Worm Reduction Gearbox Market
Worm Reduction Gearbox Market Analysis By Gear Ratio (Single Reduction, Double Reduction), By Output Torque (Up to 100 Nm, 100-200 Nm, 200-400 Nm, 400-800 Nm, 800-1200 Nm, Above 1200 Nm), By End Use, By Region - Global Forecast 2022-2032
Analysis of Worm Reduction Gearbox market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Worm Reduction Gearbox Market Outlook (2022-2032)
The global worm reduction gearbox market is estimated at US$ 2 billion in 2022 and is forecast to surpass a market valuation of US$ 3.6 billion by 2032, expanding a CAGR of 5.8% over the 2022-2032 forecast period.
Worm reduction gearboxes are mainly used in logistics & material handling, wherein, they provide high efficiency, low noise, and smooth operation. Revenue from the sales of worm reduction gearboxes accounted for around 10% of the global gearbox market in 2021.
Market Size (2021A)
US$ 1.9 Billion
Estimated Market Value (2022E)
US$ 2 Billion
Forecasted Market Value (2032F)
US$ 3.6 Billion
Global Market Growth Rate (2022-2032)
North America Market Share (2021)
North America Market Growth Rate (2022-2032)
U.S. Market Growth Rate (2022-2032)
Key Companies Profiled
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Worm Reduction Gearbox Sales Analysis (2017-2021) in Comparison to Market Growth Forecasts (2022-2032)
Gearboxes are available in a wide range of speed ratios and load capacities. The objective of a gearbox reducer is to decrease or increase the speed of the motor. Worm gear reducers are operated in all industries, and more so in power transmission applications that require high ratio speed reduction in a limited space. A right-angle speed reducer is a worm gear reducer that allows maximum speed reduction of the gearbox.
The market for worm reduction gearbox is predicted to grow due to advanced technological advancements connected to maximum usage in industrial automation and metalworking industries. Worm reduction gearboxes with added features such as high efficiency, low noise, and smooth operation are the prime focus of worm reduction gearbox manufacturers.
The market for worm reduction gearboxes expanded at 0.5% CAGR between 2017 and 2021 and is predicted to progress faster at a CAGR of 5.8% through 2032.
What Opportunities Await Worm Reduction Gearbox Suppliers?
“Increasing Adoption of Worm Reduction Gearboxes in Automotive Industry”
The global automotive market and economic conditions have had a positive impact on this market's expansion. The automotive industry has seen substantial expansion during the last few years. The growing desire for privately-owned vehicles is what is driving market growth. Due to their widespread use in applications that reduce speed and manage vehicle torque, worm reduction gearbox sales are anticipated to steadily increase over the assessment period.
Worm reduction gearboxes are widely utilized in large trucks and off-road vehicles to provide different levels of torque to each wheel.
“Market Growing with Increasing Installation of Escalator / Elevator Drive Systems”
Worm reduction gearboxes are becoming more and more popular in several end-use industries that are expanding quickly. Worm helical gear units have a solid international track record as escalator drive units.
Globally, there were close to 1 million elevators and escalators installed in 2021, wherein, worm gearbox units provide the foundation for a majority of these escalator gear units. Unit stages of high-speed worm gears guarantee low-noise torque transmission while offering the best noise-absorbing capabilities. The most popular selection of the motor is thought to have optimal speed limitations and good starting torque.
“Huge Investments by End Users of Worm Reduction Gearboxes”
High investments in end-use industries are expected to push the market for worm reduction gearboxes in parallel. Companies are facing limitations of worm gearbox reducers as the efficiency of the gearing decreases the ratio if the gearing increases.
Companies such as Andantex USA Inc, Atlas Gear Co, Cone Drive, Delroyd Wormgear Altra Industrial Motion, DieQua Corporation, Fixedstar Group, Omega Corporation, and SGR Transmission are implementing newer technologies to ensure better quality and precision of worm gearbox reducers.
As worm reduction gearboxes provide robust products for the energy and power sector, along with oil & gas and mining, the market is expected to grow 1.8X over the forecast period.
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Which Factors are Driving Market Growth in China?
The China worm reduction gearbox market is set to account for the largest market share of 67.2% in East Asia in 2022 and is poised to register 6.6% CAGR during the forecast period.
