GEAR REDUCER MARKET ANALYSIS

Gear Reducer MarketSize and Trends

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.

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.