Thumbnail

Parallel Shaft Geared Motors Market - Segmented by Shaft Type, Stage, Application, and Geography - Growth, Trends, and Forecast (2020 - 2025)

Looking to buy the report?

A parallel shaft gear motor is a type of geared motor that uses gears to accomplish the speed reduction. They are also referred as the modern version of coaxial-geared motors. Parallel shaft geared motor has a wide range of applications in the industries, such as wind power, food & beverage, chemical, pharmaceutical, and logistics and its compact design makes it a better choice over coaxial shaft gear motors. Among all, the food & beverage application has the highest share in the market. Factors driving the market include the minimal cost and compact nature of parallel shaft geared motors, and growing concerns regarding the efficiency of mechanical power transmission.

Demand for Efficient Mechanical Power Transmission Driving the Market

The motors consume a major share of energy in industries, which, in turn, results in high-energy costs. With respect to the rising energy costs, industries across the world are focusing on implementing energy-efficient techniques in their production process. The introduction of stringent energy regulations that emphasize on reducing energy costs has resulted in the adoption of extensive energy efficient methods for various industrial applications. Increasing investments in different manufacturing sectors, such as packaging, plastics, automotive, and unit material handling are expected to create opportunities for the parallel shaft geared motors. The above factors are expected to drive the demand for parallel shaft geared motors, fueling the market’s growth prospects during the forecast period.

Asia-Pacific is one of the Largest Market

Asia-Pacific has emerged as the one of the largest parallel shaft geared motors market, owing to large-scale industrialization and infrastructural development in the region. Governments in Asia-Pacific are focusing on developing their existing infrastructure. Increasing investments and technological advancements in wind power, food and beverage, materials, and other end-user applications has escalated the demand for parallel shaft geared motors. More than 72 GW of new wind capacity is expected to be added over the next ten years in the Asia-Pacific region, increasing its total capacity to 111 GW and making it one of the largest wind sub-regions in the world. The recent economic success and increasing market openness to foreign goods have radically changed the food-processing sector in countries, such as India and China. The emerging economies, like India, China, and Japan are expected to contribute towards the progress of parallel shaft-geared motors market with surging infrastructure development activities and rapid industrialization.

Food & Beverage – A Large Market Share

The food and beverage industry holds the major share in the parallel shaft-geared motors market. This is mainly due to the need to comply with stringent regulations that emphasize food safety, quality, and hygiene, inducing manufacturers to upgrade their equipment accordingly. With the growing population, along with the increase in income of people and the rising demand for food, the parallel shaft-geared motors market is expected to witness a high growth rate in this end-user segment. Food processing machinery is one of the complex and multi-dimensional markets encompassing all the machinery and equipment used in commercial food production and packaging. Increasing demand for food products has resulted in the adoption of automated technologies for processing and packaging machinery in the countries, such as India, China, Thailand, and Indonesia, which, in turn, is expected to drive the parallel shaft geared motors market.

                                             

Major Players: Siemens AG, WEG S. A., NORD Drivesystems, Toledo Gearmotor, Bison Gear & Engineering Corp., ABB Motors and Mechanical Inc., Bodine Electric Company, Mitsubishi Electric Corporation, SPG Co., Ltd, Allied Motion Inc, among others.

Reasons to Purchase This Report

  • Current and future parallel shaft geared motors market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identifying the latest developments, market share, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

  • This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs

Looking to buy the report?

Need a report that reflects how COVID-19 has impacted this market and its growth?

Our clients include:

prev-arrow
next-arrow

Looking to Customize Report?

Please Enter Email ID

Please Enter Message