GEARED UP!

The construction equipment industry is expected to make a significant contribution to the global geared motors market share. Equipment Times looks at the market dynamics, current technological trends, changing customer needs, opportunities, way forward, expansion plans in the geared motors market.

The Gear Motor Market size is expected to witness rapid growth due to prominent players’ employment of new and advanced technologies to save revenue.

The Covid-19 pandemic has had a negative influence on almost every industry in the world. As a result of a variety of precautionary lockdowns and other limitations imposed by governments across the globe, severe disruptions have occurred in their respective manufacturing and supply-chain operations.

In addition, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets due to the general economic downturn. Over the projected period, the aforementioned factors are expected to weigh on the worldwide gear motors market’s revenue trajectory. The global gear motor market share is likely to rebound as separate government agencies begin to lift these enforced lockdowns.

Moreover, governments and private entities have been compelled to increase the use of renewable energy sources, such as wind power, with the rising cost of oil and growing environment consciousness among the population. Thus, global demand for gear box and gear motors is expected to rise with the increasing use of wind power, as they are used to accelerate or slow down the rotational speed of the electrical generator for the wind turbine.

Growing Demand From Material Handling Equipment to Augment Market Growth

According to Fortune Business Insights, the vast demand from material handling equipment, food and drinks, wastewater treatment plants, and the automobile industry, among other industries, is fueling the market’s expansion. However, gear motor manufacture is relatively expensive, and it requires frequent monitoring for optimum functioning, which is impeding the gear motor’s expansion.

Key Geared Motors And Drives Market Trend

The emergence of magnetic gearboxes is one of the key geared motors and drives market trends fueling the market growth. A magnetic gear makes use of a permanent magnet to transmit torque from an input shaft to an output shaft without mechanical contact. Magnetic gearboxes are mainly used in high-speed applications and in hostile environments where gearboxes are subject to high shock and vibration. Hence, they are finding increasing applications in wind turbines. Wind turbines with a mechanical gearbox are subject to a varying wind speed that often leads to torque on the gearbox, exceeding design parameters. With a magnetic gear, there is no direct contact between two magnetic gear rotors. Even if the torque exceeds the design limit, there would be no mechanical problem as mechanical parts are absent.

Global market… 

High trust levels and traceability are the major factors responsible for direct geared motor sales. The increasing demand for interconnectedness between consumers and businesses for reliability across the globe is also boosting the direct selling of geared motors. Reduced expenditure and deep market penetration are other factors driving the sale via direct channels. India and China are expected to witness the highest growth in direct sales owing to rapidly growing industrialization.

Amit Deokule, Sr. General Manager, Sales & Marketing, Nord Drivesystem, said, “Infrastructure market will continue to grow in coming years. Expected CAGR is in double digit for growth till year 2030. With India government putting investments in projects, we see a good demand in this sector in coming future. The market witnessed a slowdown in 2020 owing to the COVID-19 pandemic, which resulted in halt in construction projects, suspension of economic activities and lockdown across the country. However, with the gradual recovery of economic activities and relaxation in lockdown measures, the market regained its momentum and is expected to rise during the forecast period.”

R Haridoss, Sr. VP (Business Development), Power Build, said, “Today, OEM want energy efficient, robust and reliable product, additionally need deliveries on time and sometime on very urgent basis because of sudden change in demand by their users. We have seen many clients who are looking for a partner having their own indigenous facility to cater them and also capable to do customization to match their requirements. We have seen in many disruption in the supply chain during last couple of year due to covid, Russia-Ukraine conflict and many other global factors. We PBL are proud to say that we have our own manufacturing facility all critical components of gear box/geared motor are manufactured in-house. We do have 5 Swift Centers for Quick Assembly and deliver to customers for their needs.”

Pranav Dave, Head, National Sales, Rossi Gearmotors (India), said, “Trend is towards more automation in power transmission. It will need frequency drive with gearmotor. Also energy efficiency is the talk of the day. Use of IE3 motors is not far away and all the manufacturers are gearing up for this change. Rossi have introduced decentralize frequency drive unit for motor. It is addition to our already elaborate product portfolio and a step towards becoming complete system solution provider. On motor front, Rossi is already having motors upto IE4 and we are gearing up for IE5 motors to meet the market demand.”

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