A recent report published by Infinium Global Research on industrial gearbox and gear motors market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial gearbox and gear motors market. The global industrial gearbox and gear motors market is projected to grow at a CAGR of 4.1% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 03/20/2019 -- Industrial Gearbox and Gear Motors Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of industrial gearbox and gear motors market by product type (gear motor, and gearbox), gear type (worm, bevel, helical, planetary), power (7.5 kw to 75 kw, above 75 kw), end user (wind power, metals, mining, automotive, material handling, cement, aggregates, chemicals, construction) market status and outlook of global and major regions, from manufacturers, and end industries.
As this report is expected to help key players among the industrial gearbox and gear motors market it includes the five years Industry analysis and the 6 years annual forecast from 2018 to 2024. Some of the prominent participants in the global industrial gearbox and gear motors market are Siemens AG, Bonfiglioli Riduttori S.p.A, SEW-Eurodrive GmbH & Co. KG, China High Speed Transmission Equipment Group Co. Ltd., Winergy, Bauer Gear Motor GmbH, ABB Ltd., and Eaton Corporation PLC
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Industrial Gearbox and Gear Motors Market: Industry Insights
An industrial gearbox is an enclosed system that transmits mechanical energy to an output device. Gearbox is used to change the speed and torque of vehicle according to the variety of road and load condition. A gearbox changes the engine speed into torque when climbing hills and when the vehicle required. A gear motor is a specific type of electric motor that is designed to produce high torque while maintaining a low horsepower or low speed. Gear motors are primarily used to reduce speed in a series of gears, which in turn creates more torque.
Industrial Gearbox and Gear Motors Market: Drivers and Restraints
The use of automation across all industrial sectors is increasing across the globe. The rate of adoption of automation is particularly high in the manufacturing sector. This becomes a driving factor for the industrial gearbox and gear motors market. Industrial gearboxes are excellent tools that can be used to improve a company's operational output. It is essential to the creation of products. As manufacturing and electronic industry grows, the demand for industrial gearbox and gear motors also increases. Demand from renewable resources like wind and the solar industry is increasing, which drives the market. Some industrial gearboxes are more costly than other drive systems which can hamper the demand for industrial gearbox and gear motors. High maintenance cost is one of the restraint factors of industrial gearbox and gear motors market.
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Industrial Gearbox and Gear Motors Market: Segmentation
By product type, the market is segmented into gear motor and gearbox. On the basis of gear type, the sub-markets include worm, bevel, helical, planetary, and others. These can be broadly classified by looking at the positions of axes such as parallel shafts, intersecting shafts, and non-intersecting shafts. Helical is the most commonly used gear in transmissions. On the basis of power, the sub-markets include up to 7.5 kW, 7.5 kW to 75 kW, and above 75 kW. On the basis of end-user industry, the market is segmented into wind power, metals and mining, food and beverage, automotive, material handling, cement and aggregates, chemicals, construction, power generation, metals & mining, and others.
Industrial Gearbox and Gear Motors Market: Regional Insights
Asia-pacific region is the largest market for industrial gearbox and gear motors. In this region, population and per capita income is growing. Industries such as construction, automotive, wind power, and material handling are developing. This tends to increase the demand for industrial gearbox and gear motors in this region. North America is the second largest market for industrial gearbox and gear motors due to increasing wind power project and rising demand for the automotive industry in this region.
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Industrial Gearbox and Gear Motors Market: Competitive Analysis
The industrial gearbox and gear motors industry are fragmented across the world. Some of the industry participants of the global industrial gearbox and gear motors market are Cyber Power Systems, Emerson Electric Co., Raritan Inc., Eaton Corporation, Leviton Manufacturing Company, Inc., Tripp Lite, Enlogic Systems LLC., Server Technology, Inc., Cisco Systems, Inc., and Schneider Electric among others.