GEAR REDUCER MARKET ANALYSIS

Regional Analysis

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.