Parallel Shaft Geared Motors Market to Grow with a CAGR of 15.19% through 2028
Increasing
demand for parallel shaft geared motors in various industries like Automotive and Food and
beverage are likely to drive the market in the forecast period.
According to
TechSci Research report, “Parallel Shaft Geared Motors Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Parallel Shaft Geared Motors Market stood at USD 715.11 million in
2022 and is anticipated to grow with a CAGR of 15.19% in the forecast period. One prominent
driver of the global Parallel Shaft Geared Motors market is the rapid growth of
industrial automation and robotics across various industries. As industries
increasingly embrace automation to boost productivity, enhance precision, and
reduce operational costs, the demand for Parallel Shaft Geared Motors has
surged. Parallel Shaft Geared Motors are a vital component in automated
systems, ensuring controlled and precise motion. Industries such as
manufacturing, automotive, logistics, and packaging heavily rely on these
motors to power conveyors, robots, and other automated machinery. Their compact
design and torque efficiency make them well-suited for space-constrained
environments. The adoption of Industry 4.0 principles, incorporating
technologies like the Internet of Things (IoT) and artificial intelligence, has
further fueled the demand for Parallel Shaft Geared Motors. These motors play a
pivotal role in achieving seamless synchronization and control in smart
factories and advanced automation solutions. Consequently, the global Parallel
Shaft Geared Motors market is thriving as industries transition toward greater
automation and robotics integration.
A critical
driver influencing the global Parallel Shaft Geared Motors market is the
growing emphasis on energy efficiency and environmental sustainability. In an
era of increasing environmental awareness and stringent regulations, industries
are actively seeking ways to reduce energy consumption and minimize their
carbon footprint. Parallel Shaft Geared Motors are renowned for their high
efficiency in transmitting mechanical power, often exceeding 90%. This
remarkable efficiency translates into reduced energy consumption and lower
greenhouse gas emissions. Consequently, organizations across diverse sectors,
from manufacturing to logistics, are increasingly replacing older, less
efficient motors with Parallel Shaft Geared Motors to curb energy costs and meet
sustainability targets. Government initiatives and regulations worldwide have
also played a pivotal role in driving the adoption of energy-efficient
technologies like Parallel Shaft Geared Motors. These policies include setting
energy efficiency standards, offering incentives, and encouraging industries to
embrace environmentally friendly solutions. The global shift toward sustainable
practices and energy-efficient technologies ensures a sustained demand for
Parallel Shaft Geared Motors, making them an integral component in industries'
efforts to reduce their environmental impact while achieving cost savings
through improved energy efficiency.
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"Global Parallel Shaft Geared Motors Market”
The Global Parallel
Shaft Geared Motors Market is segmented into shaft type, stage, application and
region. Based on stage, The
3-stage segment had the largest market share in 2022 & expected to maintain
it in the forecast period. 3-stage geared motors typically offer a higher
reduction ratio compared to 2-stage motors. This means they can provide greater
torque output, making them suitable for applications that require substantial
force or load handling. In applications where precise control of speed and
torque is crucial, 3-stage geared motors can offer finer control due to their
multi-stage design. This makes them valuable in industries like robotics, where
precision is paramount. While they offer higher reduction ratios, 3-stage
geared motors can still maintain a relatively compact design, making them
suitable for applications with space constraints. 3-stage geared motors are
versatile and can be adapted to a wide range of applications across different
industries, including manufacturing, material handling, and automation. Modern
3-stage geared motors are often designed for high efficiency, reducing energy
consumption and operating costs. This can be a crucial factor in
energy-conscious industries.
Based on application,
The Energy Industry segment had the largest market share in 2022 and is
projected to experience rapid growth during the forecast period. The energy
industry encompasses a wide range of applications, including power generation,
transmission, and distribution. Parallel Shaft Geared Motors are versatile and
can be used in various aspects of these applications. For example, they can be
used in conveyor systems for coal handling in power plants, in the rotation of
wind turbine blades, or in controlling the flow of fluids in oil and gas
operations. The energy industry places a high value on efficiency and
reliability. Parallel Shaft Geared Motors are known for their precision,
reliability, and the ability to deliver consistent performance over extended
periods. This makes them well-suited for critical applications within the
energy sector. Many processes within the energy industry involve heavy loads
and high torque requirements. Parallel Shaft Geared Motors are capable of
providing the necessary torque, making them an ideal choice for tasks such as
moving materials or controlling valves and dampers. As the energy industry
adopts more automation and smart technologies, geared motors play a crucial
role in ensuring precise and controlled movements in various automated systems,
contributing to the overall efficiency of energy generation and distribution.
Parallel Shaft Geared Motors can be adapted to a range of environmental
conditions, including extreme temperatures and harsh operating environments,
which are often encountered in the energy sector. With a growing emphasis on
energy efficiency and sustainability, the energy industry is constantly seeking
ways to reduce energy consumption. Parallel Shaft Geared Motors with high
efficiency ratings align with these initiatives and can help reduce energy
costs.
Major companies
operating in the Global Parallel Shaft Geared Motors Market are:
- Siemens
AG
- SEW-EURODRIVE
GmbH & Co KG
- NORD
Drivesystems
- Bosch
Rexroth AG
- Emerson
Electric Co.
- ABB
Ltd
- Sumitomo
Heavy Industries Ltd
- Bonfiglioli
S.p.A.
- Regal
Rexnord Corporation
- WEG
S.A.
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“The Global Parallel
Shaft Geared Motors market is expected to rise in the upcoming years and
register a significant CAGR during the forecast period. Rising demand for
industrial automation and robotics fuels the Parallel Shaft Geared Motors
market. These motors are essential for precise, controlled motion in automated
systems, serving industries like manufacturing, logistics, and automotive.
Additionally, Increasing focus on energy efficiency and sustainability drives
adoption of Parallel Shaft Geared Motors. These motors offer high efficiency,
aiding industries in reducing energy consumption and complying with
environmental regulations, enhancing their green credentials. Therefore, the
market of Parallel Shaft Geared Motors is expected to boost in the upcoming
years.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Parallel Shaft Geared Motors Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Shaft Type (Solid Shaft, Splined
Hollow Shaft, and Hollow Shaft with Shrink Disc), By Stage (2-stage, 3-stage,
and Other Stages), By Application (Energy Industry, Food and Beverages,
Automotive & Transportation, Others), By Region, By Competition”,
has evaluated the future growth potential of Global Parallel Shaft Geared
Motors Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Parallel Shaft Geared
Motors Market.
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