Global Gear Motor Market Size, Share, and COVID-19 Impact Analysis, By Type (Helical Gear, Planetary Gear, Helical-Bevel Gear, Worm Gear, and Others), By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW, and Above 75 kW), By Torque (up to 10,000 Nm and Above 10,000 Nm), By End Use (Industrial Machinery, Automotive, Aerospace & Defense, Consumer Electronics, Agriculture, Energy & Power, Marine, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033
Industry: Semiconductors & ElectronicsGlobal Gear Motor Market Insights Forecasts to 2033
- The Global Gear Motor Market Size was estimated at USD 24.78 Billion in 2023
- The Market Size is Expected to Grow at a CAGR of around 7.79% from 2023 to 2033
- The Worldwide Gear Motor Market Size is Expected to Reach USD 52.46 Billion by 2033
- North America is expected to grow the fastest during the forecast period.
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The Global Gear Motor market size was worth around USD 24.78 Billion in 2023 and is predicted to grow to around USD 52.46 Billion by 2033 with a compound annual growth rate (CAGR) of approximately 7.79% between 2023 and 2033. The growing trend of industrial automation primarily influences the market.
Market Overview
The global gear motor market is the industry engaged in producing and distributing gear motors, which are electric motors that are mounted with gearboxes to decrease speed and boost torque. These motors can be applied in most applications like industrial automation, robots, automobiles, and household appliances. Gear motors are engineered to provide optimized performance with low energy loss, in keeping with the overall industry trend towards more cost-effective and sustainable solutions. Additionally, technological innovation is key to the invention and adoption of gear motors. The integration of the Internet of Things (IoT) and smart technologies into gear motors is revolutionizing their performance. Moreover, modern gear motors are now more commonly being fitted with sensors and connectivity options that allow real-time monitoring and data capture. These intelligent features offer useful information on performance parameters like temperature, vibration, and load.
Report Coverage
This research report categorizes the global gear motor market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global gear motor market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global gear motor market.
Global Gear Motor Market Report Coverage
Report Coverage | Details |
---|---|
Base Year: | 2023 |
Market Size in 2023: | USD 24.78 billion |
Forecast Period: | 2023-2033 |
Forecast Period CAGR 2023-2033 : | 7.79% |
2033 Value Projection: | USD 52.46 billion |
Historical Data for: | 2019-2022 |
No. of Pages: | 210 |
Tables, Charts & Figures: | 115 |
Segments covered: | By Type, By Rated Power and COVID-19 Impact Analysis |
Companies covered:: | Siemens, Eaton, SEW-EURODRIVE, Johnson Electric Holdings Limited, WEG Gear Systems GmbH, Bauer Gear Motor, Emerson Electric Co., Sumito Drive Technologies, ABB, Regal Rexnord, and Other key Players |
Pitfalls & Challenges: | COVID-19 Empact, Challenges, Future, Growth, & Analysis |
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Driving Factors
The demand for geared motors is spurred by the fast-paced development of modernization in industrial facilities and growing energy use in developing nations. For automation in plants, these motors are typically installed in conveyor belts, overhead cranes, and bucket elevators. Geared motors are employed in industry during the manufacturing process. They are applied in rolling, processing, and refining raw materials in many different applications. These are band saws, power rollers, press brakes, and pipe benders. These motors are used in elevators, winches, medical tables, jacks, and robots because they enable low-power, low-cost motors to produce robust driving forces at slow speeds.
Restraining Factors
High production and maintenance expenses limit the expansion of the global market. Efficient motor and drive system management can decrease operating expenses, enhance performance, and boost reliability.
Market Segmentation
The global gear motor market share is classified into type, rated power, torque, and end use.
- The helical gear segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period.
Based on type, the global gear motor market is divided into helical gear, planetary gear, helical-bevel gear, worm gear, and others. Among these, the helical gear segment accounted for the largest revenue share in 2023 and is projected to grow at a significant CAGR during the forecast period. The segment growth is driven because helical gear motors are also characterized by high efficiency in operation and smoothness. The helical gears possess teeth cut at an angle, enabling progressive engagement and continuous meshing.
