Gear Motor Market Size Expected to Reach USD 75.9 Billion, at a 12.31% CAGR by Driving Technology, Sales, Revenue and Business Forecast to 2030
Research Reports
Mar 15, 2023
Gear Motor Market Overview
Global Gear Motor Market is likely to attain a CAGR of 12.31% and reach a global market value worth USD 75.9 Billion by 2030.
The market for gear motors is expected to grow steadily in the coming years, driven by the increasing demand for automation and robotics in various industries. The rise in industrialization, coupled with the need for energy-efficient solutions, is also contributing to the growth of the gear motor market.
Various types of gear motors are available in the market, including DC gear motors, AC gear motors, and stepper gear motors, among others. The choice of gear motor depends on the specific application, with factors such as speed, torque, and power consumption playing a key role.
Gear Motor Market Key Players:
- Eaton Corporation PLC
- Siemens AG
- Baldor Electric Company
- Sew-Eurodrive GmbH & Co. Kg
- FLENDER Group
- Watt Drive Antriebstechnik GmbH
- Bauer Gear Motor GmbH
- Sumitomo Heavy Industries Ltd
- Johnson Electric Holdings Limited
- Emerson Electric Co
- Elecon Engineering Company Ltd
- China High-Speed Transmission Equipment Group Co. Ltd
- Brevini Power Transmission S.P.A. among others
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Industry News
The key Gear Motor Market Trends point at a moderate growth in the forecast period. The key players of the Gear Motor Market are Eaton Corporation, PLC, and Siemens AG. The key players are making product upgrades to accommodate the demands of the sustainable energy segment in the future. New acquisitions and deals between the key players pose to support the future growth of the industry. The gear motor industry will grow from the 2022-2030 period.
The gear motor industry also caters to new-age developments like renewable energy. Gear motors integrate into wind power turbines and other renewable energy harnessing equipment. Gear motors help in reducing mechanical energy loss and increase the efficiency of the equipment. The growing modern industrial segment also contributes to the Market Growth. The CAGR for the forecast period was 6 percent. The Gear Motor Market does not show double-digit growth, but it is high enough to drive healthy growth for the next few years.
Gear Motor Market Segmentation:
Gear Motor Type Outlook
- Planetary
- Helical
- Helical-Bevel
- Worm
Gear Motor Product Type Outlook
- Gearbox
- Integrated Gear Motor Unit
Gear Motor Industry Outlook
- F&B
- Material Handling
- Automotive
Gear Motor Regional Outlook
- North America
- Europe
- Asia-Pacific
- Rest of the World
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Gear Motor Regional Overview
The Gear Motor Market Size disperses over different regions of the world. To understand the revenue inflow of the Gear Motor Industry, one needs to understand the regional market Share. The major regional markets of the gear motor are North America, Asia Pacific, and Europe. Additionally, other minor regional markets combine into the Rest of the world. Modernization and an inclination towards a sustainable lifestyle drive the key Gear Motor Market Trends in these regions. For example, the European region will contribute the highest to wind energy generation in the forecast period. Thus, the European region holds the major market Share in the forecast period.
The Report Answers Following Questions:
- What are the key drivers of this market growth?
- What are the emerging trends that could impact the demand for this industry in the future?
- How will market evolve over the next 5-10 years?
- What strategies do you think companies should adopt to meet the demand and capitalize on market growth opportunities?
- What will be the future growth rate of the market?
- What is the current demand for this market?
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