The emergence of COVID-19 has adversely impacted the geared motors market by lowering production in several end-user industries. The closures of many assembly plants led to economic distress, and the risk of default increased. Vendor margins have been impacted in Q2 and Q3 2020, and vendors will continue to experience margin pressures as the payment terms are expected to be realigned. Due to COVID-19, the APAC region has faced a severe impact on its supply chain due to the huge dependency on import and export activities. This has resulted in slowed down production in several end-user industries such as F&B, automotive, and others. The market growth in China has been estimated to witness a drop from around 6% in 2019 to 1% to 1.5% by the end of 2020.
The global geared motors market by revenue is expected to grow at a CAGR of approx. 5% during the period 2021–2026.
The following factors are likely to contribute to the growth of the global geared motors market during the forecast period:
- The emergence of Magnetic Gearboxes
- Increase in Wind Power Installations
- Demand for Geared Motors from Agriculture & Forestry Industries
- Growth in Infrastructural Development in Emerging Countries
Base Year: 2020
Forecast Year: 2021–2026
The study considers the present scenario of the geared motors market and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Prominent Vendors
- ABB
- Business Overview
- Product Offerings
- Key Strengths
- Key Strategies
- Key Opportunities
- Eaton
- Johnson Electric
- Mitsubishi
- Nidec Corporation
- Regal Beloit Corporation
- Siemens
- Sumitomo Heavy Industries
- WEG
Other Prominent Vendors
- Bauer Gear Motor
- Business Overview
- Product Offerings
- Bison Gear & Engineering
- Bonfiglioli
- Dana Brevini Power Transmission
- Groschopp
- Sew-Eurodrive
- Teco Electric Company
- Varvel Group
Motor Type
- AC Motor
- DC Motor
Sales Channel
- Direct Sales
- Indirect Sales
Gear Type
- Helical Gear Motors
- Planetary Gear Motors
- Helical-Bevel Gear Motors
- Worm Gear Motors
- Others
Rated Power
- Up to 7.5 kW
- 7.5 kW–75 kW
- Above 75 kW
End-user
- Food & Beverages
- Automotive
- Metal & Mining
- Chemicals
- Material Handling
- Oil & Gas
- Packaging
- Cements
- Marine
- Others
By Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- APAC
- China
- Japan
- South Korea
- Australia
- India
- Latin America
- Brazil
- Mexico
- Chile
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Turkey
- Rest of Middle Eastern Countries
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Source: Geared Motors Market - Global Outlook and Forecast 2021-2026 by Arizton Advisory & Intelligence
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