38 n MECHANICAL POWER TRANSMISSION June 2025 www.drivesncontrols.com Top 30 dominate gearbox and geared motors sales After three consecutive years of growth, the global market for geared motors and industrial gearboxes suffered a 3.7% year-onyear decline in sales during 2024, dropping to $12.4bn, according to our recent Geared Motors and Industrial (Heavy-duty) Gears – 2025 report. All of the major markets – EMEA, AsiaPacific and the Americas – suffered declines to varying degrees, due to constraints such as weak demand and de-stocking. Some leading market players have increased their market shares, thanks to competitive advantages in technology, distribution channels, and brand recognition – leading to a more concentrated market landscape. The market for industrial reducers and gearmotors is now relatively stable. Global sales rankings of the top 30 gearmotor and industrial gearbox manufacturers have changed little in the past two years. Together, their revenues accounted for around 84% of total global revenues in 2024 – 1% more than in 2023. In 2023, major Asian suppliers underperformed, compared to their counterparts in EMEA and the Americas. In 2024, most of the top 30 suppliers experienced varying degrees of revenue decline. European suppliers dominate Of the top 30 gearbox manufacturers (by market share), 15 have their headquarters in Europe, 10 are in Asia-Pacific and four are in the Americas. The prominent position of European suppliers is reflected not only in their dominance in the European market, but also in significant shares of other markets. The geographical distribution of gearbox vendors is closely related to the industrial base, the history of gearbox developments, and market demand in each region. Due to its strong industrial heritage, Europe has been a leader in fields such as machinery and automotive manufacturing, driving the local development of gearboxes. Take Germany, for example. Its precision machinery technologies are recognised as being advanced, and it has substantial technical capabilities in the fields of industrial gearmotors and gearboxes. This has enabled EMEA suppliers to occupy dominant positions in the global market for high-performance products. Among the world’s top 30 gearbox suppliers, those in the American and AsiaPacific regions still focus mainly on their domestic markets. Due to the relatively late start in gearbox development the AsiaPacific region (excluding Japan), this region still needs to make breakthroughs in core R&D, and brand-building. However, rapid development of the region’s manufacturing sector has driven a growing demand for industrial geared motors and gearboxes, benefitting local suppliers. Most of the top 30 suppliers offer a variety of geared motor and gearbox technologies, spanning two or three product categories (light-duty geared motors and gearboxes, heavy-duty gearboxes, and planetary geared motors and gearboxes). Light-duty systems are the main product for 13 of the suppliers, The global market for gearboxes and geared motors shrank slightly in 2024, but is expected to return to growth over the next few years. Shirly Zhu, principal analyst at Interact Analysis, examines the market and the factors driving it. Growth predictions for sales of geared motors and gearboxes over the coming few years are positive (Source: Interactive Analysis)
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