Interact Analysis have recently released the 2nd edition of their Geared Motors and Industrial (Heavy-Duty) Gears report.
The below infographic demonstrates some of the key findings.
The infographic is also available to download in PDF here
– The world-wide market for geared motors and heavy-duty gears was valued at $11.2bn in 2020 and expected to see a 4.8% annual growth by 2025 reaching $14.2bn
– APAC remained the largest market for industrial geared products in 2020 with 47% of the global market revenues
– By 2025, APAC is predicted a 5% CAGR to 6.7%bn with the Americas expected to register a 4.7% CAGR to $ 2.6bn and the EMEA also predicting a 4.7% CAGR to $4.8bn
– Machinery manufacturers were the leading consumers in 2020 accounting for around 74% of total revenues
– The top 5 industry sectors for Geared Motors and Industrial Gears were; Conveyors at $2bn (6.3% CAGR), Wind Turbines at $0.7bn (5.1% CAGR), Packaging Machinery $0.7bn (4.5% CAGR), Food and Beverage Machinery at $0.6bn (4.4% CAGR) and Cranes at $0.8bn (4.0% CAGR)
– SEW Eurodrive was the world market leader for solo gearboxes and geared motors and Flender was the top supplier of heavy-duty geared units.