The market for gears used in electric motors is experiencing steady growth, driven by the increasing demand for electric vehicles (EVs), e-bikes, and other electric-powered tools. The market is expected to grow at a compound annual growth rate (CAGR) of 7.0% to 8.5% between 2024 and 2029, driven by the rise of electric mobility, advances in motor technologies, and growing environmental concerns leading to the shift toward electric transportation.
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Market Size
The global market for gears used in electric motors is witnessing robust growth, as electric motors continue to replace traditional internal combustion engines in a variety of applications. This growth is driven by the increasing production and adoption of electric vehicles, as well as the growing popularity of e-bikes and e-tools. The market is projected to grow at a CAGR of 7.0% to 8.5% from 2024 to 2029. The demand for high-performance, durable gears that offer efficiency in power transmission is expected to further fuel market expansion.Market Share & Trends Analysis
By Application
The gear market for electric motors is segmented by application, with each segment experiencing growth at different rates:- E-Bikes: The demand for gears used in e-bikes is anticipated to experience substantial growth, with a projected CAGR of 8.0% to 9.0% over the forecast period. This growth is driven by the increasing adoption of e-bikes as an eco-friendly and convenient transportation solution in urban areas.
- Electric and Hybrid Vehicles: The electric and hybrid vehicle segment is expected to dominate the market, accounting for a significant share, with a CAGR of 7.5% to 8.5%. The demand for high-efficiency gears is rising as electric and hybrid vehicle manufacturers strive to improve performance, efficiency, and driving range.
- E-Tools: The market for gears in e-tools is growing steadily, with a CAGR of 6.0% to 7.0%, as more consumers and professionals opt for electric-powered tools that offer improved performance, precision, and convenience.
- Others: Other niche applications, such as gears used in robotics, automation, and industrial machinery, are also contributing to the market growth. This segment is projected to grow at a CAGR of 5.5% to 6.5%, driven by advances in automation and the increasing integration of electric motors in industrial processes.
By Product Type
The market is also segmented by the type of gear used in electric motors, each serving different industries and applications:- E-Bike Gears: Gears specifically designed for e-bikes are growing rapidly, driven by the rise in e-bike adoption. This segment is expected to grow at a CAGR of 8.0% to 9.0%, with demand driven by the need for lightweight, durable, and high-efficiency gears to improve the performance of e-bikes.
- Electric and Hybrid Vehicle Gears: Gears used in electric and hybrid vehicles are essential for optimal power transmission and efficiency. This segment is expected to grow at a CAGR of 7.5% to 8.5%, as automakers increasingly focus on the development of electric vehicles (EVs) and hybrid technologies to meet environmental standards.
- E-Tool Gears: Gears used in power tools are experiencing steady growth, as e-tools become more prevalent in both domestic and industrial sectors. This product type is expected to grow at a CAGR of 6.0% to 7.0%.
- Others: Other product types, including gears for robotics and industrial machinery, will contribute to the overall market growth at a CAGR of 5.5% to 6.5%.
By Key Players
The global market for gears used in electric motors is characterized by the presence of several leading manufacturers, which provide a wide range of gear solutions for electric motor applications. Some of the key players in this market include:- hGears AG: A leading manufacturer of precision gears, hGears provides high-performance gear solutions for electric motors, including those used in e-bikes, electric vehicles, and power tools.
- IMS Gear: IMS Gear specializes in the production of high-quality gears for a variety of electric motor applications, with a strong focus on the automotive and e-mobility sectors.
- Miba: Known for its expertise in the automotive industry, Miba produces innovative gears for electric and hybrid vehicles, helping manufacturers achieve higher performance and efficiency.
- PMG: A prominent player in the electric motor gear market, PMG focuses on the development of gear solutions for e-mobility and industrial applications.
- Koessler: Koessler provides gear solutions for electric motors, with a strong presence in the automotive and e-bike sectors, offering reliable and durable products.
- Yangzhou Seashine New Materials, Portie, SHW, and Stackpole International: These players offer a wide range of gear products, contributing to the expansion of the electric motor gear market.
By Region
The market for gears used in electric motors is witnessing regional variations in growth, with the following regions expected to lead in market share and growth rates:- Asia-Pacific: The Asia-Pacific region is expected to dominate the gear market for electric motors, accounting for 40% to 45% of the total market share, with a growth rate of 8.0% to 9.0%. This growth is primarily driven by the booming e-bike market in countries like China, Japan, and India, as well as the increasing adoption of electric vehicles.
- Europe: Europe is projected to hold a market share of 25% to 30%, growing at a CAGR of 7.0% to 8.0%, driven by strong demand for electric vehicles and the presence of key automotive manufacturers in the region.
- North America: North America is expected to contribute 20% to 25% of the market, growing at a CAGR of 6.5% to 7.5%, as the adoption of electric vehicles and e-bikes continues to rise, particularly in the U.S. and Canada.
- Rest of the World: The rest of the world, including Latin America and the Middle East, is expected to account for 10% to 15% of the market, growing at a CAGR of 5.0% to 6.0%.
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Table of Contents
Chapter 1 Executive SummaryChapter 2 Abbreviation and Acronyms
Chapter 3 Preface
Chapter 4 Market Landscape
Chapter 5 Market Trend Analysis
Chapter 6 Industry Chain Analysis
Chapter 7 Latest Market Dynamics
Chapter 8 Historical and Forecast Gear For Electric Motor Market in North America (2019-2029)
Chapter 9 Historical and Forecast Gear For Electric Motor Market in South America (2019-2029)
Chapter 10 Historical and Forecast Gear For Electric Motor Market in Asia & Pacific (2019-2029)
Chapter 11 Historical and Forecast Gear For Electric Motor Market in Europe (2019-2029)
Chapter 12 Historical and Forecast Gear For Electric Motor Market in MEA (2019-2029)
Chapter 13 Summary For Global Gear For Electric Motor Market (2019-2024)
Chapter 14 Global Gear For Electric Motor Market Forecast (2024-2029)
Chapter 15 Analysis of Global Key Vendors
List of Tables and Figures
Companies Mentioned
- hGears AG
- IMS Gear
- Miba
- PMG
- Koessler
- Yangzhou Seashine New Materials
- Portie
- SHW
- Stackpole International
- CVT-Capellmann
- Berger
- AMES
- Grieshaber
- Framo Morat
