Report Overview

Increasing demand for escalators and elevators, high usage of gearboxes in automotive and mining industries, and rapid technological advancements could boost the growth of India worm gear reducers market during the forecast period between 2023 and 2029.

India Worm Gear Reducers Market – Industry Trends & Forecast Report, 2029

India worm gear reducers market size is projected to grow at a significant CAGR of 5.22% during the forecast period between 2023 and 2029. Major growth drivers of India worm gear reducers market include an increasing demand for elevators and escalators, as well as the expanding mining and automotive industries. The growing number of investments aimed at advancing various industries, such as wind power and other renewable energy sources, are expected to favorably impact the expansion of India worm gear reducers market.

India Worm Gear Reducers Market - Overview

A mechanical tool called a worm gear reducer lowers the speed of a rotating shaft by using two or more gears. In comparison to conventional gearbox designs, the employment of a worm gear reducer can produce a smaller, more compact system. Also, the worm is less likely to slip while under load because it drives the gears rather than the other way around. Therefore, they are ideal for heavy-duty applications requiring dependable power transmission.

Growth Drivers

Increasing Demand for Elevators and Escalators

Rapid urbanization, expanding real estate industry, and the construction of multi-story residential and commercial buildings across the country make India the world’s second largest market for elevators and escalators. India also has over 100 tier-2 cities, which are expanding owing to government support for infrastructure initiatives, such as smart cities. These cities are establishing innovative infrastructure, including malls, office complexes, hospitals, and apartment towers. These new infrastructures require smart and efficient elevators for the comfort of the clients and offer a more noteworthy basis.

High Usage of Gearboxes in Automotive and Mining Industries

The automotive industry has grown significantly in recent years as a result of several key factors, including rising income levels, increased vehicle penetration, expanding R&D hubs, and government programs have increased consumer demand for privately owned cars and thus fueled market growth. Worm gear reducer sales are expected to rise steadily during the forecast period due to their widespread use in applications that reduce speed and regulate vehicle torque. Worm gear reducers are also known to operate quietly and smoothly when properly mounted and oiled. Because of these characteristics, standard worm gear reducers are used in mining equipment. Therefore, the demand for worm gear reducers is steadily increasing in the mining industry.

Restraints

Increasing Cost of Raw Materials

Growing cost of raw materials is a key challenge limiting the expansion of India worm gear reducers market. Various raw materials, including stainless steel, hardened steel, aluminum, cast iron, bronze, and brass, are being used to manufacture worm gear reducers. However, the price for these raw materials is highly volatile and also rising. Higher raw material prices, however, may affect the profit margin of the companies involved in the production of worm gear reducers.

Impact of COVID-19 on India Worm Gear Reducers Market

COVID-19 pandemic adversely affected the expansion of the India worm gear reducers market. Players in the car and automotive industries experienced a reduction in revenue and sales. This reason had a detrimental effect on the market growth for worm gear reducers. Also, the suspension of numerous corporate operations hampered the expansion of the India worm gear reducers market.

India Worm Gear Reducers Market

Segmental Coverage

India Worm Gear Reducers Market - By Type

On the basis of type, India worm gear reducers market is divided into Orthogonal, Parallel-shaft, Coaxial, and other segments. The orthogonal segment dominates the market. The angle between the input and output shafts in worm gear reducers is referred to as orthogonal. For the gear reducer to function properly, the angle must be orthogonal (90 degrees). It ensures that the gear wheel teeth mesh correctly and allows for efficient power transfer between the input and output shafts.

India Worm Gear Reducers Market - By Power Rating

On the basis of power rating, India worm gear reducers market is divided into <1 kW, 1–3 kW, 3–5.5 kW, 5.5–7.5 kW, 7.5–11 kW, and>11kW segments.

India Worm Gear Reducers Market – By End Use

By end use, India worm gear reducers market is segmented into Machine tools, Construction Machinery, Ships, and others. The construction machinery segment leads the worm gear reducers market by end use. The segment growth can be attributed to rising demand for industrial robots, which are used in a variety of industries including automotive, consumer electronics, medical equipment, and food processing. Also, rising urbanization is increasing the need for infrastructure development across the country, which will drive product demand during the forecast period.

Competitive Landscape

Major players in India worm gear reducers market include Anbhuti Power System, J D Automation, N. S. Technocrats Private Limited, P.G Drive, Kavitsu, Anand Gears, Pearl Engineers, Powertek Equipment Co., Mayuresh Gears Pvt. Ltd., Boston Gear, Rotork Controls (India) Ltd, and Ketterer Drives. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Type

• Orthogonal

• Parallel-shaft

• Coaxial

• Others

By Power rating

• <1 kW

• 1–3 kW

• 3–5.5 kW

• 5.5–7.5 kW

• 7.5–11 kW

• >11 kW

By End Use

• Machine tools

• Construction machinery

• Ships

• Others