(MENAFN- Techsci Research) Growing demand from agricultural industry and the surge in demand for eco-friendly energy is expected to drive the demand of the Indonesia Gear Motors Market in the forecast period.
According to TechSci Research report, “Indonesia Gear Motors Market By Type (Helical Gear Motors, Helical-Bevel Gear Motors, Worm, Planetary and Others) By Product Type (Gearbox and Gear Motor) By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW and Above 75 kW) By Torque (Up to 10,000 Nm and Above 10,000 Nm) By End Use Industry (Wind Power, Metals and Mining, Automotive, Construction, Chemicals & Petrochemicals, Power Generation (Excluding Wind Power), Others) By Region, Company Forecast & Opportunities, 2026”, the Indonesia gear motors market is expected to grow at a steady rate in the forecast period. Gear motors are the combination of the gearbox and electric motor, and these refer to the motors that contain mechanical gears to control the torque and speed of the motor which depends on the variety of applications and requirements. A gear motor can run either on alternating current or direct current. Energy consumption in Indonesia is dominated by fossil fuels. With the rise in population, the demand for more energy generation is increasing. The growth of the renewable energy sector and the depleting traditional energy sources with high subsidy on the fossil fuel is driving the growth of the gear motors market. Leading authorities are introducing initiatives for the implementation of wind energy as it is free and can be reached to remote locations easily at lower costs which in turn is expected to fuel the gear motors market growth.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected several countries adversely. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities of Indonesia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Manufacturing units were temporarily shut down and the workers moved back to their native places which created a shortage of workforce at the manufacturing units. The disruption in the supply chain was observed due to restrictions imposed on the import and export activities. Therefore, COVID-19 negatively impacted the gear market growth in the forecast period.
However, high maintenance and manufacturing costs of gear motors may restrain the gear motor market growth in the forecast period.
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Indonesia gear motors market can be segmented based on type, product type, rated power, torque, end use industry, regional distribution, and company. Based on the end use industry, the market can be divided into wind power, metals and mining, automotive, construction, chemicals & petrochemicals, power generation (excluding wind power), others. The wind power segment is expected to dominate the gear motors market in the forecast period, 2022-2026. Indonesia has limited water and electricity supply and the construction of power generation plants is quite expensive. With the growing energy consumption rate, the demand for energy generation from non-conventional sources of energy is expected to rise in the forecast period. Generation of energy from wind energy is still at nascent stage and contains huge potential in future thereby is expected to boost the demand of gear motors market as it is used in the wind power plants.
GH Gear Motors Arabia FZCO, Caterpillar Inc, Hitachi Construction Machinery Limited, Tadano Limited, Liebherr Group, Kobe Steel, Ltd, HUTA Group, ACT Gear Motors & Heavy Equipment, Grove Worldwide LLC, RCF Co. Riyadh Gear Motors Co are the leading players operating in Indonesia gear motors market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several gear motor manufacturers are coming up with their technologically advanced offerings.
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“The rise in the number of green energy projects to curb down pollution levels and promote sustainable energy generation and the growth of the industries is expected to influence the market growth. High-end investments by the market players for technological advancements for the existing infrastructure to devise simpler, compact, and modular designs and increase the efficiency and performance of gear motors are expected to pave the way for market growth. The growing adoption of hybrid technology and the huge demand from the agricultural industry is anticipated to propel the Indonesia gear motors market growth till 2026”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
According to TechSci Research “Indonesia Gear Motors Market By Type (Helical Gear Motors, Helical-Bevel Gear Motors, Worm, Planetary and Others) By Product Type (Gearbox and Gear Motor) By Rated Power (Up to 7.5 kW, 7.5 kW to 75 kW and Above 75 kW) By Torque (Up to 10,000 Nm and Above 10,000 Nm) By End Use Industry (Wind Power, Metals and Mining, Automotive, Construction, Chemicals & Petrochemicals, Power Generation (Excluding Wind Power), Others) By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Indonesia gear motors 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 decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Indonesia gear motors market.
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