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The industrial gear motors and drives market share is expected to increase by USD 4.76 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.33%.
This industrial gear motors and drives market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers industrial gear motors and drives market segmentation by end-user (material handling, food and beverages, wind power, chemicals and oil and gas, and others), type (standard geared products and precision geared products), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The industrial gear motors and drives market report also offers information on several market vendors, including ABB Ltd., Allied Motion Technologies Inc., Altra Industrial Motion Corp., Beacon Gear Transmissions Pvt. Ltd., Bonfiglioli Riduttori Spa, Buhler Motor GmbH, Demag Cranes and Components GmbH, Eaton Corp. Plc, Elecon Engineering Co. Ltd., ElectroCraft Inc., Johnson Electric Holdings Ltd., Mitsubishi Electric Corp., NER GROUP Co. Ltd., Nidec Corp., Nord Gear Ltd., Regal Rexnord Corp., SDT Drive Technology, SEW-EURODRIVE GmbH and Co KG, Siemens AG, and Sumitomo Heavy Industries Ltd. among others.
Download Report Sample to Unlock the Industrial Gear Motors and Drives Market Size for the Forecast Period and Other Important Statistics
The growing demand for energy-efficient industrial gear motors and drives is notably driving the industrial gear motors and drives market growth, although factors such as emerging variable speed drives (VSDs) may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial gear motors and drives industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Industrial Gear Motors and Drives Market Driver
Key Industrial Gear Motors and Drives Market Trend
Key Industrial Gear Motors and Drives Market Challenge
This industrial gear motors and drives market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global industrial gear motors and drives market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the industrial gear motors and drives market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the industrial gear motors and drives market encompasses successful business strategies deployed by the key vendors. The industrial gear motors and drives market is fragmented and the vendors are deploying growth strategies such as spending more on R&D activities to bring innovative solutions for industrial applications to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The industrial gear motors and drives market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the industrial gear motors and drives market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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43% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for industrial gear motors and drives in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising demand for infrastructure development from the industrial and construction sectors will facilitate the industrial gear motors and drives the market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 adversely impacted the sales of major manufacturing industries in APAC. A decline in demand for final products from consumers, supplier bankruptcy, a slowdown in R&D processes, and the development of new products negatively impacted various industries such as chemicals and oil and gas. However, the resumption of manufacturing activities after the lifting of nationwide lockdowns in major countries in APAC such as India, China, Japan, and South Korea in Q4 2020 increased the sales of industrial gear motors and drives from January 2021, and the growth of the market in focus is expected to continue during the forecast period.
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Industrial gear motors drives market share growth in the material handling segment will be significant during the forecast period. The need to achieve economies of scale and improve operational efficiency has resulted in consolidation in the industry, which has increased power requirement, machine size, and material handling capacity in various industries such as metal and mining. Efforts made by the Government of China aimed at stimulating the infrastructure industry will increase the demand for gear motors and drives in the material handling industry.
This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial gear motors and drives market size and actionable market insights on the post-COVID-19 impact on each segment.
Industrial Gear Motors and Drives Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.33% |
Market growth 2022-2026 |
$ 4.76 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.85 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, China, Japan, India, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ABB Ltd., Allied Motion Technologies Inc., Altra Industrial Motion Corp., Beacon Gear Transmissions Pvt. Ltd., Bonfiglioli Riduttori Spa, Buhler Motor GmbH, Demag Cranes and Components GmbH, Eaton Corp. Plc, Elecon Engineering Co. Ltd., ElectroCraft Inc., Johnson Electric Holdings Ltd., Mitsubishi Electric Corp., NER GROUP Co. Ltd., Nidec Corp., Nord Gear Ltd., Regal Rexnord Corp., SDT Drive Technology, SEW-EURODRIVE GmbH and Co KG, Siemens AG, and Sumitomo Heavy Industries Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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