Global Gear Motor Market Report and Forecast 2024-2032

Global Gear Motor Market Outlook

The global gear motor market stood at a value of around USD 27.89 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5% to reach about USD 43.27 billion by 2032.

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Increasing Application of Helical-Bevel Gear for Various Industrial Applications is Driving the Market for Gear Motor

Helical-bevel gears facilitate smooth gear operations while reducing the noise. The high-load capacity and high output of strength exhibited by helical gear makes it applicable in various industrial applications in port and power industry, steel and rolling mill, elevators, and cutter and oil industry, among others. Over the forecast period, the increasing application of helical-bevel gears in automotive transmission of highs-speed cars, owing to less friction and wear of these gears, is likely to accelerate the demand for the product. Furthermore, the product is anticipated to witness an increased demand from heavy industrial settings such as the construction of plastics, cement, and rubber, etc.

North America Accounts for a Significant Share in the Market for Gear Motor

The market in the region is being driven by the large-scale industrialisation and construction activities going across the emerging economies such as India and China. The flourishing food and beverage and automotive industries in the region owing to the high population base and steady economic growth are furthering the demand for gear motors. Moreover, the thriving metal and mining industry in China, owing to the rising production of aluminium, steel, and zinc, is likely to generate a high demand for gear motors with decent rate of power. Furthermore, the strong foothold of major manufacturers of gearboxes and motors in the region is likely to augment the supply chain of the product.

Market Segmentation

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Gear motor is defined as an electric motor combining a gearbox. Gear motor either use AC or DC current and are generally used in applications requiring high output torque and lower speed of rotation of output shaft. These include everyday electronic operations such as conveyor systems, lifts, and automotive wipers, among others.

Based on product type, the market can be segmented into:

• Gearbox
• Gear Motor

By gear type, the market has been divided into:

• Helical-Bevel
• Worm
• Helical
• Planetary
• Others

On the basis of rated power, the market has been segmented into:

• Up to 7.5 kW
• 7.5 kW to 75 kW
• Above 75 kW

The market can be bifurcated based on torque into:

• Up to 10,000 Nm
• Above 10,000 Nm

The significant end uses of the product include:

• Metals and Mining
• Material Handling
• Wind Power
• Food and Beverage
• Cement and Aggregates
• Automotive
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Demand for Gear Motor in the Food and Beverage Sector to Boost the Growth of the Gear Motor Industry

The increasing demand for gear motors to power machinery in the food and beverage industry is driving the market growth. The soaring demand for packaged food and beverage products is propelling the demand for gear motors to improve the efficiency of food processing and operations and to reduce the equipment downtime. In addition to this, gear motors can survive long hours of operation in the food processing industry, which is another key driving factor. Moreover, the stringent government regulations aimed towards improving the sanitation and hygiene conditions in the food industry are likely to generate demand for AC gear motors in the forecast period. Meanwhile, gear motors are essential in the automotive industry as these are used to drive lifts and conveyers and enhance the smoothness of automotive machinery. In this regard, the increasing demand for passenger and commercial vehicles is anticipated to bolster the gear motor sector. Furthermore, the increasing application of helical-bevel gearbox in the cement industry to perform various functions such as engine augmentation, speed control, and enhancement of operational capabilities, is likely to provide impetus to the market in the forecast period.

Key Players in the Global Gear Motor Market

The report gives a detailed analysis of the following key players in the global gear motor market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Siemens AG
• Eaton Corporation plc
• Emerson Electric Co.
• Johnson Electric Holdings Limited
• Bosch Rexroth AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report