Industrial gear motors & drives market include power transmission components that are primarily used to reduce cost and complexity in designing machines, tools, and appliances that need high torque at low shaft speed. The market is expected to witness high growth owing to the rising demand of machined products in the mechanical industry. Mechanical industry is projected to grow more than a quarter over the forecasted period mainly due to the increasing demand in industries such as automobile, aerospace, petroleum and food & beverage. The automobile and aerospace industries are forecasted to grow more than 15% CAGR and 11% CAGR respectively, majorly due to the growing consumer demand, economic development, and standard of living. Similarly other industries are expected to report high growth owing to the competition, awareness, and new product development.

Growing demand of high quality finished product, increasing dependence on automation, growing consumer expectations, and continuous innovation & development are the key drivers that are projected to propel the market growth over the next seven year. These driving factors support the market in reducing cost, time, & other resources, hence in achieving high operational efficiency, MTBF (mean time before failure), and quality. The key restraints that are expected to slightly decrease the market growth are government regulations, stringent emission norms, high competition, low profit margins, and changing consumer behavior

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The market is segmented by type into Standard geared products and Precision geared products. Standard geared motors are compliant to IEC/EN standards. These motors majorly come in the power range of 200kW, with a gear unit torques of up to 35,000 Nm. The prime strengths that boost its demand in the market are high rated gear unit torques, high gear unit ratio, quiet geared motors, and high degree of flexibility. On the other hand Precision geared motors are majorly used to exhibit continuous drive applications, high quality, high durability, and high operating life.

These motors are primarily segmented to provide medium to high torque ranging from 500 Nm to 7000 Nm. They are typically used in industrial applications such as in driving belts, production lines, and mixers or stirrers (specifically for paints), and in consumer applications such as printing machines, electric curtain rails, and model toy cars. The precision geared products are preferred over standard geared products where there is a demand of continuous drives, medium torque demand, technical bulletins, unparalleled technical support, and web based help features.

The market is segmented by applications into vending machines, washing machines, fan oscillators, valve actuators, peristaltic pumps, lubricating equipment, label & packaging equipment, garage door openers, stair lifts, power drillers, cake mixers, robotics, cranes, jacks, and electromechanical clocks. The aforementioned applications segment application uses varieties of geared motors such as AC powered, DC powered, fixed-speed drives, and variable speed drives. DC powered drives are primarily used in automotive industrial applications such as windshield wiper motors, power window motors, Water pumps, and power lifting devices in trucks.

The Industrial Gear Motors and Drives market is segmented by functions into torque multiplication, speed regulation, and mechanical advantage. These functions drive the market significantly and are forecasted to propel more over the next seven years due to the growing dependence on machined products, and increasing demand of high quality products.
The market is segmented by region into North America, Latin America, Europe, Asia Pacific, and Middle East. North America accounts for major market share globally due to the presence of high dependence on manufacturing industry, companies focused in providing high quality, precision products. Particularly the US accounts for high market share among other countries in the region, due to the growing awareness about the applications, functions, resource allocation, and responsive in adopting the advanced technologies.

The European region accounts for the second highest market share mainly due to the increasing consumer demand, economic development, and continuous innovation. The Asia Pacific region is forecasted to witness fastest growth due to the increasing investments and growth in industries such as Automotive, Food & beverage, Infrastructure, Petroleum, Manufacturing. Particularly countries such as India, China, Japan, and Singapore accounts for major market share mainly because of increasing globalization and high economic developments.

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People in these countries have high disposable income as compared to other countries in APAC which in turn enables them to depend more on machined products. Middle East & African region is a high potential market as constituting countries have high gross domestic product and high per capita income, but due to low penetration of manufacturing sector, they are majorly into service sector. In the next seven years, the region is expected show a substantial growth in the industrial geared motors and drives market.Prominent vendors in the industrial geared motors and drives market are ABB, Bonfiglioli RIDUTTORI, Emerson electric, Siemens, Boston gear, Eaton, Nord drive system, Faulhaber, Portescape, Demag, Varvel, Bison, Rexnord, Thomson and SEW-EURODRIVE.

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