Gear motor market to stagnate

齿轮电机市场停滞不前

The global market for geared products has experienced ups and downs in recent years, with a strong recovery in 2010 and 2011 followed by a contraction in 2012 and slight recovery in 2013. The global geared products market is estimated to have been worth over $12 billion in 2014, showing slight growth from 2013. However, the recovery trend is expected to halt market growth and lead to stagnation in 2015 and 2016, primarily because of the poor performance of the gearboxes market, which is predicted to be hurt by the performance of the downstream process industry sectors under the circumstance of a volatile global economy and geopolitical uncertainties.

近年来，全球齿轮产品市场可谓跌宕起伏，2010和2011年强劲复苏，2012年收缩，随后在2013年略有回升。2014年，全球齿轮产品市场估值超120亿美元，较2013年略有增长。然而，预计复苏态势将中断市场增长，并导致2015和2016年市场停滞不前，主要是因为在全球经济和地缘政治不确定性的情况下，受下游过程行业不稳定的表现影响，齿轮电机市场业绩不佳。

IHS predicts the global market for geared products to gradually pick up growth from the middle of the forecast period with a revenue CAGR of 1.6% from 2014 to 2019 to achieve $13.0 billion in 2019. In terms of regional markets, Asia Pacific was still the largest regional market for geared products in 2014, accounting for 46% of global revenues with an estimated value exceeding $5.5 billion. EMEA was the second-largest regional market in 2014 with a value of over $4.3 billion, representing 36% of global revenues.

IHS预测全球齿轮产品市场从预测期内的中期开始逐步回暖，2014年至2019年以1.6％的年均复合增长率增长，到2019年达130亿美元。在区域市场方面，亚太地区仍然是2014年*大的齿轮产品区域市场，占全球收入的46％，估值超55亿美元。 EMEA（欧洲、中东和非洲）地区是**大区域市场，2014年价值超43亿美元，占全球营收的36％。

The market for gearboxes continued to be much larger than the market for geared motors in 2014, accounting for an estimated 60.3% of market revenues. However, IHS forecasts that the market for gearboxes will grow much slower than the market for geared motors through 2019, with contraction occurring up to 2016; overall, the gearboxes market will generate a revenue CAGR of 0.9% from 2014 to 2019. This will be primarily because of the underperformance of its main downstream process industry sectors, especially mining and cement as well as metal processing. The market for geared motors is forecast to see a 2.8% revenue CAGR from 2014 to 2019, in part because the share of geared motors in discrete industry sectors is higher than that of gearboxes, and the discrete sector for geared products is forecast to grow faster than those of the process sector from 2014 to 2019. The geared motor market is projected to reach nearly $5.5 billion in 2019, accounting for approximately 42% of total geared products, up from 39.7% in 2014.

2014年，变速器市场仍然比减速机市场大得多，市场营收约占60.3％。但IHS预测，一直到2019年，变速器市场的增长将比减速机市场慢得多，并有所收缩直到2016年。总体来看，从2014年到2019年，变速器市场营收将实现0.9％的年均复合增长率，这主要是因为下游过程行业表现不佳，特别是采矿、水泥以及金属加工。而同期的减速机市场预计将取得2.8％的年均复合增长率，部分原因是在离散行业减速机的份额比变速器大，而离散行业的齿轮产品将比过程行业的增长更快。预计减速机市场在2019年将达55亿美元，在总体齿轮产品份额的比重随之从2014年的39.7％上升到大约42％。

The performance of the geared product market is largely dependent on the underlying growth in the industries that use them, which include many machinery and process sectors. The materials handling sector is the largest sector for geared products, accounting for 15.5% of market revenues in 2014 with an estimated value of nearly $1.9 billion and the highest revenue CAGR from 2014 to 2019 at 4%. The food and beverage sector (including machinery and process) is the next largest sector for geared products, especially geared motors, and it is projected to also grow at the second-fastest CAGR of the downstream industries at 3.5% from 2014 to 2019. Mining, one of the major downstream sectors, is forecast to perform the worst across all industry sectors with a revenue CAGR of -3.4%, followed by metal processing.

齿轮产品市场的表现在很大程度上取决于其应用行业，包括许多机械和加工行业的潜在增长。材料加工行业是应用齿轮产品*多的行业，2014年占了市场收入的15.5％，营收将近 19亿美元，2014至2019年的年复合增长率也是*高的4％。食品饮料行业（包括机械和加工）是齿轮产品的**大应用市场，尤其是减速机，2014年至2019年预计也是年均复合增长率**快的下游产业，为3.5％。作为下游主要行业之一的采矿，将是所有行业中*糟糕的一个，年均复合增长率为-3.4％，其次为金属加工。

In terms of market landscape, European suppliers continued to lead the total market for geared products in 2014, with eight out of the top-ten companies accounting for an estimated 45% of total global revenues in 2014. SEW-EURODRIVE remained the market leader in geared products, primarily because of its dominance in geared motors. Siemens was the market share leader for gearboxes and held the second -highest total geared product market share.

在市场格局方面，欧洲供应商在2014年继续领跑整个齿轮产品市场，拥有前十公司的八家，约占全球总收入的45%。SEW-EURODRIVE仍然是齿轮产品的市场***，在减速机领域占统治地位。西门子则在变速器领域市场份额**，在齿轮产品总体市场份额占有率**。