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Industrial Gearbox and Gear Motors - European Manufacturers Are Challenged by Intense Competition and Low Margins Finds Frost & Sullivan - Nurturing strong customer-manufacturer relationships will be key to maintaining growth - Motors.Frost.com
Industrial Gearbox and Gear Motors - European Manufacturers Are Challenged by Intense Competition and Low Margins Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2012/06/19 - Nurturing strong customer-manufacturer relationships will be key to maintaining growth - Motors.Frost.com.

   
 
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Although mature, the European gearbox and gear motors market has consistently recorded moderate growth, except in 2009 during the global recession. The market is highly competitive with very low margins. Buyers are becoming more sensitive and manufacturers can no longer rely only on low production costs to gain a competitive edge.

New analysis from Frost & Sullivan (motors.frost.com), Gearbox and Gear Motors Market, finds that the market in Europe earned revenues of €2,928.1 million in 2010 and estimates this to reach €3,721.15 million in 2017.

The need to cut costs and improve productivity is driving European manufacturers to invest in more efficient power transmission technologies. They are also focusing on product differentiation and technological innovation to ensure the sustained use of geared components in future.

"Economic stability, with its attendant increase in consumer confidence and spending, will push the gearbox and gear motors market back on track,” notes Frost & Sullivan Research Analyst Ramasubramanian Natarajan. "Rising investments in major end-user segments such as wind power, food & beverage and material handling will provide a fillip to geared components in the short- and medium-term."

In particular, heightened environmental concerns and escalating energy costs will promote the use of wind power farms – a consistent end-user segment – resulting in greater demand for gear solutions. At the same time, simplicity of design will facilitate the widespread acceptance of gears technology across other applications and end-user segments. This technology is perceived to be the most cost-effective for industrial mechanical power transmission.

"Modular design and flexibility in usage has boosted the cost-effectiveness of geared products," adds Ramasubramanian. "A substantial customer base for gearbox and gear motors is expected to impact the growth statistics of the market."

The prevalence of gearbox and gear motors is, however, being threatened by alternative and advanced technologies like variable frequency drives. Widespread availability, falling prices and increasing awareness about the advantages of electric drives are motivating end-users of gear products to adopt these newer technologies.

"This has been exacerbated by the fact that most potential applications have already been identified and satisfactorily addressed by gearbox and geared motor manufacturers," remarks Ramasubramanian. "Consequently, they have found it difficult to penetrate newer applications and increase their market share."

To sustain growth, market participants should focus on nurturing the customer-manufacturer relationship. Also, as end users shift their manufacturing base to Eastern Europe, motor manufacturers need to augment their penetration of these regional markets. Strategic merging and sharing of technology between companies can also lead to product development for mutual benefit. To offset foreign competition, manufacturers should invest in R&D to produce cost-effective and high-quality products.

"In order to compete effectively against low-cost imports, European manufacturers can outsource the production of non-critical components to regions which offer low-cost labour and raw materials," advises Ramasubramanian. "The final component can then be inspected and assembled by more skilled labour in Europe."

If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, at anna.zanchi[.]frost.com.

Gearbox and Gear Motors Market is part of the Mechanical Power Transmission Growth Partnership Services programme, which also includes research in the following markets: Strategic Analysis of Servo and Stepper Systems Market in Europe, Electric Drives Market in European Packaging Industry, Electric Drives in European HVAC Industry and European Market for Integrated Motors and Drives. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

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Industrial Gearbox and Gear Motors - European Manufacturers Are Challenged by Intense Competition and Low Margins Finds Frost & Sullivan

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