The off-the-shelf helical gearbox and drives is the largest product segment, accounting for around 25% share of the global off-the-shelf gearbox and drives market, says Technavio.
Technavio’s automation portfolio has announced its latest market research report on off-the-shelf gearbox and drives for the forecast period, 2016-2020. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the global off-the-shelf gearbox and drives market during the forecast period. Some of the top vendors listed in this industry analysis include Bonfiglioli, Renold, Sumitomo Drive Technologies, David Brown Engineering, and Timken.
Among various geographies, APAC will be the fastest-growing region in the global market, contributing revenues of around $3 billion by 2020. This growth is attributed to a rise in number of greenfield projects and the shift from legacy systems and machinery to modern technology and equipment.
“The wide availability of alternate gearbox technology is gaining huge popularity in this market. Magnetic principles and components find extensive application in electric motors and non-contact drive couplings. R&D in the industrial applications of magnets may substitute mechanical gears in power transmission systems with magnets in the coming years. Such advancements make industry observers predict that magnet-based power transmission components may become the norm in the future,” says Sharan Raj, a lead analyst at Technavio for research on automation.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rise in investments in oil and gas pipeline projects
Despite the increasing preference for green and renewable energy, fossil fuels continue to rule the energy market. The recent fall of crude oil and natural gas prices is driving oil and gas companies to cut costs and adopt more efficient exploration and transportation processes. Pipelines are believed to be the safest and most active way of transporting crude and natural gas over long distances, and have prompted several oil and gas companies to invest in active pipeline networks. The choice of pipeline compressors and pumps is influenced by efficiency, cost, operating environment, and reliability. In regions like North America and Europe, pipeline conditions are relatively non-harsh as temperatures are not extreme, making pipeline stations easily accessible for supervision and repair. However, in APAC, the Middle East, and Artic regions, the extreme temperature and humidity adversely affects equipment, particularly electric drives. In this situation, off-the-shelf mechanical gearboxes and drives are the ideal solution and are preferred over electric drives. Technavio observesthat there is an increase in pipeline investment worldwide, particularly in APAC and the Middle East, which will fuel growth to the off-the-shelf gearbox and drives market over the next four years.
Increased use of industrial robots
The major end-users of industrial robots include automobile, pharmaceutical, and food and beverage industries. A robot consists of multiple links and joints controlled by drive systems like pneumatic, electric, and hydraulic to perform several slow, precise, and repetitive motions. However, a mechanical transmission system is a prerequisite component of robots, which guarantees appropriate speed and torque that cannot be supplied by an actuator alone. The most regularly used mechanical systems are off-the-shelf gearbox and drives. Power and rotational motion are transferred via intersecting or parallel shafts using gears. The types of gears in these gearboxes and drives are spur, bevel, helical, worm, planetary, cycloidal, and harmonic.
EU initiative promoting industrial and engineering innovation
To promote industrial development of both small and large-scale industries, the EU has funded to European Funds for strategic investments, European Structural and Investments Funds, and the European research-funding program Horizon 2020. As per Horizon 2020 initiatives, governments of various European countries will help small and medium businesses integrate devices and robust industrial machinery, including industrial gearboxes and drives in their factory floors to improve production and create job prospects. This step will increase employment opportunities, as companies will be able to reach out to the markets that are considered expensive and inaccessible due to prohibitive labor costs. The initiative also encourages the development of industrial robots and its components such as cycloidal gearboxes and drives in Europe.
Some of the other prominent vendors identified in this report are ABB, AOKMAN, Befared, Emerson Electric, GearTec, Hansen, IGWA, Involute, Kumera, Rexnord, Rossi, SEW-EURODRIVE, Siemens, STOBER, TECO-Westinghouse Motor Company, Turner Uni-Drive, Watt Drive-WEG, and Wikov.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Off-the-shelf Gearbox and Drives Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Geared Motors and Drives Market 2016-2020
- Global Motors and Drives Services Market 2016-2020
- Global Industrial Gear Motors and Drives Market 2015-2019
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