Regional Outlook (Revenue, USD Billion, 2017 - 2030)

Middle East and Africa (MEA) precision servo motor

b. The global gear motor market size was estimated at USD 24.38 billion in 2023 and is expected to reach USD 25.63 billion in 2024.

b. The gear motor market is expected to grow at a compound annual growth rate of 7.0% from 2024 to 2030 to reach USD 38.38 billion by 2030.

b. The up to 10,000 Nm segment claimed the largest market share of 64.3% in 2023 in the gear motor market, driven by their versatility and effectiveness in a wide range of applications. These gear motors are known for their reliability and performance in industrial settings, including manufacturing and material handling, where high torque and efficiency are essential. Advances in technology, cost-effectiveness, and the growth of industrialization have further fueled their demand, making them the most popular choice across various sectors.

b. Prominent players in the gear motor market are Eaton, Siemens, SEW-EURODRIVE, WEG Gear Systems GmbH, Johnson Electric Holdings Limited, Emerson Electric Co., Bauer Gear Motor, Sumito Drive Technologies, ABB, Regal Rexnord, Portescap, ORIENTAL MOTOR USA CORP.

b. The gear motor market is driven by factors such as increasing industrial automation, growing demand for energy-efficient solutions, advancements in gear motor technology, and the expansion of industries like manufacturing, automotive, and material handling. Additionally, the rise in infrastructure development and the need for reliable, high-performance machinery contribute to the market's growth.

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