Industrial Gear Motors and Drives Market Valuation and Analysis During Forecast Period 2022

Industrial gear motors & drives market include power transmission components that are primarily used to reduce cost and complexity in designing machines, tools, and appliances that need high torque at low shaft speed. The market is expected to witness high growth owing to the rising demand of machined products in the mechanical industry. Mechanical industry is projected to grow more than a quarter over the forecasted period mainly due to the increasing demand in industries such as automobile, aerospace, petroleum and food & beverage. The automobile and aerospace industries are forecasted to grow more than 15% CAGR and 11% CAGR respectively, majorly due to the growing consumer demand, economic development, and standard of living. Similarly other industries are expected to report high growth owing to the competition, awareness, and new product development.

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Growing demand of high quality finished product, increasing dependence on automation, growing consumer expectations, and continuous innovation & development are the key drivers that are projected to propel the market growth over the next seven year. These driving factors support the market in reducing cost, time, & other resources, hence in achieving high operational efficiency, MTBF (mean time before failure), and quality. The key restraints that are expected to slightly decrease the market growth are government regulations, stringent emission norms, high competition, low profit margins, and changing consumer behavior

The market is segmented by type into Standard geared products and Precision geared products. Standard geared motors are compliant to IEC/EN standards. These motors majorly come in the power range of 200kW, with a gear unit torques of up to 35,000 Nm. The prime strengths that boost its demand in the market are high rated gear unit torques, high gear unit ratio, quiet geared motors, and high degree of flexibility.

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