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Analysis of the Global Gearboxes and Gear Motors Market 

  • March 2014
  • 157 pages
  • Frost & Sullivan
Report ID: 2057237


Table of Contents

High Torque Density and Flexible Design of Gearboxes and Gear Motors to Drive Market Growth

Executive Summary

•The global gearboxes and gear motors market is expected to experience a decline in growth in 2013 and 2014, because of the economic slowdown that reduces demand for new products. However, the market is likely to experience nominal growth from the end of 2014 until the end of the forecast period, driven by an expected increase in the demand for new product installations.
•It is estimated that gearbox and gear motors revenue for the metals and mining industry accounts for the fastest growth, and the CAGR from 2012 (revenue of $xx M) to 2017 (revenue of $xx M) is expected to be about xx%.
•The metals and mining, material handling, food and beverage, and power industries are expected to be significant end-user sectors that will contribute to overall market growth.
•Market competition based on pricing is expected to increase during the forecast period. This is likely to reduce the profit margin of gearbox and gear motor manufacturers.
•The 3rd-party service providers are likely to have a negative impact on manufacturers’ revenues from gearbox and gear motor services.
•End users are expected to place emphasis on value for money rather than on product price.
•Hybrid designs that incorporate gearboxes as well as other advanced motion-controller technologies are an emerging trend. Gearboxes and other energy-saving technologies, such as electric drives, and motion controllers, are complementary to each other in saving energy in high-torque applications.
•The trend toward hybrid technology is expected to gain momentum during the forecast period, as the technology provides its users with the dual advantages of a motion controller, which saves power by controlling the rotor speed, and a gearbox, which delivers high torque.
•Hybrid technology is expected to have a negative impact on the growth of the gearbox and gear motors market because this technology makes gearboxes more robust and minimises the need for gearbox services.
•Gear motors are considered to be compact and safe, and have lower maintenance costs for hazardous applications such as mining, oil and gas fields than that of gearboxes.
•Product delivery time is expected to be a key success factor in the gearboxes and gear motors market.

CEO’s Perspective

- Demand in Asian markets is expected to become self-driven rather than export-driven by 2025. This is likely to be a result of an increase in the number of manufacturing industries that utilise gearboxes in these regions.
- During the forecast period, growth in the North American market is expected to be driven by an increase in manufacturing because of the shift away from the offshoring model.
- From 2012 to 2017, the metals and mining industry is expected to witness the fastest growth, with a CAGR of xx%, driven by the growth of the mining sector in North -America, Australia, and Southeast Asia from 2015 to 2017.
- The share of worm gearboxes and worm gear motors is expected to decline by about xx% by the end of 2017. This is likely to be a combined effect of the low efficiency of worm gear technology and customers’ increasing emphasis on energy efficiency.
- Third-party service providers, with the advantage of faster response times and lower prices, are likely to have a negative impact on the service revenues of manufacturers.

Key Findings

•Bargaining power is shifting towards buyers. This has been enabled by newer and more efficient ways of manufacturing that lower the costs of production.
•Lower costs of production favoured lower product price, and as a result, price-based competition has heightened among gearboxes and gear motors vendors.
•Price is expected to be an important factor to compete effectively in the market. Some companies have even reduced their product prices from 2011 to 2013.
•The uncertainty in demand has caused the emphasis on product delivery time to become poised to increase.
•Demand in countries like China that are majorly dependent on exports to the European market fell from 2009 to 2012. The growth in demand is expected to be flat, owing to poor economic conditions that are likely to prevail in Europe during the forecast period.
•The expected slowdown in the Chinese construction industry in 2013 and 2014 is likely to reduce its contribution toward the overall demand for gearboxes and gear motors.

Key Questions This Study Will Answer

Is the market growing, how long will it continue to grow, and at what rate?
Which end-user industries are expected to be significant in the overall market growth rate?
Which type of gearboxes and gear motors are expected to grow in the next 5 years? Is the market for any particular type of product expected to decline?
How will the structure of the market change with time? Could we expect a trend of vertical integration?
Are gearboxes and gear motors expected to be replaced by alternative and newer motion control technologies?
Are the vendors in the market ready to go it alone, or do they need partnerships to take their businesses to the next level?

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