- The up to 7.5 kW segment accounted for the leading revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period.
Based on rated power, the global gear motor market is divided into up to 7.5 kW, 7.5 kW to 75 kW, and above 75 kW. Among these, the up to 7.5 kW segment accounted for the leading revenue share in 2023 and is anticipated to grow at a substantial CAGR during the forecast period. The segment growth is driven because 7.5 kW power-rated gear motors are appropriate for many applications in most industries. These applications range from manufacturing machinery, material handling systems, and HVAC systems to small and medium-sized industrial equipment.
- The up to 1,000 Nm segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on torque, the global gear motor market is divided into up to 10,000 Nm and above 10,000 Nm. Among these, the up to 1,000 Nm segment accounted for the largest market share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth in segment can be attributed to the standardization and accessibility of gear motors up to 1,000 Nm make them more convenient to integrate and install. Compatibility with a variety of equipment and systems makes installation and maintenance easier.
- The industrial machinery segment accounted for the highest share in 2023 and is anticipated to grow at significant CAGR during the forecast period.
Based on end use, the global gear motor market is divided into industrial machinery, automotive, aerospace & defense, consumer electronics, agriculture, energy & power, marine, and others. Among these, the industrial machinery segment accounted for the highest share in 2023 and is anticipated to grow at significant CAGR during the forecast period. Industrial machinery consists of an expansive range of equipment and processes, ranging from pumps and conveyors to crushers and mixers. Gear motors are a part of these systems, necessary for transmitting the power and torque to execute a multitude of mechanical actions.
Regional Segment Analysis of the Global Gear Motor Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia Pacific is anticipated to hold the largest share of the global gear motor market over the predicted timeframe.
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Asia Pacific is anticipated to hold the largest share of the global gear motor market over the predicted timeframe. The growth in the region is due to the increasing automation and cutting-edge technology trends in the region. Industrial houses are gradually implementing automated systems and modern equipment to ensure greater productivity and efficiency. Gear motors are an essential part of these automated systems, creating greater demand and income in the region.
North America is expected to grow at the fastest CAGR in the global gear motor market during the forecast period. Regional growth is due to increased demand from the power generation industry and manufacturing sectors like chemical and mining. Moreover, the U.S. is the market leader in North America as it has an established manufacturing industry compared to Canada. Also, it is among the market leaders in the material handling sector.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global gear motor market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Siemens
- Eaton
- SEW-EURODRIVE
- Johnson Electric Holdings Limited
- WEG Gear Systems GmbH
- Bauer Gear Motor
- Emerson Electric Co.
- Sumito Drive Technologies
- ABB
- Regal Rexnord
- Others
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In March 2024, Nissei Corporation announced the launch of their new high stiffness reducers, ideal for robots and factory automation equipment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global gear motor market based on the below-mentioned segments:
Global Gear Motor Market, By Type
- Helical Gear
- Planetary Gear
- Helical-Bevel Gear
- Worm Gear
- Others
Global Gear Motor Market, By Rated Power
- Up to 7.5 kW
- 7.5 kW to 75 kW
- Above 75 kW
Global Gear Motor Market, By Torque
- up to 10,000 Nm
- Above 10,000 Nm
Global Gear Motor Market, By End Use
- Industrial Machinery
- Automotive
- Aerospace & Defense
- Consumer Electronics
- Agriculture
- Energy & Power
- Marine
- Others
Global Gear Motor Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Frequently Asked Questions (FAQ)
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1. How big is the gear motor market?The global gear motor market size is expected to grow from USD 24.78 billion in 2023 to USD 52.46 billion by 2033.
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2. What is the gear motor market growth rate?The gear motor market is expected to grow at a compound annual growth rate of 7.79%.
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3. Who are the key players in the gear motor market?Key players are Siemens, Eaton, SEW-EURODRIVE, Johnson Electric Holdings Limited, WEG Gear Systems GmbH, Bauer Gear Motor, Emerson Electric Co., Sumito Drive Technologies, ABB, Regal Rexnord, and Others.
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