Renewable energy to drive geared motors, drives market
Author:WINTIN Browsing times:3218 Date:2016-06-01

The global geared motors and drives marketis expected to grow at a compound annual growth rate (CAGR) of almost 5% from2016 to 2020, according research company Technavio.

Governments worldwide are investingheavily in wind power which fuels the demand for gear motors and drives, asthey are key components.

“The geared motors and drives market inthe wind power industry is booming because of large-scale installations of windturbines in China, the U.S., Germany, Spain, and India,” says BharathKanniappan, a lead automation research expert from Technavio.

Technavio’s research study segments theglobal geared motors and drives market into:

  • Europe, Middle East, Africa (EMEA)

  • Asia-Pacific (APAC)

  • Americas

In the Americas,the market is expected to reach $2.9 billion by 2020, growing at a CAGR of morethan 5%.