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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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Industrial Gearbox and Gear Motors: European Manufacturers Are Challenged by Intense Competition and Low Margins, Finds Frost & Sullivan PR Newswire LONDON, June 20, 2012 - Nurturing strong customer-manufacturer relationships will be key to maintaining growth LONDON, June 20, 2012 /PRNewswire/ -- 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 (http://www.motors.frost.com), Gearbox and Gear Motors Market, finds that the market in Europe earned revenues of euro 2,928.1 million in 2010 and estimates this to reach euro 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.
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Industrial Gearbox and Gear Motors: European
Manufacturers Are Challenged by Intense
Competition and Low Margins, Finds Frost &
Sullivan
PR Newswire
LONDON, June 20, 2012
- Nurturing strong customer-manufacturer relationships will be key to
maintaining growth
LONDON
,
June 20, 2012
/PRNewswire/ -- 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 (http://www.motors.frost.com),
Gearbox
and Gear Motors Market
, finds that the market in
Europe
earned revenues
of
euro 2,928.1 million
in 2010 and estimates this to reach
euro 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