolerances.

Increasing demand for escalators and elevators

India is the second-largest market in the world for elevators and escalators as a result of significant reasons such as growing urbanization, the growth of the real estate sector, and the construction of multi-story residential and commercial buildings throughout the country. India also has over 100 tier-2 cities and these cities are growing owing to government support for infrastructural initiatives such as smart cities. These cities are developing advanced infrastructures such as apartment buildings, hospitals, office buildings, malls, and many more. For the ease of the customers and to provide a more eminent foundation, these new infrastructures do need intelligent and effective elevators.

Moreover, owing to the fact that worm gear reducers are often used in the construction of lifts and elevators because of their ability to control load speed and avoid free-fall and when the conveyor system is not utilized, worm gear-based systems will simply lock up rather than move in the other direction due to the fact that they only rotate in a single direction. Therefore, with the rise in demand for elevators and escalators across the nation, the demand for worm gear reducers also increases gradually.

Growing Automotive Industry

The development of the market has been influenced favourably by the automobile sector in India and the country's economic situation. The automotive industry has expanded significantly over the past few years as a result of several key factors, including rising income levels, rising vehicle penetration, expanding R&D hubs, and government programs such as the Youngest Nation and Atmanirbhar Bharat Abhiyaan, which have increased consumer demand for privately owned cars and thus fuelled the market's expansion. Worm gear reducer sales are also predicted to rise consistently during the forecast period as a result of its widespread use in applications that lower speed and regulate vehicle torque.

Increasing Mining Industry

Owing to increasing infrastructural development and automotive production, India's mining industry is one of the nation's key industries. The sectors' expansion is also aided by the cement and power industries. Given the industry's strong growth prospects for both residential and commercial construction, which also drives the market's expansion, demand for iron and steel is expected to remain high. Furthermore, when mounted and oiled correctly, worm gear reducers are known to operate silently and smoothly. Owing to these characteristics, typical worm gear reducers are employed in mining equipment. As a result, worm gear reducer demand is increasing consistently along with the mining industry.

Market Segments

Worm Gear Reducers Market is segmented on the basis of type, by end use sector, by power rating, and by region. Based on type, the market is segmented into orthogonal, parallel-shaft, and coaxial. Based on end use sector, the market is segmented into machine tools, construction machinery, ships. Based on power rating, the market is segmented into <1 kW, 1-3kW, 3-5.5kW, 5.5-7.5kW, 7.5kW-11kW, >11kW.

Market Players

Major players in the India Worm Gear Reducers Market include