Geared Motors and Drives Market Size to Grow by $ 4.64 Billion During 2021-2025
Technavio has been monitoring the geared motors and drives market and it is expected to grow by $ 4.64 billion, accelerating at a CAGR of almost 5.33% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Geared Motors And Drives Market: APAC to lead market growth during the forecast period
- APAC has been recording a significant growth rate and is expected to offer several business opportunities to market vendors during the forecast period. One of the key factors driving the growth in APAC is the growing need to maintain certification standards. 45% of the market growth will originate from APAC during the forecast period.
- Growing importance for accuracy in QC processes will be a significant factor in driving the growth of the geared motors and drives market.
- Growth by the food and beverage segment has been significant and is expected to provide significant growth opportunities to market vendors.
Geared Motors And Drives Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Altra Industrial Motion Corp., Bonfiglioli Riduttori Spa, Eaton Corporation Plc, Mitsubishi Electric Corp., Regal Beloit Corp., Rexnord Corp., SDT Drive Technology, Siemens AG, and Sumitomo Heavy Industries Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Geared Motors And Drives Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive geared motors and drives market growth during the next five years
- Precise estimation of the geared motors and drives market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the geared motors and drives market industry across APAC, Europe, North America, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of geared motors and drives market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 5.33%.
- What is the incremental growth of the market?
The market is expected to grow by $ 4.64 bn through 2021-2025.
- What is a key factor driving this market?
Growing importance for accuracy in QC processes will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
45% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ABB Ltd., Altra Industrial Motion Corp., Bonfiglioli Riduttori Spa, Eaton Corporation Plc, Mitsubishi Electric Corp., Regal Beloit Corp., Rexnord Corp., SDT Drive Technology, Siemens AG, and Sumitomo Heavy Industries Ltd.
- What are the market segments covered in this report?
The market is segmented by End-user (Food and beverage, Metals and mining, Automotive, Wind power, and Others) and Geography (APAC, Europe, North America, MEA, and South America)
