In 2020, the overall sales for worm reduction gearboxes witnessed a massive decline due to the Covid-19 crisis as lockdown was implemented and all the factorial units were closed which led the manufacturing companies to face immense losses. Now in 2021, the global manufacturers are giving entire focus on improving their sales and profitability through product innovations and upgradations.
What are Leading Worm Reduction Gearbox Manufacturers Doing?
Leading corporations including NGC Group, Lenze SE, Flender Corporation, Nord Drivesystems Private Limited, Bosch Rexroth Corporation, Zollern GmbH, Rossi SpA, Sew Eurodrive GmbH, Sumitomo Heavy Industries, Eickhoff Antriebstechnik GmbH, Johnson Elctric Holding Limited, Comer Industries and Wikov Industry are making high investments in the establishment of research institutes in different regions to come up with improvements in their offerings.
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They are adopting business strategies such as sales contracts, strategic alliances, acquiring technical expertise, product approvals, patents and events, joint ventures, partnership agreements, collaborations, digital marketing, mergers and acquisitions, capacity utilisations, technological advancements etc to lead the global demand for worm reduction gearbox.
Asia Pacific is predicted to rule the global market for worm reduction gearbox through 2030 owing to increasing demands from the manufacturing industries like automobile industry, food processing, agricultural machinery and power generation industries in India and China.
Presence of leading manufacturing companies that produce and distribute superior class gearboxes globally contributes to make China a leading region with the fastest growing CAGR rate. In India, the Government is encouraging the growth through proper guidelines for well organized energy consumption which is likely to augment the progress exponentially. Further, the rising construction business of techno-buildings is creating immense opportunities for the key players to extend their presence throughout the world.
About 75,000 Elevators can Spur the Demand for Worm Reduction Gearbox
Rapid urbanization across the globe, especially in emerging economies, is expected to fuel the adoption of elevators and lifts. For example, in India, the demand for lifts and elevators is expected to cross 75,000 units by the end of 2020, owing to favorable real estate reforms and growth in the construction sector.
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In addition, demand for elevators and lifts in the country is also influenced by growing aging population (according to UNFPA, India will witness above 12 million senior citizens by 2020) that has prefers to use high quality lifts. This has influenced the elevator and lift manufacturers to develop safe, smart and reliable equipment, which is expected to support the growth of worm reduction gearbox in the coming years.
Worm reduction gear box provide speed reduction in medium to low speed applications, for instance lifts and elevators, where they are used to regulate the torque of the lift. Moreover, their mechanism offers efficient energy utilization as they have higher counter balancing effect.
However, development of hydraulic elevators, is expected to hinder the demand for worm reduction. In hydraulic elevators, hydraulic systems are used instead of traction gears. They have gained high traction owing to their easy instalment, less space requirements and can lift high loads as hydraulic fluid mechanism can offer greater lifting force as compared to traction elevators.
Combination of Higher Reduction Ratio and Low Reverse Power to Intensify the Use of Worm Reduction Gear Box
Worm reduction gearbox offers huge reduction ratio as compared to standard motors. This allows huge turning of the main gear with a little directional shift of the worm gear in the worm reduction gear box. This permits the user to decrease the speed while simultaneously increasing the torque.
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This enables efficient handling, convenient direction change and reduced downtime of the engine. In addition, need for a backstop is eliminated as the set-up is easily simplifies with a worm reduction gearbox. This is due to its low reverse power that enables the gear to move in one direction.
Relatively in a standard gear set up, power reversing more components in the machine along with a backstop. Worm reduction gearbox is ideal preference for a machine that requires less speed and more torque, for example, a conveyor belt system. Second benefit lies in its simplicity as additional gears are not required to carry out to increase or decrease the speed of the machine.
The key stakeholders in the global worm reduction gearbox market include
- Precision Gears Inc.
- Gear Manufacturing Inc.
- ESSOR Precision Company
- HPC Gears
- Avon Gear and Engineering
- Mitsubishi and Gear Motions among others.
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