This market research report includes a detailed segmentation of the global geared motors and drives market by product (geared motors and geared drives) and by end-users (material handling, food and beverages industry, wind power industry, chemicals, oil, and gas industry, and paper and pulp industry). It outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are ABB, Bonfiglioli, Emerson Electric, Regal Beloit, and Siemens.
Technavio’s market research analysts estimate the global geared motors and drives market to grow at a CAGR of almost 5% between 2016 and 2020. The increase in the widespread use of geared motors and drives in the food and beverage, oil and gas, paper and pulp, wind power, and textile industries is expected to fuel the growth of the market during the forecast period. Currently, EMEA dominates the global geared motors and drives market with a market value of almost $6 billion. The increase in investments and the growth of automotive and wind power industries are some of the factors that are expected to fuel the growth of the market in this region.
The new market research report from Technavio presents a breakdown and analysis of the global geared motors and drives segment by end-user.
“The increase in the demand for high-quality food products has triggered the adoption of advanced technologies in the food processing industry. Hence, vendors are aiming at offering geared motors and drives designed for deep freeze food processing machines and lines that are faster, sophisticated, and require almost no human supervision. Features such as unequalled flexibility to fulfil specific requirements, and reduced heat dissipation in low-temperature environments are expected to boost the sale of geared motors and drives market across the globe,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
At present, the material handling industry dominates the global geared motors and drivers market, accounting for almost 29% of the overall market share. The incorporation of geared motors and drives in material handling devices enables protection, storage, and control of materials through the entire process of manufacturing, warehousing, distribution, consumption, and disposal. The increase in production volumes is expected to trigger the need for advanced equipment to facilitate efficient production and distribution, thereby fueling the growth of the market over the next four years.
The key vendors in the global geared motors and drives market are ABB, Bonfiglioli, Emerson Electric, Regal Beloit, and Siemens. The market has the presence of well-diversified international, regional, and local vendors. The need to innovate geared motors and drives have prompted vendors to invest in new plants and production facilities to compete in the market. Large vendors are expanding into the market by M&A to increase their market share and minimize the competition in the global market. Key vendors are increasing their footprint, and local vendors are finding it difficult to compete with them in terms of quality, features, and capability of industrial geared motors and drives.
A more detailed analysis is available on the Technavio report, Global Geared Motors and Drives Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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