Gear Motors Market Size, Share, Trends, Growth 2030

Gear Motors Industry Perspective:

The global gear motors market size was evaluated at $20.01 Billion in 2022 and is slated to hit $31.07 Billion by the end of 2030 with a CAGR of nearly 6.01% between 2023 and 2030.

The market report is an indispensable guide on growth factors, challenges, restraints, and opportunities in the global marketplace. The report covers the geographical market along with a comprehensive competitive landscape analysis. Additionally, the report explores the investor and stakeholder space to help companies make data-driven decisions.

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Global Gear Motors Market: Synopsis

A motor comprising a set of speed gears is termed a gear motor. In a gear motor, an electric motor and reduction gear are integrated into a single unit. This motor can be operated in many directions including horizontal, vertical, or tilted. Furthermore, gear motors are utilized in farming activities such as weed controlling, seed spreading, harvesting, and irrigation. Various kinds of gear motor types include bevel gear motors, shaft-mounted gear motors, worm gear motors, and helical gear motors. Reportedly, gear motors operate on direct current and alternating current.

Key Insights

• As per the analysis shared by our research analyst, the global Gear Motors market is projected to expand annually at the annual growth rate of around 6.01% over the forecast timespan (2023-2030)
• In terms of revenue, the global Gear Motors market was evaluated at nearly $20.01 billion in 2022 and is expected to reach $31.07 billion by 2030
• The gear motors industry is anticipated to record massive growth over the forecast period due to surging wind power deployments and minimal cost of gear motors as well as its compact nature.
• Based on gear type, the helical-bevel segment contributed to a major share of the global market in 2022
• On basis of the end-user industry, the automotive segment is expected to account for a major share during the assessment period.
• Region-wise, the Asia-Pacific Gear Motors market is projected to record massive growth over the assessment timespan.

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Gear Motors Market: Growth Factors

Rise in wind power installations and reduced gear motors costs to expedite the global market trends

Surging wind power deployments and the minimal cost of gear motors as well as their compact nature are predicted to exponentiate the expansion of the global gear motors market in the years to come. Rising concerns pertaining to the efficacy of mechanical power transmission to expand the scope of the growth of the global market. Surge in the number of renewable energy projects will push the global market trends. Rapid changes in designing processes, execution of modular & compact designs, and simple mechanical designs of particular products will foster the gear motors market surge in the forecasting years.

Furthermore, escalating awareness about hybrid technology and a rise in the number of industries inclined towards the use of green products will prop up the growth of the gear motors market across the globe. Growing penetration of gear motors in the farming sector to boost the expansion of the global market.

Gear Motors Market: Hindrances

Huge initial and maintenance costs to impede the global industry expansion

High initial costs and after-sales services can impede the expansion of the global gear motors industry. Surging maintenance & production costs and the easy availability of alternative products can impede the growth of the gear motors industry.

Gear Motors Market: Opportunities

Surging penetration of gear motors in automotive and food & beverages sectors to open new vistas of growth for the global market

Escalating use of gear motors in the food & beverages and automotive sectors will open new growth avenues for the global gear motors market in the years to come.

Gear Motors Market: Challenges

Need for routine monitoring of gear motors & gear boxes for avoiding oil leaks to prove a big challenge for the global industry

The requirement of constant inspection of gearboxes and gear motors for preventing oil leakage and temperature check can prove to be a key challenge in the growth path of the global gear motors industry.

Gear Motors Market: Segmentation

The global gear motors market is sectored into the product, gear type, rated power, torque, end-user industry, and region.

In terms of gear type, the global gear motors market is divided into helical, planetary, helical-bevel, and worm segments. The helical-bevel segment, which accounted for the major market share in 2022, is predicted to contribute majorly towards the global market share by 2030. The segmental growth can be attributed to its ability in reducing noise during gear operations. Furthermore, the escalating use of the product in high-speed cars due to its less friction will boost the segmental surge. Moreover, the product is likely to witness huge penetration in industrial settings such as plastic, rubber, and cement constructions.

Based on product, the market is segregated into the gearbox and gear motor

Based on rated power, the market is segmented into up to 7.5kW, 7.5kW to 75kW, and above 75kW.

