The worm reduction gearbox market in United State is expected to experience a steady growth rate of 5.7% over the forecast period. This is attributed to the widespread use of gearboxes in both the automotive and construction & mining sectors, which is likely to provide stability and insulation to the market.
The worldwide worm reduction gearbox market, valued at approximately $2 billion in 2022, is projected to exceed $3.6 billion by 2032, demonstrating a steady compound annual growth rate (CAGR) of 5.8% throughout the forecast period spanning from 2022 to 2032.
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Key Takeaways from Market Study
- Under the gear ratio segment, single reduction is likely to reach a market volume share of 71.1% by the end of 2032.
- The energy & power end-use sector is likely to expand at a CAGR of 6.5% over the forecast period of 2022-2032.
- Under output torque, 100 – 200 Nm is likely to grow 2X over the forecast period.
- The escalator / elevator drive systems end-use segment is anticipated to provide an absolute $ opportunity of US$ 371.4 million by 2032.
- Based on regions, demand for worm reduction gearboxes in East Asia is expected to increase at a CAGR of 6.7% over the decade.
Key Companies Profiled
- Andantex USA Inc.
- Atlas Gear Co.
- Boneng
- Cone Drive
- Delroyd Wormgear Altra Industrial Motion
- DieQua Corporation
- Fixedstar Group
- Omega Corporation
- SGR Transmission
Industrial Motor Brakes Market: Segmentation
On the basis of type,
- DC Brake
- AC Brake
- Torque
On the basis of braking mode,
- Holding
- Overhauling Braking
- Load Assisted Braking
- Soft Stop Braking
On the basis of the application,
- Regenerative Braking
- Dynamic Braking
- Plugging
On the basis of End Users,
- Metals & Mining
- Construction
- Manufacturing
- Processing
- Others
Competitive Landscape
The global worm reduction gearbox market is moderately fragmented due to the presence of several regional and global players. Strategic alliances, sales contracts, product approvals, acquiring technical expertise, partnership agreements, capacity utilization, and technological advancements are being pursued by worm reduction gearbox producers to increase their market share.
Along with this, players are leveraging economies of scale with low cost as a strategic approach to expand their presence in the market and garner a wider consumer base. Market participants are also expanding their product portfolios with the diversification of product-based output torque and gear ratio. Leading players have entered into long-term collaborations with end users to create consistency in demand.
Fact.MR has provided detailed information about the price points of key manufacturers of worm reduction gearboxes positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The report covers the following Industrial Motor Brakes Market insights and assessments that are helpful for all participants involved in the Industrial Motor Brakes Market:
- Data on recently introduced regulations and their impact on key industries and on-demand in Industrial Motor Brakes Market
- Latest Industry Analysis on the Industrial Motor Brakes Market with the key analysis of market drivers, trends, and influencing factors
- Key Trends Analysis of Industrial Motor Brakes Market and changing consumer preferences in major industries.
- Changing Industrial Motor Brakes Market Demand and Consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive Analysis of the Industrial Motor Brakes Market major Players
- Industrial Motor Brakes Market sales in the US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- The Industrial Motor Brakes Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
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