Technavio recognizes the following companies as the key players in the Global Geared Motors and Drives Market: ABB, Bonfiglioli, Emerson Electric, Regal Beloit, and Siemens.
Other Prominent Vendors in the market are: Anaheim Automation, Bauer Gear Motor, Boston Gear, Dematek, Eaton, Grosschopp, NORD Drivesystem, Rexnord, SEW-EURODRIVE, SUMITOMO Heavy Industries, and WEG (Watt Drive).
Commenting on the report, an analyst from Technavio’s team said: “a trend influencing the market is the emergence of integrated geared motors and drives systems. The integration of gearboxes, geared motors, drives, and generators offers advantages in terms of size, weight, and cost. We note that the combined geared and generator products are competitively priced than conventional products. SIMOGEAR of Siemens offers the same size as products available in the market but offers higher ratio and torque. Such attributes can increase the power of the system.”
According to the report, a key market driver is the increased focus on energy efficiency. Growing energy consumption worldwide coupled with high costs of electricity has necessitated end-user industries (like food and beverage, power, oil and gas, and chemical and petrochemicals) to pursue energy efficiency measures. We estimate that on an average 9% of the production cost in any industry is spent on electricity. The number climbs to 41% in energy-intensive industries such as oil and gas, food and beverage, and in power generation. Therefore, end-users are working to reduce energy consumption through the use of geared motors and drives.
Further, the report states that challenges like high maintenance costs can impede market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit- http://www.technavio.com/report/global-automation-geared-motors-and-drives-market
Technavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit- http://www.technavio.com/industries/automation
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