India Worm Gear Reducers Market to Grow at a high CAGR until 2028
Rising scope of application
in elevators, security gates and off-road vehicles and increasing demand across
different end user industries such as mining and construction, etc. are
expected to drive the growth of the Worm Gear Reducers Market during the
forecast period of 2024-2028.
According to TechSci Research report, “India Worm Gear Reducers Market –Industry Size, Share, Trends, Opportunity,
and Forecast, 2018–2028, the India Worm Gear Reducers Market is expected to
register a robust growth during the forecast period, 2024-2028”.
Owing to rising investment by end-use
industries such as energy & electricity, escalator / elevator drive
systems, and others, the market is expected to have significant potential. With
the use of a worm reduction gearbox or a low-speed gear ratio, substantial
torque can be generated from relatively tiny electric motors. Owing to the
typical low torque and fast speed of small electric motors, the installation of
a worm gear reducer broadens the applications. Worm gear reducers are mostly
utilized in industrial machinery such as presses, rolling mills, conveying engineering,
and others. Moreover, companies associated with worm gear reducers are
improving their technologies and ensuring better quality of products. Growth in
investments across end-use industries is expected to push the market for worm
gear reducers forward, thereby accelerating additional revenue generation owing
to long-term collaborations with component vendors. Moreover, worm gear
reducers manufacturers are developing new methodologies to obtain optimal
efficiency and operational capabilities through intensive research &
development, which is expected to increase the demand during the forecast
period.
Additionally, a large need for an
enhanced healthcare system is being created by the rising prevalence of
diseases across the country. Worm gear reducers are one such technologically
advanced medical equipment that is increasingly being used to assist medical
experts and practitioners in medical settings. The fast use of Industry 4.0 in
conjunction with other technologies, such as the Internet of Things and
artificial intelligence, is another factor boosting the growth and development
of the India Worm Gear Reducers Market. The expansion of the India Worm Gear
Reducers Market is also being supported by the expanding favorable government
policies in favor of noise pollution. The growth of India Worm Gear Reducers Market
is also being driven by the growing construction and building activities.
Moreover, the growing need for clean energy is expanding the growth of power
generation sector. The worm gear reducers are widely used in power generation
industry. As a result, all of these factors are driving the India Worm Gear
Reducers Market growth.
Moreover, the COVID-19 pandemic had a negative
impact on the growth of India Worm Gear Reducers Market. The players operating
in automotive and automobile sectors saw a decline in revenue and sales. This
factor has directly impacted the worm gear reducers market growth in a negative
way. In addition, the halt of various business processes also had a negative
impact on the growth of India Worm Gear Reducers Market.
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"India Worm Gear Reducers Market "
India Worm Gear Reducers
Market is segmented on the basis of type, end use sector, by power rating, and by region.
On the basis of region, South
India is expected to dominate the India Worm Gear Reducers Market because India's
industrial base lies in the south. The rising industrialization, urbanization,
and ongoing construction of new homes and businesses are further elements that
will expand the market's reach. A huge number of small, medium, and large-scale
farmers reside in the area, which is expected to lead to greater market
expansion.
On the basis of end use
sector, machine tools are expected to dominate the India Worm Gear Reducers Market
because heavy duty operations are driven by worm gear reducers. Worm gear
reducers are employed when more speed reduction is required between crossing
axis shafts that are not intersecting. The wheel moves similarly to the worm's
rotational motion because of the screw-like action. The majority of these worm
gear reducers are employed in mining and other heavy industry machinery.
Major
market players operating in the India Worm Gear
Reducers Market are:
- Anbhuti Power System
- J D Automation
- N. S. Technocrats
Private Limited
- P.G. Drive
- Kavitsu
- Anand Gears
- Pearl Engineers
- Powertek Equipment Co.
- Mayuresh Gears Pvt. Ltd.
- Boston Gear
- Rotork Controls (India)
Ltd
- Ketterer Drives
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“Owing to infrastructure growth, every
industry is upgrading its procedures. Additionally, rising infrastructure
investments are fostering the expansion of the India Worm Gear Reducers Market.
In addition, one of the most significant factors expected to contribute to the
India Worm Gear Reducers Market's rapid expansion over the coming years is the
growing use of automation technologies in the manufacturing sector.
Additionally, the growing need for energy-efficient worm gear reducers as well
as sustainable energy sources is driving sales in the India Worm Gear Reducers
Market,”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
India management consulting firm.
“India Worm Gear Reducers
Market –Industry Size, Share, Trends, Opportunities, and Forecast,
2018-2028, Segmented By Type (Orthogonal, Parallel-shaft, Coaxial), By End Use
Sector (Machine Tools, Construction Machinery, Ships), By Power Rating (<1
kW, 1-3kW, 3-5.5kW, 5.5-7.5kW, 7.5kW-11kW, >11kW), By Region, Competition”, has evaluated the future growth potential
of the India Worm Gear Reducers Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Worm Gear Reducers Market.
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