Industrial Gearbox and Gear Motors Market is set to expand at a CAGR of 4.3% during forecast period between 2018 to 2026.
Albany, NY -- (SBWIRE) -- 04/17/2019 -- Industrial gearboxes are the type of rotating machines that use gear and gear trains to transmit speed and torque in order to move the other devices. They work in tandem and provide a mechanical advantage that offers excellent power transmission. With the multiple gear ratios, it is possible to switch between different speed and torque as per the requirement, and this can be done manually or automatically. A gearbox is preferably used to increase speed and decrease torque. An industrial gear motor is an element that integrates a gear reducer. Gear motors can deliver high torque at low power and low speed. This is because of the gearhead function, which acts as a torque multiplier and allows small motors to generate higher torque. Most industrial gear motors use AC motors.
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Industrial gearboxes and gear motors are an integral part of various end-use industries. Following the rising demand in the Asia Pacific region, manufacturers are shifting their base to this region which is one of the main reasons for the growth of the industrial gearbox and gear motors market in the Asia Pacific region. The market in Asia Pacific is expected to expand at a CAGR of 4.9% over the forecast period.
Investment in discrete manufacturing sectors such as packaging, plastics, automotive, and unit material handling are expected to create sales opportunities for industrial gearboxes and gear motors. The manufacturing of mass-produced automobiles typically relies on conveyors and equipment to bring the parts and assemblies to a location where robots or workers are tasked with a specific function in the elaborate process of assembling a car or truck. These electric motors are often connected directly to gearboxes as gear motors and are used for driving conveyors, lifts, robot arms, etc. The end-markets and applications for industrial gearbox and gear motors are diverse.
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The global market is heavily reliant on the material handling, wind power, automotive, and construction industry. The future prospect of this industry is strongly correlated to economic activity, especially in core sectors like power, infrastructure, mining, oil and so on. The growing demand for power is expected to pave the way for newer power projects and hence increase the usage of geared components. Material handling industry had the highest market share in 2016 and is expected to expand at a CAGR of 4.5% over the forecast period.
Industrial gearboxes and gear motors come in a variety of sizes to ensure perfect duration and smooth running in all types of applications. The simplicity of the design has allowed the widespread acceptance of industrial gearboxes and gear motors. Modular and compact design and flexibility in usage boosts the cost effectiveness of industrial gearbox and gear motors.