Global gearboxes and gear motors market to improve

Global demand for gearboxes and gear motors in also increasing due to the simplicity, cost-effectiveness, modular design and flexibility benefits offered. North America and Asia-Pacific are likely to become the largest markets owing to increased manufacturing and mining activities.

Krishna Raman, Senior Research Analyst, Industrial Automation & Process Control, Frost & Sullivan, commented: “Advancements in gear technology that facilitate the development of compact, high precision devices will encourage the uptake of gearboxes and gear motors in these regions. The high torque density and customisable features of gearboxes will add to their popularity.”

However, technological advancements can be a double-edged sword. By enabling a longer product life cycle, the market for replacements is decreased. This is particularly pronounced with the use of hybrid gearboxes, which will reduce the need for new devices in the short term. The global economic slowdown will also affect the uptake of new equipment.

Frost & Sullivan therefore suggest that manufacturers scout for inorganic growth opportunities among companies that offer products complementary to gearboxes to establish a strategic advantage in the global market. This will aid delivery of holistic drive solutions and meet consumer demand for integrated automation solutions.

“Backward vertical integration could also enable manufacturers to gain control over lead times. Setting up local manufacturing or assembling units near the markets served will be another efficient way to achieve faster delivery times and stay competitive in the global arena," added Raman.