The European market for gearboxes and geared motors is facing intense competition from Asian and eastern European manufacturers that are luring end-users through competitive pricing strategies.
The European market for gearboxes and geared motors is facing intense competition from Asian and eastern European manufacturers that are luring end-users through competitive pricing strategies.
However, the growing need for planetary designs and the sustained demand from mechanical handling, wind energy, and food and beverages end-users, is expected to increase revenues in the European gearboxes and geared motors market from E2.48billion in 2004 to E3.13billion in 2011.
The increase in energy prices and the need to reduce dependence on the Middle East for fossil fuels has led to the development of inexpensive and renewable wind energy applications, which is likely to lead to a demand for gearboxes. Furthermore, the need to reduce costs and improve productivity is driving manufacturers to invest in more efficient power transmission technologies, which are expected to augment demand for planetary gearboxes and boost the growth of the European market.
“The anticipated expansion of the packaged food industry, with the modernisation and diversification of existing factories across Europe, will provide growth opportunities for gearbox and geared motor manufacturers,” says Frost and Sullivan.
The modular design of off-the-shelf gearboxes and geared motors, which can be used in different applications, is another catalyst likely to drive the market.