Based on torque, the market is divided into up to 10,000 Nm and Above 10,000 Nm

Based on the end-user industry, the global Gear Motors industry is bifurcated into Wind Power, Food & Beverage, Metals & Mining, Automotive, Construction, Cement & Aggregates, Power Generation, Chemicals, Rubber, & Plastics, Material Handling, and Marine segments. Furthermore, the automotive segment is predicted to contribute a major share of the global market over the forecast timeline. The growth of the segment over the projected timeline is owing to the rise in use of gear motors in commercial and passenger vehicles. Apart from this, gear motors are used for driving lifts and conveyors in the automotive sector and improve the smoothness of vehicle machinery.

Recent Breakthroughs

• In the third quarter of 2019, Premium Transmission, a key Indian firm manufacturing gear motors, fluid coupling, and industrial gearboxes, launched seven products in the industrial gear sector. For the record, the new products include a small planetary gearbox, PCX-series cooling tower gearbox, smart modular series helical gearbox, gearless lift machine, modular fluid coupling, gearless lift machine, and inline geared motor. Reportedly, these products can cater to the business requirements of various sectors such as material handling, oil & gas, food & beverages, steel & cement, power, textile, and elevators. The move will boost the scope of growth of the gear motors business in India and the Asia-pacific region.
• In the first half of 2023, Tata Motors, a key Indian automotive manufacturer, signed an MoU with Uber, a leading ridesharing app in India, to bring nearly 25,000 XPRES-T electric vehicles into the premium category. The move is aimed at increasing the firm’s endeavors and contributions towards a green environment along with offering electric vehicles to the major cities of the countries including Hyderabad, Delhi NCR, Ahmedabad, Mumbai, Chennai, Kolkata, and Bangalore. The initiative will result in the gear motors industry expansion in India.

Gear Motors Market: Report Scope

Gear Motors Market: Regional Insights 

Gear Motors Market in the Asia-Pacific To Experience Escalating Growth During 2023-2030

The Asia-Pacific region is expected to lead the global Gear Motors market over the forecast timeline. The growth of the regional market in the upcoming years can be due to swift infrastructural growth and rapid industrialization. Increase in wind power projects and growing industrial developments in Japan, China, and India will boost the regional market trends.

Furthermore, North America is slated to contribute lucratively towards the overall gear motors industry surge in the forthcoming years. The regional expansion over 2023-2030 can be credited to high investment in green energy and wind energy generation ventures. In addition to this, large-scale demand for gear motors in Europe will culminate in humungous growth of the gear motors market in Europe. Rise in the production of sustainable energy by windmills in European countries such as Germany, France, and the UK will push the expansion in the size of the gear motors market in Europe.

Gear Motors Market: Competitive Space

The Gear Motors market profiles key players such as:

• Radicon
• Winergy
• Elecon Engineering Company Limited
• Siemens AG
• Johnson Electric Holdings Limited
• Eaton Corporation plc
• Portescap Inc.
• Bosch Rexroth AG
• Bonfiglioli Riduttori S.P.A.
• Emerson Electric Co.
• Bison Group
• Baldor Electric Company
• BFT Automation UK Ltd.
• Sumitomo Drive Technologies
• Brevini Power Transmission
• Watt Drive AntriebsTechnik GmbH
• Varvel SpA
• Leroy Somer
• Bauer Gear Motor GmbH
• Framo Morat Group
• China High Speed Transmission Equipment Group Co. Limited
• WEG S.A.
• Eaton Corporation PLC
• SEW-Eurodrive.

The global Gear Motors market is segmented as follows:

By Product

• Gearbox
• Gear Motor

By Rated Power

• Up to 7.5kW
• 7.5kW to 75kW
• Above 75kW

By Gear Type

• Helical
• Helical-Bevel
• Planetary
• Worm

By Torque

• Up to 10,000 Nm
• Above 10,000 Nm

By End-User Industry

• Wind Power
• Material Handling
• Food & Beverage
• Cement & Aggregates
• Metals & Mining
• Automotive
• Construction
• Power Generation
• Chemicals, Rubber, & Plastics
• Marine

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa