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Gear Reducer

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The research report on Gear Reducer Market is segmented By Product Type By Application and By Region - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026
Gear Reducer Market - Size, Share, Outlook, and
Opportunity Analysis, 2018 – 2026
Gear reducer is a mechanism by which output energy of high-speed motor or engine
is transmitted to another mechanical component by lowering the rotational speed at
higher torque. It also delivers mechanical safety by reducing speed of the rotating
equipment. The number of gears used in the reduction gear assembly depends on
the output speed and requirement of applications.
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Increasing installation of wind turbines worldwide is driving growth of the
market
Increasing installation of wind turbines worldwide is one of the major factors driving
growth of the gear reducer market. Gear reducer is used in wind turbines for
controlling the speed of motor with which power is transmitted. The primary purpose
of gear reducer is to multiply the amount of torque generated by an input resource, in
order to achieve the desired output from the wind turbine. For instance, according to
the Global Wind Energy Council (GWEC), in 2016, the total installed capacities of
wind turbine was 485 GW and is expected to surpass 800 GW by 2021. According to
Coherent Market Insights’ analysis, the total installed capacities would increase to
over double the installed capacities in 2016, by 2025.
Moreover, factors such as low initial cost, high ratios, and high output torque, less
energy cost, light weighted, and ease of installation are some of the advantages of
gear reducers, which inadvertently increases its applications in agricultural,
industrial, construction, mining, and automotive equipment among others. These
factors will help in fueling growth of the gear reducer market.
Global Gear Reducer Market: Key Trends
One of the key trends of the market is the launch of magnetic gear reducer, which is
expected to drive growth of the market over the forecast period. A magnetic gear
reducer uses a permanent magnet to transmit torque from an input shaft to an output
shaft without mechanical contact. Since there is no contact between the rotors, the
gear will work smoothly even if the torque exceeds the speed limit. Magnetic gear
reducer offers various advantages such as higher efficiency, low maintenance cost,
high reliability, low noise and vibration, durability, high bearing overloading capacity,
and a low energy consumption.
High repairing cost of gear reducer is one of the major factors restraining
growth of the market
High repairing cost of gear reducers is one of the major factors restraining growth of
the market. For instance, according to Spareinmotion, a leading online shop for wind
turbine parts and repairs, repairing cost for Gearbox PEAB 4935 was US$ 54.47
million and Gearbox PEAB 4390 was US$ 48.94 million. Moreover, the increasing
cost of raw materials such as stainless steels, hardened steel, aluminium, cast iron,
bronze, and brass is another factor restraining growth of the market.
Global Gear Reducer Market: Regional Insights
The gear reducer market in Asia Pacific is expected to grow at highest CAGR during
the forecast period (2018-2026). Rising number of wind power producing projects in
emerging economies such as India, China, and Japan is one of the major factors
driving growth of the market. For instance, according to the Global Wind Energy
Council (GWEC) analysis, the total installed capacity of wind power in 2016 was
168,732 KW, which increased to 19,660 KW in 2017. Similarly, in India, the installed
capacity of wind power was 26,777 KW in 2016, which increased to 32,280 in 2017.
Therefore, increasing installation of wind turbines will positively increase the demand
for gear reducers, as it helps in converting a relatively slow turbine blade speed to a
high speed for generating electricity.
Furthermore, rapid industrialization especially in the developing regions such as
India and China, are further increase the installation of wind turbine for fulfilling the
need of the electric power in these particular region. Moreover, stringent government
rules and regulations in regarding reducing the emission of carbon will further
increase the installation of wind turbine as wind being cheapest power source for
generating the power. This resource is vital for developing a sustainable and low
carbon economy which reduces the overall detrimental effects on the environment.
Global Gear Reducer Market: Competitive Landscape
Key players operating in the global gear reducer market include IPTS, Inc., NORD
Drivesystems, Altra Industrial Motion Corp., Apex Dynamics, Inc., Ondrives.US
Corporation, Siemens, Li Xiang Mach & Elec Co., Ltd, JVL Industri Elektronik,
Boneng Transmission Co., LTD, Zhejiang Ever-Power Transmission Co. Ltd.,
FIXEDSTAR, and HBReducer.
The gear reducer market appears to be highly fragmented due to the presence of
several international and regional players who focus extensively on R&D and
technological advancements. The competition among the players increased due to
low product differentiation. Moreover, to attain competitive advantage over the other
players, the manufacturers of gear reducers are focusing on introducing new and
innovative variants, and their product portfolio varies based on price, quality,
innovation, and regulatory compliance. For instance, in January 2018, Li Xiang Mach
& Elec Co., Ltd launched new series of helical gear reducers to provide greater
efficiency and flexibility for mechanical, electrical, and hydraulic motor operations.
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Author
apeksha motghare
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