China has seen increased demand for escalators and accounted for 63% of the total new installation of elevators in 2020. China is gradually improving its worm reduction gearbox production capacity to meet high-end demand with complex forming and processing requirements.
China is the world’s largest consumer of energy, thereby providing lucrative opportunities to market participants operating in the country.
Why are Worm Reduction Gearbox Producers Eyeing the U.S. Market?
The U.S. worm reduction gearbox market is anticipated to expand at a CAGR of 5.7% during the forecasted period. Due to the high penetration of gearboxes in the automotive as well as construction & mining industry, the market is likely to stay insulated.
Due to mounting demand for escalators and elevators, and the expanding construction and automotive industries, the country sees high usage of worm reduction gearboxes. Owing to the rising demand for power transmission in the energy and power sector, the worm reduction gearbox business in the United States is expected to grow steadily over the decade.
Why are Single Reduction Gearboxes Hugely Popular across Regions?
Single reduction gearboxes are expected to capture a volume market share of 71.1% by 2032, with the segment expanding at 5.5% CAGR over the assessment period. Segment growth is primarily driven by increasing demand from the automobile, material handling, and mining sectors.
A robust speed reducer is important to ensure the function of applications across vivid industry verticals. Worm gearbox reducers also include additional features such as generating little noise, minimum vibration, and are comfortable to use. Single reduction gearboxes are most widely used in different types of engines to improve the torque per revolution of the shaft.
Which End-use Vertical Accounts for High Worm Reduction Gearbox Consumption?
The energy & power end-use segment is poised to expand at 6.5% CAGR and create an absolute dollar opportunity of US$ 416.9 million by 2032.
Decreasing cost of renewable energy resources and rapid technological improvements have made renewables the most competitive energy sources. Energy sources in the United States increased by 42% between 2010 and 2020, and this product's benefits include compact volume, flexible installation, pleasing look, and quick radiating.
Worm reduction gearboxes in automobiles create torsion differentials in four-wheelers, assisting in direction shift when the wheels turn with more force, where they lower the vehicle speed to its threshold limit without slowing it down.
Worm reduction gearboxes are also employed in traction elevators; it is anticipated that the development of traction elevators will drive market expansion for worm reduction gearboxes going forward.
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The global worm reduction gearbox market is moderately fragmented due to the presence of several regional and global players. Strategic alliances, sales contracts, product approvals, acquiring technical expertise, partnership agreements, capacity utilization, and technological advancements are being pursued by worm reduction gearbox producers to increase their market share.
Along with this, players are leveraging economy of scales with low costing as a strategic approach to expand their presence in the market and garner a wider consumer base. Market participants are also expanding their product portfolios with the diversification of product-based output torque and gear ratio. Leading players have entered into long-term collaborations with end users to create consistency in demand.
Fact.MR has provided detailed information about the price points of key manufacturers of worm reduction gearboxes positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Worm Reduction Gearbox Industry Survey
By Gear Ratio :
- Single Reduction Gearboxes
- Up to 10
- Above 100
- Double Reduction Gearboxes
- Up to 200
- Above 4000
- Single Reduction Gearboxes
By Output Torque :
- Up to 100 Nm
- 100 - 200 Nm
- 200 - 400 Nm
- 400 - 800 Nm
- 800 - 1200 Nm
- Above 1200 Nm
By End Use :
- Logistics & Material Handling
- Automotive & Transportation
- Construction & Mining
- Escalator / Elevator Drive Systems
- Metal Working Industry
- Energy & Power
- Food & Beverages
- Discreet Manufacturing
- Other End-use Sectors
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global worm reduction gearbox market is valued at US$ 2 billion in 2022.
Global worm reduction gearbox demand is anticipated to reach US$ 3.6 billion by 2032-end.
Between 2017 and 2021, the global market for worm reduction gearboxes expanded at 0.5% CAGR.
Key worm reduction gearbox suppliers are Andantex USA Inc., Atlas Gear Co., Boneng, Cone Drive, Delroyd Wormgear Altra Industrial Motion, DieQua Corporation, Fixedstar Group, Omega Corporation, and SGR Transmission.
East Asia tops the global worm reduction gearbox market accounting for over one-fourth market share.
Single reduction gear ratio will lead with a market share of 71.1% by 2032.